Comparison of Pdax vs Coinsbank [ 2024 ]

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

Your expert: Alejandro Borja

pdax

Pdax

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

coinsbank

Coinsbank

  • Threenvest valuation: 2,5/5
  • US legal: No
  • Security: Low 2/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,40%/0,50%

Earns

No

Customer service

3/5
0,20%/0,50%

Fees

Yes

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

3.9 – Competitive fees with strong local support in the Philippines.
3.7 – Competitive fees with additional benefits for cardholders.

Level

0,40%/0,50%
0,20%/0,50%

Brief explanation

PDAX implements a straightforward fee structure which focuses primarily on trading fees and some transactional costs. Trading fees on PDAX range between 0.40% and 0.50%, depending on the specific market order type—whether it’s a maker or taker order. This fee is slightly above the global average for cryptocurrency exchanges but is justified within the context of a regulated exchange operating under the auspices of the Bangko Sentral ng Pilipinas (BSP). Additionally, while crypto deposits are free, PDAX charges variable fees for fiat deposits and withdrawals which are dependent on the chosen payment method, enhancing flexibility for users. This structure ensures that while users enjoy a secure trading environment, they are also aware of the costs associated upfront.
CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

Pdax

pdax
Read PDAX review
  • Regulatory Compliance: PDAX is licensed and supervised by the Bangko Sentral ng Pilipinas (BSP), ensuring that it adheres to strict financial regulations and provides a secure trading environment for its users.
  • Security Measures: PDAX prioritizes user security with robust protection mechanisms, including multi-factor authentication and cold storage for the majority of user funds, ensuring safety against potential cyber threats.
  • Customer Service: PDAX offers comprehensive customer support with multiple channels, including a detailed FAQ section, email support, and social media engagement, ensuring users receive timely assistance and guidance.
  • Trading Volume and Liquidity: As one of the leading exchanges in the Philippines, PDAX maintains a healthy trading volume and liquidity, which facilitates efficient trading and provides users with better price discovery and trade execution.
  • Transparency: PDAX operates with high transparency, regularly updating users about changes in service, fee structures, and other essential operational aspects, fostering trust through clear communication.
  • Pros
  • Regulated by Philippine central bank.
  • Supports direct PHP transactions.
  • Low entry cost for investors.
  • Cons
  • Limited international market access.
  • Fewer advanced trading features.

Read PDAX review

Coinsbank

coinsbank
Read PDAX review
  • Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.
  • Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.
  • Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.
  • Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.
  • Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.
  • Pros
  • Supports multiple fiat currencies.
  • User-friendly interface and mobile app.
  • Offers wallet, card, and merchant services.
  • Cons
  • High transaction fees.
  • Limited cryptocurrency assets.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

Read our eToro review here
etoro logotipo
Go to eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Philippine Digital Asset Exchange
CB Exchange LP

Regulation

Regulated in Filipinas
Not regulated

Year founded

2018
2016

Founder

Nichel Gaba
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Pdax FEATURES Coinsbank
PDAX allows users to start trading with as little as PHP 50 per single trade, making it accessible for beginners and those with limited capital.
Minimum Trade
The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
The trading fees range between 0.40% to 0.50%, which is moderately competitive within the region but higher compared to global averages.
Trading and Transaction Fees
CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
Supports over 37 cryptocurrencies, which is decent for a regional exchange but less compared to larger international platforms.
Number of Cryptocurrencies
Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
PDAX primarily focuses on PHP-to-crypto pairs, limiting options for those looking to trade directly between cryptocurrencies.
Crypto-to-Crypto Trading Pairs
A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
The website provides clear information about trading fees, minimum trade amounts, and other essential policies, although some users may find certain operational details lacking.
Website Transparency
The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
This lack of a dedicated card offering means that PDAX users cannot directly utilize their crypto holdings for everyday transactions outside the platform.
Credit/Debit Card
Dont’ have crypto card
Provides secure wallet services regulated under Philippine law, ensuring safety for digital assets, though it lacks some of the advanced features found in dedicated crypto wallets.
Storage Offering
Excellent security measures with cold storage options that ensure the safety of digital assets.
Currently, PDAX does not offer staking services or rewards, which is a significant drawback for users looking to earn through these mechanisms.
Staking and Rewards
Offers some staking options, but the rewards and varieties are not as competitive as other top exchanges.
The mobile app is user-friendly and provides a robust trading experience on the go, although the desktop version could be enhanced with additional trading tools.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
Offers multiple channels for support including email and social media, but there are reports of delays and the lack of immediate response options like phone support or live chat.
Customer Service
Provides various channels for support including live chat and email, although response times can vary.
PDAX supports various local payment methods, which is convenient for Filipino users. International users, however, might find options limited.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
Low 2/5

Additional features

Staking, fiat on/off ramps, PDAX Prime, institutional services
Crypto debit card, OTC trading, staking, Coinsbank wallet

Anonymity

No
No

Key points

Available cryptocurrencies

20+
Few, primarily major cryptocurrencies

User-friendliness

PDAX features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Coinsbank provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Delivers good value for money with competitive fees and strong local support in the Philippines, making it a good choice for regional users.
Delivers reasonable value for money with competitive fees and a wide range of supported cryptocurrencies, though it may lack some advanced features.

Countries of operation

Philippines
United Kingdom, Europe, United States, Canada, Australia

Best for

Best for Filipino investors seeking a reliable platform with competitive fees and strong local support.
Ideal for traders seeking a secure platform with a wide range of supported cryptocurrencies and competitive fees.

Base currencies available

PHP, BTC
USD, EUR, GBP, RUB, BTC

Account

Trading

PDAX 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.
CoinsBank provides a secure trading platform with a good selection of cryptocurrencies. It offers additional services like a wallet and card but has higher fees compared to some competitors.

Deposit and withdrawal

PDAX is popular in the Philippines, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
CoinsBank provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

PDAX provides an easy and quick account registration process. Users need to provide personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.
CoinsBank provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

PDAX provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.
CoinsBank provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

PDAX offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.
CoinsBank employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As one of the experts reviewing cryptocurrency exchanges on our website, I’ve taken a close look at PDAX. It stands out as a commendable choice for Filipino investors looking to enter the crypto space. The exchange offers a secure, regulated platform where you can trade directly with the Philippine Peso, making it exceptionally convenient. With a user-friendly interface and the support of local bank transfers, PDAX simplifies the process of buying and selling digital assets. Whether you’re new to cryptocurrencies or seeking a reliable home-market platform, PDAX provides a solid foundation to manage your digital investments.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

View all comparisons against Pdax

View all comparisons against Coinsbank

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.

More comparatives Pdax and Coinsbank