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Author: Admin | 2025-04-28
What Are the Top 5 Crypto Exchanges in the Philippines?Crypto adoption rate is on the rise in the Philippines, with 10% of Filipinos holding at least one crypto asset. Here is a list of five of the top centralized crypto exchanges that you can use in the Philippines, and sorted by monthly visits based on Similarweb data: Binance, Coins.ph, Bybit, KuCoin, and PDAX.Key Takeaways Philipines ranks 6th in Chainalysis’s 2023 crypto adoption index. In 2023, P2P trading volume in the region jumped by 40%. The nation has remained a crypto-friendly region, with over 10% of Filipinos holding at least one crypto asset. Filipino crypto investors moved over $1.5 worth of crypto assets between 2019 and 2020 and executed over 7.2 million transactions during this time period. According to Chainalysis’ 2023 crypto adoption index report, the Philippines ranks 6th in the worldwide ranking, outpacing countries like the United Kingdom and China. Philippine cryptocurrency investors are the 7th biggest users of decentralized financial services and the region saw 40% growth in P2P trading volume of BTC in 2022. State of Crypto in the PhilippinesAt least one out of every 10 Filipinos own a crypto asset, with a Coindesk report claiming a 16% penetration of crypto and blockchain technology in the region. Based on data from Statista, the average crypto revenue per Filipo crypto investor was $9.60 in 2023, and is projected to grow to $11.80 by 2028.The rise of interest in crypto in the Philippines coincides with a reported increase in inflation and suggests that Filipinos resort to crypto assets as a hedge against inflation. Based on a study by Statista, the most popular crypto assets in the Philippines include Bitcoin (known by about 93% of respondents), Ethereum, and stablecoins (Binance USD), this is according to data provided by Statista.Beyond blue chips, there is also an interest in low-cap altcoins, memecoins, and gamefi, with trending searches on CoinGecko including Baby Grok, Innova DeFi, Solidus Ai Tech, BERRY, Smooth Love Potion (SLP) at the time of writing. Crypto assets are not recognized as legal tender, but they are legal in the Philippines. The laws on digital assets mandate institutions to adopt an effective KYC policy for customers and to cooperate with national agencies in mitigating money-laundering attempts and investigating cases, especially where it concerns crypto assets. Capital gains taxes on crypto income are as high as 15% in the Philippines, with most trading activities taking place on centralized and decentralized exchanges.Now, let’s take a look at some of the top crypto exchanges in the PhilippinesBinance – Biggest Centralized Crypto ExchangeBinance is the largest cryptocurrency exchange by daily trading volume. It offers crypto trading services for investors in several Asian countries including the Philippines.
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