Review on COEXSTAR by Pedro O. Alvino M.
Decentralized exchange for Filipinos
Developed in 2019, it is a decentralized crypto-asset trading platform, which allows Filipino users to trade cryptocurrencies even with Fiat currencies, in addition to its commercial interface that facilitates exchange given its basic and simple design.
Partially aimed at residents of the Philippines, it is limited to users from other countries, especially for trading in Fiat, since a KYC verification is required for deposits in Fiat, in addition to that the number of crypto assets it integrates is very low, but It has the most popular currencies on the market, although it does not have the liquidity of said platform.
Registered in the SEC, it provides security of assets through a separate network, so that the safeguard of coins is stored through several separate networks, however despite having this complex security system, even the platform requires some basic features, such as a better customer support system and more wallet security features.
Pros
- Supports cryptocurrency trading with Fiat.
- Registered and licensed in Securities and Exchange Commission (SEC) as in Bangko Sentral ng Pilipinas (BSP).
- It has a separate asset storage network system.
Cons
- It consists of a customer service system by mail with established delays and hours.
- They do not have a mobile version and live chat.
- Very few currencies listed on the exchange.
- The volume of the exchange is not supported by any crypto exchange monitoring platform.
- Limited only for Filipino operators.
