Summary: The Philippines ranks as the eighth-largest adopter of cryptocurrencies globally, driven largely by the popularity of games like Axie Infinity during the COVID-19 pandemic. The Bangko Sentral ng Pilipinas (BSP) oversees the industry, ensuring exchanges comply with anti-money laundering (AML) and Know Your Customer (KYC) laws.
Here are the top five crypto platforms accepting Philippine Peso (PHP) deposits:
- Bybit – Best overall exchange for Filipinos
- OKX – Top choice for DeFi products
- Coins.ph – Leading local exchange
- Binance – Popular for futures trading
- KuCoin – Ideal for altcoins and new tokens
👉 Compare fees and features across top exchanges
Top Crypto Trading Platforms in the Philippines
We evaluated exchanges based on BSP compliance, PHP deposit methods, security, and fees. Below is a breakdown of the top five:
| Exchange | Cryptos Listed | Trading Fee | PHP Deposit Methods | Key Features |
|----------|----------------|-------------|----------------------|--------------|
| Bybit | 1,700+ | 0.1% | Bank Transfer, GCash, PayMaya, Cards | Copy Trading, TradeGPT, Staking |
| OKX | 350+ | 0.2% | Bank Transfer, GCash, Cards | DeFi Hub, NFT Marketplace |
| Coins.ph | 90 | 0.25% | GCash, 7-Eleven, Cash | Bill Payments, Local Compliance |
| Binance | 350+ | 0.1% | Cards | Binance Earn, Launchpad |
| KuCoin | 700+ | 0.1% | Bank Transfer, GCash | GemSPACE, Trading Bots |
1. Bybit
Bybit serves over 63 million users globally, offering 1,700+ cryptocurrencies. Key perks:
- Zero PHP deposit fees
- AI tools like TradeGPT
- Supports GCash/PayMaya
2. OKX
OKX excels in DeFi with:
- Yield farming options
- NFT marketplace
- Low-latency API for pros
Fee: 0.2% (spot trades)
FAQ
Q1: Is crypto legal in the Philippines?
A: Yes, regulated by BSP and SEC under AML/CTF laws.
Q2: How are crypto gains taxed?
A: Subject to income tax (0%-35%); capital gains tax may apply.
Q3: Can I buy Bitcoin via GCash?
A: Yes, on Coins.ph, Binance, and Bybit.
Final Thoughts
The Philippine crypto market is projected to hit $641.5M in revenue by 2025. Exchanges like Bybit and Coins.ph offer secure, PHP-friendly platforms for trading and passive income.
For newcomers:
- Choose a BSP-compliant exchange.
- Deposit PHP via local methods.
- Start with Bitcoin/ETH before exploring altcoins.