TOP > Cryptocurrency > The Best Cryptocurrency Wallets to Use in the Philippines
December 28, 2017 Updated

Whether you opt for an online cryptocurrency wallet, or go hardcore with a hardware wallet, here are the best wallets for Philippine users.

A cryptocurrency wallet is a piece of software or application where you *store your bitcoin, ether, or any other virtual currencies that you have.

Think of it like the wallet where you store your money. You put your paper bills in the wallet. Everyone knows you have a wallet (unless you don’t, which is very very alarming), but only you can take the money out of your wallet. (Note: Click here if you want a bitcoin wallet-centric article. Continue reading if you want to know more about cryptocurrency wallets not just for btc but for all coins.)

cryptocurrency wallet philippines

Cryptocurrency Wallet Philippines

Private and Public Addresses

The cryptocurrency wallet has private and public keys (or private and public addresses). When you send your friend John an altcoin, you send it to his public address. Remember that the blockchain is a public ledger. Everyone John transacts with knows his public address. Everyone even knows how much altcoin is in his wallet.

But only John can take the coin out of that wallet. That’s because he’s the only one who knows the private key (or private address) to open his his wallet.

Characteristics of Best Cryptocurrency Wallets

Wallets come in different forms. For example, there are many bitcoin wallets. Also, there are different wallets for different cryptocurrencies. Well, there are wallets where you can put many coins. Examples are wallets on cryptocurrency exchanges (like the one on Bittrex).

But wallets on an exchange are not secure. Furthermore, because exchanges trade millions of bitcoin per day, they are a prime target for hackers. Most of the time, the best wallets are the ones that give you access to your private and public keys. But those are still nothing if the wallet’s creators do not have a strong reputation (or maybe unknown). What’s more, it depends on your risk assessment and comfort. If you trust the company with your private keys, or whether you want your altcoins offline. We list down the best cryptocurrency wallet for users in the Philippines.

Note: Every wallet listed here are wallets that you can freely download. Technically, all wallets are available globally, but some, like Abra, Coins, and Bitbit also have a team on the ground in PH. Some provide a watered-down version of their platforms, like Coinbase that only allows us to store our coins. Meaning, its wallet functions are available to us. But their other features, like quick exchange and trading are not available for users in the country.

Best Cryptocurrency Wallets for Philippine users

Online Wallets

Simply put, these are wallets you can access online, either on a web browser and/or a mobile app. These provide convenience although most of the time, they control your private keys. They are called “hot wallets” because of that.

Best Online Wallets Philippines
Wallet Supported Coins Notes bitcoin, Php PH-based and has a mobile app bitcoin, Php PH-based and has a mobile app
Myetherwallet ether, ethereum-based coins You control your private keys bitcoin your private keys are encrypted with your password and has mobile wallet
Litevault litecoin your private keys are encrypted with your password
Coinbase bitcoin, bitcoin cash, litecoin, ethereum, your private keys are encrypted with your password and has a trading exchange platform but unavailable in PH
Mycelium bitcoin your private keys are encrypted with your password
Abra bitcoin, ether you have access to your private keys via recovery phrases

Desktop Wallets

Desktop wallets sit on your computer and are generally secure. Most of the time you control your private keys. Some, like Exodus, offers the ability to convert your coins to another via its Shapeshift integration (this means you can trade your coins instantly to any other supported coins).

Best Desktop Wallet Philippines
Wallet Supported Coins Notes
Exodus Bitcoin, Dash, OMG, Bitcoin Cash, Ether, Ethereum Classic, Etc Has MacOS/Linux versions. You control your private keys and it has Shapeshift integration.
Electrum Wallet Bitcoin You control your private keys
Bitcoin Core Client Bitcoin The original client, it downloads the blockchain and you control your private keys

Hardware Wallets

Hardware wallets are the real deal. You can say it puts your bitcoin offline, but technically, you put your private keys offline, away from the Internet where everything can be hacked if you’re not careful. They are also generally expensive. However, many cryptocurrency websites agree on one thing – they are probably one of the most secure ways of keeping your coins safe.

Best Hardware Wallets Philippines
Wallet Supported Coins Notes
Ledger Wallet Bitcoin, Ether, Litecoin, Ripple, Bitcoin Cash You Control your Private Keys. It can also hook with other wallets
Trezor Wallet Bitcoin, Litecoin, Ether, Ethereum Classic, Dogecoin, Dash, Zcash You control your private keys
Keepkey Wallet Bitcoin, Litecoin, Dogecoin, Dash, Ether You control your private keys

Note: You can also check out the Ledger Nano S Wallet at Lazada!

Paper Wallets

Dubbed as the least expensive way to keep your coins.  The private addresses are literally printed on a paper. We can recommend two:

Best Cryptocurrency Wallet for Specific Coins

We have a lot of choices when it comes to bitcoin and ether. But for the majority of altcoins, you will be hard-pressed to look for one other than the official ones on the altcoin’s website.

Safety Tips for Cryptocurrency Wallets

Unlike keeping your wallets in an exchange, the crypto wallet represents your best bet in keeping your coins safer. Here are some tips:

  1. If the wallet has a password, don’t give the password to someone else. Write it on a piece of paper and make sure it’s a complicated one.
  2. Never ever tell your private keys to someone else. Never put your private keys in plain text format. A virus can corrupt it and you can bid your coins goodbye.
  3. Create multiple backups of your files that are related to your coins. If you did not print your bitcoin paper wallet, create backups of it and secure it with passwords, zip file, whatever you can do to make sure no one can access it but you.
  4. If you opt for a hardware wallet, like Trezor. Make sure it’s genuine! Also, if your hardware wallet contains an inordinate number of coins, you should keep it somewhere safe. Not on top of your refrigerator, but somewhere safe, like a vault. We’re serious.

What wallets do you use? Do you use the paper option? Or do you have a hardware wallet? Hit us up on Facebook!

Technically, the wallet is not a place where you store your coins. The wallet gives you access to your coins via the combination of your private and public keys. For the purpose of this article, we opted to simplify it and say the wallet is where the bitcoins are stored.

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