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The growth of cryptocurrency in the Philippines is unstoppable. If you’re looking for proof, the country’s transactions in virtual currency, including cryptocurrency, jumped by 71% during the first half of 2021. This means that the said transactions hit PHP 106 billion from PHP 62.12 billion in the same period of 2020. The Bangko Sentral ng Pilipinas (BSP) even claims that the pandemic keeps serving as a catalyst to the digitalization of such transactions. [1]

If you’re an investor, chances are you’ve considered riding the trend in the hopes of making it big―or you might have already dipped your toes in this pursuit, which is why you’re reading this article.

Increasing your odds of success in the crypto trade requires proper management of assets, something that you can do when you’re equipped with the right apps. Here’s everything you need to know about crypto apps and platforms in the Philippines.

What is a Crypto App?

Everything about cryptocurrency, from investing to trading, happens online. And to initiate or participate in a crypto-related activity, you need a specialized tool. 

Simply put, a crypto app is a type of software that allows you to store, buy, and sell cryptocurrencies. It may also let you track cryptocurrency prices and exchanges, which in turn allows you to make a sensible decision. Moreover, crypto apps are designed for mobile and desktop devices.

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What are the Types of Crypto Apps?

Because there are many activities involved in dealing with cryptocurrencies, different kinds of apps are designed to help investors take part in them. You may need more than one kind of app to make the management of your investments much easier and more efficient.

Below are the basic types of crypto apps.

Crypto Trading Apps

These are platforms that allow you to buy, sell, and trade cryptocurrencies. Crypto investors and enthusiasts may also refer to these apps as exchanges. You may think of them as the crypto counterpart of popular online stock platforms, such as COL Financial or Philstocks. 

Here are some of the most popular crypto trading apps in the Philippines.

1. Binance

crypto apps - binance

Binance calls itself the world’s largest crypto exchange. After all, its platform facilitates 1,400,000+ transactions per second.[2] It allows users to buy, sell, and trade bitcoins, Ether, and other altcoins (all currencies other than bitcoin).

The Binance trading platform works in conjunction with other components of the Binance ecosystem, namely Binance Chain, Binance Academy, Binance Charity, and Binance Labs, among others.

Read more: How Much Bitcoin Do You Need to Buy a Car?

2. Coins Pro

crypto apps - coins pro

Developed by Coins.ph, Coins Pro dubs itself as the Philippines’ first digital currency exchange. Through this platform, you can trade the following cryptocurrencies: bitcoin, Ethereum, bitcoin cash, and Ripple. One outstanding feature of Coins Pro is that it allows unlimited trading volumes at a much lower fee. Balance and deposits are also unlimited.

You can access this exchange by logging in to your Coins.ph app. It must be noted, though, that Coins Pro is in Private Beta mode at the moment. This means that Coins.ph has only limited the use of the platform to select users.[3]

3. PDAX

crypto apps - pdax

If you want to buy and sell bitcoin and other crypto currencies directly with Philippine peso, the Philippine Digital Asset Exchange (PDAX) makes a good choice. PDAX was developed to democratize crypto investing after seeing the massive digital transformation taking place in the finance industry. For your peace of mind, this crypto trading app is regulated and licensed by the Bangko Sentral ng Pilipinas (BSP).

The app supports a wide variety of coins, such as bitcoin, Ether, Uniswap, and more. It has partnerships with leading fintech companies, such as BitMEX, Consensys, Ripple, CMT Digital, and UnionBank.

4. eToro

crypto apps - etoro

You may know eToro as a trading platform for stock investors. But did you know that you can also buy and sell cryptocurrencies using this app? eToro prides itself on being a beginner-friendly platform. It allows users to trade a wide variety of popular cryptocurrencies, such as bitcoin, Cardano, Ethereum, Binance coin, and IOTA.

eToro also executes staking on behalf of its users. For those who are not familiar with staking, it’s a process of committing your crypto holdings to support a blockchain network and confirm transactions. In return, you gain rewards or earn interest. It can be quite complicated. But if you want to learn more, take a look at this primer.[4]

5. Coinbase

crypto apps - coinbase

Started in 2012, Coinbase can be easily considered as one of the most trusted exchanges in the crypto world. Other than keeping the crypto assets in secure offline storage, the company protects them with an insurance policy.

Coinbase currently has more than 70 million verified users and is available in over 100 countries, including the Philippines. You can trade the following cryptocurrencies on this platform: bitcoin, Ethereum, Cardano, and Solana.

If you’re a newbie, you’ll surely love this crypto trading app’s unique feature called Coinbase Earn. Coinbase Earn aims to educate users about different cryptocurrencies through video tutorials. After each tutorial, you’ll be given a quiz to test if you’ve really learned something. And if you complete the quiz, you’ll receive crypto in Coinbase. Talk about putting earning in learning.

Digital Wallets

Digital wallets are simply digital repositories of your crypto assets. Other than keeping your cryptocurrencies and earnings, digital wallets can store your passwords and authenticate transactions. Some crypto trading platforms, such as the ones featured above, have a built-in wallet feature.

But if you’re looking for a separate digital wallet, here are some crypto apps you may want to consider.

1. Coins.ph

crypto apps - coinsph

Founded in 2014, Coins.ph is a mobile app that allows users to access online banking and payment services for the following activities even without a bank account: online shopping, purchase of game credits, and local and international remittances.

Moreover, Coins.ph can serve as your digital crypto wallet. What makes it a good choice for investors is that it can store multiple cryptocurrencies, such as bitcoin, Ethereum, Uniswap, Smooth Love Potion, and Axie Infinity Shards.

2. Trust Wallet

crypto apps - trust wallet

If you’re the type of crypto investor who also buys non-fungible tokens (NFTs), you may want to try Trust Wallet, the official crypto wallet of Binance.

This wallet lets you collect and organize your digital art collectibles and NFT assets in one place. It also stores cryptocurrencies, such as Dash, Ethereum, Filecoin, Doge, and more. Currently, there are over 10 million people using Trust Wallet.

3. MetaMask

crypto apps - metamask

Crypto gamers, token traders, and blockchain newbies can benefit from the services of MetaMask. Also available as a browser extension, this wallet can store the following tokens and crypto assets: Axie Infinity SLPs, Compound, Gitcoin, Uniswap, Aave, Maker, OpenSea, and Rarible. Moreover, it supports non-fungible digital properties, such as collectibles.

If you’re a developer, you may find MetaMask as an ideal wallet. This is because it’s a community-based platform that encourages contribution from developers around the world.

Related: Crypto Gaming 101: How to Play and Earn Online in the Philippines

4. Exodus

crypto apps- exodus

Serious crypto investors usually manage multiple currencies at once. If you’re this type of investor, you’re supposed to use a powerful wallet. In this case, Exodus might be the cryptocurrency app that you need.

Exodus currently supports 153 cryptocurrencies. Other than storing leading coins, such as bitcoin and Ethereum, this wallet can accommodate Chainlink, Cosmos, BitTorrent, Neo, Paxos, Salt, Medishares, WeTrust, FirstBlood, and more!

With Exodus’ usability and simplicity, finance publishers like Investopedia consider it a great choice for crypto beginners. Its other products and services include staking and hardware wallets in collaboration with Trezor.

Data-Based Apps and Insights Aggregators

Cryptocurrency apps under this category are designed to collect and present important data, such as the cryptocurrencies’ prices, market cap,* circulating supply, and global ranking. You may treat these aggregators like a stock market ticker or an investment analytic tool, such as Investagrams.

Using this app, you can see the movement of the currencies in real time, thus helping you create a wise investment decision. Here are some of the most popular data-based crypto apps.   

1. CoinMarketCap

Founded in 2013, CoinMarketCap claims that it’s the world’s most referenced price-tracking platform for crypto assets. Underscoring its reputation and reliability, the company says that the U.S. government uses its data for research and reports. Currently, CoinMarketCap is owned by Binance.

2. Cryptowatch

Cryptowatch is a paid application that lets you track your crypto investments over time through the use of customizable charts and watchlists. It also gives instant price alerts, which aid in decision making.

Developed by Kraken, this crypto app is capable of scanning more than 10,000 markets across over 30 leading exchanges, including FTX, Binance, Coinbase Pro, and more. The charts are moving in real time, thus letting you track prices with precision.

3. CoinGecko

crypto apps - coingecko

CoinGecko is a Singapore-based company that presents data on digital currency prices, market capitalization, and 24-hour volume (which shows the total value of coins traded in the last 24 hours).  Just like other leading aggregators, CoinGecko also tracks the trading of NFT assets.

The company has been featured in numerous publications, such as the following: The Wall Street Journal, Forbes, Quartz, CNBC, and The Block.

4. CoinStats

Got multiple crypto assets to manage? CoinStats provides portfolio management services. It allows you to track each of your assets from one dashboard. Currently, it supports about 400 platforms and exchanges, including Binance and Coinbase.

One stellar feature of this app is that it provides users with research. The data that you can pick up from the said research may help you find the next big coin or plan your investment strategy. Moreover, CoinStats doubles as a wallet that allows you to buy coins with Apple Pay or your debit card.

*CRYPTOCURRENCY MARKET CAP MEANING: Also known as crypto market capitalization, the crypto market cap is simply the total value of a cryptocurrency. You can arrive at this value by multiplying the coin’s price with the number of coins being circulated.

How to Choose the Right Crypto App or Platform

crypto apps - how to choose the right crypto app

Be ready to invest in crypto by having the right set of apps. But first, do your due diligence to make sure that the apps you’re going to use actually suit your goals and expertise.

1. Know Your Investment Skillset

If you’re a beginner, it may not be wise to get three different platforms to manage your investment. You may run the risk of being overwhelmed since you’re switching from one app to another and absorbing loads of data. It’s recommended that you go for a single app that has multiple functions. Some crypto wallets, for instance, not only allow you to store your coins but also let you track the market and trade your crypto.

2. Check the App’s Usability

Crypto market data can be quite challenging to digest if you’re a newbie. So see to it that your app has a good user interface, which not only makes for seamless navigation but also presents information in an easy-to-understand manner. On top of that, integrating your other tools or related apps into your main application also becomes effortless.  

3.  Look at the Fees

Good crypto exchanges not only facilitate easy currency trades. They also have low or manageable fees. Before downloading the app, check the prices of the service and the withdrawal costs. You may not realize it, but fees can actually eat away at your projected returns.

3. Gauge the Security

You’re talking about money here, so make sure that your crypto app’s security features are impeccable. But don’t just rely on the existing security parameters of your app. You must also do your part by coming up with strong passwords, only using a trusted internet connection, and using a hardware wallet.

Final Thoughts

Part of the appeal of cryptocurrencies is that they provide hope for many. Stories of people generating wealth through bitcoin and its contemporaries have inspired others to take part in the game. The volatility of the trade is also thrilling, something that bold and adventurous investors are living for.

If you want to invest in cryptocurrency, get to know your tools first. In this case, they’re the crypto apps that won’t only store your assets but also provide you with insights for better decision making. Read reviews, ask for recommendations, and watch demonstrations on YouTube―do what you must to find the ideal apps.

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