A Complete Guide to Bitcoin in the Philippines
Discover everything about bitcoin in the Philippines, including its origins, how to buy it through licensed exchanges, and key platforms like Coins.ph, Coexstar, and Binance. The article guides beginners on secure trading methods and highlights the country's cryptocurrency-friendly environment, making it easy for Filipinos to start investing in digital assets safely and conveniently.
Bitcoin has been capturing the world's attention lately. Reports highlight that affluent investors and major corporations like Tesla are investing heavily in digital currency. In March 2021, bitcoin surged to an all-time high of $60,000, sparking discussions of its potential as the future of finance. If you're in the Philippines and curious about how to acquire bitcoin, you're in the right place. Here are the essentials about bitcoin and the best platforms to purchase it locally.
What exactly is bitcoin?
Created in 2009 by an anonymous individual or group known as Satoshi Nakamoto, bitcoin is a purely digital form of currency. It operates without a central authority, meaning transactions are peer-to-peer without banks or government oversight. Bitcoin transactions are recorded on a public ledger called the blockchain, which secures privacy by keeping owner identities anonymous, as no personal data like names or account details are linked to transactions.
How to purchase bitcoin in the Philippines?
The Philippines embraces cryptocurrency, making it straightforward to buy bitcoin across various platforms. The simplest method is through online exchanges authorized by the Bangko Sentral ng Pilipinas (BSP). Besides exchanges, you can also use peer-to-peer markets, bitcoin ATMs, and other services. Here are some leading exchanges available locally:
Coins.ph
Established in 2014, Coins.ph is among the earliest and most trusted cryptocurrency platforms in the Philippines. Regulated by BSP, it serves over 10 million users and offers mobile apps for easy trading on smartphones.
Coexstar
Licensed by BSP and registered with SEC, Coexstar supports trading in PHP, USDT, and KRWC. It allows users to buy and sell bitcoin and other cryptocurrencies, often with promotional sign-up rewards.
Binance
As one of the largest worldwide exchanges, Binance facilitates peer-to-peer trading in PHP and offers a wide range of cryptocurrencies, including bitcoin, ETH, BNB, and USDT. Signing up is straightforward and provides flexible trading options.
To get started, simply create an account and deposit local currency via approved payment methods. The BSP has authorized other platforms such as Atomtrans Tech, Bexpress, Bloomsolutions (Bloomx), Fyntegrate (PDAX), Telcoin, VHCEX, and Etranss Remittance for cryptocurrency trading as well.
