TOP > Cryptocurrency > How to Buy and Sell Bitcoins at BuyBitcoin.ph
January 29, 2019 Updated

Buying bitcoins at buybitcoin.ph is one of the simplest ways to engage in bitcoin transactions in the Philippines. Learn about the steps here!




The ways to buy Bitcoins in the Philippines may not be as varied as in other countries. The good news is that accessing these services to buy the popular cryptocurrency is as simple as going to the nearest convenience store or the bank. In this article, we will discuss how you can buy and sell bitcoins using BuyBitcoin.ph.

buybitcoin.ph

What is BuyBitcoin.ph?

BuyBitcoin.ph is one of the first services in the Philippines to engage in Bitcoin buying and selling. The website is run by Satoshi Citadel. Satoshi Citadel also owns other Bitcoin service sites like Bitbit.cash and Rebit.ph. While you can do a lot of things in Coins.ph, Buybitcoin.ph is exclusively for buying and selling bitcoins.

How to buy Bitcoins at Buybitcoins.ph

Note: BuyBitcoin now has a Peso Wallet. Check out this article first.

  1. Make sure the following are ready before you proceed
    1. Signing up with BuyBitcoin.ph
    2. Your Bitcoin Wallet Address
  2. On Buybitcoin’s page, enter the amount of bitcoin you want to buy.
  3. Paste your Bitcoin Address (or scan)
    1. Note that BuyBitcoinPh is a buy and sell bitcoin site and not a bitcoin wallet site. If you don’t have a bitcoin address, create one at its partner site bitbit.cash
  4. Choose a Payment method
    1. Payment method accepted at Buybitcoin.ph
      1. BPI
      2. Bayad Centers
      3. Cebuana Lhuillier
      4. Gcash
      5. LBC
      6. M. Lhuillier
      7. Palawan Express
      8. RCBS
      9. SM payment centers
      10. Eastwest Bank
      11. PNB
      12. Rural Net Bank
      13. Security Bank
      14. Union Bank
      15. UCPB
      16. Robinson’s
  5. You’ll get the bitcoin amount on your wallet once the payment is confirmed.

How to Sell Bitcoins Using BuyBitcoins.ph

  1. Go to this page on their site.
  2. Indicate the amount of bitcoin that you want to sell
  3. Indicate how you want to receive the money
    1. Below is the list of accepted of places where you can cash out
      1. Metrobank
      2. BPI
      3. BDO
      4. Eastwest Bank
      5. Union Bank
      6. PNB
      7. China Bank
      8. Security Bank
      9. RCBC

Advantages of Buying Bitcoin at Buybitcoin.ph

  1. Payment (Conversion to Bitcoin) is fast once the payment is confirmed.
  2. Recognized by the Bangko Sentral ng Pilipinas.
  3. As the first in PH, BuyBitcoin.ph is truly a pioneer buy and sell bitcoin site in the country

Disadvantages of Buying Bitcoin at Buybitcoin.ph

  1. You are also KYC’d (Know your Customer). That means BuyBitcoin.ph knows who you are and what you do for a living. With Bitcoin as an anonymous payment method, the KYC seems ironic. However, this is one of the rules set up by the Bangko Sentral ng Pilipinas and by the service to protect the site from being used for unintended activities.

BuyBitcoins.ph Limits and Verifications

These are the transaction limits on the service depending on how much you have verified.

Minimum Limit Maximum Limits
Identification verified: If Proof of address verified:
₱ 1,000  ₱ 10,000 per transaction*  ₱ 400,000 daily
₱ 75,000 daily  ₱ 2,000,000 monthly
₱ 500,000 monthly
*via Dragonpay

How to Get Verified at BuyBitcoin.ph

Below are the things you need to submit in order for your identity to be verified by the website:

  1. Valid I.D
    1. Here are the IDs they accept:
      1. Passport
      2. Driver’s License
      3. Voter’s ID
      4. SSS
  2. A selfie with your ID
    1. You take a picture of yourself together with the ID you have submitted
  3. Proof of Address
    1. Below are some of the billing statements they will accept
      1. Internet Bill
      2. Cable Bill
      3. Utilities (Water & Electricity)
      4. Credit Card Bill

What can you do with the bitcoins you bought from BuyBitcoin.ph?

Buybitcoin.ph is not a bitcoin wallet. Once you bought BTC on the site, it will get transferred to your bitcoin wallet immediately. If you transfer it to their wallet site “bitbit.cash”, you can do just about the same things you can do with the bitcoins on your Coins.ph account

  • Click here to know more about Bitbit.cash!

Overall

Buying bitcoins at buybitcoin.ph is one of the simplest ways to engage in bitcoin transactions in the Philippines. Its no-hassle approach – its positioning as a buy and sell bitcoin site makes things uncluttered and uncomplicated for the user.

Do you have a buybitcoin.ph account? Do you use it? Do you have more questions about it? Let us know in the comments below!

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  • Invest in bitcoins (or in any altcoins) only the amount you can afford to lose!
  • Don’t put all your eggs in one basket. Spread your bitcoin and cryptocurrency investment.
  • Before investing in any cryptocurrency, check the people behind it, its mission, and other details to ensure that they are worth investing for. Don’t invest in something you don’t know.
  • This article is for informational purposes only and does not constitute an investment advice. Your actions are solely your own responsibility. There is no substitute for doing your own research. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.



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