29 May Buy Bitcoin in the Philippines with a Credit or Debit Card

Bitcoin is the world’s first and most utilized cryptocurrency, attracting interest from investors worldwide. This is also true in the case of the Philippines, as citizens are demonstrating increasing interest in the crypto market. Today, there are diverse ways through which you can get BTC, but purchasing it through your credit or debit card is the fastest and fitted for beginners. This blog post details how simple it is to make that first purchase of about 20 dollars worth of bitcoins, which would eventually allow you to start using them as money online for anything you want transactionally.

Alternative Buying Methods

It’s important to note that credit and debit cards aren’t the only way to acquire Bitcoin. For those seeking an alternative, you can buy crypto with SEPA bank transfers on some platforms. SEPA also known the Single Euro Payments Area is responsible for bank transfers within the EU and some other European countries not included in the Union. This method may be cheaper than a credit card purchase if you have a European bank account.  However, this article will focus on the more widely accessible method of using credit or debit cards in the Philippines.

Why Use a Credit or Debit Card to Buy Bitcoin?

There are several advantages to using a credit or debit card for your Bitcoin purchase:

• Convenience: Credit and debit cards are one of the most convenient methods of paying for Bitcoin since they are fast. Most transfers occur within a few minutes, and one can obtain Bitcoin.
• Accessibility: This negates the need to sign up for a new account or establish a bank transfer since the majority of Filipinos already have a credit or debit card.
• Security: Many of the leading exchanges take security seriously and make all programs safe for performing card transactions.

Things to Consider Before You Buy

Before diving in, here are some crucial points to keep in mind:

• Fees: There are normally fees involved for using credit and debit cards for purchases on most platforms. Some of them may be transaction fees, processing fees, and possible network fees. It is essential to compare fees of various exchanges to ensure to connect with one that will suit the trader’s needs best.
• Limits: Various exchanges may restrict how much Bitcoins can be bought per credit or debit card purchases. These limits may also be relative to the verification level or the platform being utilized.

Choosing a Platform to Buy Bitcoin

Several reputable cryptocurrency exchanges allow Filipinos to buy Bitcoin with credit or debit cards. Here are some popular options to consider:

• Coinbase: Simple interface, a fairly large selection of available cryptocurrencies to trade. Compared to others on the market, Coinbase has high fees for its services but is user-friendly for beginners.
• Paxful: Peer-to-peer marketplace for buyers and sellers. Paxful has many different payment options, including credit and debit cards. Fees vary based on the seller that you choose to work with.
• Binance: Global exchange with lots of features, and low fees. Compared to Coinbase and Paxful, Binance has more cryptocurrencies available to trade. The interface is a little confusing for beginners.
• Coins.ph: Philippines-based platform for buying and selling Bitcoin with different payment options, including credit and debit cards. Fees are slightly higher compared to global exchanges, but Coins.ph is tailored to Filipinos.

How to Buy Bitcoin with a Credit or Debit Card

The specific steps may vary slightly depending on the chosen platform, but the general process involves:

• Go to the Buy Section: Go to the ‘Buy’ or ‘Trade’ tab on the interface and select ‘Bitcoin’ as the desired crypto to onboard.
• Select Credit/Debit Card: Select ‘Credit/Debit Card’ as your payment option.
• Enter Amount: Enter the value you wish to purchase in BTC or the amount of fiat money you are willing to spend.
• Review and Confirm: Check the transaction information and add up the costs, then complete the purchase.
• Card Information: Please input your credit or debit card details safely.
• Receive Bitcoin: After the transaction is completed the purchased Bitcoin will be reflected in your account on the particular exchange platform.

Conclusion

It is easy for Filipinos to enter the world of cryptocurrencies by purchasing Bitcoin via a credit or debit card. If you adhere to the information given above and contribute to security provisions, sure you can make a useful and safe purchase.