How To Invest In Crypto Philippines 2024

Investing in cryptocurrency in the Philippines is a hot topic.

Filipino investors need to balance capital and risk with the highly volatile market, but is cryptocurrency a good investment in the Philippines, and how to invest in cryptocurrency in the Philippines?

Today’s guide will cover some of the most popular questions about cryptocurrency, including the tax on cryptocurrency Philippines, what is the best Bitcoin wallet in the Philippines, how to invest in Bitcoin in the Philippines, and many other common questions, BTC to PHP.

Even though Bitcoin has been one of the most significant profitable assets over the last ten years, Bitcoin and cryptocurrency, in general, remain an extremely high-risk investment.

So, it is always recommended to speak to an independent financial advisor before investing in cryptocurrency or any investment in the Philippines.

Table of Contents

How To Start Cryptocurrency Philippines

One of the most common questions asked on search engines is how to start cryptocurrency Philippines.

The trading process is relatively simple, and here is the 4 step process to follow when looking at how to start cryptocurrency in the Philippines…

Sign up for a cryptocurrency exchange (Coins.PH, Binance, Coinbase, etc.)
Submit your details for verification
Create your cryptocurrency wallet if a wallet has not been automatically created

Submit your funds into your account/deposit funds into your new cryptocurrency wallet

If you are a beginner and are looking at how to start cryptocurrency in the Philippines, you will need to sign up with a cryptocurrency exchange.

There are many local and international exchanges available.

Once you have signed up with a cryptocurrency exchange, submitted your details, and funded your account, then you will be able to buy and sell cryptocurrency in the Philippines.

Don’t worry about choosing a cryptocurrency exchange just yet, as we will be speaking about this process below when we look into what is the best Bitcoin wallet in the Philippines coming.

But at this stage, understanding the function of a basic exchange is critical. All exchanges operate slightly differently but follow the basic procedures.

In addition, when looking at how to invest in cryptocurrency Philippines the cryptocurrency you wish to buy may impact the currency exchange.

For instance, coins.PH is a legitimate and well-known website for cryptocurrency customers in the Philippines, but it has limited features and only allows you to purchase popular cryptocurrencies.

So, in other words, if you are looking to purchase brand new cryptocurrencies in the Philippines, then you will need to sign up to other exchanges…

However, if you are looking to buy Bitcoin in the Philippines only, then a simple exchange such as Coins.PH will be relevant.

What Is The Best Bitcoin Wallet In the Philippines

If you are a beginner in cryptocurrency, a Bitcoin wallet is a digital wallet used to send or receive electronic currency A.K.A cryptocurrency.

This can either be in the form of a physical device (known as a hard wallet), a program, or an exchange.

However, the majority of cryptocurrency traders use a wallet that is provided by the cryptocurrency exchange service.

Therefore, when looking at the best Bitcoin wallet in the Philippines, our attention focuses on different cryptocurrency exchanges.

There are several options to choose from when you are looking to invest in Bitcoin in the Philippines. Here is a quick summary.

Coins.PH
CoinBase

Biance
Etoro
Bitpanda

Paybis
Kraken

The list above includes the most popular and most trusted exchanges worldwide.

If I included all cryptocurrency exchanges, we would have a list full of thousands of different cryptocurrencies.

Unfortunately, there have been many Bitcoin scams in the Philippines over the years, and thus it’s always recommended to use a trusted and professional exchange service.

The best Bitcoin wallet to buy Bitcoin in the Philippines for most investors is Coins.PH.

This is because of Coins.PH is a local, trusted, and professional service where you can purchase cryptocurrency effortlessly.

In addition, you also have the option to send funds to other apps and exchanges such as Gcash, Binance, Coinsbase, and so on.

how to invest in cryptocurrency philippines for beginners — **Feel Free To Use This Infographic For Your Own Use! Please Credit & Link To This Page. Thank You.**

Therefore if you are looking to buy Bitcoin in the Philippines, then the most simplistic and best wallet is the cryptocurrency wallet provided by Coins.PH.

But as your knowledge grows, you may wish to invest in other cryptocurrencies, and therefore other exchanges may be more suitable for those who are confident in Bitcoin investing.

We have recently spoken about cryptocurrency liquidity and how you can earn money from storing your Bitcoin! I’ve attached the entire article above for your reference.

How To Start Investing In Bitcoin Philippines

So now we have covered some basics; the next question is, how can you start investing in Bitcoin in the Philippines?

To start investing in Bitcoin in the Philippines, an investor will need a Bitcoin wallet obtained from a Bitcoin exchange.

Once the investor has a wallet, they will then use an exchange to send and receive funds from their Bitcoin wallet.

As mentioned above, there are several cryptocurrency exchanges to choose from.

Of course, you do not need to go directly with an exchange to purchase cryptocurrency, but it is the easiest and most common method once you start investing in Bitcoin in the Philippines.

Once you have your wallet address, you will need to fund your account to buy Bitcoin in the Philippines.

For example, if you choose coins.PH (an automatic wallet will be created once you become a customer) you’ll be able to add funds (Coins.PH calls this “cash in”) to your account from 711, TouchPay Union Bank, and many other retailers.

Once the funds have been confirmed, you will then use these funds in your Bitcoin wallet to purchase Bitcoin.

Once your Bitcoin has been confirmed, you will see that your total investment will fluctuate, increasing and decreasing throughout the day.

If you are looking at how to start investing in Bitcoin Philippines, the method above is very similar on most platforms.

In addition, most Bitcoin and cryptocurrency exchanges have streamlined the process. As a result, cryptocurrency investing is becoming more straightforward for the public.

Tax On Cryptocurrency Philippines

Cryptocurrency tax is an interesting matter as there have been some developments over the years, but unlike other countries, the Philippines has not made cryptocurrency investing challenging.

To answer this question, I sent emails to the Bureau of Internal Revenue and other relevant departments, visited Philippines-based cryptocurrency exchanges, and even spoke to the online community but found very little information regarding cryptocurrency tax in the Philippines.

In theory, all income in the Philippines is taxable, including cryptocurrency; therefore, all profits fall under capital gains tax which currently stands at 15%.

Thus as an investor, if you made any capital gains from your asset, you will need to declare this and pay any capital gains tax.

But at this current time, cryptocurrency is somewhat unregulated in the Philippines.

Cryptocurrency Trading Philippines Explained

A follow-up question after how to start cryptocurrency in the Philippines is the question of trading and what is cryptocurrency trading in the Philippines?

Cryptocurrency trading is no different from any other tradeable asset…

However, as it’s a form of digital currency, cryptocurrency trading in the Philippines is traded effortlessly online, often through cryptocurrency exchanges.

There are different types of traders and also many different types of cryptocurrency trading strategies.

Still, in most situations, when an investor is looking to trade cryptocurrency in the Philippines, they aim for a small percentage per transaction.

Some traders also aim to reach a financial target per coin; for example, they may wish to sell that cryptocurrency once the coin has gone up an extra 1 peso.

One peso per coin may not seem significant, but if you have 100,000 coins, that is potentially 100,000 peso profit, but this is only for example purposes.

When we looked at how to start cryptocurrency in the Philippines, we dived into the subject of cryptocurrency exchanges as this is the most convenient option for beginners who are looking to buy Bitcoin in the Philippines.

Still, if you are cryptocurrency trading in the Philippines, you have several options.

One of these options is purchasing cryptocurrency directly from other traders.

Legit Bitcoin Investment Sites In The Philippines

Below is the list of legitimate Bitcoin investment sites in the Philippines.

Please note that not all of these sites are Philippines-based but can purchase Bitcoin legitimately if in the Philippines.

Biance
Bitpanda

CoinBase
Coins.PH
Etoro

Kraken
Paybis

Several exchanges are operating in the Philippines, but some have a mixture of reviews, and there have been several reports of potential scams. Thus the most recommended site that is Philippines based is that of Coins.PH.

How To Invest In Bitcoin Philippines

So to summarise today’s article here is what you need to do if you are looking at how to invest in Bitcoin in the Philippines (or any other cryptocurrency).

The first stage to invest in Bitcoin in the Philippines is to obtain a Bitcoin wallet which is often achieved when signing up to a cryptocurrency exchange such as Coins.PH, Coinsbase, Etc.

The second stage, once your account has been opened and confirmed, is to fund your account. Once funds have been added to your wallet, you will then be able to invest in Bitcoin in the Philippines.

The method above is the process but broken down and made simple. In reality, there may be a few additional steps that you will need to do to invest in Bitcoin in the Philippines successfully.

For example, if you are looking to trade large amounts of capital, you may need to provide your proof of address, such as a utility bill. Nonetheless, the process of investing in Bitcoin is relatively simple.

How To Invest In Cryptocurrency Philippines

Once you have your funds available and ready to purchase Bitcoin, there is often the latest price.

This is the price of a cryptocurrency at the time.

Depending on the exchange you are using, this may include the exchange phase, or these may be added at the end before you confirm your transaction.

All exchanges charge a commission, and this tends to be a few percent per transaction.

Should I Invest In Cryptocurrency In The Philippines

The general rule for investing in the Philippines is never to invest money that you cannot afford to lose.

This is typically what financial gurus and mainstream banks mention, and this is sound advice.

Trading cryptocurrency in the Philippines is a relatively fresh investment strategy, and there is a lot to learn in this ever-growing industry.

Therefore, if you are considering investing in cryptocurrency in the Philippines, learn about the network and how it operates as much as possible.

Previously we have spoken about how you can earn money from storing cryptocurrency and covered a few other cryptocurrency articles, so I have attached some of this information for your reference.

Best Time To Buy Cryptocurrency In The Philippines

One question often asked is when is the best time to buy cryptocurrency in the Philippines.

One thing to remember about cryptocurrency is that it is a tradeable asset globally. In other words, the price of cryptocurrency fluctuates 24 hours a day.

Nevertheless, some countries trade cryptocurrency more than others.

For example, according to the latest statistics from ChainAlysis, North America has the largest cryptocurrency value received compared to other countries worldwide.

So, in theory, investors can expect the price to fluctuate more in the day, afternoon, and evening than the nighttime based on the North American timezones.

Several large cryptocurrency networks and authorities have concluded that the best time to buy cryptocurrency is between 2 – 4 pm North American time which is 3 am – 5 am in the Philippines.

Their time suggestion is based on the data that suggest that cryptocurrency and Bitcoin tend to dip in the early afternoon.

Therefore very early morning in the Philippines is considered the best time to buy cryptocurrencies as the price will be lower.

However, it’s important to remember that cryptocurrency is an extremely popular asset traded globally.

Government changes, industry shifts, and breaking news can impact cryptocurrency’s price.

On the other side of the coin, some expert traders advise that it is impossible to predict the best price to invest in cryptocurrency or Bitcoin in the Philippines

Should I Buy Bitcoin When it is Low Or High Philippines

For the biggest financial gain, Filipino investors are recommended to buy bitcoin when it is low and sell when the prices are high. Buying bitcoin in the Philippines during its peak/all-time high price is considered risky by traders & investors.