Cryptocurrencies are now highly in demand in various countries and are now getting worldwide attention and high online traction. However, among all cryptos out there, Bitcoin is the most common and highly known digital currency in the market. Hence, a lot of investors are buying these for long term holding or as a medium for trading in various digital currency exchanges.
So, the question is, where do you buy Bitcoins in the Philippines?
There are too many sites in the Philippines where you can buy Bitcoins such as Coinmama, LocalBitcoins, BuyBitcoins, etc. However, all of these sites have its own pros and cons, hence, it would be better to study first and research for reviews before buying one in order to protect your money.
But for me, I highly recommend registering and buying Bitcoins in Coins.ph. They offer high security support of your wallets and you can easily convert your cash to Bitcoins in a matter of seconds.
Here, you can easily deposit money from various sources to your Peso wallet and there a lot of options to choose from:
However, one should take note that there are fees when you cash in your pesos in your wallet. For example, if you plan to transfer cash via 7Eleven, you will be charged 50 pesos for every Php2,500 cash in. Other methods have different fees, so check that out.
If you plan to immediately use your cash to buy Bitcoins, you can directly cash in via 7Eleven or Gcash wherein the transfer of cash is real time. For other methods such as online bank transfers, it usually takes 24 hours before the funds to reflect in your peso wallet.
Once you have the available funds, you can now directly buy Bitcoins in an instant using the convert feature below:
However, one should also take note that the prices here are not that very competent as compared to the exchanges outside of the Philippines. Coins.ph charges an extra once you buy bitcoins and deducts a certain percentage one you sell, same with what banks do when you exchange foreign currencies. Also, this is same with other sites in the Philippines which buy and sells Bitcoins.
If you already have your Bitcoins, you can now send them to the digital currency exchange of your choosing (such as Poloniex and Bittrex) if you plan to trade Bitcoins or buy other digital currencies aside from Bitcoin.
Coins.ph also has easy ways to withdraw your money to any method you want such as the following:
Also, aside from Bitcoin trading, Coins.ph offers various services such as paying of Bills, prepaid loads, etc. which often avoids the queue time when paying directly at the merchants.
As a disclaimer, I don't work nor advertise Coins.ph. It's just the method I use when I want to buy Bitcoins and it's only my opinion based on my experience. You can also try other ways if you like and share them here so that our readers can know our own personal reviews. Thanks.
Feel free to drop your comments and opinions below, they are highly appreciated and welcomed.