Referral link: we may earn a reward if you sign up.
Risk warning: crypto can lose money, quickly and by a lot. Prices are highly volatile, and you could lose part or all of what you put in. Only use money you can afford to lose.
The safest way to buy crypto in the Philippines is to use a platform registered with the Bangko Sentral ng Pilipinas (BSP) as a Virtual Asset Service Provider, turn on two-factor authentication, and start with a small amount you can afford to lose. Just as important is spotting scams early: guaranteed returns, recruitment bonuses and “unlock fees” are red flags.
Crypto keeps coming up in group chats, on TikTok and at family gatherings. If you are curious about buying Bitcoin or another coin for the first time, the most important question is not “which coin will go up?” It is “how do I do this without getting scammed or losing money to mistakes?” This checklist walks you through the safe way to start.
Which crypto platforms are licensed in the Philippines?
In the Philippines, crypto exchanges that serve the public are regulated by the Bangko Sentral ng Pilipinas (BSP) as Virtual Asset Service Providers, or VASPs. Using a BSP-registered platform means the company has to follow Philippine rules, including anti-money laundering requirements, and there is a local regulator you can complain to.
The Securities and Exchange Commission (SEC) has repeatedly warned Filipinos against unregistered foreign trading platforms that offer crypto and other investment products. In some cases it has gone further: in November 2025 it issued a cease-and-desist order against one such platform that offered crypto CFDs and other products without a license, according to reports by BitPinas and Manila Bulletin. Before you sign up anywhere, check whether the platform is registered with the BSP and look for any SEC advisory about it.
Example: Coins.ph
Coins.ph is one of the longest-running crypto apps in the country. According to its help center, its operator, Betur Inc., is registered as a VASP and holds BSP licenses for remittance, e-money issuance, and money changing/foreign exchange dealing and virtual currency exchange. A related company, DCPay Philippines Inc., is registered with the BSP as an electronic money issuer. You can buy, sell and hold crypto in the app and cash in or out in pesos.
We use Coins.ph as an example because of its local licensing, not because crypto is a safe investment. The risks below apply on any platform.
What fees do you pay when buying crypto?
Crypto apps make money in a few ways:
- Spread. The “buy” price is a little higher than the “sell” price. If you buy and immediately sell, you will get back less than you paid.
- Trading fees. Some platforms or trading modes charge a percentage per trade.
- Cash-in and cash-out fees. Some payment channels charge to move pesos in or out.
- Network fees. Sending crypto to an outside wallet costs a blockchain fee that changes with network traffic.
Fees change, so check the current fees on the official site or app before every transaction, and always look at the final amount on the confirmation screen.
How do you secure your crypto account?
- Turn on two-factor authentication (2FA). An authenticator app is generally safer than SMS codes.
- Use a strong, unique password. Do not reuse your email or Facebook password.
- Never share OTPs. No legitimate employee of an exchange, bank or e-wallet will ask for your one-time password, PIN or recovery phrase.
- Download only the official app. Fake apps and look-alike websites are common. Type the address yourself rather than clicking links in texts or ads.
- Keep your phone updated and avoid installing random APKs.
How much should a beginner buy first?
Your first purchase does not need to be big. Buy a small amount, then practise the basics: check your balance, look at your transaction history and try a small sell back to pesos. Learning how it works with ₱500 is much cheaper than learning with ₱50,000.
Stick to well-known coins while you learn. Newly launched tokens promoted with countdowns, celebrity names or “next 100x” claims are where beginners most often lose money.
What are the red flags of a crypto scam?
Crypto scams in the Philippines often look like this:
- Guaranteed returns. “Earn 10% a week” or “double your money in a month.” No legitimate investment guarantees returns like these.
- Recruitment bonuses. If you earn mainly by bringing in new members, it is likely a pyramid or Ponzi scheme.
- “Account managers” on Telegram or WhatsApp. Strangers who offer to trade for you, or ask you to move funds to a different platform, are a classic warning sign.
- Romance or “task” scams. A new online friend or job that slowly pushes you to deposit crypto.
- Withdrawal fees before you can withdraw. If a platform says you must pay a “tax” or “unlock fee” before you can get your money out, stop. That is a hallmark of fraud.
If you suspect a scam, report it to the SEC or the platform’s official support, and warn friends and family.
Where should you keep your crypto?
Keeping coins on a licensed exchange is convenient for beginners. Moving them to a personal wallet gives you full control, but also full responsibility: if you lose your recovery phrase, nobody can restore your funds. When sending crypto anywhere, double-check the address and the network. Sending on the wrong network can mean losing the coins permanently. Always send a small test amount first.
What plan should you have before you buy?
- Have an emergency fund in a regular bank account first.
- Decide how much you are willing to lose completely, and do not go above it.
- Do not borrow money or use credit cards to buy crypto.
- Keep records of your purchases and sales; you may need them for tax or dispute purposes.
- Do not make decisions in a panic when prices swing. Volatility is normal in crypto.
How do you get started on Coins.ph?
- Download the official Coins.ph app or go to the official website.
- Register and complete identity verification with a valid ID.
- Set up 2FA and a strong password.
- Cash in a small amount of pesos through a channel you trust.
- Buy a small amount of a well-known coin, then check the fees and the confirmation details.
If you would like to open an account, you can use our link: Sign up for Coins.ph.
Referral link: we may earn a reward if you sign up.
Risk warning: crypto can lose money. This guide is general information, not financial advice.
Frequently asked questions
Is crypto legal in the Philippines?
Yes. Buying and selling crypto is allowed, and exchanges serving the public are supervised by the BSP as Virtual Asset Service Providers.
How much do I need to start?
You can start small. Practising with about ₱500 teaches you the fees and steps far more cheaply than a big first buy.
Can I get my money back if I get scammed?
Often not, which is why prevention matters. Report it right away to the SEC and the platform’s official support.
Should I keep crypto on the app or in my own wallet?
A licensed app is simpler for beginners. A personal wallet gives full control, but losing your recovery phrase means losing your coins.
Related money guides on The Philippines Web
- Best high-interest digital banks in the Philippines, compared
- Cheapest way to send money to the Philippines in 2026
- Best UnionBank credit card for your lifestyle (2026)
Sources
- Coins.ph Help Center, Is Coins.ph Legit?: https://support.coins.ph/hc/en-us/articles/41678115882009-Is-Coins-ph-Legit (checked Oct 9, 2026)
- BitPinas, SEC cease-and-desist order against an unlicensed trading platform: https://bitpinas.com/regulation/sec-xm-cdo/ (checked Oct 9, 2026)
- Manila Bulletin, SEC cease-and-desist order against an unlicensed brokerage: https://mb.com.ph/2025/12/12/sec-issues-cease-and-desist-order-against-brokerage-firm-xm (checked Oct 9, 2026)
- BSP, List of Virtual Asset Service Providers: https://www.bsp.gov.ph/Lists/Directories/Attachments/19/VASP.pdf (checked Oct 9, 2026)
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