Note: Click here if you want a Bitcoin wallet-centric article. Continue reading if you want to know more about cryptocurrency wallets not just for btc but for all coins. The cryptocurrency wallet has private and public keys or private and public addresses. When you send your friend John an altcoin, you send it to his public address. Remember that the blockchain is a public ledger.
Everyone John transacts with knows his public address. Everyone even knows how much altcoin is in his wallet. But only John can take the coin out of that wallet. Wallets come in different forms. For example, there are many Bitcoin wallets. Also, there are different wallets for different cryptocurrencies. Well, there are wallets where you can put many coins. Examples are wallets on cryptocurrency exchanges like the one on Bittrex. But wallets on an exchange are not secure. Furthermore, because exchanges trade millions of Bitcoin per day, they are a prime target for hackers.
Most of the time, the best wallets are the ones that give you access to your private and public keys. If you trust the company with your private keys, or whether you want your altcoins offline. We list down the best cryptocurrency wallet for users in the Philippines. Note: Every wallet listed here are wallets that you can freely download. Technically, all wallets are available globally, but some, like Abra, Coins, and Bitbit also have a team on the ground in PH. Some provide a watered-down version of their platforms, like Coinbase that only allows us to store our coins.
Meaning, its wallet functions are available to us. But their other features, like quick exchange and trading are not available for users in the country. These provide convenience although most of the time because they are connected to the Internet. However, most of them control your private keys. Desktop wallets are software wallets that sit on your computer and are generally secure. They range from easy-to-use to complicated-looking user interface. Most of the time you control your private keys.
Some, like Exodus, offers the ability to convert your coins to another via its Shapeshift integration this means you can trade your coins instantly to any other supported coins. Hardware wallets are the real deal. They are also generally expensive. However, many cryptocurrency websites agree on one thing — they are probably one of the most secure ways of keeping your coins safe.
Dubbed as the least expensive way to keep your coins. The private addresses are literally printed on a paper. We can recommend:. A number of Bitcoin Wallets are owned by Philippine companies. In this article, we will only focus on Bitcoin wallets owned by Filipino companies that are licensed by the Bangko Sentral ng Pilipinas to facilitate Bitcoin to fiat conversion and vice versa:. Boasting 5 million users, Coins.
It offers the following cryptocurrencies that you can buy or store on the mobile wallet:. Each of the above, of course, has different wallet addresses. All of the above can be converted from each other at a price set by the app. Also, because Coins.
Coins employ security features like SMS authentication and 2 factor authentication to make sure you are the one using the app and not someone else. Now, Coins. At Coins Pro, users can set their own buy and sell prices, just like a traditional cryptocurrency or stock exchange. Ethereum is built to allow users to create decentralized applications. So how can we buy Ethereum in the Philippines? Think of it as the token you buy to purchase something in the Ethereum network.
It is also the reward given to people who add something valuable to the network. To know more, please check this article:. Register for CEX. Also since this is a trading platform, you will be the one to set your prices for how much you want to buy per ether. You can now buy ethereum over-the-counter in the Philippines, thanks to Moneybees.
Abra is a bitcoin wallet, so our underlying currency is bitcoin. You can now get ether at Abra. The process is almost similar to buying bitcoin at Abra. But just so you do not need to check the previous link, here are the short steps:. For the steps above, test it with small amounts first! The instructions above are straight from Abra themselves. They mentioned 2 — 4 business days before the amount gets debited to your wallet. You may contact Abra here for any queries.
Update Dec. Thank you to commenter Janus to mention that information. You can buy ether at cryptocurrency exchanges. In the steps below, we used Bittrex to buy our ether. Bittrex is the 3rd largest cryptocurrency exchange and a lot of altcoins are traded there. We have articles on how to proceed from buying altcoins at Bittrex. These steps will detail the procedure from Coins.
Quoinex is a cryptocurrency exchange service based in Singapore that supports Philippine Fiat Philippine Peso. We recommend trying other exchanges such as Bittrex or CX if you want to buy ethereum. You are trusting the exchanges of your Ethereum because they have your private keys, not you. In the event that the exchange site gets hacked, all your coins and investment will be gone. It is common practice to put your coins in a wallet and only keep it in the exchanges the amount you will use for trading.
You can definitely do that. You can join Facebook Ethereum Groups based in the Philippines and negotiate before meeting in person. Of course, you have to be wary of those kinds of transactions. Make sure you have vetted the person you are transacting to before giving money to them. Above are the steps to buy Ethereum currently in the Philippines.
While definitely not as convenient as bitcoin, Ethereum is a really popular cryptocurrency that we should get interested to. Good morning sir, i have successfully transferred bitcoin from coins. If you bought ethereum, you cannot send it back to Coins.
But if you have began buying bitcoin straight on bittrex, you can send those coins back to your coins. Also, you might want to wait as Abra will launch their Ether wallet very soon so no need to convert back to btc and transfer back to Coinsph.
This is really Helpful. I want to focus on ether as well. They do have some minimum amount though. The alternative for coins, abra, etc are exchanges, like bittrex, quoinex, and so on. We should have a guide this week on understanding exchanges part of our intermediate guide to buying cryptocurrency. And if you have topics you want us to cover, just let us know. And lastly, thank you for raising these questions. Sir kamusta naman yung experience nyo sa Quoinex tungkol sa pag cash-in, cash-out, at pag exchange?
Lately medyo slow si Quoinex Platform sa Google Chrome. For now, we recommend going to another cryptocurrency exchange, such as Bittrex. As always, test things with small amounts first. Bitcoin and Ether are experiencing increased user growth. If something goes wrong, the customer support might be slow. Update lang. Mukang di pala pwede. A comment from Janus pointed it out. If you are going to widraw your eth you will have to convert to bitcoin first then transfer to external bitcoin wallet.