How to Buy Bitcoin [BTC] using fiat currency in Philippines

Many of us today are very intelligent and dreaming to retire at early age, specially those who've are already know and doing how to save and invest for the future needs. And I guess that they're also know about the cryptocurrencies. Bitcoin is the first cryptocurrency and also known as the first decentralized crypto currency.

What is Bitcoin?

Bitcoin is a digital currency that can be sent from user to user on the decentralized bitcoin network. A person owning a Bitcoin can do a peer-to-peer money transfer without need of third party like banks or payment providers.

Bitcoin was created and developed by an unknown person or people and used the name Satoshi Nakamoto. It was released as open-source software in year 2009. Through electronic mining (solving mathematical equation), Bitcoin appeared as a reward for every successful mining. 

For over ten years of existence on the bitcoin blockchain. Bitcoin become more popular to all because of the unexpected price high in the crypto market. Cryptocurrency investors become more interested to hold or accumulate more Bitcoin in their wallet for hoping that the value will be get more higher than expected.

How to buy Bitcoin (BTC) using Philippine peso?

Obviously, this article was intended for a newbie cryptocurrency investors. I would like to share my knowledge to them so that they can freely do bitcoin investing if they really want too.

Let's get started!

In order for you to buy Bitcoin using fiat currency in the Philippines, you should have an account first on Coins.ph. By the way, this is not a paid post from Coins.

Using Website App

- Visit the Coins.ph
- Then click "Create An Account"
- You can choose either mobile number or email to create an account, then click continue
- Now you'll see a verification screen. Check your smartphone or email for a message from coins.ph
- Congratulations! You can start buying Bitcoin (BTC)

Using Mobile App

- Download Coins.ph app and install (Google Play Store or Apple AppStore)
- Click Sign Up, or use your Facebook Account to create an account
- You can choose either mobile number or email to create an account, then click "Create My Wallet"
- Now you'll see a verification screen. Check your smartphone or email for a message from coins.ph
- You'll be asked to put four digits code before you can login
- Congratulations! You can start buying Bitcoin (BTC)

But before you can buy Bitcoin (BTC), you need to put a fiat money (Philippine Peso) into your coins.ph wallet. Here are the following cash-in method.

Cash-in to the following payment providers:

- 7-Eleven (Cliqq Kiosk)
- UnionBank (Online Banking/Cash Deposit)
- Palawan Pawnshop
- M-Lhuillier
- Cebuana Lhuillier
- TouchPay Kiosk
- Globe GCash
- Online Bank Transfer (BPI Express, Security Bank Online, Bank of Commerce)
- Over-The-Counter(BPI, UnionBank, Chinabank)
- Department Store(Robinsons Business Center, SM Bills Payment Center)

Let say you've successfully put your fiat currency into your coins.ph wallet. You can now go to your wallet and start converting your money (Philippine peso) into Bitcoin (BTC).

Just locate the "Convert" button then press it, be sure that your converting from "PHP" and then select the Bitcoin (BTC), as the cryptocurrency that you'll going to receive after the conversion.

As of writing this article, the current price of Bitcoin (BTC) in the crypto market is $ 3,579.08 while in the price chart of coins.ph is 1 BTC = Php 191,853.00. But don't worry, you could buy Bitcoin in a small unit of numbers which also known as satoshi (0.00000001 bitcoin)

Here in the Philippines, Bitcoin was tag as "SCAM", because more scammers in the country took the popularity of Bitcoin and some cryptocurrencies to use it into their non-sense and scamming business.

That's why Bitcoin gets a negative remarks from many non-techie person and left the oppurtunity that Bitcoin or other cryptocurrencies promising future.

Disclaimer: This is not a financial institution: All information provided here is for educational material: Do not take this information as professional investment advice.

Image from: coins.ph, Wikipedia
Image Edited by goodfilipino.com