COEXSTAR Crypto Exchange Review: Is It Safe and Reliable for Filipino Traders?

When you're looking for a cryptocurrency exchange in the Philippines, you don't just want another app that lets you buy Bitcoin. You want one that keeps your money safe. That’s where COEXSTAR comes in. Launched in October 2019, it’s one of the few crypto exchanges in the country licensed by the Bangko Sentral ng Pilipinas (BSP). That’s not something every platform can say. But does that license mean it’s actually safe to use today? And is it still worth your time in 2026?

What Makes COEXSTAR Different?

Most global exchanges like Binance or Coinbase offer hundreds of coins, lightning-fast trades, and advanced charting tools. COEXSTAR doesn’t. It started with just 10 cryptocurrencies - Bitcoin, Ethereum, and a few others. That’s it. No Solana, no Dogecoin, no Shiba Inu. If you’re chasing the latest memecoin or trying to swing trade altcoins, you’ll be frustrated.

But here’s the thing: COEXSTAR wasn’t built for traders who want to gamble on 500 different tokens. It was built for Filipinos who want to trade crypto without worrying about their funds vanishing overnight. And that’s a big deal.

The Philippines has seen its share of crypto scams. In 2023, hackers stole over $2.38 billion from exchanges worldwide. In 2024, North Korean hacking groups targeted Asian exchanges and walked away with $1.34 billion. That’s not a number you ignore. COEXSTAR’s only real advantage? It’s regulated. It holds a license from the BSP. That means it follows strict rules on customer verification, fund handling, and reporting. It’s not just another offshore platform with a fancy website.

Security: What COEXSTAR Actually Does Right

Security isn’t a buzzword here - it’s the whole reason COEXSTAR exists. The platform uses three key layers to protect your assets:

• Cold storage: Over 95% of user funds are kept offline in secure, air-gapped wallets. This means hackers can’t reach them through the internet.
• Two-factor authentication (2FA): You can’t log in without a code from your phone or authenticator app. No exceptions.
• Withdrawal whitelisting: You can only send crypto to addresses you’ve pre-approved. If someone steals your password, they can’t drain your account unless they also have access to your whitelisted wallet.

These aren’t just features - they’re industry standards recommended by the Cloud Security Alliance and the Cryptocurrency Security Standard. COEXSTAR follows them. That’s rare for a smaller exchange.

The company hired Nullforge Security Inc. to audit its systems before launch. That’s a good sign. Most exchanges skip third-party audits to save money. COEXSTAR didn’t. They wanted to meet the BSP’s strict requirements. That tells you they took compliance seriously from day one.

But here’s the catch: there’s no public record of recent audits. No blog posts. No security reports updated since 2020. That’s a red flag. Security isn’t a one-time checkbox. It’s a continuous process. If COEXSTAR hasn’t published a security update in years, you have to wonder: are they keeping up with new threats?

Regulation: The Real Advantage

This is where COEXSTAR wins. It’s not just licensed - it’s supervised. The Bangko Sentral ng Pilipinas requires all licensed exchanges to follow Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. That means:

• You need to upload a government ID.
• You need to prove your address.
• Your transactions are monitored for suspicious activity.

That sounds like a hassle - and it is. But it’s also your protection. Unregulated exchanges don’t ask for ID. That’s why they’re popular with criminals. And that’s why they get hacked, frozen, or shut down without warning.

In 2025, the Bybit hack stole $1.5 billion in Ether. Why? Because even big exchanges can be vulnerable if they cut corners on security. COEXSTAR doesn’t have that kind of volume - but it doesn’t need to. Its model is simple: fewer users, tighter controls, full compliance. If you live in the Philippines and want to trade crypto legally, this is one of the only options you can trust.

What’s Missing?

COEXSTAR isn’t perfect. Here’s what you won’t find:

• Advanced trading tools: No limit orders, no stop-losses, no margin trading. It’s a simple buy/sell interface.
• Mobile app: No official Android or iOS app. You have to use the website.
• Customer support: No public reviews. No Reddit threads. No Trustpilot ratings. You’re on your own if something goes wrong.
• Recent updates: No announcements since 2019. No new coins added. No feature upgrades.

That’s not just a lack of features - it’s a lack of activity. If a company hasn’t updated its platform in five years, it’s either doing fine (unlikely) or has stopped growing (more likely). In crypto, standing still means falling behind.

Who Is COEXSTAR For?

This isn’t a platform for day traders or crypto investors looking to get rich quick. It’s for one specific group: Filipinos who want to buy Bitcoin or Ethereum safely, legally, and without fear of losing everything to a hack.

If you’re:

• Buying crypto for the first time
• Worried about scams and stolen funds
• Prefer a regulated, government-approved platform
• Not interested in trading dozens of altcoins

…then COEXSTAR makes sense. It’s the crypto equivalent of a local bank branch - slow, simple, and secure.

But if you:

• Trade frequently
• Use advanced order types
• Want access to hundreds of tokens
• Need mobile trading or 24/7 support

…then you’re better off with a global exchange like Binance or Kraken - even if it means accepting a little more risk.

The Bottom Line

COEXSTAR isn’t flashy. It doesn’t have a mobile app. It doesn’t list the newest coins. It doesn’t even have a blog.

But it does one thing better than almost any other exchange in the Philippines: it keeps your money safe - legally.

Its BSP license is real. Its security measures are proven. Its lack of updates is concerning. But in a market where over $1 billion was stolen from exchanges in just one year, sometimes the safest choice is the quietest one.

If you’re in the Philippines and you want to hold crypto without losing sleep, COEXSTAR is still a valid option. Just don’t expect it to grow with you. Treat it like a savings account - not a trading floor.