Summary: BPI enables customers to invest in cryptocurrencies by approving transfers to regulated digital asset exchanges. Finding one that operates under the regulations of the Bangko Sentral ng Pilipinas (BSP) and the Philippines' Securities and Exchange Commission (SEC) is recommended for maintaining regulatory compliance in the country. In this process, the bank acts as an intermediary, guaranteeing secure and transparent transactions for its users.
Following our thorough analysis, we recommend Bybit as the most appropriate exchange for BPI Bank clients. Bybit conforms to relevant financial standards in the country, offers free PHP deposits, and features a portfolio of over 1,000 tokens with minimal transaction fees. As a globally accessible platform, it provides a multilingual interface that can be used in English and Tagalog, making it an ideal option for Filipino investors.
- Instant and free PHP deposits from any Phllippinian bank, debit or credit card.
- Buy 1,000+ cryptocurrencies with low fees (0.1%) through spot and futures trading.
- Regulated and trusted exchange with over 22 million users worldwide.
Can I Buy Bitcoin with BPI Bank?
Definitely, BPI clients can buy, sell and trade Bitcoin and other digital assets by using cryptocurrency exchanges in the Philippines. To clarify, the bank does not directly offer investment services but enables its clients to conveniently transfer funds from their bank accounts to these platforms. Engaging with brokers that meet the standards of the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) ensures a safe and compliant investment experience.
How to Buy Crypto with BPI Bank
BPI Bank customers can purchase digital currencies through accredited crypto exchanges that adhere to BSP and SEC regulations. In our research, we identified Bybit as an excellent choice for this purpose, complying with Philippines financial laws and ensuring strong security and transparency. The platform supports over 1,000 digital assets available at low fees and offers various PHP payment methods, including bank transfers, Paymaya, Google Pay, PayPal, and credit or debit cards.
Here’s our straightforward guide for cryptocurrency trading in the Phillipines:
- Create an Account: Sign up on Bybit and undergo the identity verification process.
- Pick a Payment Method: Find a deposit option compatible with BPI Bank in the ‘Buy Crypto’ section.
- Choose a Currency: Pick 'PHP' as your currency and select one of the available tokens to purchase.
- Finalize The Process: Determine your investment amount and complete your purchase by tapping ‘Buy.’
BPI Bank Cryptocurrency Policy
BPI provides its clients with access to the digital asset market under the financial regulations of the Philippines. This is made possible through partnerships with cryptocurrency exchanges that comply with the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC). We suggest choosing Bybit as it’s a leading platform in the region. Bybit is recognized for its commitment to international regulations, headquartered at One Central, Dubai World Trade Center, and holding an MVP license by VARA.
Digital Asset Investing Fees
If you are new to trading, understanding the fees involved in the process will help you make smart financial decisions and maximize your investment returns. Let’s take a look at the common expenses you can expect to encounter on digital asset exchanges:
- Deposit Charges: The fee for adding money to your trading account can vary depending on the payment method used. Generally, bank transfers are more efficient than quicker alternatives like credit or debit cards.
- Trading Commissions: The rates for buying and selling digital currencies vary across different exchanges. Bybit is distinguished for its low fees, usually around 0.1%. This number is quite competitive compared to rival platforms like Coinbase, which may cost up to 4% per transaction.
- Withdrawal Fees: The charge for withdrawing your assets depends on the cryptocurrency in question. For instance, Bitcoin cashouts usually cost about 0.0005 BTC.
For BPI Bank customers considering digital asset investments, Bybit offers an affordable choice. It's a platform chosen by over 22 million people for its robust security, ease of use, broad selection of more than 1,000 different cryptocurrencies, and notably low transaction fees.
What is BPI Bank?
BPI Bank (Bank of the Philippine Islands) is a significant financial institution and one of the oldest banks in the country, established in 1851. It has a rich history, offering a wide range of financial services, including corporate, retail, and investment banking, as well as asset management and insurance products.
The bank has an extensive branch network across the Philippines and takes an innovative approach, notably in digital services and mobile banking. Moreover, it plays a pivotal role in the national economy, catering to the diverse needs of individuals, small and medium enterprises, and large corporations. Its commitment to financial inclusion and sustainable practices has positioned BPI as a trusted and reliable banking partner in the country.
Final Thoughts
To conclude, BPI Bank collaborates with established cryptocurrency exchanges in the Philippines to grant its customers entry into the digital asset market. This strategy aligns with the guidelines of the Bangko Sentral ng Pilipinas and the Philippines' Securities and Exchange Commission. Bybit is our top recommendation because of its swift Philippine Peso transactions, extensive range of over 1,000 digital currencies, and useful features like practice accounts, lending and borrowing services, and multiple order types (spot, options, and derivatives trading).
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
