With the big number of exchanges that are approved and regulated by the Philippine government, to be honest, I only use coins.ph and I'm sure everyone here are using the same exchange. This prove how the Philippine crypto market are dominated by one company only, and I would say it's good for them but bad for us users as less competition will not result to better service.
It's only us can change it, if we will support another exchanges, we will surely see coins.ph will try to give us a good rate as they don't want to loss their clients. With billions of money coming in and out in the exchange, they are already making a lot of money from us.
Correct me if I'm wrong here with my analysis, let's say the spread for exchange rate between the standard rate against the coins.ph is 5%.
So if we will transact or lets say we have withdrawn 20 million in 1 year, they are talking at least 1 million pesos from our money.
How can we support other local exchange if they can't even put some efforts into competing with coins.ph? Yes we are paying fees but in return, halos lahat ng payment methods nilapit na sa atin ng coins.ph mapa deposit or withdraw.
Almost everything nasa coins.ph na. These additional exchanges are, I don't know if ano ba talaga ang purpose. Even on marketing and advertisement I can't see them. If they can't spend money on that, how come to the overall exchanges feature?