How to Buy Crypto in Philippines

In the Philippines, interest in cryptocurrency has been growing year after year. Many people use it not only as an investment but also as a practical tool for sending money to family abroad — an important need since millions of Filipinos work overseas. What’s more, crypto is steadily becoming part of everyday life: from paying for products and services to earning money through play-to-earn games.

In this article, we’ll guide you through how to buy cryptocurrency in the Philippines step by step. We’ll go over the most convenient platforms, share the main options available, and point out what you should keep in mind to make your purchase safe and beneficial.

Is It Legal to Buy Cryptocurrencies in Philippines?

Yes, you can legally buy cryptocurrency in the Philippines. The Bangko Sentral ng Pilipinas (BSP) — the Central Bank of the Philippines, regulates exchanges and payment providers so they meet proper standards. This means companies must obtain a license and follow strict rules on security and Anti–Money Laundering(AML). For you as a user, that provides an extra layer of protection — if you choose a licensed platform, the risks are much lower.

So, you’re free to buy it, hold it, and use it for transfers. In fact, the government recognizes the growing demand — especially because so many Filipinos send and receive money from abroad — and is working to make the market transparent and safe.

Ways to Buy Crypto in Philippines

Once you have familiarized yourself with the legislation details, you can choose the most suitable option for buying crypto. There are many convenient ways, so let's take a closer look at each way from different angles.

CEXs (Centralized Exchanges)

A centralized exchange is the most common and straightforward way to buy cryptocurrency. Think of it as an online platform that connects buyers and sellers while taking care of all the technical details for you. A CEX lets you open an account, deposit fiat money — say, through a bank card or e-wallet — and purchase from a wide range of cryptocurrencies.

Centralized exchanges are popular for a reason: they give access to a huge range of cryptocurrencies, provide solid security, and make transactions quick. They’re also built to be simple to use, so even beginners can get the hang of them fast. Take the Cryptomus exchange, for example — it supports >120 cryptocurrencies, lets you deposit in more than 40 fiat currencies, and has a clear, easy-to-navigate interface.

• Pros: wide range of crypto, strong security.

• Cons: mandatory identity verification (KYC).

P2P Platforms

A P2P (peer-to-peer) platform lets you buy and sell crypto directly with another person. The platform acts as a guarantor. When you start a deal, the crypto is locked in escrow, and it’s only released once the payment is confirmed. This makes the process secure for both sides.

The big plus of P2P trading is flexibility. You can choose from hundreds of payment methods — bank transfer, GCash, Maya — and usually get better rates compared to other options. For example, the Cryptomus P2P exchange charges very low fees starting at just 0.1% and supports more than 560 payment methods.

• Pros: competitive exchange rates, plenty of payment methods, low fees.

• Cons: it may take time to find and agree with a suitable buyer or seller, KYC verification is required.

Crypto ATMs

Crypto ATMs — also known as Bitcoin ATMs — make buying crypto super easy, as they work much like the regular bank ATMs people use every day. Just choose the coin you want, scan your wallet address, and insert your cash or card — your coins arrive in your crypto wallet almost instantly. In the Philippines, these machines are mostly in big cities like Manila and Davao.

They’re great if you need a quick buy without creating an exchange account, but the downside is higher fees. So, they’re better for small or one-time transactions.

• Pros: quick and easy, supports cash payments.

• Cons: high fees, limited to larger cities.

Step-by-Step Guide: How to Buy Crypto in Philippines

Buying crypto in the Philippines doesn’t have to be difficult. One of the easiest ways is through an exchange — here’s a simple path to follow:

1. Sign up on a trusted platform.
2. Complete KYC to verify your identity.
3. Deposit pesos and buy your first coins.

In the next section, we’ll walk through the details so you can find the approach that suits your needs.

1. Register on the Platform

Pick a reliable exchange, sign up — it only takes a few minutes — and make sure to protect your account with a strong password and 2FA. If you’re in the Philippines, look for platforms licensed by the BSP or at least compliant with AML/KYC rules. That way, your money stays safe and everything is above board.

2. Pass KYC Verification

After signing up, you’ll need to go through KYC verification to unlock deposits and withdrawals. The process is simple: take a selfie, upload a photo of your valid ID, and send both to the platform. Within a short time, you’ll get confirmation and full access to platform products.

3. Choose the Most Convenient Way to Buy Cryptocurrency

Once your account is set up and verified, the next step is to decide how exactly you want to purchase crypto.

• CEX (Centralized Exchange). Once your account is verified, you can fund it with Philippine pesos. Many exchanges accept bank transfers, GCash, or Maya. When the money is credited, go to the “Buy crypto" section, select the coin you want to purchase, enter the amount, and confirm the transaction with your 2FA code.

• P2P Platform. On the P2P section of the exchange, set filters: the amount of crypto you need, the fiat currency (PHP), and your preferred payment method (GCash, Maya, or bank transfer). You’ll then see a list of offers from sellers. Pick the one that suits you best and follow the instructions. Always check if the seller is verified to reduce risks. If you don’t see a good option, you can post your own buy offer and wait for responses.

Simple Way to Buy Crypto with Your Credit Card

If you are looking for the easiest way to buy cryptocurrency in Phillippines, use your bank card. The process is as follows (using Cryptomus as an example):

Step 1 — Sign Up on Cryptomus

Opening an account only takes a couple of minutes. You can register with your email or even log in through Google, Facebook, or Telegram. Once you’re in, don’t forget to turn on two-factor authentication (2FA) — it’s a quick step that keeps your money much safer.

Step 2 — Verify Your Identity (KYC)

To start buying and selling crypto, you’ll need to pass identity verification. Just go to the “Settings” section, click on KYC verification, upload a photo of your passport or a valid Philippine ID, and take a quick selfie. As soon as your documents are approved, you’ll get full access to all the platform’s features.

Step 3 — Choose “Receive” in Your Dashboard

On the main dashboard, click “Receive”, pick the cryptocurrency you want (for example, BTC or USDT), and select the right network. If you plan to pay with pesos through a card, make sure to choose the “Fiat” option.

Step 4 — Pay via Mercuryo

Select “Receive via Mercuryo” and type in the amount you want to pay in Philippine pesos (PHP). The system will instantly show how much cryptocurrency you’ll receive in your wallet.

Step 5 — Confirm the Payment

Use your debit or credit card from a local bank such as GCash. Enter your email, confirm the security code sent to you, and complete the transaction.

That’s all — your purchase is done. In just a short while, the cryptocurrency will appear in your Cryptomus wallet, ready for you to use.

Do You Have to Pay Taxes on Cryptocurrency Investments?

In the Philippines, taxes on crypto depend on how you earn from it. Profits from selling or exchanging coins are subject to a capital gains tax of up to 15%. Income from mining, staking, or getting paid in crypto is taxed as regular income, using the progressive income tax system — starting at 0% for annual income up to 250,000 PHP and reaching 35% for earnings above 8 million PHP.

Before trading, we recommend that you carefully study the tax rate and amount, as the data may change.

So, buying crypto in the Philippines is straightforward if you follow the rules and use trusted platforms like Cryptomus.

Trade and store responsibly — and if you need help, reach out by email or Telegram anytime!