Cryptocurrency in Philippines
Cryptocurrency is a global term that is rapidly gaining traction worldwide. It is a popular way of investment and, in some cases, acts as a legal tender to stabilize the financial strategies of countries and institutions.
Similarly, the Philippines is one such global hotspot, where a large number of Filipinos are participating in crypto trading. According to markert's research in 2024, the Philippines had 52% cryptos ownership. Around half of the Philippine population owns global cryptos like Bitcoin and Ethereum in their cryptocurrency portfolio.
Importance of Crypto in the Philippines
According to market analysis, the growth of cryptocurrency trading in the Philippines in 2025 is expected to reach ₱US$641.5m. Its massive-scale adoption can boost the Philippine economy.
The Philippines is heavily dependent on foreign currencies that are sent by overseas Filipino workers to add in the economy. Where traditional money transfers are lengthy and time-consuming, transferring money through cryptocurrency can be cheap and fast. A perfect solution for resolving any further completion of money transfer. Another success for the Philippines was introducing new crypto regulatory frameworks by Bangko Sentral ng Pilipinas (BSP) that work in the favor of investors and encourage new investors to trade more in cryptocurrency.
Is Crypto Legal in the Philippines?
The Philippines government is in full support of trading individuals and institutions, but still not legally considering cryptocurrency as legal tender. As cryptocurrencies are developing with global regulation the Securities and Exchange Commission (SEC) also introducing its new regulatory framework ensuring safe and secure trading platforms for investors. The cryptocurrencies fall under “tokenized securities products” to define and regulate law more clearly.
Individuals and businesses who deal with buying and selling cryptocurrency in the Philippines must follow the SEC-approved exchange rules and regulations.
Top Trending Cryptocurrencies in the Philippines
Cryptocurrencies continue to gain momentum in the Philippines. With proper guidance from the Philippine government, the population has access to both local and global trading platforms.
Some popular cryptocurrencies are:
- Slingshot (SLING)
- Bitcoin (BTC)
- XRP (XRP)
- Solana (SOL)
- Ethereum (ETH)
- Dogecoin (DOGE)
Crypto Exchanges & Platforms in the Philippines
The Philippines exchange caters to different traders to meet various trading preferences and needs. The diverse exchange platforms are helpful for different types of investors—whether short-term or long-term—dealing with cryptos like Bitcoin, Ethereum, or altcoins. There is a perfect match for every investor, but as crypto is a volatile market, one should always do their research before trading.
Popular Exchange Forms:
Centralized Exchanges (CEX)
- Run by a company or authority
- Easy to use, high trading volume
- Investors trust the platform to hold their funds
- Most popular type in the Philippines
Decentralized Exchanges (DEX)
- No central authority; users trade directly
- More private and secure
- Investors control their funds
- Best for users who value privacy but harder for beginners
Futures Exchanges
- Trade contracts to buy/sell crypto at a future date
- Good for betting on price movements
- High risk, high reward
- Popular among experienced traders
Margin Trading Platforms
- Trade with borrowed money
- Can boost profits—but also losses
- Suitable for confident, risk-taking traders
Peer-to-Peer (P2P) Exchanges
- Users trade directly with each other
- More private, with flexible payment methods
- Requires trust between buyers and sellers
Options Exchanges
- Trade contracts that let you buy/sell at a set price before expiry
- Used for advanced trading strategies
- Complex but useful for managing risk
Popular Philippine Cryptocurrency Exchanges
- Bitget
- Binance
- Gemini
- Coinbase
- Kraken
Cryptocurrency Wallets in the Philippines
- Types of Wallets: Filipinos use various wallets, including hot wallets (software-based) and cold wallets (hardware-based), depending on their security preferences.
- Wallet Adoption: Popular mobile wallets like Coins.ph are the best for their easy convenience and additional financial services. Global solutions such as Trust Wallet and MetaMask are also in use.
- Security Concerns: Users face challenges like phishing attacks and scams. Educational initiatives are in place to promote best security practices.
- Wallet Providers: Local providers like Coins.ph offer integrated wallet services, while international options like Ledger and Trezor are available for hardware wallet users.
Crypto Taxation in the Philippines
Philippines cryptocurrency taxation is simple; they need to disclose their income or gains from trading cryptocurrency. If anyone gains profit through selling or trading crypto, they need to pay a 15% capital gains tax (CGT).
The investment also varies on deals of individuals or businesses, which will be subjected to income tax or value-added tax (VAT). For Filipino taxpayers, one must follow the Bureau of Internal Revenue (BIR) rules while filing their annual income tax returns.
However, many individuals of Filipinos are unaware of clear laws and awareness that are set by the government. So, the Filipino government is working hard to make the rules clear and easier to follow in future trading.
Crypto Regulation in the Philippines
The Philippine government's main aim is to protect investors by implementing the latest technology and innovation. Two government key bodies that regulate the Philippine crypto market for the smooth flow:
Securities and Exchange Commission (SEC): Aims to monitor and regulate financial securities, and investments, to provide transparency and protection to investors who deal with cryptocurrencies.
Bangko Sentral ng Pilipinas (BSP): Aims as the central bank in crypto trading to secure the use of cryptocurrencies.
Is the Philippine Government Going to Adopt Crypto?
As of March 2025, the Philippine government grants permission to trade cryptos to individuals and businesses. However, the government hasn’t adopted crypto as a financial strategy nor accepted it as legal tender. Maybe in the future, it can change as the Filipino government is implementing new and upcoming crypto regulations giving crypto adoption a positive chance.
Conclusion
Cryptocurrency trading and exchanges are evolving, as well as crypto adoption. With new and clear statutory frameworks, dealing with cryptocurrency is accessible and easy. The cryptocurrency market is projected to continue its growth rapidly, with a boost from global crypto action to crypto reserve by mega giant institutions.
FAQ
1. Can the Philippines deal with cryptocurrency?
Yes, the Philippines is clear to buy and sell cryptocurrency under government exchange and platforms.
2. Is the Philippines crypto regulated?
The crypto market is regulated by the Philippines Bangko Sentral ng Pilipinas (BSP), and the Securities and Exchange Commission (SEC).
3. Popular cryptocurrency in the Philippines?
Global popular Bitcoin.
4. Market capitalization of cryptocurrency in the Philippines?
According to an analysis in 2025, the Philippines' cryptocurrency is going to reach ₱US$641.5m.
5. What’s the top crypto exchange?
PDAX is the popular crypto exchange for the Philippines.
6. Can I pay for cryptos in a store?
Trading cryptocurrency is valid but the exchange of money is prohibited.
7. What is the tax rate for crypto investment?
Around 15% is taxed on income from crypto investments.
8. What’s a common crypto use case?
Remittances, where overseas working people send money to the Philippines by cryptocurrency.
9. Which stablecoin is popular?
USDT is the popular stablecoin.
10. Are there crypto scams in the Philippines?
Yes, mostly phishing, and money laundering, always be careful while investing in cryptocurrency.