Summary: BDO Bank doesn't have a built-in option for directly investing in cryptocurrencies. If you're interested in trading crypto, it's a good idea to go with exchanges that are licensed and regulated. BDO Bank supports fund transfers in Philippine Pesos to various trusted crypto platforms.
After thorough research, we find that Bybit is the top choice. Known for its low 0.1% spot trading fee and free deposits in Philippine Pesos, Bybit offers a wide range of over 100 digital assets for trading, staking, or lending. With its headquarters in Singapore, Bybit allows for quick deposits from BDO Bank accounts and serves customers in multiple countries through its secure and regulated platform.
- Free Philippine Pesos (PHP) deposits from BDO Bank via bank transfer, credit cards and more.
- Buy, sell and trade 770+ cryptocurrencies for low fees via spot and futures trading.
- Regulated and trusted exchange with over 18 million users in Asia and worldwide.
Can I Buy Bitcoin with BDO Bank?
Yes, BDO Bank permits its clients to transfer Philippine Peso (PHP) to well-known and regulated cryptocurrency exchanges in the Philippines. After you've transferred your funds, you have the option to buy Bitcoin or explore other digital currencies based on your preferences. It's important to clarify that BDO Bank doesn't handle cryptocurrency transactions directly. For a smooth and secure investing experience, we recommend choosing an exchange regulated by the Bangko Sentral ng Pilipinas (BSP).
How to Buy Crypto with BDO Bank
For BDO Bank customers looking to enter the crypto market, a safe route is to use a regulated digital asset exchange. We recommend Bybit for its adherence to strict regulations and its user-friendly options to buy, trade, and hold a wide variety of cryptocurrencies at competitive rates. With Bybit, transferring Philippine Peso (PHP) directly from your BDO account is simple and comes with multiple payment methods like bank transfers and debit cards.
Filipino investors can begin crypto transactions through BDO Bank by following these steps:
- Register: Create a Bybit account and complete the necessary verification steps to ensure account security.
- Choose Payment: Navigate to 'Buy Crypto' and pick a payment method that fits you best.
- Pick Currency: Choose your preferred currency, whether PHP, USD, or another option.
- Invest: Decide on the crypto you'd like, input your investment amount, and finalize the transaction.
BDO Bank Cryptocurrency Policy
BDO Bank maintains a prudent yet receptive approach to cryptocurrency engagements. The bank permits clients to interact with trading platforms that comply with the guidelines established by relevant authorities, such as the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission of the Philippines (SEC). Dedicated to customer safety and adherence to legal norms, BDO Bank holds the authority to halt transactions with platforms that may jeopardize the financial stability of our clientele.
Digital Asset Investing Fees
Knowing how much you'll pay in fees on crypto exchanges is key if you want to make the most of your money. Let's look at some common fees you may encounter when you invest in digital assets:
- Trading Fees: These can change based on the exchange. For instance, big names like Coinbase might charge you more than 1% for a simple trade, affecting your profits.
- Adding Money: Some exchanges charge you when you put fiat money into your account. This can add up if you make many deposits.
- Taking Money Out: The fee to withdraw your crypto can vary. It depends on both the platform and the type of crypto you're withdrawing.
If you're a BDO Bank customer looking for a cost-effective way to invest in crypto, Bybit is a great option. They charge a low 0.1% trading fee and zero deposit fees for Philippine Pesos, making your investment go further.
What is BDO Bank?
BDO Bank, short for Banco de Oro, is a leading full-service universal bank in the Philippines. It offers a comprehensive range of financial products and services, including savings and checking accounts, credit cards, loans, and insurance. With a focus on customer convenience and access, BDO operates an extensive distribution network featuring over 1,500 branches and 4,500 ATMs nationwide. Additionally, the bank maintains 16 international offices. Driven by a highly trained workforce, BDO aims to deliver quality service and create a top-notch banking experience for all its customers.
In summary, while BDO Bank doesn't offer direct cryptocurrency investments, it does enable users to transfer Philippine Pesos to reputable crypto exchanges. Our research points to Bybit as a top choice for its low trading fees, free deposits in PHP, and a robust selection of digital assets. Always prioritize exchanges that are regulated by authoritative bodies like the Bangko Sentral ng Pilipinas to ensure a secure and smooth investment journey.