Top 5 Trading Platforms for Cryptocurrency in the Philippines: Best Exchanges
Philippines is the country which actively develops DLT and crypto coins. The technology’s position is strengthened by numerous DLT-based startups and the country’s welcoming regulatory environment.
In June 2018, the Philippines’ Cagayan Economic Zone Authority (CEZA) has announced that 25 trading platforms would get licenses to work in the country.
The authorities of the country have already presented licenses for legal operation in the country to 19 companies. The licenses have been prepared by the Cagayan Economic Zone Authority (CEZA). Now the authority is considering if licensing eight more firms.
Best platforms where to trade and invest in crypto coins in the Philippines are presented in the article.
How to Choose the Trading Platform?
To choose the suitable service, it is crucial to pay attention at certain elements.
Most of the times, BTC and USD are the currencies widely accessible but if the other cryto coin or fiat is needed, the platform with the standard pair will not be suitable.
Trading elements play an important role as crypto buyers and sellers have to consider hedging, stop loss features and other options which can give more control over trading.
Support and Comments
Before joining this or that platform for trading crypto, users have to make sure the project is not a scam. To check if the platform is trustworthy or not, it is necessary to pay attention at the working customers’ support and the evaluations of the service by other users.
Best Philippine Trading Platforms for Crypto
Coins.pro is the first crypto coins’ trading platform in the Philippines. It is a part of Coins.ph – the digital wallet which has gained a lot of trust among the country’s citizens.
The trading on Coins.pro is only accessible to the registered users of Coins.ph, so, it is important to start an account there. The account is needed to transfer funds, and it is possible to send PHP, BTC, ETH, BCH, LTC or XRP.
Coins.pro trading platform’s goal is to make the crypto trading cheap and fast, as well as to reduce the costs.
The Philippine Digital Asset Exchange (PDAX) is the trading platform which has been licensed in September 2018.
The platform enables Filipinos to trade digital coins, utility tokens and various digital assets. Such coins as BTC, BCH, ETH, LTC and XRP are available for trading with the fiat currency of the country – PHP.
The platform guarantees competitive prices and availability of assets. The amount of fees depends on how actively users trade and can be as low as 0.05% per transaction.
Coinage is the BTC trading platform which guarantees its users that they can trade safely and easily.
The head office of the company is located in California, however, it is only possible to trade PHP-BTC. As stated by company, the platform was established to help Filipinos and people from other countries to trade PHP.
Abra is the app which allows users to buy, sell and hold 28 cryptocurrencies and 50 fiat currencies. The platform provides several options for adding money to the wallet, depending on clients’ location.
Using the credit cards is possible everywhere, bank accounts transfers are available in the U.S., Europe and Philippines, while making deposits into the wallet with cash is only available in the Philippines.
In the BTC-based digital currency wallet, it is possible to have PHP Balance, BTC Balance, and an ETH Balance.
Using the bank account, users can add money to PHP balance. When the balance is loaded, customers can trade PHP to BTC or ETH. Clients have an opportunity to withdraw the fiat currency and BTCs, sending them to different crypto wallets.
eToro is the BTC trading platform authorized and regulated by the Cyprus Securities Exchange Commission (CySEC). It is available and used in the Philippines, as it guarantees the risk management tools to protect customers’ positions.
At the platform, it is possible to invest in currency, commodity, index, stock and ETF CFDs.
Digital coins and DLT will be discussed by crypto experts at the Blockchain & Bitcoin Conference Philippines.