Wondering how to buy Bitcoin in the Philippines? With cryptocurrency gaining popularity around the world, more and more Filipinos are looking to get involved in the crypto economy.
However, the decentralized nature of virtual currencies can make getting started seem intimidating. Fear not - this guide will outline the top 7 cryptocurrency exchanges that make it easy to buy Bitcoin in the Philippines. By the end, you'll feel confident purchasing your first satoshis.
BEST CRYPTO EXCHANGES IN THE PHILIPPINES 2024:
Binance - The largest crypto exchange by trading volume
KuCoin - User-friendly interface with low fees
Coinbase - Popular global exchange for beginners
Bybit - Feature-rich exchange for experienced traders
Crypto.com - Easy crypto banking with high rewards
OKX - Powerful trading tools & derivatives options
Coins.ph - Buy crypto with local banks & wallets
7 smart ways Filipino users can buy Bitcoin in 2024
We've analyzed and compiled the top 7 exchanges based on features like fees, supported payment methods, available crypto assets, reputation, and more. So, without further ado, let's get started.
1. Binance - The world's largest cryptocurrency exchange
One of the largest crypto exchanges globally, Binance is also quite popular for buying Bitcoin in the Philippines. Established in 2017, Binance has over 400+ coins and tokens listed and sees billions in daily trading volumes. This enormous scope and liquidity make it appealing to Philippine traders and make it one of the best crypto exchanges in the world.
Binance is fully licensed and legal to use in the Philippines. The platform offers a basic yet powerful interface suitable for beginners and experienced traders alike. Payment methods include bank transfers, credit/debit cards, and various cryptocurrencies. Funds can be safely stored in Binance wallets with optional 2-factor authentication for added security.
Binance's fees are also very reasonable. Maker and taker trading fees are capped at 0.1%, and basic account verification is not required to deposit and trade smaller amounts. Customer support is top-notch, with live chat, email, and a comprehensive help center available 24/7.
All things considered, Binance is a great entry-level exchange for Filipinos keen on exploring crypto. Just be aware that its interface can feel overwhelming for newcomers - but free tutorials are on hand to learn the ropes.
Trading fees 0.1% for makers, 0.1% for takers Supported cryptos 381 User-friendliness Advanced trading features for pros but can be overwhelming for beginners Security Binance maintains cold wallets to store most of its digital assets securely Verification required Basic personal info for withdrawals up to 2 BTC/Day, further verification for higher limits
Pros:
Supports over 400 cryptocurrencies for trading
Low fees starting at 0.1% per trade
Intuitive mobile and desktop platforms
Earn up to 15% annual interest on crypto deposits
Wide range of options for beginners and experts
Cons:
A complicated range of products can be overwhelming
Regulatory issues in some countries
Visit Binance
2. KuCoin - User-friendly exchange with low fees
KuCoin proudly wears its Singaporean origins, but it remains fairly accessible to Filipino users. Much like Binance, it offers a huge selection of coins and trading pairs. Funding methods here include credit/debit cards, bank transfers, cryptocurrencies, and cash deposits via Coins.ph.
KuCoin's trading fees are competitive, too - a flat 0.1% on all trades. Withdrawal limits for new accounts are initially low but increase based on the verification level. Customer support quality varies but is generally solid for common issues.
A key highlight of Kucoin is its KuCoin Bonus program. New users receive $10 worth of various KuCoin native tokens just for registration - free money is always welcome! Kucoin also runs giveaways and a referral program for extra perks.
KuCoin delivers a feature-rich trading experience at affordable prices. It's well worth considering as one's main crypto hub in the Philippines. Just be aware that its interface is fairly basic. Still, newbies should find it very manageable with a bit of exploring.
Trading fees 0.1% maker, 0.1% taker fees which is quite low Supported cryptos Over 720 cryptocurrencies User interface Clean and intuitive interface that's easy for beginners to navigate Security "Cold wallet" storage for the bulk of digital assets held in reserve Verification not required For basic account functions like spot trading
Pros:
Fees as low as 0.1%
Over 780 coins supported
Intuitive mobile and desktop platforms
Generous referral program
User rewards system provides cashback
Cons:
Less regulation than larger exchanges
Mobile app navigation could be improved
Visit KuCoin
3. Coinbase - Simple and trusted exchange for new users
Coinbase is among the safest, most recognized names in crypto for beginners. Its availability extends to Filipino users, too. The Coinbase platform comes across as very polished and streamlined in its goal of being beginner-focused.
Payment methods here include credit/debit cards as well as localized bank transfers. Account setup is pretty seamless requiring only basic KYC verification. Withdrawals are securely processed to local bank accounts in a matter of days.
That said, Coinbase does levy relatively higher trading fees compared to the competition at around 1.5% per trade. Security also depends more on user diligence when authentication is done. Still, it remains a viable crypto gateway for risk-averse newcomers in the Philippines.
While not the cheapest option, Coinbase gives Filipinos well-rounded support and reliability when dipping their toes into crypto for the first time. Just be willing to pay a slight premium for that ease of use and safety.
Trading fees 0.5% - 1.5% per trade depending on payment method Supported cryptos Over 220 cryptocurrencies User experience Beginner-friendly design with simple buy/sell flows Security Industry-standard bank-level security with insured crypto storage Verification needed ID verification is required for depositing/withdrawing funds
Pros:
Simple and intuitive interface is ideal for beginners
Insured digital wallet provides security assurances
Widely supported in the US and Europe
Access to dozens of popular cryptocurrencies
Cons:
Higher fees than competitor exchanges
Limited advanced order types
Visit Coinbase
4. Bybit - Leading platform for advanced trading
Bybit wears its derivatives exchange credentials proudly, bringing highly competitive perpetual contracts and futures trading to Filipino traders. While not quite as beginner-friendly as the above options for buying Bitcoin, it deserves a place on this list due to its low fees and powerful tools.
Payment methods here include cryptocurrencies and localized bank transfers in partnership with Coins.ph. Verification is speedy via photos of identity documents. Funding and withdrawals are seamless for linked bank accounts or crypto wallets.
Bybit truly stands out for trading though - with up to 100x leverage available on futures contracts. Maker/taker fees are low at 0.075% with a generous rebate program too. Advanced traders will love customizing their risk exposures.
That said, Bybit's power does come with risks for novices. So it may be best explored gradually after grasping simpler crypto purchases on the above platforms first. However, the opportunity for amplified gains through leverage makes Bybit a favorite for experienced Filipino traders.
Trading fees Makers and takers pay 0.075% fee Supported cryptos Over 390 cryptocurrencies User interface Clean and customizable trading interface for pros Security Regular system audits and insurance funds to protect traders Verification required Basic for spot trades, advanced verification for futures/margin
Pros:
Industry-leading trading tools
Up to 100x leverage for futures contracts
Low trading fees starting at 0.075%
Wide selection of crypto assets
Robust API for algorithmic traders
Cons:
Steep learning curve for beginners
Not well suited for casual or Hodl investing
Visit Bybit
5. Crypto.com - Earn rewards on purchases and holdings
Crypto.com carries itself more like a digital bank than an old-school exchange. Its flagship offering - the Crypto.com App - delivers a highly integrated platform experience for the Philippines.
Functions include buying/selling dozens of coins, competitive credit/debit card funding, generous crypto earn accounts, NFT marketplace access, and physical Visa cards that earn up to 8% p.a. cashback. Verification is straightforward, requiring only a photo ID.
Transaction fees are middle-of-the-road at 0.4% as a "Ruby Steel" user tier. Deposits and withdrawals are seamless via local bank transfers. Crypto.com also runs frequent promotions for new users, providing discounts and sign-up bonuses for buying Bitcoin.
While not the most decentralized option, Crypto.com's growing product suite offers Filipinos great overall value with each new feature. The streamlined mobile experience makes it ideal for casual crypto dabbling or spending bitcoin directly with FIAT credits.
Trading fees 0.4% transaction fee on top of the spread Supported cryptos Over 300 cryptocurrencies Security Funds secured in insurance-protected accounts Ease of use Sleek mobile-focused ecosystem to manage crypto & loans Rewards Program Generous cashback programs for debit cards & purchases
Pros:
Up to 8% cashback tiers on eligible purchases
Earn up to 14.5% p.a. interest on crypto deposits
Supports 325+ cryptocurrencies
Intuitive mobile apps
Cons:
Higher minimum requirements than competitors
Average fees compared to top exchanges
Visit Crypto.com
6. OKX - Competitive trading fees and tools
OKX marks itself out as a high-powered crypto exchange powering both spot and derivatives markets. For Filipino traders, it delivers access to over 320 assets including major coins, and NFTs, as well as leveraged trading via futures and options.
Spot trading fees range from 0.1% down to 0% for high-volume traders, making OKX very competitive on pricing. Funding methods involve localized bank transfers, wire transfers, and various cryptocurrencies. Customer support is provided 24/7.
Perhaps the biggest selling point for OKX in the Philippines is its focus on futures trading. Perpetual contracts offer up to 100x leverage while weekly futures are available with up to 50x leverage depending on the pair. Tools like a clean interface and advanced order types optimize the experience.
OKX brings professional-grade cryptocurrency trading to Filipinos. While not ideal for newbies due to its complexity, experienced traders will appreciate its high performance and customization options compared to typical spot exchanges above.
Trading fees 0.1% fee on spot trades, 0.02% on derivatives Supported cryptos Over 300 crypto assets available for spot/derivatives trading User experience Advanced charting tools & order types for pros Security High-level data protection with independent audits and insurance Verification required Enhanced checks needed for high withdrawal limits
Pros:
Industry-low maker/taker fees from 0.01%
User loyalty program provides rewards
Competitive futures and derivatives offerings
Strong selection of altcoins
Cons:
Mobile app navigation could be improved
Support available primarily through live chat
Visit OKX
7. Coins.ph - Leading crypto platform in the Philippines
Coins.ph is a Philippine fintech pioneer powering the local crypto ecosystem since 2014. While primarily a crypto cash-in/cash-out application, it does let users easily buy bitcoin with as little as ₱100 via linked debit cards or local bank transfer.
Buys enjoy low 0.6% transaction fees, with coins credited instantly to the Coins.ph wallet. Withdrawals take just 1-2 business days to clear to a linked BDO or GCash account. Identity verification is simple via selfie photos, too.
Where Coins.ph shines though is its utility. Sold Bitcoin can quickly reload prepaid credits for calling, payment of bills, and merchant purchases across the Philippines. The service truly bridges the crypto and FIAT worlds seamlessly.
While trading features are basic, Coins.ph achieves its goal of frictionlessly onboarding Filipinos to easily earn, store, and spend their cryptocurrency locally. Other exchanges may offer more, but none simplify access quite like Coins.ph in its home market.
Trading fees 0.6% trading fees, 1% exchange fee on purchases Supported cryptos Over 70 cryptocurrencies User experience Simple mobile-focused wallet interface for beginners Ease of access Buy crypto conveniently via local banks & online wallets Verification needed Basic KYC to complete transactions over ₱50,000
Pros:
Buy and sell Bitcoin, Ethereum, and more pesos
Convert crypto to mobile money and cash out at 7-Eleven
Wide network of over 30,000 partner stores
Low trading fees at 1% or less
Cons:
Fewer advanced trading features than top global exchanges
Peso deposits have daily limits
Visit Coins.ph
How to buy Bitcoin in the Philippines?
Now that we've covered your options let's dive into the key steps for purchasing Bitcoin on these platforms while in the Philippines:
Sign up and verify your identity - All reputable exchanges require verifying your identity by providing your name, address, and ID, and taking a selfie. This process ensures compliance with know-your-customer laws.
Deposit Philippine Pesos (PHP) - Most exchanges allow funding your account with a bank transfer in PHP. Be aware of deposit limits, which can range from 10,000 PHP to unlimited per day.
Place a buy order for Bitcoin - Once funds clear, use the exchange's trading interface to place a limit or market buy order for BTC using your PHP balance.
Store your Bitcoins securely - It's recommended to withdraw your BTC to a personal wallet for which you control the private keys. Hardware wallets provide the highest level of security.
Start trading and earning rewards - From here, you can begin exploring features like margin trading, futures, crypto cards or earning interest to grow your portfolio over time.
The bottom line: Where to buy Bitcoin in the Philippines?
These 7 cryptocurrency platforms provide Filipinos with safe, trusted and fully compliant options for getting started with bitcoin and beyond. Each caters to distinct needs, so weigh your preferred style, required functionality and risk tolerance before choosing where to open an account today.
