Best Crypto Exchanges Philippines – Top 4 Crypto Exchanges 2021

Fact Checked by Gary McFarlane

If you’re interested in getting stuck into the cryptocurrency space, you’ll need to make sure you’re equipped with the best crypto exchange out there. After all, you’ll be using it constantly, so you might as well make sure it’s the perfect fit for you. There are hundreds if not thousands of exchanges out there so it’s no surprise that filtering out all the false information can be quite difficult. This is why we created this article comparing the 4 best crypto exchanges in the Philippines while also providing a comprehensive guide on exactly how you make your first investment into the crypto market. 

#1 Crypto Exchange Philippines – eToro

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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

Best Crypto Exchanges Philippines – Top 4 List

We appreciate that not everyone has the time to read through an entire article, so to make sure no one is left out, we’ve included these summaries on which area each of the top 4 crypto exchanges performs best. 

  • eToro – Overall Best Crypto Exchange Philippines
  • Capital.com – Best Crypto Exchange for Data Security Philippines
  • Coinbase – Easiest to Use Crypto Exchange Philippines
  • AvaTrade – Most Accessible Crypto Exchange Philippines

Best Crypto Exchanges Philippines – In-Depth Reviews

Before you can take advantage of the cryptocurrency boom, you’ll need to choose a crypto exchange you like the sounds of. To make this process as simple as possible, we’ve done the research for you and provided full-length reviews on our top 4 best crypto exchanges currently available to traders. 

1. eToro – Overall Best Crypto Exchange Philippines

If you’re looking for the overall best crypto exchange in the Philippines, then look no further! eToro is a giant in the investment space and offers tonnes of useful tools to crypto investors. They’ve been operating since 2007 and have amassed over 20 million loyal users. Clearly, they’ve done something right considering they achieved numbers like that. 

Security

Security is one the most crucial aspects of any crypto exchange, after all, any platform holding large sums of money is bound to be a target for hackers. To prevent anything from happening to their customers, eToro uses several industry-leading techniques. SSL encryption is used to prevent customer data from being intercepted as it makes its way back to the central server, something that is increasing in frequency. To prevent a hacker from being able to empty eToro’s crypto wallets, the majority of funds are kept securely locked away in cold storage. This ensures that even if eToro gets compromised, customer funds will remain safe. Another way eToro reduces the chance of an attacker being able to steal funds is by giving users the option of enabling 2-factor authentication (2FA). By enabling 2FA, users require a code that gets sent via SMS to authorize sensitive account actions (withdrawals, deposits, etc). On top of all this, eToro is regulated by several leading authoritative bodies including the FCA, CySEC, and ASIC.

Features

eToro is an incredibly well-rounded crypto exchange, it grants users access to heaps of charting tools, a range of markets, and several investment types. This ensures that even investors with plenty of experience won’t be left wanting more. Anyone just beginning their crypto journey will be happy to know that eToro provides you all the resources you need to level up your trading game considerably. The eToro Academy gives everyone the ability to learn the ins and outs of cryptocurrency trading, it covers the basics, as well as more advanced trading strategies, meaning users will be able to make better-informed decisions. Additionally, eToro allows its users to take advantage of something called CopyTrading, an automated social trading system that allows you to choose a user that matches your goals and automatically mirrors their trades. After taking into consideration everything eToro offers, it’s safe to say they’ve earned the title of the best crypto exchange.

eToro Fees

Fee Type Fee Amount
Bitcoin Spread 0.75%
Commision Fee 0%
Deposit Fee $0
Withdrawal Fee $5
Inactivity Fee $10 (Monthly)

 

Pros

  • Regulated
  • SSL Encryption
  • Cold Storage
  • CopyTrading
  • eToro Academy
  • 2FA

Cons

  • MetaTrader Support Needed
  • More Technical Indicators Would Be Useful

67% of retail investor accounts lose money when trading CFDs with this provider. 

2. Capital.com – Most Educational Crypto Exchange Philippines

Over the past few years, Capital.com has taken the world by storm, since its release in 2016 they’ve managed to accumulate over 1 million active users and it’s easy to see why. They’ve ensured their platform is totally secure by adhering to strict regulations and also made sure that anyone using their platform has access to all the educational material they could ever need. 

Capital.com review

Security

As we mentioned, Capital.com does not take security lightly. They use several interesting techniques to ensure the safety of their platform and customers. Firstly, Capital.com is regularly audited and follows rules laid out by multiple leading authoritative bodies, this prevents Capital.com from engaging in any shady dealings behind the scenes. Capital.com also takes the threat of customer data getting intercepted seriously, they use a piece of technology called Transport Layer Security to prevent this from happening. It obscures any important data before it leaves your device, meaning that even if someone were to intercept it, they wouldn’t be able to use it. Additionally, Capital.com is PCI Data Security Standards compliant, meaning you can rest assured knowing your data is being handled using the correct protective measures. 

Features

It’s no secret that more knowledgeable traders make for better traders, which is why it’s great to see the number of resources Capitlal.com has dedicated to educating its users. Firstly, under the “Learn to Trade” section of their website, anyone can access a treasure trove of information related to trading. Having easy access to information like this means that you’re more likely to be successful, benefiting both you and Capital.com. Capital.com also provides users with access to their educational app Investmate, giving users the option of learning to trade without needing to carry around a bulky laptop. On top of this, Capital.com has created Capital.com TV, which is composed of hundreds of videos discussing market outlooks, current events, trading strategies, and even cryptocurrency as a whole. Having access to research like this can end up being the difference between a trader earning tonnes of profit or losing big. 

Capital.com Fees

Fee Type Amount
Commission 0%
Withdrawal Fee $0
Deposit Fee $0
Inactivity Fee $0

 

Pros

  • CopyTrading
  • CopyPortfolio
  • eToro Academy
  • Capital.com TV
  • Investmate

Cons

  • Only Supports CFD Crypto Trading
  • Crypto Investments Not Available to UK Residents

 76.72% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

3. Coinbase – Easiest to Use Crypto Exchange Philippines

If you’ve spent any amount of time researching crypto exchanges then the chances are pretty high you would’ve heard the name Coinbase mentioned. They are the biggest crypto exchange in the US, currently serving over 56 million users. Considering they were founded in just 2011, it’s safe to say Coinbase is one of the fastest-growing crypto exchanges out there. 

Security

Considering they look after the funds of more than 56 million people, Coinbase is likely the target of a huge number of hacks. Despite this, however, Coinbase has managed to survive its 10-year run without ever being officially hacked, an achievement not many crypto exchanges hold. The reasons for Coinbase’s security success are three-fold, firstly they lock 98% of client funds offline in cold storage, keeping only what’s needed for daily operation in hot wallets. Secondly, they use AES-256 encryption to secure all crypto wallets and private keys, preventing attackers from being able to gain access. And lastly, Coinbase has a bug bounty program that rewards people for finding flaws in their security, drastically reducing the chance of a catastrophic exploit being found by a nefarious individual. 

Features

Coinbase is a beginner-centric crypto exchange, they’ve tailor-made the platform to be perfect for beginners looking to dip their toes into the crypto space. One of the ways this has been achieved is by implementing a system that rewards users for learning about crypto. This rewards system consists of a short video, around 5 minutes in length, and is followed by a short quiz. Upon successful completion of the quiz, users are rewarded in crypto, usually whichever one they learned about. Although aimed predominantly at beginners, Coinbase also gives users the option of registering with a platform called Coinbase Pro, which provides users with access to more asset pairs and additional charting tools. On top of this, Coinbase Pro has a far more competitive fee structure as it’s aimed more toward high-volume trades than retail investors, meaning even if you’re a beginner it can be more cost-effective to learn how to trade on the pro platform. 

Coinbase Fees

Fee Coinbase Coinbase Pro
Debit/Credit Card 3.99% 0%
Bank Deposit 1.49% 0%
Wallet 1.49% 0%
Conversion 0.5% to 2% 0.5% to 2%
Trades $0.50 $0 to $0.50
Coinbase fee $0.99 to $2.99 Based on size of transaction  0.04% to 0.50% taker fee and a 0% to 0.50% maker fee

 

Pros

  • 98% Cold Storage
  • Wallets + Private Keys AES-256 Encrypted
  • Coinbase Bug Bounty Program 
  • Rewards System 
  • Beginner Friendly
  • Coinbase Pro 

Cons

  • Crypto Earnings Above $5000 Reported for Tax Purposes
  • Too Basic For Experienced Users
  • Limited Cryptocurrencies Available
  • Confusing Fee Structure

67% of retail investor accounts lose money when trading CFDs with this provider.

4. AvaTrade – Most Accessible Crypto Exchange Philippines

Last but certainly not least, we have AvaTrade. Founded in 2006 AvaTrade has managed to accumulate over 2 million users. It’s achieved this by providing users with a top-tier trading experience accessible by almost everyone and tonnes of specialized trading platforms. Overall, we’d have to say AvaTrade is more than capable of keeping up with the big dogs 

Security

AvaTrade clearly understands the importance of security for a crypto exchange, they’ve done well to counter many of the most common types of digital attacks. One way they’ve achieved this is by following regulations created by leading authoritative bodies in order to protect customers’ data and funds. 256-bit SSL encryption has also been used to obscure important data, rendering it unusable if it were to get intercepted. As an additional layer of protection, AvaTrade has also utilized McAfee Secure, a piece of technology designed to encrypt sensitive data like credit card information or identity documents. 

Features

To appeal to as many users as possible, AvaTrade allows users to register for a few different accounts and has created several trading platforms dedicated to specific markets & strategies. Firstly, prospective AvaTrade users get to choose between a regular account, a professional account (higher leverage), and an Islamic account (adheres to Islamic finance principles). For anyone looking to trade in alternative markets to crypto, AvaTrade users have access to AvaOptions (dedicated options platform), AvaTradeGO (mobile trading platform), and ZuluTrade (automated social trading). Combine all these options with incredibly low fees and tight spreads, and it’s easy to see why AvaTrade has made it to our list of the best crypto exchanges. The only area that lets AvaTrade down slightly is the extremely high inactivity fees, but nothing’s perfect after all.

AvaTrade Fees

Fee Type Fee Amount 
Bitcoin Spread 0.25%
Commission Fee 0%
Deposit Fee $0
Withdrawal Fee $0
Inactivity Fee $50 after 3 months & $100 after 12 months

 

Pros

  • Regulated
  • 256-Bit SSL encryption
  • ZuluTrade
  • AvaTradeGO
  • AvaOptions
  • Low Fees
  • 2FA

Cons

  • UI Outdated
  • Not Available in Some Countries
  • High Inactivity Fees

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What is a Crypto Exchange?

Every crypto exchange is different, they’re all aimed at different audiences with different skill sets. However, that doesn’t mean you have to blindly select a platform and hope it’ll work well for you. There are a few key requirements that every crypto exchange needs to fulfill in order to be usable for investors. Three of the most important factors include: 

  • Managing Assets: The ability to easily manage your assets is crucial to the success of any crypto exchange. If a platform makes it too difficult to monitor the performance of investments it’s only a matter of time before its users become disgruntled and migrate elsewhere. It’s avoiding the hassle later down the line by making sure your chosen crypto exchange has a solid wallet/portfolio section.
  • Buying & Selling: Every exchange will allow you to buy and sell assets, after all that’s one of the main requirements to be considered an exchange. That being said, you need to look out for how a platform lets you buy and sell. For example, eToro allows you to use a range of order types (limit, market, stop loss) letting you invest more efficiently. 
  • Extra Features: Buying, selling, and managing your assets are all fairly basic features you’d expect from any crypto exchange worth its salt. However, many exchanges also come equipped with heaps of additional features. Some worth looking out for include automated trading, staking (earn interest on your investment), and educational resources. 

How to Find the Best Crypto Exchange

If you find the sheer amount of crypto exchanges you can register with difficult to wrap your head around, don’t worry, you’re not alone. Because almost every exchange comes armed with different features, selecting the one that’s best for you can be a confusing task. However, at Economy Watch we believe everyone should have easy access to an exchange that is right for them. So, we’ve included three things everyone should consider when deciding which exchange to begin investing with. 

Extra Features

To be considered a crypto exchange a platform needs to fulfill a few basic requirements, these being buying & selling, managing your assets, and withdrawing or transferring assets. You should always consider what else a crypto exchange offers outside of the basics, that’s what really sets exchanges apart from one another. For example, eToro offers automated trading, managed portfolios, and a tonne of educational material. All three of which could seriously help a new investor get started on the right path. 

Ease of Use

It’s all well and good piling heaps of advanced features into an exchange, but it’s no use if the platform is impossible to use. At the end of the day, any time spent figuring out how an exchange works could be better spent working on your trading strategies. So, to ensure you don’t end up wasting time trying to figure out how a platform works, it’s worthwhile making sure your potential exchange is simple to use

Security

Nobody wants to wake up one day, check their portfolio, and see it’s empty. Although unlikely, the unfortunate truth is that this is the reality for many investors that use exchanges with poor security. You would think it’s fairly easy to tell a reputable exchange apart from an illicit one, but that couldn’t be further from the truth. Many dodgy exchanges have taken to falsely stating that they’re regulated and even faking entire order books. Because of this you should always double-check and make sure a crypto exchange is on whichever register they claim. For example, if a platform claims to be regulated with the FCA, you should check to make sure they’re actually on the FCA register. 

How to Get Started with the Best Crypto Exchange – Full Guide

Getting started when you’re fresh to a crypto exchange can be much harder than you’d expect. They often throw around tonnes of financial jargon and commonly include features you might not have seen anywhere else. However, we look after our readers, which is why we’ve created this detailed guide explaining exactly how you can start investing with the best crypto exchange, eToro. 

Step 1: Sign Up

The first thing you’ll have to do is register with eToro. This step only takes a few seconds to complete, all you’ve got to do is type “eToro.com” into your browser’s search bar, then when you’re on the eToro website simply click “Join Now” and fill in the necessary information. 

how to join etoro

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Verify Identity

Once you’ve completed the initial registration process, you’re ready to verify your identity. To do this you’ll need to have a photo ID (passport, driving license) and proof of address (bank statement, utility bill) at the ready. Just click on the “Deposit Funds” button and the screen below will pop up, just fill in the required fields and you’ll be good to go!

Step 3: Fund Account

Now that your account has been verified, you’re only one step away from making your first investment. All that’s left to do is fund your account. To do this you’ll have to once again click on the blue “Deposit Funds” button, then type in the amount you plan on investing, and press “Deposit”. eToro supports deposits using either a credit/debit card, bank transfer, or e-wallet (PayPal, Skrill).

Step 4: Make Your First Investment

After your account has been successfully funded, you’re ready to invest! Just type the name of the asset you’d like to purchase (BTC, ETH, BNB, etc) in the eToro search bar, press “Trade”, enter the amount you’d like to invest, and then press “Open Trade”. You’ll be able to view and manage your investment from the portfolio section of your account. 

Conclusion

To summarize, if you want to have a successful time in the crypto space, you’ll need to make sure you’re trading with a trustworthy and top-quality crypto exchange. If you don’t take the time to research which exchanges are good, the chances of you paying steep fees or missing out on key features are far higher. We understand how difficult filtering through the information surrounding a crypto exchange can be, which is why we’ve done the heavy lifting and compared tonnes of exchanges against one another. From our research, one thing became clear, eToro reigns supreme over every other crypto exchange. Their blend of security, convenience, and features is simply too impressive to compete with. All in all, if you’re looking for a solid exchange that will last the test of time and assist you in your trading journey, eToro is by far the best crypto exchange. 

Overall Best Crypto Exchange – eToro

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Jay Leonard PRO INVESTOR

Jay is a UK based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. He has a great deal of hands on experience in the space and a current focus on institutional adoption.