When you're looking for a crypto exchange in the Philippines, safety isn't just a nice-to-have-it's the only thing that matters. With over $1.34 billion stolen from exchanges in 2024 alone, according to Chainalysis, you can't afford to gamble with your Bitcoin or Ethereum. That's where COEXSTAR comes in. It's one of the few crypto exchanges in the country officially licensed by the Bangko Sentral ng Pilipinas (BSP), making it a rare example of a regulated platform in a space full of wild west operators.
What Makes COEXSTAR Different?
Most crypto exchanges you hear about-Binance, Coinbase, Kraken-are global giants. They offer hundreds of coins, advanced trading tools, and deep liquidity. But if you're in the Philippines, those platforms don't always meet local legal requirements. COEXSTAR was built for Filipinos. It launched on October 7, 2019, after getting its license from the BSP on March 21, 2019. That’s not just a stamp of approval-it’s a legal obligation. The exchange had to pass strict security checks, comply with AMLC (Anti-Money Laundering Council) rules, and submit to ongoing oversight by the country’s central bank. This isn’t just marketing. It means COEXSTAR follows the same financial rules as banks. You can’t just sign up with an email and start trading. You need to complete full KYC (Know Your Customer) verification. Your ID, proof of address, and sometimes even a selfie with your document are required. It’s a hassle, yes-but it’s also the reason your funds are less likely to be tied to criminal activity. And in a region where North Korean hackers targeted over 47 exchanges in 2024, that’s a big deal.Security Features: What’s Actually on the Platform?
COEXSTAR doesn’t just say it’s secure-it implements industry-standard protections that most smaller exchanges skip.- Two-factor authentication (2FA): Every account must have it enabled. No exceptions. This blocks 99% of account takeovers that rely on stolen passwords.
- Cold storage: The vast majority of user funds are kept offline in hardware wallets, disconnected from the internet. This is the same method used by institutional players like Coinbase and Bitstamp. If a hacker breaches the system, they can’t touch the bulk of the assets.
- Withdrawal whitelisting: You can pre-approve specific wallet addresses. Any withdrawal to a new address requires manual approval. This stops thieves from draining your account even if they get your password.
- End-to-end encryption: All data transmitted between your device and the platform is encrypted using TLS 1.3, the current gold standard.
What Coins Can You Trade?
When COEXSTAR launched, it offered 10 major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Cardano (ADA), Polkadot (DOT), Chainlink (LINK), Stellar (XLM), and Dogecoin (DOGE). That’s it. No obscure altcoins, no memecoins, no tokenized real estate. That’s a deliberate choice. The exchange isn’t trying to be everything to everyone. It’s focused on the coins Filipinos actually use-those with high liquidity, proven track records, and regulatory clarity. If you’re a beginner or someone who just wants to buy BTC or ETH without getting lost in 500 confusing tokens, this is a strength. But if you’re an active trader chasing the next 10x altcoin, you’ll hit a wall. Compare that to Binance, which lists over 350 coins, or KuCoin with 700+. COEXSTAR’s selection is small, but it’s clean. No pump-and-dump schemes. No rug pulls. Just the core assets.
Trading Experience: Simple, Not Sophisticated
The interface is straightforward. No fancy charts with 20 indicators. No margin trading, no futures, no leveraged positions. You can place market and limit orders. That’s it. The platform doesn’t have advanced tools like stop-loss trailing, OCO orders, or API access for bots. This isn’t a flaw-it’s a design decision. COEXSTAR targets everyday users, not professional traders. If you’re buying crypto to save, hedge against inflation, or send money abroad, you don’t need complex tools. You need reliability. And that’s exactly what COEXSTAR delivers. The mobile app works smoothly on Android and iOS. Deposits via local bank transfer (PESONet, InstaPay) are fast and low-cost. Withdrawals to your personal wallet take 15-30 minutes, which is faster than many global exchanges during peak times.Why It’s Not for Everyone
Let’s be clear: COEXSTAR isn’t the best crypto exchange overall. It’s the best regulated crypto exchange in the Philippines. If you’re a Filipino citizen or resident, and you want to trade crypto without worrying about legal gray areas, COEXSTAR is a safe bet. But if you’re looking for:- More than 10 coins
- Margin trading or leverage
- Staking rewards on dozens of tokens
- High-volume trading with tight spreads
The Bigger Picture: Why Regulation Matters
In 2023, hackers stole $2.38 billion from crypto exchanges worldwide. In 2024, that number climbed as North Korean cybercrime groups targeted exchanges across Asia. The Bybit hack in February 2025-where $1.5 billion in ETH vanished-proved that even top-tier platforms aren’t immune. Regulation doesn’t prevent all hacks. But it forces exchanges to do the basics right: audits, insurance reserves (where possible), user verification, and transparency. COEXSTAR doesn’t claim to be perfect. But it’s accountable. It answers to the BSP. It follows AMLC rules. It doesn’t operate in the shadows. That’s more than you can say for 90% of the exchanges Filipinos use.
Who Should Use COEXSTAR?
- Filipino residents who want to buy or sell crypto legally
- Beginners who want a simple, no-nonsense platform
- Long-term holders who prioritize security over trading features
- People sending crypto abroad via stablecoins like USDT or USDC
Who Should Avoid COEXSTAR?
- Advanced traders who need leverage, futures, or API access
- Altcoin hunters looking for new, low-cap tokens
- Non-residents without a Philippine ID or local bank account
Final Verdict: Safe, But Limited
COEXSTAR isn’t flashy. It doesn’t have a billion-dollar valuation or celebrity endorsements. But it’s one of the few crypto exchanges in Southeast Asia that plays by the rules-and actually follows them. In a market where scams and unregulated platforms dominate, that’s rare. If your goal is to own Bitcoin or Ethereum without risking your funds to a sketchy exchange, COEXSTAR is one of the safest options in the Philippines. It’s not the most powerful platform, but it’s the most trustworthy. The real question isn’t whether COEXSTAR is good. It’s whether you’re willing to trade features for safety. For many Filipinos, that’s not a trade-it’s a necessity.Is COEXSTAR a legitimate crypto exchange?
Yes. COEXSTAR is officially licensed by the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines. It obtained its license on March 21, 2019, and began operations on October 7, 2019. It is one of the few crypto exchanges in the country that operates under full regulatory oversight, requiring compliance with AMLC and KYC rules.
What cryptocurrencies does COEXSTAR support?
COEXSTAR supports 10 major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Cardano (ADA), Polkadot (DOT), Chainlink (LINK), Stellar (XLM), and Dogecoin (DOGE). It does not list obscure altcoins or memecoins, focusing instead on established, high-liquidity assets.
Is COEXSTAR safe for storing crypto long-term?
COEXSTAR uses cold storage for the majority of user funds, meaning most assets are kept offline and protected from online hacks. It also requires two-factor authentication and withdrawal whitelisting. These are industry-standard security measures that significantly reduce the risk of theft. However, for long-term storage, it’s still recommended to transfer your crypto to a personal hardware wallet.
Does COEXSTAR offer margin trading or futures?
No. COEXSTAR only offers spot trading with market and limit orders. It does not support margin trading, leverage, futures, or options. This limits its appeal to advanced traders but makes it safer and simpler for beginners and long-term holders.
Can I use COEXSTAR if I’m not from the Philippines?
COEXSTAR requires Philippine identification and a local bank account for KYC verification. It is designed for residents of the Philippines and does not accept users from other countries. Non-residents should look for globally regulated exchanges like Binance or Coinbase.
Are there any known security breaches on COEXSTAR?
There are no publicly reported security breaches or hacks involving COEXSTAR since its launch in 2019. The exchange underwent third-party security audits by Nullforge Security Inc. to meet BSP requirements and has maintained a clean record. However, like all exchanges, it remains a potential target for cybercriminals.
How do I deposit funds into COEXSTAR?
You can deposit Philippine pesos (PHP) via local bank transfers using PESONet or InstaPay. These methods are fast, typically processing within minutes. There are no deposit fees. Once funds are in your peso wallet, you can instantly buy Bitcoin, Ethereum, or other supported cryptocurrencies at live market rates.
What are the trading fees on COEXSTAR?
COEXSTAR charges a flat 0.25% fee on all trades, whether you’re buying or selling. This is slightly higher than global exchanges like Binance (0.1% for spot trades), but it’s standard for regulated local platforms. Withdrawal fees vary by cryptocurrency but are generally low and transparently listed on the platform.
So let me get this straight - a Philippine exchange is safer than Binance because it’s boring? That’s like saying a locked cardboard box is safer than a vault because it doesn’t attract attention. The real danger isn’t the hackers - it’s the illusion of safety. Regulation doesn’t stop theft, it just makes you feel better while your coins sit idle.
They’re not secure. They’re just compliant. And compliance is the opiate of the masses.
Meanwhile, the real crypto pioneers are building decentralized, non-KYC systems that don’t need a central bank’s permission to exist. COEXSTAR isn’t innovation - it’s crypto’s version of a bank branch in a mall.
Stop romanticizing bureaucracy. The future isn’t regulated. It’s permissionless.
Regulation is a form of control disguised as protection. The BSP does not care about your coins. It cares about controlling capital flows. KYC is surveillance. Cold storage is a marketing gimmick - the same servers still hold your private keys. You think they can’t be compromised because they’re licensed? History says otherwise. The SEC didn’t stop Bernie Madoff. The BSP won’t stop a rogue insider or a zero-day exploit.
COEXSTAR is not safe. It is merely sanctioned. And sanctioned things are the first to be seized when the state decides to change the rules.
True ownership means no ID. No bank. No government. No license.
Trust code. Not bureaucrats.
0.25% fee for spot trading? In 2025? That’s highway robbery. Binance charges half that and has 100x more liquidity. This platform is a relic wrapped in compliance paperwork.
They don’t offer futures because they can’t handle volume. They don’t list altcoins because they’re afraid of regulatory blowback. This isn’t safety - it’s stagnation dressed up as responsibility.
Philippine users are being sold a lie. You want safety? Use a hardware wallet and buy on P2P. Stop paying premiums for a glorified ATM with KYC.
I appreciate the clarity here. A lot of people get swept up in the hype of trading platforms and forget the basics: your money should be protected, not turned into a casino.
COEXSTAR’s approach isn’t glamorous, but it’s thoughtful. For someone new to crypto, especially in a country where scams are rampant, having a regulated, simple platform is a gift. No need to chase 10x coins if your goal is to hold Bitcoin as a hedge against inflation.
It’s okay to be basic. It’s okay to not have futures. What matters is that you’re not getting ripped off.
And yes, the lack of Reddit buzz? That’s a feature, not a bug. Loud platforms are usually the ones that vanish overnight.
Let’s be honest - the BSP license is a sham. The central bank has zero technical expertise in blockchain. They’re just checking boxes: KYC? Check. AML? Check. Third-party audit? They hired Nullforge - a firm that also audited a dozen exchanges that got hacked last year.
And cold storage? That’s just a buzzword. The exchange still holds your keys. You don’t control your private keys - you’re just renting storage.
And the 10 coins? That’s not focus. That’s fear. They’re avoiding any coin that could be classified as a security. This isn’t a crypto exchange - it’s a compliance shell game.
Meanwhile, North Korean hackers aren’t targeting regulated exchanges because they’re secure. They’re targeting them because they know they’re slow to react. Slow systems are soft targets.
Simple is good. Safe is better.
If you’re just trying to buy BTC and hold it, this is the easiest, most trustworthy way to do it in the Philippines. No drama. No confusion. No shady tokens.
Don’t overcomplicate it. You don’t need futures to build wealth. You just need consistency and security.
COEXSTAR isn’t for traders. It’s for people who want to own crypto without losing sleep.
And that’s worth something.
While the platform’s limitations are evident, one must consider the broader context of financial inclusion in emerging markets. In jurisdictions where regulatory frameworks are nascent, the presence of a licensed entity that adheres to international standards for anti-money laundering and customer verification represents a significant advancement.
It is not the role of a retail-focused exchange to compete with institutional-grade platforms. Rather, its mandate is to provide a legally compliant, accessible gateway for the unbanked and underbanked to participate in the digital asset economy.
The absence of advanced trading features is not a deficiency - it is a deliberate safeguard against speculative overreach, which has historically led to mass financial harm in unregulated markets.
Furthermore, the emphasis on cold storage and withdrawal whitelisting demonstrates a commitment to operational integrity that exceeds the practices of many unlicensed platforms operating under the guise of innovation.
One must evaluate COEXSTAR not by the metrics of global exchanges, but by the standards of its intended user base - Filipinos seeking legitimacy, not leverage.
I’ve been using COEXSTAR for two years now. No issues. No delays. No sketchy withdrawals.
I started with $200 in BTC. Now I’ve got over $3k. Not because I traded like a pro - but because I held.
The app is slow sometimes, sure. But it works. And when I sent crypto to my cousin in Cebu? It cleared in 20 minutes. No fees. No drama.
I don’t need 500 coins. I need peace of mind.
And honestly? I’d rather have a quiet exchange that follows the rules than a flashy one that disappears next month.
People are acting like COEXSTAR is the enemy because it doesn’t have futures 🤡
Bro… you’re not a trader. You’re just bored.
For the average person in the Philippines trying to save in crypto? This is the best option out there. Simple. Safe. Legal.
Stop comparing it to Binance. That’s like comparing a bicycle to a Ferrari and saying the bike is broken because it can’t go 200mph.
It’s not supposed to.
And yeah, no Trustpilot reviews? That’s because people who actually use it don’t feel the need to post. They’re just holding.
Quiet = good in crypto.
Trust the silence 🙏
COEXSTAR is a honeypot. The BSP license? A trap. They’re collecting KYC data - names, addresses, selfies - and selling it to third parties. Or worse - handing it over to U.S. intelligence.
Remember how the Philippines got blacklisted for AML failures? Now they’re playing nice with the West. COEXSTAR is the face of that compliance.
Every transaction you make is logged. Every withdrawal tracked. You think your BTC is safe? It’s not. It’s being monitored.
And the ‘cold storage’? That’s just a front. The real wallets are in a data center in Singapore, controlled by a shell company owned by a firm linked to a Chinese state-owned bank.
They’re not protecting you. They’re profiling you.
And the 10 coins? They’re the only ones approved by the U.S. Treasury. You’re not choosing crypto. You’re choosing a sanctioned asset list.
This isn’t safety. It’s surveillance with a user-friendly interface.
The most valuable takeaway from this review is not the technical details - it’s the philosophy behind the platform. COEXSTAR prioritizes user protection over profit maximization. In an industry where most platforms are designed to extract value from retail users, this is a rare and commendable deviation.
By limiting asset selection, avoiding leverage, and enforcing strict KYC, COEXSTAR reduces the likelihood of user harm - not just from external hackers, but from internal behavioral risks like overtrading and speculative addiction.
The absence of advanced features is not a failure of engineering; it is an ethical design choice.
Regulation, when implemented thoughtfully, does not stifle innovation - it channels it toward sustainable, user-centered outcomes.
For the Philippines, where financial literacy remains uneven, this model is not just appropriate - it is necessary.
Okay so COEXSTAR is ‘safe’ but you can’t trade Dogecoin with leverage? What is this, 2017?
I’m not even mad - I’m just confused. Why would anyone use this? You can’t even short anything? No memecoins? No staking? No API?
This isn’t an exchange. It’s a crypto museum.
And the fact that they don’t have reviews? That’s because no one who actually trades uses it. Everyone’s on Binance or P2P.
They’re not safe. They’re just irrelevant.
I used to think regulation was just red tape until I saw what happened to my cousin’s account on a ‘no-KYC’ exchange last year. He got hacked. Lost everything. No recourse. No help.
COEXSTAR’s process is annoying - yes, the selfie with your ID feels invasive. But after what happened to him? I’d rather fill out 10 forms than lose my life savings.
And the fees? Yeah, 0.25% is higher than Binance. But I’m not trading 10 times a day. I’m buying BTC once a month. So it doesn’t matter.
Also - their customer service actually replies. I asked a question about withdrawal limits and got a real human reply in under 12 hours. No chatbot. No ‘check our FAQ’ nonsense.
That’s worth more than 100 altcoins.
As someone who grew up in Manila and now lives in LA, I’ve used both global and local exchanges. COEXSTAR is the only one that actually feels like it was built for people like me.
I can deposit via InstaPay. I can withdraw to my wallet in under 30 minutes. I don’t have to jump through hoops with international wire transfers.
And the fact that it’s regulated? That means when my mom asks me if it’s legit - I can say yes without hesitation.
It’s not sexy. But it’s real.
And in crypto, real matters more than hype.
The cold storage claim is statistically dubious. Independent audits of regulated exchanges show that 73% still maintain hot wallet exposure exceeding 15% of total assets - even when claiming ‘majority’ cold storage. The BSP does not mandate disclosure of wallet distribution. Therefore, the assertion is unverifiable and potentially misleading.
Moreover, withdrawal whitelisting is easily bypassed via social engineering - as demonstrated in the 2024 CEX breach in Indonesia where support staff were bribed to approve fraudulent address additions.
2FA? Useless if the user employs SMS-based 2FA - which COEXSTAR permits. The industry standard is TOTP or hardware keys. This platform does not enforce it.
Thus, the entire security narrative is performative. The platform is compliant - not secure.
Let’s not pretend this is about safety. It’s about control.
The BSP doesn’t want Filipinos trading crypto. They want them trading pesos.
COEXSTAR is the perfect tool - it gives the illusion of choice while keeping users locked into a narrow, regulated corridor.
They don’t list altcoins because they’re afraid of capital flight.
They don’t allow futures because they don’t want people betting against the peso.
This isn’t a crypto exchange. It’s a financial gatekeeper.
And you’re paying 0.25% to be herded.
I’ve been helping my parents get into crypto, and COEXSTAR was the only platform I felt comfortable recommending.
They’re nervous. They’ve heard stories. They don’t understand blockchain. But they understand ‘licensed by the central bank.’
That’s enough for them.
And honestly? That’s enough.
Crypto shouldn’t be for experts only. It should be for everyone who wants to protect their savings.
COEXSTAR makes that possible - without fear, without confusion.
That’s not boring. That’s brave.
Correction: I just checked - COEXSTAR’s withdrawal fees for USDT are 50 PHP. That’s $0.90. On Binance, it’s $0.10.
So you’re paying 9x more for ‘safety.’
And they still don’t offer USDC.
That’s not safety. That’s greed wrapped in compliance.