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Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.
BuyBitcoin.ph's brokerage service is the easiest way to purchase bitcoins in the Philippines. The interface is very easy to use for first-time buyers. You can use cash or various online payment methods.
Prepaidbitcoin.ph is a unique Bitcoin service in the Philippines. They sell vouchers from 2 physical locations in Makati City, these vouchers can be redeemed online for bitcoins. Vouchers may also be boght online via Gamex.ph, using Smart or Sun mobile payments.
Make sure you have a Bitcoin wallet before you redeem a voucher, since you'll need an address to receive your bitcoins.
Coinage was the first Bitcoin exchange geared towards traders in the Philippines. You can fund your account via bank transfer or cash deposit.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
The Philippines economy is often referred to as “The Tiger Cub Economy.” Until very recently, the economy of the Philippines has been based on the agricultural sector. Now, it is one of the fastest growing economies in the world, based mostly on exports of semiconductors and electronic parts, copper and petroleum products.
In November 2022, Union Bank of the Philippines launched a pilot program for Bitcoin and Ether custody. They are also allowing trading services for some retail customers.
In the summer of 2020, the Philippines central bank approved 16 cryptocurrencies exchanges, paving the way for a true boom in the markets there.
In 2021, Chainalysis released what it called the Global Crypto Adoption Index. This report showed that the global crypto adoption has taken off in the last year, up 881%. The report ranked 154 countries based on several metrics including total crypto activity weighted by purchasing power parity per capita. The Philippines ranked in the top 20 with a score of .16.
If you are living in the Philippines and are interested in joining the Bitcoin revolution yourself, one of the easiest ways to buy Bitcoin is through the cryptocurrency exchanges outlined above. Select the exchange based on your requirements and preferences because different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before selecting one.
Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet).
Another option for Buying Bitcoins in the Philippines is through peer-to-peer exchanges like LocalBitcoins. On platforms like these, users buy and sell with other individuals directly. More on how these work in Chapter 5.
There are three main types of Bitcoin wallet and all of them are supported in Phillippines:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
As of January of 2021, we could find no exchange hacks or significant scams affecting Phillippines or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Phillippines.
Coinbase ONLY allows crypto to crypto conversions for Phillippines residents as of January of 2021.
At this time, there are no Bitcoin ATMs in Phillippines.
You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.
Bitcoin prices are changing every second.
The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.
Any exchange with a Philippine peso trading pair will allow you to sell your Bitcoin for fiat currency. BuyBitcoi.ph has PHP trading pairs for many popular coins.
LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.
You could also use a service like eGifter to sell your Bitcoin for gift cards.