Comparison of Bit vs Coins.Ph [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bit vs Coins.Ph comparison!

Your expert: Alejandro Borja

Bit

Your expert: Xavier Tarrasó

Coins.Ph

Main points

Fees

0.07%/0.04%

Earns

Yes

Customer service

3/5

≤3,99%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.6 – Reasonable fees but higher for certain advanced trading options.

3.8 – Reasonable fees with strong local support in the Philippines.

Level

0.07%/0.04%

≤3,99%

Brief explanation

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.

Coins.ph maintains a simple and transparent fee structure, which is a significant advantage for users. The platform charges a spread on buy and sell transactions, typically around 0.5% to 1%, which is competitive within the industry. This spread varies depending on the specific cryptocurrency and market conditions. Additionally, for transactions such as sending money or paying bills directly from the wallet, minimal fees are applied, which are clearly outlined on their website. This approach helps users manage their costs effectively while engaging in various cryptocurrency transactions.

Bit

Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.

Coins.Ph

Regulated Security: Coins.ph operates under the regulatory oversight of the Bangko Sentral ng Pilipinas (BSP), ensuring compliance with local financial regulations and standards.
High Trading Volume and Liquidity: Coins.ph consistently shows robust trading volumes, demonstrating a healthy trading environment which indicates reliability and a stable trading platform.
Reputation and Reviews: Having established a significant presence since 2014, Coins.ph is well-regarded for its service quality and customer focus, with positive reviews from a vast user base across the Philippines.
Transparency: Coins.ph maintains a high level of transparency in its operations, particularly with clear information on fees and the security measures it employs to protect user assets.
Customer Service: The platform is known for its excellent customer support, providing users with a reliable resource for any issues or inquiries, which enhances user trust and satisfaction.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Unknown

Betur Inc. dba Coins.ph

Regulation

Regulation not specified

Regulated in Filipinas

Year founded

Unknown

2014

Founder

Unknown

Ron Hose

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Bit	FEATURES	Coins.Ph
Allows small minimum trades, accessible for those looking to start with modest amounts.	Minimum Trade	The minimum trade amount varies by cryptocurrency, with popular currencies like Bitcoin having very small minimum requirements, allowing for micro-transactions.
Competitive fees across trading types, appealing to high-volume traders due to lower costs.	Trading and Transaction Fees	Coins.ph charges competitive rates, typically lower than many other licensed exchanges in the region. This includes a spread on buy/sell transactions and minimal fees for crypto transfers.
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.	Number of Cryptocurrencies	Coins.ph offers over 50 cryptocurrencies, providing a diverse range of options for traders.
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.	Crypto-to-Crypto Trading Pairs	The platform supports numerous trading pairs involving major cryptocurrencies and Philippine Pesos, catering extensively to local market needs.
The website provides clear and detailed information about fees, policies, and trading options.	Website Transparency	The Coins.ph website provides clear information on fees, processes, and security measures, enhancing user trust and compliance transparency.
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.	Credit/Debit Card	Coins.ph does not offer an exchange card for in-store purchases.
High-level security storage solutions including cold storage options to protect user assets.	Storage Offering	Coins.ph offers a secure digital wallet service with robust security measures including 2FA. Highly secure with a user-friendly interface.
Offers staking options but with limited rewards compared to leading competitors.	Staking and Rewards	Currently, Coins.ph does not offer staking services for earning rewards on crypto assets. This is a significant area for potential growth and user engagement.
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.	Mobile App and Desktop	Both mobile and desktop interfaces are available, with the mobile app being particularly praised for its user-friendly design. Excellent accessibility and usability across devices.
Customer service is available, but response times can vary, impacting user experience during peak times.	Customer Service	Known for its effective customer service with multiple channels including live chat and email support. While generally good, there is room for faster response times and extended support hours.
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.	Deposit and Withdraw	Users can easily deposit and withdraw funds using various methods including bank transfers, credit/debit cards, and even through physical retail partners. Highly accessible but could benefit from reduced fees and faster processing times for certain methods.

Key features

Analysis tools

Basic charting tools

Basic tracking and charting

Mobile APP

Security

High 4,6/5

Additional features

Spot trading, margin trading, lending services, OTC trading

Crypto-to-fiat services, bill payments, mobile top-ups, staking

Anonymity

Yes

Key points

Available cryptocurrencies

30+

10+

User-friendliness

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.

Features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.

Provides good value for money with competitive fees and strong local support in the Philippines, making it a good choice for regional users.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore

Philippines

Best for

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.

Suitable for users in the Philippines looking for a reliable platform with local support and competitive fees.

Base currencies available

JPY, USD, EUR, BTC

PHP, BTC

Account

Trading

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.

Coins.ph is a popular exchange in the Philippines, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.

Coins.ph is popular in the Philippines, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.

Coins.ph offers a seamless and user-friendly account opening process. Users need to provide personal information, verify their identity, and typically get their account approved within a day. It’s efficient and secure.

KYC required?

Yes

Customer Service

BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Coins.ph offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in the Philippines.

Security

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.

Coins.ph offers robust security features, including 2FA and cold storage. It is regulated by Philippine authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.

Xavier Tarrasó

As an expert analyzing Coins.ph, I highly recommend this platform for users in the Philippines and Thailand looking for a user-friendly and secure way to engage with cryptocurrencies. Its integration with local financial services, compliance with regulatory standards, and competitive fees make it an excellent choice for both new entrants and seasoned traders in the crypto space. Whether you’re looking to simply buy and sell crypto or use it for everyday transactions like bill payments and remittances, Coins.ph provides a reliable and convenient service.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Bit vs Coins.Ph [ 2024 ]

Bit

Coins.Ph

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bit

Coins.Ph

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bit and Coins.Ph