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Buy Bitcoin (BTC) in the Philippines with PHP with Lowest Fees
Buy Bitcoin (BTC) in the Philippines with PHP with Lowest Fees
Changelly is the ultimate gateway to the world of cryptocurrencies in the Philippines! Explore over 500 different digital assets and experience seamless transactions with advanced security features. With Changelly, you can easily buy, sell and trade Bitcoin, Bitcoin Cash, Ethereum, and hundreds of other coins with Philippine pesos. Enjoy matchlessly low fees and a rock-solid reputation in the crypto space. Don't miss out on the future of money – embark on a crypto journey and become a Bitcoin investor in a matter of a few minutes!
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How to buy Bitcoin in 5 easy steps
Set your purchase pair
Select the crypto you’d like to purchase. Next, choose the local currency you want to buy crypto with and your country of residence. Compare the best offers and choose the one that suits you most.
Provide your crypto wallet address
Enter your crypto wallet address in the required field. Double-check your unique crypto wallet address to make sure it is correct.
Verify your identity
Verify your identity with the provider you've chosen to buy crypto with. This is the best way to make sure that the payment information is only yours.
Confirm your payment
Confirm your payment and have your purchased cryptocurrency delivered to your crypto wallet in several minutes.
Welcome your crypto
As soon as the payment goes through, your coins will be credited to your wallet address.
Payment methods to buy Bitcoin
A bank transfer is a secure option to buy cryptocurrency, especially if you are thinking of purchasing large amounts of virtual currency. Keep in mind that bank transfers may take a little longer, and fees may vary.
Apple Pay and Google Pay
Apple Pay and Google Pay are the quickest ways to buy BTC with a credit or a debit card from your iOS or Android device.
Credit or Debit Card
Credit or debit card payment is one of the effortless ways to buy BTC and other cryptocurrencies in a fast and secure manner. With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency.
Buy Bitcoin Without Any Hassle
Purchase your crypto with any payment method that suits you best. Start buying with as little as 30 USD or your local currency equivalent.
Why buy Bitcoin on Changelly?
We take a comprehensive security approach to ensure your crypto investments and identity are safe. We provide quick crypto purchases to more than 2.6 million users every month.
Got any questions? We've got all the answers. Changelly offers personal support to each and every user. We are here to help you 24/7 with any challenges that you might face using our services.
Get any of the 500+ supported cryptocurrencies in mere minutes with just a few clicks and at the best rates on the market.
All premium offers in one spot
We aggregate crypto offers from a variety of fiat payment providers so that you can always find the very best one.
How is the Price of Bitcoin Determined?
Bitcoin’s price can be greatly impacted by a multitude of factors, such as the balance of supply and demand, the ever-changing landscape of government regulation, the power of media influence, and the unpredictable nature of investor sentiment.
- Supply and demand. The number of buyers and sellers can heavily influence the price of Bitcoin in the market. When more people are buying Bitcoin than selling it, the price increases, and vice versa.
- Investor sentiment. The overall attitude of investors and traders towards Bitcoin can also affect its price. Positive news and developments can lead to a bullish sentiment, while negative news can lead to a bearish sentiment.
- Regulatory environment. Government regulations and policies regarding cryptocurrencies can have a significant impact on Bitcoin's price. For example, if governments ban or restrict the use of Bitcoin, it can lead to a decrease in demand and a subsequent drop in price.
- Media coverage. Media influence can have both positive and negative pressures on Bitcoin's price, as news coverage can create hype and increase demand, or spread fear and uncertainty and decrease demand.
- Technological advancements. New technological developments that enhance the functionality and security of the Bitcoin network can lead to a surge in demand and a subsequent spike in price.
- Competition from other cryptocurrencies. The emergence of new, competing cryptocurrencies can also impinge on Bitcoin's price. If a new cryptocurrency is seen as more innovative or technologically advanced than Bitcoin, it can lead to a decrease in demand and a subsequent drop in BTC price.
- Trading volume. The total number of Bitcoin units that are bought and sold within a specific period can also play its role in determining Bitcoin’s current price. Increased trading volume can indicate a higher demand for BTC assets, which can drive up the price. Conversely, decreased trading volume can indicate a sag in demand, which can lead to a fall in the asset’s price.
Can I Buy Less Than 1 Bitcoin?
You don't need to buy a full Bitcoin – it's divisible up to 8 decimal places, with the smallest unit being a satoshi (0.00000001 BTC).
However, the minimum transaction limits vary depending on the trading platform or exchange you use to buy BTC. Some companies may have a minimum purchase amount, while other exchanges may have a minimum transaction fee. For example, some exchanges may require a minimum purchase of $10 or $20 worth of Bitcoin.
It is vital to understand the minimum transaction limits, as well as deposit fees, trading fees, and other applicable charges, before buying Bitcoin to ensure you are getting the best deal possible. Keep in mind that purchasing BTC in small amounts may result in higher percentage fees compared to larger transactions.
Where to Store Your Bitcoins?
One of the essential components of owning Bitcoin is a wallet. A Bitcoin wallet is a special storage tool, either software or hardware, that allows users to store, send, and receive Bitcoin. There are different types of Bitcoin wallets, each with its own unique characteristics.
- Personal Desktop Wallets. A personal wallet is a software application that runs on a user's computer, enabling them to store their Bitcoin. These Bitcoin wallets are not recommended for users who are not tech-savvy or who do not have a secure internet connection. This is because personal wallets are vulnerable to cyber-attacks, which can result in the loss of user funds.
- Web Wallets. A web-based crypto wallet is a cloud-based vault that runs on a web server. This solution is convenient for people who want to access their Bitcoin from anywhere in the world. However, users should ensure that they have a secure internet connection when using a web wallet to prevent hacking attempts.
- Mobile Wallets. A mobile wallet is a software application that is installed on a user's mobile phone or tablet. This type of wallet is convenient for those who are always on the go. However, users should ensure that they have a secure smartphone with a passcode to prevent unauthorized access.
- Cold Wallets. A personal cold wallet is a wallet that is not connected to the internet. This type of wallet is the most secure because it is not vulnerable to cyber-attacks. Users should ensure that they keep their personal cold wallet in a safe place to prevent loss or theft.
- Steel Wallets. A steel wallet is a physical wallet that is designed to keep a user's private keys safe. Private keys are essential because they are required to access a user's Bitcoin. Steel wallets are designed to withstand extreme conditions, such as fire, water, or physical damage.
Which Bitcoin Wallet Can I Use?
It is essential to store Bitcoin safely. Choosing the best crypto wallet brands should be among your top priorities when investing in cryptocurrency. Here is an overview of the different types of crypto wallets you can incorporate to hold your Bitcoin wealth.
Ledger is the most well-known provider of hardware wallet products, having sold millions of devices since 2013. Their range includes an assortment of products, including the all-time best Bitcoin wallet products like Nano X and Nano S models, both offering high levels of security while giving users flexibility in terms of compatibility and ease of setup.
Trezor is another popular choice among Bitcoin enthusiasts thanks to its strong customer service, as well as its wide range of products designed for cryptocurrency investors looking for higher levels of protection. Their lineup includes the Model T, One, and Vault products, all with varying degrees of protection against malicious activity on online exchanges and other websites hosting crypto assets.
Exodus is a cryptocurrency wallet designed specifically for desktop computers. Its primary goal is to simplify the process of obtaining digital assets for individuals who lack a technical understanding of blockchain technology. Exodus provides an intuitive platform with responsive support staff that can help new users set up their accounts and start trading within minutes. Exodus also offers software integration with both Coinbase Pro and Bittrex exchanges, opening access to a large network of crypto markets.
Coinbase is a good option for a Bitcoin wallet if you are comfortable with the idea of a third-party holding your cryptocurrencies. Apart from being a popular Bitcoin wallet with custodial storage, Coinbase also offers a user-friendly interface for buying, selling, and trading various cryptocurrencies, such as Ethereum, Litecoin, and Bitcoin Cash. Coinbase also provides insurance for its users' cryptocurrency holdings, adding a layer of security to their platform. This wallet also supports some advanced features, including margin trading and staking. Note that using a custodial wallet means you are trusting Coinbase with the security of your funds, so you should realize the risks involved.
Got any questions about the BTC purchase on Changelly?
We tried to gather all the necessary information about the BTC purchase on this page. Yet, the crypto world can be darned confounded. If you still have questions, check out the FAQ page or contact our support team 24/7.
Keep your Bitcoin safe and sound
If you are searching for the best cryptocurrency wallets for your favorite coins, look no further! Whether you are a crypto pro or just starting out, these wallets might be a good option for crypto storage.
Integrating Changelly services into Trezor Wallet's exchange has been a great success for all parties, especially the users. Working with Changelly is a pleasure, thanks to their professional and courteous approach.
Changelly is the best option for users to access the most cost-savvy rates
With Changelly's stellar team, we have developed a unique system to ensure exchanges are fulfilled in the fastest possible time and with immediate customer support.
We are thrilled to partner with Changelly to provide an exceptional trading experience: anytime, anywhere - in a few simple taps!
What Is Bitcoin?
Bitcoin is a decentralized digital currency that can be sent between users on the peer-to-peer Bitcoin network without any intermediary. It has no central bank or single administrator. Network nodes use cryptography to verify transactions, which are then stored in a public distributed ledger called a blockchain. In 2008, an unknown person or group of persons using the name Satoshi Nakamoto created this cryptocurrency, the first of its kind.
Bitcoin have no a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.
Is it Legal to Buy Bitcoin in the Philippines?
Bitcoin (BTC) is a digital currency that operates on a peer-to-peer network and enables people to securely exchange value without any intermediaries. Satoshi Nakamoto, an anonymous software engineer, introduced blockchain technology in 2009, and it was designed to record all Bitcoin transactions, preventing double spending and fraud activities.
Bitcoin coins reside within the Blockchain network (distributed ledger), but secret passwords to access these funds must be kept in a secure Bitcoin wallet, so users can have full control over their virtual assets.
Bitcoin is a revolutionary technology that disrupts the legacy financial system by operating as a decentralized currency that is free from the grip of governments and financial institutions. It empowers individuals by enabling peer-to-peer transactions, without the need for middlemen, and offers a foolproof verification system through its innovative blockchain technology. The limited supply of Bitcoin, coupled with its surging demand, adds to its allure as a sought-after store of value and versatile medium of exchange.
Lots of users in the Philippines are interested in purchasing Bitcoin, and for a good reason. For instance, BTC allows you to easily make international payments with a little to no commission, and it also may help to protect against inflation. Others would like to take advantage of the growing number of merchants accepting Bitcoin. Some people invest in Bitcoin, hoping to make fortunes by selling the asset in the future.
Before you join the vibrant community of Bitcoin buyers, it would not go amiss to understand the legal status of Bitcoin and other cryptocurrencies in general in the Philippines.
Digital currencies and operations with them are legal in the country. The Philippine government regulates Bitcoin trading through the Bangko Sentral ng Pilipinas (BSP) that has certain requirements for locally registered exchange platforms. For example, the cryptocurrency exchanges must comply with anti-money laundering and counter-terrorism financing policies to ensure Bitcoin legal transactions.
The Bangko Sentral ng Pilipinas also requires digital currency exchanges to maintain adequate safeguards to protect user funds and to establish robust cybersecurity measures. Also, the Securities and Exchange Commission (SEC) of the Philippines has guidelines for initial coin offerings (ICOs) and warns the public about the risks associated with investing in cryptocurrency because of the inherent price volatility of Bitcoin and other cryptocurrencies.
The BSP recognizes the potential of virtual currencies, but since they are not issued or backed by a central bank, Bitcoin and other cryptos are not considered a legal tender in the Philippines. As a result, crypto coins and tokens are not accepted or treated as a national currency or medium of exchange in the region, but it is still pretty legal to buy, trade, and sell cryptocurrencies as an investment or commodity. This means, you can safely buy Bitcoins in Philippines!
Best Ways to Buy Bitcoin in the Philippines Safely
With so many benefits offered by cryptocurrencies, many people in the Philippines are looking for ways to safely buy Bitcoin, and reputable cryptocurrency exchange platforms are the best option available.
Secure Transactions. Cryptocurrency exchange platforms employ cutting-edge encryption techniques to safeguard your transactions, ensuring that your funds remain impervious to cyber threats. These platforms operate under stringent guidelines that comply with local laws and regulations, enabling secure trades.
Affordability. Many exchanges impose minimal trading fees for operations on their platforms, thus allowing users to save more money than when buying on other platforms with higher fees. This makes it easier for those on a tighter budget to invest in Bitcoin without having to worry about expensive transaction costs eating into their profits.
Multiple Payment Options. Most exchanges offer a slew of convenient payment options, such as bank transfers, credit/debit cards, or cashless mobile phone payments to pay for their supported cryptocurrencies. This enables users to quickly purchase Bitcoin, irrespective of their previous crypto buying experience.
Customer Support. The eagerness to resolve customers’ issues is essential when using crypto exchange services. The best crypto exchange companies always provide 24/7 assistance to answer queries and help solve any problems you may experience while trading or investing in cryptocurrencies. This helps traders make informed decisions without worrying, whether they will be able to get help if something goes wrong during trading operations.
Reliable Platforms. Reputable cryptocurrency exchanges like Changelly are regulated by the government of the Philippines, so you can trust them with your investments knowing that they will observe all necessary laws and regulations, thereby, helping you keep your funds at all times. They also have robust security protocols which help protect your account against unwanted access or theft of funds.
How to Buy Bitcoin with Credit and Debit Card
For those situated in the Philippines, dabbling in Bitcoin may pique their interest. But how to buy Bitcoin in the Philippines through their credit or debit card? With minimal effort, it is now simpler than ever to incorporate your Philippine pesos and begin investing in the thrilling world of cryptocurrency.
Find an Exchange That Offers Bitcoin and Philippine Peso Trading Pair
The first step to purchasing Bitcoin in the Philippines with a credit or debit card is to identify an exchange that supports the PHP/BTC trading pair. Changelly, a locally registered exchange, accepts credit and debit payments from Bitcoin buyers located in the Philippines. This helps our customers to avoid foreign exchange fees and allows them to trade cryptocurrencies with a fast and secure conversion process.
Create an Account and Undergo Identity Verification
Once you have chosen an exchange registered in the Philippines that accepts credit/debit payments, create an account by following the prompts on the website or mobile app (depending on your preferred method of trading). Some exchanges might require the provision of additional documents, such as a national identity card or bank account statement, before you can deposit funds. You can usually complete identity proof within minutes if you have valid IDs and provide accurate information during the verification process.
Link Your Credit or Debit Card
After creating your account and completing identity verification, log in to your exchange account and navigate to the "Payment Methods" or "Deposit" section. Here, you want to select "Credit/Debit Card" as your preferred payment method. Enter your card details, including the card number, expiration date, and security code to prove your ownership of this card.
Once your payment source has been verified, go ahead and enter the amount of Bitcoin you wish to purchase. Bitcoin’s current market price is usually displayed in USD or a local fiat currency, such as Philippine pesos, on top of most exchanges’ trade engines. Click “Buy” when ready – congratulations! You have successfully bought Bitcoins with a credit or debit card in the Philippine market!
How to Buy Bitcoin with Bank Transfer in the Philippines
In the Philippines, wire transfers emerge as the top pick for crypto enthusiasts to purchase digital assets with fiat currencies. With their unparalleled security, bank transfers provide a trustworthy channel to transfer funds between bank accounts. Besides, they beat other payment methods in terms of speed and affordability, making them a go-to option for crypto transactions.
Here are the typical steps to buy crypto, such as BTC, with a wire transfer in the Philippines:
Choose a reputable platform that makes it possible to deposit PHP via a bank transfer. Some prominent companies include Binance and Coinbase.
Register with the chosen exchange and pass the verification protocol, which may require you to submit personal identification documents.
Link your bank account to the exchange by providing your bank account credentials, including the account number and routing number.
Initiate the bank transfer by using your online banking platform or by visiting your bank branch. Make sure to include the exchange's bank account information and the reference code provided by the exchange when making the transfer.
Wait for the funds to be credited to your crypto trading account. This process may take a few hours to a few business days, depending on your bank's processing time.
Once the funds are credited, you can use them to buy crypto on the selected exchange. Simply navigate to the “Buy/Sell” page, specify the amount of Bitcoin you wish to purchase, and confirm the transaction.
Send Bitcoin to a secure personal wallet that you control, such as a hardware wallet or a software wallet that can effectively secure your private keys.
Always conduct thorough research before investing in Bitcoin or trading cryptocurrency, as well as limit your investments to amounts that you can safely handle losing. Employ appropriate security measures, like creating robust passwords and enabling two-factor authentication, to safeguard your virtual currency portfolio.
How to Buy Bitcoin with Apple Pay in the Philippines
Although Apple Pay has established partnerships with multiple banks and card issuers throughout the Asia-Pacific region, unfortunately, the service has not yet reached the shores of the Philippines.
Despite the country's growing economy and modernizing infrastructure, Apple Pay has yet to make its debut in the country. Nevertheless, Filipinos remain hopeful that the day will come when they'll be able to take advantage of the convenience and security of Apple Pay, with the anticipation of impending opportunities for more efficient financial transactions.
Although the legendary iOS app may not come handy to buy Bitcoin in the Philippines, there are many alternatives to this contactless payment system which you can safely embrace for your Bitcoin purchases. These include credit/debit cards, wire transfers, as well as a number of e-wallets like PayPal, Alipay, and Payoneer, which can streamline the process of buying Bitcoin.
Curiously, Google Pay is not available in the Philippines either. Although there is no official statement from Google why they have not extended the presence of their e-wallet to the region, it may be due to the regulatory and legal complexities in the country, as well as competition from existing payment systems.
How to Buy Bitcoin from ATM in the Philippines
Bitcoin ATMs are becoming increasingly widespread, proving that cryptocurrency knows no boundaries. Unlike in the United Kingdom or Canada, there are not so many crypto ATMs in the Philippines. You can find several dozen machines located primarily in large urban areas, including Manila, Cebu, and Davao. These Bitcoin ATMs allow users to buy and sell various cryptocurrencies using cash or debit/credit cards.
The greatness of crypto ATMs is that they provide a convenient way for people to buy and sell Bitcoin and other cryptocurrency assets in an intuitive way with local money, making it easier for inexperienced individuals to enter the cryptocurrency market. They also promote the adoption of Bitcoin as a legitimate currency and increase access to financial services for those without traditional bank accounts.
To buy cryptocurrency from an ATM, follow these simple steps:
Find a Bitcoin ATM near you using online directories or maps.
Visit the ATM and press the "Buy Bitcoin" button on the screen.
Enter the desired amount of crypto and insert cash into the machine.
Confirm the transaction details and provide a valid Bitcoin wallet address.
Wait for the BTC coins to be transferred to your wallet, which usually takes a few minutes, depending on the Bitcoin network congestion.
Remember to read the instructions on the ATM screen carefully and double-check all the details before finalizing a deal. Note that some crypto ATMs may ask for user verification, such as ID and phone number checks, especially for purchases above certain transaction limits. These requirements are usually in place to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations.
How to Buy Bitcoin with PayPal
Unfortunately, it is not currently possible to buy Bitcoins directly with PayPal in the Philippines. However, you can resort to cryptocurrency P2P platforms that allow you to conduct trades with peers using PayPal. There are also some crypto brokers on the internet where Filipino traders can involve their PayPal funds for Bitcoin trading.
Most exchanges are reluctant to support PayPal because of several reasons, such as concerns over fraud and chargebacks, high fees charged by PayPal, and the fact that PayPal has historically been hesitant to work with cryptocurrency-related businesses. Also, cryptocurrency transactions are irreversible, which may conflict with PayPal's buyer protection policy.
How to Buy Bitcoin With Prepaid Card
In the Philippines, prepaid cards have become a popular means to acquire crypto assets thanks to the convenience they offer. People find it appealing to be able to purchase cryptocurrency without having a bank account or credit card.
These cards can be bought with cash, which provides a sense of security to individuals who prefer not to use traditional payment modes.
Another advantage of prepaid cards is that they usually have lower fees and faster processing times compared to traditional payment methods, making them an attractive option for people looking to purchase Bitcoin in the Philippines quickly and easily.
In the Philippines, it is easy to make your Bitcoin dreams take shape if you are equipped with a prepaid card.
Just find a reputable cryptocurrency exchange that supports a prepaid card option.
Sign up and verify your identity, without giving any false information.
Load your prepaid card with cash, and select Bitcoin as your coveted crypto asset.
Check the exchange rate, and confirm the transaction if everything looks great.
Voila! You have entered the world of crypto with a prepaid card in hand. Now, watch your investment grow, and keep your finger on the pulse of cryptocurrency trends, news, and opportunities.
How to Buy Bitcoin with Cash in the Philippines?
As the Philippines is one of those countries that has become Bitcoin-friendly, you can find plenty of ways to buy Bitcoin with cash here.
Buy Bitcoin from Local Sellers
One of the most convenient ways to use cash to buy Bitcoin in the Philippines is by using a local seller. You can find these people on popular peer-to-peer (P2P) marketplaces like Paxful or Remitano. These marketplaces function as intermediaries, connecting Bitcoin buyers and sellers and providing a secure environment for transactions. Local sellers may also offer different payment methods, including bank transfers, online wallets, and even gift cards.
Use Bitcoin ATMs
Another way to incorporate cash and buy Bitcoin in the Philippines is with a Bitcoin ATM. These machines allow users to quickly and easily purchase Bitcoins without having to use an online exchange. The majority of Bitcoin ATMs are scattered around big Filipino cities, such as Manila and Quezon City. Most machines charge a commission fee on top of already high prices, so it is always worth doing some research before selecting your particular machine.
Exchange Your Cash into Gift Cards
Another less common but effective way to buy Bitcoin in the Philippines with cash is through prepaid gift cards such as GCash or PayMaya vouchers. These gift cards can then be used at certain exchanges, such as Coinmama or Coinbucket, where you can purchase any amount of coins up to maximum limits set by each platform, respectively. This method is advantageous because there is much less identification needed than when purchasing directly from a local cryptocurrency exchange like Coinbase Pro.
Can Foreigners Buy Bitcoin in the Philippines?
If you are a foreigner living in the Philippines and want to buy cryptocurrency like Bitcoin, you can do so legally. However, you will need to show additional documents to prove that you are legally residing in the country, as the government requires a valid ID for using digital asset exchange platforms. This can include an Alien Certificate of Registration card or a valid passport issued by your home country, in addition to the usual Philippine Passport or Voter's ID used by citizens.
Who Accepts Bitcoin in the Philippines?
Thanks to the positive stance of the Philippine government towards cryptocurrencies, Bitcoin is widely accepted in the country, with lots of businesses and service providers taking BTC as a valid form of payment. Here are a couple of local establishments where you can spend Bitcoin on some joys.
SM Cinema, one of the largest cinema chains in the country, started accepting Bitcoin in 2017, enabling customers to purchase movie tickets online using crypto coins.
Ceza Gaming, an online gaming company based in the Cagayan Economic Zone Authority, also accepts Bitcoin for its services.
Nipa Brew Craft Beers, a company that produces artisanal beers, has implemented a payment system that enables its customers to purchase their unique brews utilizing cryptocurrencies.
Other notable businesses that accept Bitcoin in the Philippines include hotels like The Henry Hotel and Tune Hotels, as well as restaurants like The Red Crab Group and House of Wagyu.
The growing acceptance of Bitcoin among businesses in the Philippines reflects the increasing interest in digital currencies as a decent alternative to traditional payment methods.
How to Cash Out Bitcoin in the Philippines?
As Bitcoin gains wider recognition, cashing it out has become a growing trend in the Philippines. With numerous cash-out options now available, Bitcoin owners can now enjoy faster and easier transactions. Check out this brief guide to learn how to sell crypto for cash in the Philippines.
Sell Bitcoin through an Exchange
The most common way to sell Bitcoin for real money is through a digital asset exchange. You can sell BTC with the leading cryptocurrency trading platforms, including Changelly. To benefit from this opportunity, you will need to undergo verification before you can sell Bitcoin or other digital assets for fiat.
Once you have gone through all the checkups, all you need to do is transfer your BTC from your wallet address to the exchange’s platform and launch a withdrawal or sale transaction. After submitting the trade order and waiting for it to be filled, your Bitcoin funds will be converted into the indicated fiat currency, such as Philippine pesos, and deposited into your bank account or e-wallet, depending on the functionality supported by the platform used.
Use ATMs That Support Crypto Cashouts
Another alternative aimed at users who prefer dealing with physical money is using Bitcoin ATMs or BTMs (Bitcoin Teller Machines). You can find these machines located throughout key cities in the Philippines, and their function is very similar to traditional ATMs. But, instead of exchanging between denominations of currencies, they allow customers to buy or sell cryptocurrencies, giving out local currency in return for crypto deposits made on their Bitcoin wallets.
The fees applied here may also differ from one BTM operator to another, but typically range somewhere between 2% to 8%, so you can buy crypto pretty profitably from these kiosks.
Cash Out By Using P2P Exchanges
A P2P exchange is a platform where individuals can directly buy and sell digital assets without involving centralized intermediaries. Transactions take place between buyers and sellers using predetermined payment methods and preferred currencies. P2P crypto services generally do not charge any additional fees for matching counterparties and facilitating Bitcoin exchange deals.
Whichever path you follow to cash out Bitcoin in Philippines, be aware of possible withdrawal fees that may vary depending on the platform itself, your chosen withdrawal method, the verification status of your account, and the sum to be withdrawn.
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