Updated on November 19, 2020:
May 30, 2019 – 10 years ago, Satoshi Nakamoto proposed an idea of a digital currency which we now know as Bitcoin. It runs on a technology that we now called blockchain.
Today, there are numerous other cryptocurrencies aside from Bitcoin. While these cryptos have different use cases, some of them are similar to Bitcoin in functioning as a payment method and store of value. Some of them operate on blockchains that can be used for building decentralized applications.
Today we will talk about where to buy these cryptocurrencies in the Philippines. Because while it’s easy to purchase Bitcoins with just one trip to the convenience store, you might find it difficult to buy cryptocurrencies such as ethereum, tron, Bitcoin cash, and the likes. This article is meant to show you that it is indeed possible to buy these altcoins directly. And if it’s available for buying and selling in PHP, we will tell you how to buy them in other ways.
This article is more focused to general cryptocurrencies.
Table of Contents.
- 1 How to Buy Cryptocurrency in the Philippines
- 2 PH Cryptocurrency Wallets
- 3 PH BSP-Licensed Cryptocurrency Exchanges
- 4 Bitcoin P2P (Peer-to-Peer) Marketplaces
- 5 Cryptocurrency ATMs
- 6 Credit Cards and Debit Cards
- 7 Over The Counters (OTCs)
- 8 Specific Cryptocurrencies
- 9 Other Ways to Buy Cryptocurrencies
- 10 Recommended Bank to Deposit Earnings from Crypto?
- 11 How about Paymaya?
- 12 If PHP isn’t an option: International Cryptocurrency Exchanges
How to Buy Cryptocurrency in the Philippines
PH Cryptocurrency Wallets
Especially for first-timers, the first place you should look to buy crypto are PH-based crypto wallets. These wallets allow you to buy cryptocurrencies such as Bitcoin and litecoin with fiat money (in our case Philippine Pesos or PHP).
|Coins.ph||Crypto Wallet, Buy and Sell||Multiple cryptocurrencies|
|BuyBitcoin*||Buy and Sell||Bitcoin|
|Tagcash||Crypto Wallet, Buy and Sell||Bitcoin, litecoin, XRP, XLM, Tagx|
|Paylance.com (via Bloom license)||Crypto Wallet, Buy and Sell||Bitcoin, USDT|
|Paxful||Crypto Wallet, Buy and Sell||Bitcoin|
|Bloom||Buy and Sell||Bitcoin, USDT, SLP, AXS, ETH|
|Moneybees||Buy and Sell||Bitcoin, USDT|
How to cash in crypto wallets
For Coins.ph, it is recommended that you top up your account via 7-eleven. Go to the nearest 7-eleven store. Add money via one of the Cliq kiosks. Php will be funded to your Coins.ph account. After that, you can convert your Php to any of the supported coins.
PH BSP-Licensed Cryptocurrency Exchanges
|Crypto Exchange||Status||(Currently) Supported Cryptocurrencies*|
|PDAX||Live||BTC, XRP, LTC, BCH, ETH (to PHP)|
|B-Expro / B-Express||Live||BTC, ETH (to PHP)|
|Coins Pro||Live||BTC, BCH, ETH, XRP (to PHP)|
|Coinvil||Website Live||BTC, ETH, XRP, LTC, VRG, CSMT (to PHP)|
|Citadax||Not Yet Live||BTC, ETH (to PHP)|
|GOW Exchange||Live||BTC (to PHP)**|
|Juan Exchange||Website Live||BTC, ETH, USDT (to PHP)|
|VHCEX||Live||BTC, ETH, VHC, VHW, OSE, HWGL, OVO, XEM, OSV, REVS (to PHP)|
|Coexstar||Live||BTC, ETH, more coins (to PHP)|
Above are cryptocurrency exchanges registered in the Philippines that offer the option to buy cryptocurrency with fiat money (Philippine Pesos). Most of them allows deposits and withdrawals through InstaPay, Gcash, and PayMaya.
Bitcoin P2P (Peer-to-Peer) Marketplaces
P2P Marketplaces are websites that facilitate buying and selling of cryptocurrency between to parties, with the website only acting as an escrow to keep both parties safe and secure during the transaction
|Crypto P2P Marketplace||Supported Pairs||Payment/Withdrawal Options|
|Paxful||BTC – Php||Gcash, PayMaya, Banks, PayPal|
|LocalBitcoins||BTC – Php||Gcash, PayMaya, Banks, PayPal|
|Binance P2P||BTC/USDT – Php||Gcash, PayMaya, InstaPay, Banks|
|The Ark by UnionBank, Ayala, Makati||Bitcoin|
|Sunette Tower Hotel Manila||Bitcoin, Litecoin|
The UnionBank Crypto ATM above allows buying and selling of Bitcoin. The crypto ATM at Sunette Tower allows buying of Bitcoin and litecoin only.
Credit Cards and Debit Cards
|PDAX||BTC, XRP, LTC, BCH, ETH (to PHP)|
|Abra||Bitcoin, 0x, augur, basic attention token, Bitcoin cash, Bitcoin gold, cardano, dash, digibyte, dogecoin, eos, ethereum, ethereum classic, golem, lisk, litecoin, monero, NEM, neo, omisego, qtum, siacoin, status, stellar lumens, stratis, tron, verge, vertcoin, XRP, zcash|
|CEX||Bitcoin, ethereum, Bitcoin cash, Bitcoin gold, dash, litecoin, XRP, zec|
|Changelly||(notable only): Bitcoin, litecoin, xrp, ehereum, Bitcoin cash, bat, enjin, btt, tron, doge, dash, neo, nem, xlm, zrx|
The above websites will allow you to purchase crypto in exchange for USD. Most of the time, the conversion is handled by payment solutions firm Simplex.
Over The Counters (OTCs)
|Moneybees||Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin|
|Bexpress||G/F UNIT 5 Aseana PowerStation Macapagal, Paranaque City||Bitcoin, ethereum|
|Czarina (via Bloom)||Bitcoin, ethereum|
|DA5 (via Bloom)||Bitcoin|
In this part of the article, we will check with some locally in-demand cryptocurrencies:
|Coin||Where to Buy/Exchange|
|NEM / XEM||VHCEX, Changelly, NEM Nano Wallet (buy option inside the Nano Wallet),|
|BAT||Abra, Brave Browser|
|XRP||Coins, Abra, Moneybees|
Other Ways to Buy Cryptocurrencies
The last tip is buying through peer-to-peer marketplaces and face-to-face buying and selling. Peer-to-peer marketplaces like Paxful and LocalBitcoins exist to provide an escrow solution to two people wishing to exchange their crypto. The last method is of course meeting the buyer or seller directly but make sure you can vouch the person you are meeting before proceeding with such transactions.
Recommended Bank to Deposit Earnings from Crypto?
We don’t have a recommended bank but we’ve been using UnionBank lately.
How about Paymaya?
PDAX and Coins.ph allow cash in through Paymaya.
If PHP isn’t an option: International Cryptocurrency Exchanges
Now, the oftenmost way to buy crypto is to convert your Bitcoins at Coins.ph and transfer it to a foreign crypto exchange. Examples of which are Binance and OKex.
- Binance – Trade your Bitcoin to other crypto. Perhaps the most liquid exchange in the world.
- OKEx – Trade Bitcoin to other crypto. A top 10 cryptocurrency exchange
- CEX – Purchase Bitcoin with credit card.
Do you know of other ways to purchase cryptocurrencies in the Philippines? Let us know in the comments below!
This article originally appeared on BitPinas: 15+ Places/Websites to Buy Cryptocurrency in the Philippines