How to Buy and Sell Bitcoins at BuyBitcoin.ph

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Updated on August 2019 to include newsletter
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 LimitMaximum 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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James

its hard to get verified in your site. i got approved in level 3 then the next day, my account came back to level 1 again?
then when i proceed to verifying phone number, my number already exist because i was recently approved. you cant resolve this issue? it involves money transacting on your site.. how reliable was your system? simple validation is in a poor and slow process

Mike

Hello James, You probably know this already, but just in case, BitPinas is not Buybitcoin.ph. We are a website that covers bitcoin and cryptocurrency news in the Philippines and not affiliated with SCI Ventures, the owners of buybitcoin.ph.

Regarding your query, I was in a similar situation before. What I did was contact them on messenger system within their website. Maybe that will work? Coins.ph also has a downgraded customer service support performance ever since bitcoin skyrocketed, they are probably experiencing it too: https://bitpinas.com/news/how-cryptocurrency-companies-in-ph-will-handle-rising-bitcoin-demand/

James

its hard to get verified in your site. i got approved in level 3 then the next day, my account came back to level 1 again?
then when i proceed to verifying phone number, my number already exist because i was recently approved. you cant resolve this issue? it involves money transacting on your site.. how reliable was your system? simple validation is in a poor and slow process

Jib

how come that in the Payment Method section has only one option (Sterling Bank only)?? where is the other option like cebuana etc. how to do?

Mike

Hello! Please check the other comment I made in this article.

Jib

how come that in the Payment Method section has only one option (Sterling Bank only)?? where is the other option like cebuana etc. how to do?

Mike

Hello! Please check the other comment I made in this article.

Jessalyn Presto

I’m trying to cash-in using buybitcoin.ph but the only available payment method appearing is Sterling bank, i would like to cash-in/buy btc thru cebuana but to no avail. The other payment methods listed above doesnt appear on your actual site.

Mike

Hello, I think this is related to this: https://bitpinas.com/news/sci-disables-peso-withdrawals-bitbit-temporarily/ since both buybitcoin and bitbit are operated by the same company. (Disclaimer: We are not sure if that’s really the reason). SCI recommended using their other platform : Rebit: https://bitpinas.com/cryptocurrency/remit-money-philippines-using-bitcoin-rebit/

Jessalyn Presto

I’m trying to cash-in using buybitcoin.ph but the only available payment method appearing is Sterling bank, i would like to cash-in/buy btc thru cebuana but to no avail. The other payment methods listed above doesnt appear on your actual site.

Mike

Hello, I think this is related to this: https://bitpinas.com/news/sci-disables-peso-withdrawals-bitbit-temporarily/ since both buybitcoin and bitbit are operated by the same company. (Disclaimer: We are not sure if that’s really the reason). SCI recommended using their other platform : Rebit: https://bitpinas.com/cryptocurrency/remit-money-philippines-using-bitcoin-rebit/

Jib

hello may I ask. how will I know if my btc I purchased via Sterling Bank is already sent to my btc address?

Mike

Hello! it will be betterto check buybitcoin.ph’s support staff. If you go to their homepage, the chat button should pop up.

Jib

hello may I ask. how will I know if my btc I purchased via Sterling Bank is already sent to my btc address?

Mike

Hello! it will be betterto check buybitcoin.ph’s support staff. If you go to their homepage, the chat button should pop up.

divina

i want to cancel my order on sterling bank, iwant to deposit atleast 5000pesos on cebuana lhuillier to buy bitcoin on buybitcoin.ph, i accidentally press the sterling bank, i want to buy bitcoin on buybitcoin.ph and deposit to cebuana of 5000pesos.thank you

Mike

Hello. I think it will be better to check with buybitcoin.ph’s support staff. If you go to their site, the chat bubble should pop up immediately.

divina

i want to cancel my order on sterling bank, iwant to deposit atleast 5000pesos on cebuana lhuillier to buy bitcoin on buybitcoin.ph, i accidentally press the sterling bank, i want to buy bitcoin on buybitcoin.ph and deposit to cebuana of 5000pesos.thank you

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]