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How to Buy Ethereum in the Philippines | Basic Info and Where to Buy

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  • Ethereum is one of the living proofs of decentralization, as it is not controlled by a central authority. 
  • Smart contracts are programs that run on a blockchain and execute the actions agreed upon between the entities involved. Ethereum is the first blockchain to use smart contracts. 
  • All the popular crypto exchanges in the country offer ETH trading—Coins.ph, PDAX, GCrypto, and Maya. This article delves on Ethereum 101 and where to buy Ethereum in the Philippines.

This article is modified on October 9, 2023 with new content:

“Once upon a time, a merry band of fellows got together and decided to change the world. This happened not long after Bitcoin came into existence. They bounced a bunch of ideas back and forth in a rented house dubbed ‘the spaceship’ in Zug, Switzerland, back in 2014, and came up with a different way to use blockchain technology.”

This was how writer Julie-Anne Chong described how Ethereum was created, in her own words, based on the whitepaper that Vitalik Buterin posted in 2014 before he launched the network in 2015. 

Note: Ethereum refers to the blockchain and Ether is the cryptocurrency.

Read More: Do’s and Don’ts of Crypto Trading

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Check out more articles in our Cryptocurrency 101 Series.

ETH to PHP

What is Ethereum? 

Ethereum is one of the living proofs of decentralization, as it is not controlled by a central authority. Instead, it exists when a network of computers, known as nodes, runs and follows the Ethereum protocol and adds it to the Ethereum blockchain. 

These nodes can be run by anyone, but those who are interested should hold 32 $ETH, the native token of Ethereum, to ‌be a node validator. 

“The Ethereum network acts as the foundation for communities, applications, organizations, and digital assets that anyone can build and use,” the website read. 

How to Buy Ethereum in the Philippines (1)

Ethereum Use Cases: A Digital Platform

As mentioned above, the Ethereum blockchain is a platform that welcomes communities, applications, and digital assets. This means that it can run various applications, such as non-fungible tokens (NFTs), other digital assets, and smart contracts. 

One of the things that can run on Ethereum are decentralized applications (dApps) and decentralized finance (DeFi). Unlike traditional finance, which relies heavily on middlemen for financial transactions, DeFi uses smart contracts instead. This makes transactions faster and cheaper for DeFi. 

Basically, smart contracts are programs that run on a blockchain and execute the actions agreed upon between the entities involved. Ethereum is the first blockchain to use smart contracts. 

As of this writing, more than 53 million smart contracts have been made, and there are at least 4,000 projects that were established on Ethereum. 

The blockchain is also home to ERC 20 tokens, which are cryptocurrencies that follow a common set of rules, such as how they are created, transferred, and used within the Ethereum ecosystem. This is the reason why some wallets are Ethereum compatible only, can be swapped with other ERC-20 tokens only, and more.

Lastly, the Ethereum blockchain is also used to host NFT and NFT marketplaces. NFTs are unique digital items that may or may not represent a physical work, such as artworks, playing cards, keychains, in-game assets, and other collectibles. One of the famous marketplaces on the Ethereum blockchain is OpenSea.

The ETH Token

Ether ($ETH) is the native token of the Ethereum blockchain. It was launched in 2015 as part of the network itself. ETH also has no maximum supply, but uts issuance rate is policed to keep inflation low and predictable. As of September 2023, there are 127.7 million ETH in circulation

Normally, a token’s fiat value depends on the supply and demand of the community. And because the Ethereum network is an ideal blockchain for ‌developers who build dApps, more of them use ETH. 

Because many NFTs and marketplaces can be found on the blockchain, ETH is burned for gas fees, and ETH is the front currency for transactions.  

But that does not end there; last year, Ethereum transitioned from a proof-of-work (PoW) mechanism to proof-of-stake (PoS) through the Merge. Adopting the PoS mechanism reduced the network’s energy consumption to 99% and increased its scalability and security—giving more hype and trust to ETH. 

These use cases of the Ethereum network make ETH valuable. This is why ETH has a strong market position as the second largest token by market capitalization, next to Bitcoin. 

According to its website, more than 96 million wallets have ETH, which shows that ETH is one of the top cryptocurrencies chosen by investors and enthusiasts.

ETH Exchanges in PH: How to Buy Ethereum in the Philippines

All the popular crypto exchanges in the country offer ETH trading—Coins.ph, Coins PRO, PDAX, GCrypto, and Maya. 

Step 1: Create and verify an account. Some local exchanges allow unverified users to buy crypto only, while other services are disabled. Meanwhile, for some e-wallets, their crypto trading features are available to verified users only. Common verification requirements include providing a valid ID and a selfie. 

Step 2: Cash in the desired amount. Some platforms have a separate e-wallet and crypto wallet. This means that even if the user’s e-wallet has an e-cash, that user still needs to top it up to the crypto wallet. Be mindful also, as different exchanges have different minimum required amounts to buy ETH.

Step 3: Find the ETH pair. It could be ETH/USD, ETH/PHP, ETH/USDT, and more. Once found, click the ETH pair. 

Step 4: Click the “Buy” button and enter the desired amount. 

Step 5: Check if the ETH has been reflected in the crypto wallet. 

Safe Storage: Ethereum Wallets in the Philippines

Ethereum wallets are applications that let you control your account and the ETH that you hold. These wallets can be connected to other apps that can be used for payments. 

The four local exchanges above have their own built-in Ethereum wallets, so whenever their users buy ETH, the token will automatically be stored in the wallet.

However, there are also some wallets that users can use to store their ETHs, especially for long-term hodl:

The most secure are hardware wallets, which are physical devices that are designed to store digital assets offline; an example of this is Ledger Nano X. 

There are also hot wallets that are available as browser extensions, like MetaMask and Ronin Wallet. Note: Ronin Wallet offers wETH or wrapped Ether. 

Filipino-led Tetrix Network also has Pitaka, a non-custodial wallet, like MetaMask, that supports more than 18,000 cryptocurrencies built on top of 25 blockchains, including ETH.

Tips for Safe Ethereum Purchases

Cryptocurrency and ETH trading is a serious matter—all because it involves money. Thus, to have a secured and successful ETH purchase, just buy from reliable exchanges. In the Philippines, the Securities and Exchange Commission warned Filipinos to stop dealing with unlicensed crypto exchanges. So to be better safe than sorry, just buy with those who are registered with the Bangko Sentral ng Pilipinas. 

Moreover, for those who are interested in storing their ETH and holding it for long term, make sure to just download the browser extension of the hot wallet from a reliable site. There are a lot of fake browser extensions that aim to scam and steal hard-earned money. The private keys given by these wallets should also be stored in proper places; do not store them in desktops and notepad applications, as they could be accessed once malware happens. 

For a more detailed security tips to protect your digital assets, read here.

This article is published on BitPinas: Where to Buy Ethereum in the Philippines

Disclaimer:

  • Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
  • BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

Original Old Article Follows:

By now, you already know that bitcoin is not the only big cryptocurrency in the world. One of the most popular is Ethereum’s Ether. While the conversion is not that high compared to the Bitcoin to PHP right now, there’s definitely room for growth for this hot cryptocurrency.

This article had a minor update on October 27, 2020.

What is Ethereum?

Ethereum is a platform that wants to decentralize existing platform models on the Internet today. Projects can be built on top of the Ethereum platform, and they will all be decentralized.

To understand, think Gmail. We use the Gmail software for email. Google holds all the data on its servers. But what if Google’s Gmail servers crashes? What if Gmail shuts down? Then all our data, all our emails are gone forever. Also, if by any chance Google becomes a bad company, it might delete our emails for no reason at all.

Within apps and software on the Ethereum platform, the control of your data goes back to you. Through the blockchain, the data is in a unified ledger. It is decentralized. So if one part of the blockchain shuts down, your data is still there because it is decentralized (each part of the blockchain has your data, but only you can access it).

It’s like Google Docs where you, me, and Gino (a writer at Bitpinas), can write words. However, I can only edit the words I wrote and can’t do anything with the words you wrote. Similarly, you cannot edit whatever I wrote, but you can do it with yours. (This is the simplest analogy I can think of right now).

So what’s the difference between Bitcoin and Ethereum?

They differ in purpose. Bitcoin is built to facilitate decentralized digital cash transactions. Ethereum is built to allow users to create decentralized applications.

How to Buy Ethereum in the Philippines

So how can we buy Ethereum in the Philippines? Technically, we don’t buy ethereum. What we’re buying is “ether“, the so-called fuel in the Ethereum network. Think of it as the token you buy to purchase something in the Ethereum network. It is also the reward given to people who add something valuable to the network. Or simply, if the bitcoin network has “bitcoin”, ethereum has “ether”.

Update: Mar. 27, 2018: Buy Ethereum in the Philippines Through Coins.ph

Coins.ph now allows users to buy ether through its iPhone, Android, and web apps. To know more, please check this article:

Purchase Ethereum using Credit Card:

CEX.io is a reputable exchange that allows anyone to purchase ethereum by paying USD through credit card or debit card.

Register for CEX.io!

Buy Ethereum on Binance:

Binance is one of the world’s largest cryptocurrency exchange in the world in terms of volume. Also since this is a trading platform, you will be the one to set your prices for how much you want to buy per ether.

  1. Register for Binance here.
  2. Buy USDT through a P2P Seller who will deposit it directly on your Binance account
    1. Check out this article: How to Use Binance P2P to Buy Bitcoin, USDT in the Philippines
  3. Search for Ethereum on Binance homepage.
  4. Trade your USDT for Ethereum
  5. Click here for the steps on how to trade bitcoin for Ethereum on Binance.

(Update: Feb 15, 2018) Buy Ether Over-the-Counter in the Philippines

You can now buy ethereum over-the-counter in the Philippines, thanks to Moneybees.ph and Bloom in partnership with accredited money changers and remittance stores:

Buy Ethereum in the Philippines at Abra

Important Note according to Abra:

Abra is a bitcoin wallet, so our underlying currency is bitcoin. When you use Abra to invest in ether, you’ll still be holding bitcoin, but you’ll have a contract that will give you exposure to the price changes of ether. If the value of ether goes up, you’ll gain more bitcoin. If the value of ether goes down you’ll lose bitcoin. Either way, the amount of ether you’re holding will stay the same.

You can now get ether at Abra. The process is almost similar to buying bitcoin at Abra. But just so you do not need to check the previous link, here are the short steps:

  1. Fund your PHP Wallet in Abra.
    1. Go to your Abra app to make sure you put the name of your bank or get the details of the Tambunting pawnshop where you can cash in.
    2. Once the fund is on your PHP wallet in Abra, proceed to convert it to ether.
  2. You can also use your BTC Wallet
    1. Transfer funds to your BTC wallet by:
      1. Converting an amount to from your Peso Wallet
      2. or transfer BTC from another BTC address
    2. Proceed to convert your BTC into ether.

For the steps above, test it with small amounts first! The instructions above are straight from Abra themselves. They mentioned 2 – 4 business days before the amount gets debited to your wallet. You may contact Abra here for any queries. (Update Dec. 22, 2017 – Note that to get Ether out of Abra, you must convert it to Bitcoin first then transfer to an external BTC wallet. Thank you to commenter Janus to mention that information).

Buy Ethereum in the Philippines at Cryptocurrency Exchanges

You can buy ether at cryptocurrency exchanges. In the steps below, we used Bittrex to buy our ether. Bittrex is the 3rd largest cryptocurrency exchange and a lot of altcoins are traded there. We have articles on how to proceed from buying altcoins at Bittrex.

  1. How to fund your Bittrex account with your bitcoin from Coins.ph and other PH bitcoin sites
  2. How to buy altcoins at Bittrex for beginners

Steps in Buying at Bittrex

These steps will detail the procedure from Coins.ph to Bittrex and finally to your ether wallet.

  1. You must first have the following accounts:
    1. You first must have an account on Coins.ph or Bitbit.cash
    2. Have an account on your chosen bitcoin exchange site, for this example, we will go with Bittrex.
    3. Create your own wallet at MyEtherwallet.com.
  2. Fund your Coins.ph account then convert it to bitcoin.
  3. Send the bitcoin from Coins.ph to your Bittrex bitcoin wallet.
    1. Make sure you click your bitcoin wallet on Bittrex to know your Bitcoin wallet address there.
  4. Buy Ethereum at Bittrex with your bitcoin there.
  5. Depending on what amount you are comfortable, send the Ethereum to your own ether wallet (the one you created on My Ether Wallet).

Buy Ethereum at Quoinex

Quoinex is a cryptocurrency exchange service based in Singapore that supports Philippine Fiat (Philippine Peso). Update 12/6/2017: The Quoinex Platform is a bit slow on Google Chrome these days. We recommend trying other exchanges such as Bittrex or CX if you want to buy ethereum.

  1. Sign up at Quionex.com.
  2. Verify your account by submitting required documents, such as government IDs.
  3. Once you are verified, you can fund your account. You can easily see the link to this at the top of the Quoinex page.
  4. The easiest way to buy ether in the Philippines is through Quoinex’s Quick Exchange. A link is also on top of the Quoinex homepage.
    1. Select your PHP money and convert into BTC
    2. Use your BTC in your Quionex account to buy ETH
    3. Select Ethereum as the coins you want to get.
    4. Click exchange!

Other ways to Buy Ethereum

  1. You can buy Ether at other exchange sites, but since we tried it at Bittrex and Quoinex, they are the ones we used in this article.
  2. You can join FB groups where you can negotiate and do meetups (and subsequently trade ethers).
  3. CEX.io
    1. At Cex.io, you can buy Ether with your credit card.
  4. Shapeshift.io
    1. Fund your Coins.ph account then convert it to bitcoin.
    2. Open Shapeshift.io
    3. It will ask you what are the coins you will convert:
      1. For “Deposit”, click “Bitcoin”
      2. For “Receive”, click “Ethereum”
    4. Next, it will ask your refund bitcoin address and the Etherium wallet address. You should have an Ether wallet in My Ether Wallet.
    5. After that, it will ask you to send the BTC amount to a wallet address.
    6. Once that is confirmed, Shapeshift will convert the BTC you paid into Ethereum. It will be delivered immediately on your Ether wallet.

Why can’t I just keep my Ether at exchanges?

You are trusting the exchanges of your Ethereum because they have your private keys, not you. In the event that the exchange site gets hacked, all your coins (and investment) will be gone. It is common practice to put your coins in a wallet and only keep it in the exchanges the amount you will use for trading.

  • Tip: After buying ether on the exchanges, depending on your risk appetite, move the coins out of the exchange and put it in your own ethereum wallet (You have this when you signed up for My Ether Wallet).

List of Ethereum Wallets

Website Cryptocompare lists the following wallets that support Ether:

Can I keep my Ether at Coins.ph?

Update March 27, 2018: Yes!

Can I trade Ether in person?

You can definitely do that. You can join Facebook Ethereum Groups based in the Philippines and negotiate before meeting in person. Of course, you have to be wary of those kinds of transactions. Make sure you have vetted the person you are transacting to before giving money to them.

And that’s it. Above are the steps to buy Ethereum currently in the Philippines. While definitely not as convenient as bitcoin, Ethereum is a really popular cryptocurrency that we should get interested to.

41 Comments

  1. Good morning sir, i have successfully transferred bitcoin from coins.ph to bittrex, if ever i gained enough income how would i transfer it back to coins.ph, thanks

    1. If you bought ethereum, you cannot send it back to Coins.ph because Coins doesn’t support ethereum.

      But if you have began buying bitcoin straight on bittrex, you can send those coins back to your coins.ph bitcoin wallet address.

  2. Good morning sir, i have successfully transferred bitcoin from coins.ph to bittrex, if ever i gained enough income how would i transfer it back to coins.ph, thanks

    1. If you bought ethereum, you cannot send it back to Coins.ph because Coins doesn’t support ethereum.

      But if you have began buying bitcoin straight on bittrex, you can send those coins back to your coins.ph bitcoin wallet address.

  3. so meaning we have to sell the ether in bittrex and buy bitcoins then trnsfer to coins,ph?

    1. It’s possible to do that, but if you buy ether, it’s better if you transfer those ethers to the wallet you created via myetherwallet and hold it until the value goes up (meaning if its value is more than how much you buy it). I don’t think it makes sense (given the current market – nov 2017 – for both btc and eth) to convert it back to btc since you used btc to buy it.

      Edit. Also, Abra, an app operating in the Philippines will support Eth soon.

  4. so meaning we have to sell the ether in bittrex and buy bitcoins then trnsfer to coins,ph?

    1. It’s possible to do that, but if you buy ether, it’s better if you transfer those ethers to the wallet you created via myetherwallet and hold it until the value goes up (meaning if its value is more than how much you buy it). I don’t think it makes sense (given the current market – nov 2017 – for both btc and eth) to convert it back to btc since you used btc to buy it.

      Edit. Also, Abra, an app operating in the Philippines will support Eth soon.

  5. So if I bought ethereum I need to find a legit/secured ethereum wallet right? and if I wanted to withdraw all of my ethereum here in the philippines I have to convert/exchange it to bitcoins and that’s the only time I can transfer it to coins.ph?

    Please help coz I want to focus on Ethereum.

    1. Yes. What’s important is that once you decide to sell your eth, I guess it should be at that point where there is already profit – buy low sell high – Sell your ether on a value that is more than the amount you pay for it. Also, you might want to wait as Abra will launch their Ether wallet very soon (so no need to convert back to btc and transfer back to Coinsph)

      1. This is really Helpful. I want to focus on ether as well. Just waiting for BTC to correct then I’ll buy from coins.ph

      2. Whats your alternative for coins.ph aside from abra? and how can we buy btc using credit card?

        1. Our guide https://bitpinas.com/cryptocurrency/buy-bitcoin-philippines/ listed Cex.io as a way to buy bitcoin using a credit card. They do have some minimum amount though.

          The alternative for coins, abra, etc are exchanges, like bittrex, quoinex, and so on. We should have a guide this week on understanding exchanges (part of our intermediate guide to buying cryptocurrency). 🙂 Please stay tuned!

          And if you have topics you want us to cover, just let us know. And lastly, thank you for raising these questions. 🙂

  6. So if I bought ethereum I need to find a legit/secured ethereum wallet right? and if I wanted to withdraw all of my ethereum here in the philippines I have to convert/exchange it to bitcoins and that’s the only time I can transfer it to coins.ph?

    Please help coz I want to focus on Ethereum.

    1. Yes. What’s important is that once you decide to sell your eth, I guess it should be at that point where there is already profit – buy low sell high – Sell your ether on a value that is more than the amount you pay for it. Also, you might want to wait as Abra will launch their Ether wallet very soon (so no need to convert back to btc and transfer back to Coinsph)

      1. This is really Helpful. I want to focus on ether as well. Just waiting for BTC to correct then I’ll buy from coins.ph

      2. Whats your alternative for coins.ph aside from abra? and how can we buy btc using credit card?

        1. Our guide https://bitpinas.com/cryptocurrency/buy-bitcoin-philippines/ listed Cex.io as a way to buy bitcoin using a credit card. They do have some minimum amount though.

          The alternative for coins, abra, etc are exchanges, like bittrex, quoinex, and so on. We should have a guide this week on understanding exchanges (part of our intermediate guide to buying cryptocurrency). 🙂 Please stay tuned!

          And if you have topics you want us to cover, just let us know. And lastly, thank you for raising these questions. 🙂

  7. Sir kamusta naman yung experience nyo sa Quoinex tungkol sa pag cash-in, cash-out, at pag exchange?

    1. Lately medyo slow si Quoinex Platform sa Google Chrome. For now, we recommend going to another cryptocurrency exchange, such as Bittrex.

  8. Sir kamusta naman yung experience nyo sa Quoinex tungkol sa pag cash-in, cash-out, at pag exchange?

    1. Lately medyo slow si Quoinex Platform sa Google Chrome. For now, we recommend going to another cryptocurrency exchange, such as Bittrex.

  9. Good day sir/mam

    Pupwede po ba magstore ng ether sa MyEtherWallet using abra?

    1. Hello, I changed phone and haven’t reinstall abra yet ^_^ so I can’t check. As long as there’s an option to send ETHER to another Ether Address, then it should work. As always, test things with small amounts first. Bitcoin and Ether are experiencing increased user growth. If something goes wrong, the customer support might be slow.

    2. Hello. Update lang. Mukang di pala pwede. A comment from Janus pointed it out. We’ll update the article to include that information.

  10. Good day sir/mam

    Pupwede po ba magstore ng ether sa MyEtherWallet using abra?

    1. Hello, I changed phone and haven’t reinstall abra yet ^_^ so I can’t check. As long as there’s an option to send ETHER to another Ether Address, then it should work. As always, test things with small amounts first. Bitcoin and Ether are experiencing increased user growth. If something goes wrong, the customer support might be slow.

    2. Hello. Update lang. Mukang di pala pwede. A comment from Janus pointed it out. We’ll update the article to include that information.

  11. Don’t use abra. You cannot send/receive eth using abra. If you are going to widraw your eth you will have to convert to bitcoin first then transfer to external bitcoin wallet.

    1. If there’s one disadvantage it could be that you will miss on the upcoming forks in the ethereum network (if there’s one). Abra is still a good way to get into ether if there’s no other option. It’s the closest thing we have right now to purchase ether without the hassle of dealing with foreign exchanges and the coinsph to bittrex transfer. Again, thank you for adding valuable input here in Bitpinas!

  12. Don’t use abra. You cannot send/receive eth using abra. If you are going to widraw your eth you will have to convert to bitcoin first then transfer to external bitcoin wallet.

    1. If there’s one disadvantage it could be that you will miss on the upcoming forks in the ethereum network (if there’s one). Abra is still a good way to get into ether if there’s no other option. It’s the closest thing we have right now to purchase ether without the hassle of dealing with foreign exchanges and the coinsph to bittrex transfer. Again, thank you for adding valuable input here in Bitpinas!

  13. Ask ko lang po, pwede ba magsend ng ETH from coins.ph to Cex.io?

  14. Ask ko lang po, pwede ba magsend ng ETH from coins.ph to Cex.io?

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