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Buy Bitcoin & Crypto in Philippines

Bryan Aulds
Bryan Aulds
Updated: 1st November 2020

Disclaimer: This page includes affiliate links. When you make a purchase through one of our links, we may receive commissions.

The Phillipines is an exciting new hot spot for Bitcoin adoption. All 7 eleven stores in the country feature Bitcoin ATMs, and there are many exchanges and meetups to choose from.

LocalBitcoins daily trading volume in Philippines is .... The current price of Bitcoin is .... There are ... Bitcoin ATMs available to Philippines residents. And ... businesses accept Bitcoin in Philippines.

Most Popular Exchanges in Philippines

Coinmama Logo

Coinmama

Founded 2013

Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.


Kraken Logo

Kraken

Founded 2011

Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.


CHAPTER 1

Bitcoin & Cryptocurrency Trading in Philippines

The cryptocurrency exchange you use will depend on what your goals are. Some people buy only bitcoin, while some buy many cryptos. Some trade, while some buy and hold.

We'll outline some of the best options for each type of buyer and trader.

Bitcoin mobile transfer
Bitcoin mobile transfer

Best for Buying

If your only goal is to buy Bitcoin, Ethereum or another coin, the following exchanges have smooth and easy buying processes:

Bitcoin blockchain
Bitcoin blockchain

Best for Trading

If you plan on trading in and out of different coins, the following exchanges support many cryptocurrencies:

Now, let's give a bit deeper into some of the exchanges mentioned above with our detailed overviews.

CHAPTER 2

Top Cryptocurrency & Bitcoin Exchanges in Philippines

Coinmama Logo

Founded 2013

Coinmama Logo

Coinmama Popular

Founded 2013

Coinmama Popular

Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.

Visit Site More

PROS

  • Super Fast Withdrawal
  • Higher privacy that most exchanges
  • Super convienent and easy to use
  • One of the few places to buy bitcoin using credit cards

CONS

  • Higher fees than some other exchanges

Supported Fiat: Yes

Payment methods include: Credit Card Debit Card Wire Transfer

Headquarters: Israel

Bitcoin mobile transfer icon

Ease of Use

Super easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Medium

Reputation icon

Reputation

Excellent

Limits icon

Limits

-

Visit Site Read Review
Kraken Logo

Founded 2011

Kraken Logo

Kraken Popular

Founded 2011

Kraken Popular

Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.

Visit Site More

PROS

  • Excellent Security record
  • Large Volume

CONS

  • Slow Customer Service response
  • Slow account verificaiton

Supported Fiat: Yes

Payment methods include: Debit Card Bank Transfer Cash BACs Chaps

Headquarters: San Francisco, USA

Bitcoin mobile transfer icon

Ease of Use

Super easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Medium

Visit Site Read Review
CHAPTER 3

Best Bitcoin Wallet for Philippines

Bitcoin wallets are just software or hardware, so the truth is that wallets can work in any country.

However, we've highlighted some Bitcoin wallets we think would be good for Philippines users here.

Trezor Model T
Best for Security

Trezor Model T

Secure storage with high res color touch screen

Read Review

The Trezor Model T is perfect for long term holders of many coins. It's full color high resolution touch screen makes it easy to navigate and advanced features make it the most secure hardware wallet

Ledger Nano X
Best for Traders

Ledger Nano X

Secure Storage with Bluetooth Functionality

Read Review

The Ledger Nano X is great for traders who need to access their coins on the go. The on-board bluetooth functionality allows you to access your coins on your mobile device.

Electrum Logo
Best for Desktop

Electrum

Multi-feature desktop wallet that works with hardware wallets.

Visit Website

Electrum is a Bitcoin-only desktop wallet that offers many advanced features for higher level users. It is best paired with a hardware wallet.

CHAPTER 4

More Bitcoin Exchanges in Philippines

Most Popular Exchanges in Philippines

Coinmama Logo

Coinmama

Founded 2013

Coinmama allows users to easily and quickly make bitcoin purchases from almost anywhere in the world using many different payment methods, including credit cards.


Kraken Logo

Kraken

Founded 2011

Started in 2011, Kraken was one of the first Bitcoin exchanges. Founder Jesse Powell started the exchange after helping with MTGOX's 2011 crisis/hack. It was during this experience that Jesse realized the importance of security for a bitcoin exchange. Determined to do better, Jesse started what would become Kraken later that year. As a testiment to the focus on security, Kraken has never been hacked and remains of the of top Bitcoin exchanges in the world.


Binance Logo

Founded 2017

Binance Logo

Binance

Founded 2017

Binance

Binance's US arm has fewer currency pairs than thier main exchange, but still has a solid offering. They offer fiat on and off ramps as well, allowing you to get new money into the market quickly.

Visit Site More

PROS

  • Easy Fiat Deposit
  • Dollar Cost Averaging tool

CONS

  • Less pairs than Binance main site

Supported Fiat: Yes

Payment methods include: Credit Card Debit Card Bank Transfer Wire Transfer

Headquarters: San Francisco, USA

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Average

Limits icon

Limits

High

Visit Site Read Review
Cex.io Logo

Founded 2013

Cex.io Logo

Cex.io

Founded 2013

Cex.io

Since its founding in 2013, CEX.io has never lost any user funds. As a pioneer in credit card payments for crypto, CEX has kept it easy to access and buy coins. Since it supports 99% of all counties,you can use CEX no matter where you are to buy and sell your favorite crypto assets

Visit Site More

PROS

  • Supports 99% of all countries
  • Multiple Fiat pairs
  • No customer funds lost
  • Easy account creation

CONS

  • Slow withdraw times

Supported Fiat: Yes

Payment methods include: Credit Card Debit Card Bank Transfer SEPA SWIFT

Headquarters: London, GBR

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Medium

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
BitMEX Logo

Founded 2014

BitMEX Logo

BitMEX

Founded 2014

BitMEX

Started by commodities trader Arthur Hayes in 2014, BitMEX quickly became the leading place to make leveraged bets on the price of bitcoin. Thier unique Bitcoin only depoist/withdraw system, along with top notch security have continued to set it apart from challengers.

Visit Site More

PROS

  • Up to 100X leverage
  • New products constantly rolled out
  • Top Notch Security

CONS

  • For Advanced Traders

Supported Fiat: No

Payment methods include: Bitcoin

Headquarters: SYC

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Unlimited

Visit Site Read Review
BTCC Logo

Founded 2011

BTCC Logo

BTCC

Founded 2011

BTCC

As the oldest exchange in China, BTCC has a good reputation that only longevity can earn. Easy fiat on and off ramps and many cryptocurriencies to trade continue to make BTCC China's premere exchange

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PROS

  • Easy fiat on and off ramps

CONS

  • Trader Privacy is extremely low.

Supported Fiat: Yes

Payment methods include: Credit Card Debit Card Coin Payments Wire Transfer

Headquarters: Hong Kong, China

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
LocalCryptos Logo

Founded 2012

LocalCryptos Logo

LocalCryptos

Founded 2012

LocalCryptos

LocalCryptos is a Peer to Peer exchange that escrows funds, allowing two parties to trade cryptocurriences with no prior knowledge of each other.

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PROS

  • Peer to Peer

CONS

  • Can be slow. Trade speed depends upon the speed of the other party, not LocalCryptos

Supported Fiat: Yes

Payment methods include: Credit Card Debit Card Bank Transfer Coin Payments Cash

Headquarters: Richmond, Australia

Bitcoin mobile transfer icon

Ease of Use

Average

Privacy icon

Privacy

High

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

-

Visit Site Read Review
KuCoin Logo

Founded 2013

KuCoin Logo

KuCoin

Founded 2013

KuCoin

As one of the first exchanges anywhere, KuCoin has grown into a very large operation, supporting hundreds of trading pairs along with derivatives and futures.

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PROS

  • Many trading pairs, Low fees, Large trading Volume

CONS

  • Low Privacy, Can be overwhelming for new users

Supported Fiat: Yes

Payment methods include: Credit Card Debit Card Bank Transfer Paypal Interac e-Transfer

Headquarters: Singapore

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
eToro Logo

Founded 2006

eToro Logo

eToro

Founded 2006

eToro

eToro was started before bitcoin existed, however it recently has added bitcoin and cryptocurrency trading to its platform. Now it is one of the most trusted places to buy, sell and trade various cryptocurriencies. It's large platform allows it to have low fees and spreads.

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PROS

  • Low fees
  • In businisses longer than any other crypto exchange

CONS

  • 75% of retail investor accounts lose money when trading with this provider
  • Withdrawals can be slow

Supported Fiat: Yes

Payment methods include: Bank Transfer

Headquarters: UK

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Excellent

Limits icon

Limits

Unlimited

Visit Site Read Review
Bittrex Logo

Founded 2014

Bittrex Logo

Bittrex

Founded 2014

Bittrex

Founded in 2014, Bittrex was a mainstay of crypto trading during the 2017 bull market. It has many cryptocurrency paiirs and now even allows Fiat on boarding.

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PROS

  • Many Currency Pairs

CONS

  • Extensive KYC

Supported Fiat: Yes

Payment methods include: -

Headquarters: Seattle, Washington, USA

Bitcoin mobile transfer icon

Ease of Use

Average

Privacy icon

Privacy

Low

Speed icon

Speed

-

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

Medium

Visit Site Read Review
Bitit Logo

Founded 2015

Bitit Logo

Bitit

Founded 2015

Bitit

EU based exchange supporting 15 different fiat trading pairs and dozens of coins beyond Bitcoin. This is one of the more established exchanges with a long track record and a clean UI that is easy for newbies and veterans alike.

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PROS

  • 15 fiat trading pairs
  • Multiple payment options supported
  • 50 countries supported
  • €10,000 initial weekly Neosurf cash payment limit with only 8% fees

CONS

  • Very low limits to buy without KYC
  • Tiny weekly €500 limit for credit and debit card purchases
  • Low limits overall

Supported Fiat: Yes

Payment methods include: Credit Card Bank Transfer Cash Cash Libs Wire Transfer

Headquarters: Paris, FRA

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Slow

Fees icon

Fees

Low

Reputation icon

Reputation

Average

Limits icon

Limits

Medium

Visit Site Read Review
Paymium Logo

Founded 2011

Paymium Logo

Paymium

Founded 2011

Paymium

Paymium is one of the oldest exchanges in Europe. It is compliant with all EU regulations and is extremily well trusted. Paymium is based in France and supports several payment methods, including SEPA transfers and credit card purchases.

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PROS

  • High limits for SEPA transfers
  • Makers get paid to trade with low taker fees
  • Great mobile support for trading on the go

CONS

  • Not the easiest exchange to use
  • Limited desposit methods that only supports euros

Supported Fiat: -

Payment methods include: Credit Card Bank Transfer SEPA SWIFT Apple Pay

Headquarters: Paris, FRA

Bitcoin mobile transfer icon

Ease of Use

Easy

Privacy icon

Privacy

Low

Speed icon

Speed

Super fast

Fees icon

Fees

Low

Reputation icon

Reputation

Good

Limits icon

Limits

High

Visit Site Read Review
BestChange Logo

Founded 2007

BestChange Logo

BestChange

Founded 2007

BestChange

BestChange is a specialized online e-currency exchange service that monitors rates for dozens of popular conversion pairs in near real-time and offers one-click access to lists of reliable e-currency exchangers capable of helping you complete your transaction quickly and efficiently.

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PROS

  • Just about every kind of payment option you could think of
  • Very private if you pick the right options

CONS

  • Doesn't sell Bitcoin directly
  • just exhaustive directory for how to acquire it with different methods.

Supported Fiat: Yes

Payment methods include: -

Headquarters: RUS

Bitcoin mobile transfer icon

Ease of Use

Average

Privacy icon

Privacy

High

Speed icon

Speed

-

Fees icon

Fees

High

Reputation icon

Reputation

Excellent

Limits icon

Limits

-

Visit Site Read Review

The history of Bitcoin in Philippines

Map of Philippines

Despite not technically being considered legal tender, Bitcoin, in addition to many other virtual currencies, is legal––and not only that, it is now regulated by the Central Bank of the Philippines (CBP). Today, there are many places in the Philippines where you can purchase bitcoin, including crypto ATMs and peer-to-peer marketplaces.

The current status of Bitcoin in Philippines

Bitcoin network concept

In 2017, The Central Bank of the Philippines issued guidelines concerning Bitcoin and other virtual currencies, specifically highlighting that since such cryptocurrencies are not backed by a central bank or a specific commodity and are not guaranteed by any country, that they are therefore not legal tender in the Philippines.

However, since Bitcoin and other virtual currencies are used as a conduit to providing certain financial services, such as payment transactions, entities that provide these types of services using Bitcoin and the like must register with the Central Bank of the Philippines and adopt proper measures to ensure safety and manage risks associated with such currencies. What’s more, these guidelines highlight potential penalties applicable to those entities that conduct crypto-exchange operations without the authorization.

Anybody looking to deal with a cryptocurrency like Bitcoin must have a dedicated wallet for storing their assets. Some of the most popular exchanges for buying Bitcoin in the Philippines include Coinmama, eToro, and BuyBitcoin.ph (which bills itself as the easiest way to buy bitcoin in the Philippines).

Explore more exchanges

Data sources: LocalBitcoins.com (daily trading volumes and price), coinmap (ATMs and venues).