I haven't heard of and used any P2P exchanges that are applicable in the Philippines but knowing that Binance is a big exchange and there's acceptance with our local currency, that's a great step for being recognized in the cryptocurrency space. Maybe other exchanges will follow as well, not just USD, AUD, etc.
Both Bisq and Hodl Hodl supports the Philippine Peso too. Liquidity is just very very low due to both having a bit worse UI/UX. The Binance P2P platform's advantage in this case is just the name, but whatever. At least we get P2P adoption I guess.
Maybe, why Bisq and Hodl Hodl had less attention than the binance accepting P2P of Philippine Peso is that their User Experiences were poor lol
I've seen a lot of my friends preferred using Binance as it's features and trading volume is numerous and high. And the time they've accepted my local currency, it's shocking and I'm somehow happy that they require no fees. Binance wins the likes of their customers afterall.
Low liquidity is immediately a turn off with people using a service and it's possible that it's one of the reasons that it's not yet mainstream or being used. You can never question the reputation that Binance has right now but still, it's a win for the local currency.
Indeed. Despite the fact that mk4 has a point that those respectable exchanges already had been accepting PhP, the success of a project (trading platform to be exact) depends on the number of its users and their positive reviews.