Buying bitcoin is easier than it might seem at first glance. The process is similar to any online purchase: you register, select a suitable offer, and make a purchase. If you want to buy bitcoin but don’t know where to start, this simple guide will help you. In this article, we will explain how to buy and sell bitcoin through various services in the Philippines.
How to buy bitcoin in the Philippines
Before you buy bitcoin, you have to provide a secure way to store the cryptocurrency. To do this, you need to download and install a digital wallet on your PC or mobile device. You can also use online wallets: they are more convenient, but less secure.
Now that you have a wallet for storing coins, all that remains is to choose a service that allows you to purchase bitcoin easily and quickly. We present you the best services for buying bitcoin.
This is a convenient platform that provides users with a wide range of banking services using blockchain technology. Coins.ph became the first service providing cryptocurrency services licensed and regulated Bangko Sentral ng Pilipinas (BSP). The service provides users with access to banking services and financial transactions, such as money transfers, currency exchange and payment of online invoices, through a convenient smartphone app.
How to buy bitcoins in the Philippines using Coins.ph
Coins.ph allows you to buy cryptocurrency in a couple of clicks. You can also use it as a wallet for storing bitcoin. To use the service, you have to register. If you have Facebook Messenger, you can exchange cryptocurrency via a bot.
Another popular and convenient service for buying bitcoins, which works around the world: the exchanger is available in more than 188 countries. Coinmama has a high reputation and is considered one of the most reliable cryptocurrency exchange services.
Coinmama allows you to quickly buy bitcoin in the Philippines at the current exchange rate and provides high purchase limits, but the main drawback of the service is the high fee for a transaction using Bank cards, which is about 6%.
A popular exchange service among Filipinos. BuyBitcoin.ph – this is one of the easiest ways to buy bitcoin in the Philippines. The exchange is made through a familiar Coins.ph service, which indicates the reliability of the platform.
The platform has a simple and intuitive interface, which is easy for a beginner to understand, but transactions can take a lot of time, and the rates are not the most attractive.
This is one of the most popular and reliable peer-to-peer exchanges in the world, which works in almost any country. Unlike classic exchanges, you buy cryptocurrency directly from other users, and the exchange acts as an intermediary and temporary wallet.
The main advantage of buying through LocalBitcoins is that the fee is paid only by the seller, but the rate is higher compared to major exchanges. In addition, you will have to pay a fee for withdrawing BTC.
How to sell bitcoin in the Philippines
When you buy bitcoin, the most important thing is not the purchase rate, but the speed and convenience, because no matter how you buy bitcoin, you will still have to pay a fee. But when selling, it is important to choose the most favorable offer, so you should pay attention to how to sell bitcoin at the highest rate.
Changevisor is a service for monitoring reliable exchanges through which you can buy and sell bitcoin in the Philippines. You can find and filter exchanges by payment methods (payment systems, bank cards, altcoins, etc.). As a result, a list of exchanges will open, sorted by exchange rate. Changevisor is the best way to find the most profitable exchange rate for selling bitcoin. This is also the most convenient way to sell: you do not have to replenish your deposit, and you can exchange bitcoin for fiat by sending coins directly from your wallet.
If you already have bitcoins in your wallet and you want to sell them, use the link to find the best offer.
You can exchange bitcoin through the Bitbit.cash app. In addition to popular exchange methods such as e-payment systems and credit or debit cards, Bitbit.cash allows selling for cash.
Sell bitcoin to a person in the Philippines directly
If you are interested in other ways to sell bitcoin, then you can find a buyer yourself and agree on mutually beneficial terms without intermediaries.
But in this case, you are not immune from fraud, and you must be sure that the person is reliable. The transaction must be made in a public place to avoid unforeseen circumstances, especially if a large amount is exchanged.
In this article, we have figured out how to buy bitcoin quickly and at a favorable rate. The Philippines is one of the places where it is not difficult to find a suitable exchange method. In addition, there are special services for exchanging cryptocurrencies that work specifically for residents of this country.