How to Buy Cryptocurrency in the Philippines (2025)

Cryptocurrency adoption in the Philippines is on the rise, with more Filipinos investing in digital assets for trading, long-term investment, and even remittances. Whether you’re a beginner exploring your first crypto purchase or an experienced trader looking for the best platforms, understanding the buying, selling, and security processes is crucial.

This guide provides a comprehensive overview of how to buy, sell, and manage cryptocurrency in the Philippines. We’ll walk you through the best exchanges, types of cryptocurrencies, latest regulations, and tax implications for crypto investors in 2025.

What is Cryptocurrency?

Cryptocurrency is a form of digital or virtual currency that operates on decentralized networks powered by blockchain technology. Unlike traditional money controlled by governments and banks, cryptocurrencies offer secure, transparent, and borderless transactions.

Some of the most well-known cryptocurrencies include:

• Bitcoin (BTC) – Often referred to as “digital gold,” used for payments and long-term investment.
• Ethereum (ETH) – Known for smart contracts and decentralized finance (DeFi) applications.
• Tether (USDT) – A stablecoin pegged to the US dollar, minimizing price fluctuations.
• XRP (XRP) – Used for cross-border payments and financial transactions.
• BNB (BNB) – The native token of Binance, widely used for trading fees and DeFi projects.

With thousands of cryptocurrencies available, it’s important to research which ones align with your investment goals.

How to Buy Cryptocurrency in the Philippines (Step-by-Step Guide)

Step 1: Choose a Cryptocurrency Exchange

To buy cryptocurrency in the Philippines, you first need to register on a licensed crypto exchange. Some of the most popular platforms include:

• PDAX – A local exchange with no hidden fees.
• Coins.ph – Allows crypto purchases for as low as ₱5.
• Binance – A global exchange with low trading fees.
• Maya – Lets users buy and sell crypto within the Maya app.
• Moneybees – Provides over-the-counter (OTC) transactions.

When selecting an exchange, consider factors such as security, fees, ease of use, and supported cryptocurrencies.

Step 2: Create an Account and Verify Your Identity

After choosing an exchange, sign up and complete the Know Your Customer (KYC) verification process. This ensures compliance with regulations and prevents fraud.

To verify your account, you typically need:
✅ A valid government-issued ID (PHILSYS ID, passport, driver’s license)
✅ A proof of address (utility bill, bank statement)
✅ A selfie for identity verification

Step 3: Deposit Funds into Your Crypto Account

Once your account is verified, you need to fund it before making a purchase. The most common payment methods include:

✔ Bank Transfers – BPI, BDO, UnionBank, etc.
✔ E-Wallets – GCash, Maya, GrabPay.
✔ Credit/Debit Cards – Visa, Mastercard (availability depends on the exchange).

Some exchanges also accept cash deposits through partner locations.

Step 4: Buy Cryptocurrency

After funding your account, navigate to the exchange’s trading section and place an order to buy your preferred cryptocurrency. You can choose:

• Market Order – Buy at the current market price.
• Limit Order – Set a price at which you want to buy, and the order executes when the price reaches that level.

Step 5: Secure Your Crypto Assets

Leaving your crypto on an exchange is risky due to potential hacking incidents. To protect your assets, store them in a secure crypto wallet:

🔒 Hardware Wallets (e.g., Ledger, Trezor) – Most secure option for long-term storage.
📱 Software Wallets (e.g., Trust Wallet, MetaMask) – Convenient for daily transactions.

By securing your crypto, you reduce the risk of losing your funds due to cyber threats.

How to Sell Cryptocurrency in the Philippines

If you want to cash out your crypto and convert it into Philippine Pesos (PHP), follow these steps:

Step 1: Transfer Crypto to an Exchange

Move your cryptocurrency from your personal wallet to a licensed exchange where you plan to sell.

Step 2: Place a Sell Order

Decide how you want to sell your crypto:
✅ Market Sell Order – Instantly sells at the current market price.
✅ Limit Sell Order – Sets a target price to sell at later.

Step 3: Withdraw Your Funds

Once sold, withdraw your PHP balance using available options such as:
✔ Bank transfers to BPI, BDO, UnionBank, etc.
✔ E-wallets like GCash, Maya.
✔ Over-the-counter cash withdrawals at partner outlets.

📌 Always check withdrawal fees and processing times to maximize your returns.

Crypto Taxation in the Philippines: What You Need to Know

In the Philippines, cryptocurrency transactions are taxable. The Bureau of Internal Revenue (BIR) requires investors to report earnings from crypto trading, mining, and staking.

To stay compliant, maintain detailed records of:
📆 Date of sale – Helps determine tax classification.
💰 Amount received (PHP equivalent) – Based on the exchange rate at the time of the transaction.
💸 Transaction fees – Deductible when calculating taxable income.

💡 Use spreadsheets or crypto tax software to track your transactions and consult a tax professional for compliance with Philippine regulations.

List of Licensed Cryptocurrency Exchanges in the Philippines

Below is a comparison of the top crypto exchanges in the country:

For the full list of Bangko Sentral ng Pilipinas (BSP)-licensed exchanges, check the official BSP website.

Cryptocurrency Regulations in the Philippines (2025 Update)

As of 2025, the Philippine government is tightening its regulatory framework:

• Securities and Exchange Commission (SEC) – Drafting rules for Crypto Asset Service Providers (CASPs) to ensure transparency.
• Bangko Sentral ng Pilipinas (BSP) – Implemented the Travel Rule to monitor cryptocurrency transactions and prevent illegal activities.

These regulations aim to protect investors, prevent fraud, and create a secure crypto ecosystem in the Philippines.

Frequently Asked Questions (FAQs)

🔹 Is cryptocurrency legal in the Philippines?
Yes, cryptocurrency is legal and regulated by BSP and SEC.

🔹 What is the safest way to store crypto?
Use hardware wallets or multi-signature wallets for maximum security.

🔹 Are crypto profits taxable in the Philippines?
Yes, crypto earnings are taxable. Keep detailed records and consult a tax expert.

🔹 Can I use cryptocurrency for daily purchases?
Crypto adoption for payments is growing but remains limited compared to traditional banking methods.

Final Thoughts

Cryptocurrency offers exciting opportunities for Filipinos, but understanding how to buy, sell, and store your assets securely is crucial. By following this guide and staying updated with regulations, you can safely navigate the crypto market in the Philippines in 2025. 🚀