Coins.ph is a leading platform for buying, selling, and converting cryptocurrencies in the Philippines. Understanding the trading fees associated with Spot Trading and the Coins Convert feature is essential for your crypto journey.
Convert Vs. Spot Trading
Convert (Quick Buy/Sell)
The simplest way to trade on Coins.ph is through the Convert feature, which offers:
- Zero trading fees
- Instant conversions
- Direct PHP to/ from crypto exchanges
Spot Trading
For more advanced traders, spot trading provides:
- Various trade order types (Limit Order, Market Order and Stop-Limit Order)
- Tiered fee structure based on volume
- Maker and taker fees
- Access to order books and advanced features
Overview of Trading Fees on Coins.ph
Coins.ph offers two main features for trading cryptocurrencies: Spot Trade and Coins Convert. Each feature has its own fee structure, which is crucial for users to understand.
1. Spot Trade Fees
When using Coins.ph’s trading marketplace, users are subject to tiered trading fees based on their monthly trading volume. Here’s how it works:
- Monthly Trading Volume: This is the total value of your trades over a 30-day period.
- Fee Structure: The fees are tiered; the more you trade, the lower your fees can be.
VIP Fee Tiers
Coins.ph has established various VIP tiers that dictate the applicable fees based on your monthly trading volume in Philippine Pesos (PHP):
|
VIP Fee Tier |
30-Day Spot Trading Volume (PHP) |
Maker |
Taker |
|
VIP 0 |
- |
0.25% |
0.30% |
|
VIP 1 |
≥ 500,000PHP |
0.22% |
0.27% |
|
VIP 2 |
≥ 1,000,000 PHP |
0.18% |
0.24% |
|
VIP 3 |
≥ 2,500,000 PHP |
0.15% |
0.20% |
|
VIP 4 |
≥ 5,000,000 PHP |
0.12% |
0.18% |
|
VIP 5 |
≥ 10,000,000 PHP |
0.10% |
0.15% |
|
VIP 6 |
≥ 100,000,000 PHP |
0.08% |
0.12% |
|
VIP 7 |
≥ 500,000,000 PHP |
0.07% |
0.09% |
|
VIP 8 |
≥ 1,000,000,000 PHP |
0.06% |
0.07% |
|
VIP 9 |
≥ 2,500,000,000 PHP |
0.05% |
0.05% |
Key Insights
- Higher Trading Volume = Lower Fees: Increasing your trading activity can significantly reduce your fees.
- Maker vs Taker Fees: Maker fees apply when you add liquidity to the market (e.g., placing a limit order), while taker fees apply when you remove liquidity (e.g., placing a market order).
2. Coins Convert Fees
The Coins Convert feature allows users to buy and sell cryptocurrencies quickly without incurring any trading fees.
- No Fees for Buy/Sell Crypto: Using the Coins Convert feature does not incur any transaction fees, making it an attractive option for users who want to trade without additional costs.
Key Insights
- Buy Rate vs. Sell Rate: The cryptocurrency spread, or the difference that you notice between the buy rate and sell rate, is determined by the global market supply and demand as well as the volatility of the prices.
It is expected that Buy rates may be different from the Sell rates. When you convert your Peso to BTC, the Buy rate indicated on the conversion screen applies.
On the other hand, when you convert your BTC into Peso, the Sell rate applies.
You may notice that the approximate Peso value indicated under your current BTC balance is lower than the original Peso amount you converted because the Sell rate is used to compute this.
Important Considerations
Choose Your Trading Method Wisely
- Use Coins Convert for simple, fee-free transactions
- Consider spot trading for larger volumes and better rates
Frequently Asked Questions
Can I switch between Convert and Spot Trading?
Yes, you can freely choose between Convert and Spot Trading based on your needs. Convert is better for simple trades, while Spot Trading offers more advanced features. However, please be advised that once done, transactions are irreversible.
Can I trade cryptocurrencies on mobile devices?
Yes! The Coins.ph app is mobile-friendly and allows you to trade cryptocurrencies seamlessly from your smartphone.