Summary: BDO doesn't provide integrated banking solutions for customers to directly trade digital currencies via its online banking platform. Therefore, investors must register with a crypto exchange regulated by Bangko Sentral ng Pilipinas, enabling PHP transfers for crypto purchases.
From a comprehensive review of over 20 licensed exchanges, Bybit emerges as our top pick. Bybit is one of the most secure trading platforms in the Philippines, offering fast and economical PHP deposits from BDO accounts or cards to trade an extensive array of digital assets with market-leading fees and liquidity.
Can I Buy Crypto with BDO Online?
Yes, purchasing Bitcoin, Ethereum, stablecoins, and other digital currencies via BDO is possible. Transactions can be conducted in Philippine Peso (PHP) from your BDO bank account or BDO Card towards a sanctioned cryptocurrency exchange in the Philippines. Crypto investors need to be registered with a certified digital currency platform that is regulated by the Bangko Sentral ng Pilipinas, or a comparable financial institution, and adheres to the requisite regulatory protocols.
How Buy Bitcoin and Crypto with BDO
The most secure way to invest in digital assets like Bitcoin using BDO Bank is by engaging with a regulated cryptocurrency exchange. A platform with global recognition for its trustworthiness and security is Bybit, which offers a broad selection of cryptocurrencies. Bybit provides various PHP deposit options from BDO bank such as Bank Transfer, Credit Card, Debit Card, among others.
Here is a straightforward guide to help you:
- Head to Bybit and create your account.
- Select the 'Buy Crypto' choice in your navigation menu.
- Choose 'PHP' as your currency and define your preferred payment method (e.g., Bank Transfer) to move funds from BDO Bank.
- Following a successful deposit, navigate to the trading segment, utilize the search feature to locate and acquire your chosen digital token.
What are the Fees?
The fees involved when purchasing Bitcoin and other digital currencies via a BDO Bank account may vary based on the chosen cryptocurrency exchange. Key costs to account for include deposit charges, withdrawal fees, spread rates, and trading costs.
We recommend Bybit as the most cost-efficient option for BDO Bank customers, as it offers free PHP deposits and competitive trading charges. The main expense when investing in digital assets on Binance is a trading fee, typically less than 0.1% per transaction. This makes it a more economical choice compared to other platforms like Coins.ph, which is known for charging fees considerably higher, often exceeding 1% per transaction.
Is BDO Crypto-Friendly?
BDO has demonstrated its support for its customers' cryptocurrency pursuits by authorizing transactions with approved external trading platforms that adhere to the regulations set by Bangko Sentral ng Pilipinas (BSP). This policy allows BDO Bank's customers to make PHP transfers from their accounts to platforms that comply with national norms and standards established to counteract financial malpractices such as fraud and money laundering.
Therefore, when transacting with these compliant platforms, BDO Bank clients can confidently delve into cryptocurrency investments, assured that their endeavours are not only secure, but also entirely in alignment with all necessary legal stipulations.
In conclusion, buying crypto with BDO is not only possible, but also secure and compliant with regulatory standards. Users can conduct transactions in PHP from their BDO bank account or BDO Card, engaging with reputable and regulated exchanges such as Bybit, which offers an array of cryptocurrencies and a cost-effective fee structure.
DO Bank supports its customers' cryptocurrency ventures, providing a safe platform for digital currency transactions. This makes the investment in cryptocurrencies not only legally sound but also assures clients of their financial security. Always remember, however, to adhere to the standard protocols and ensure your chosen exchange is regulated by the Bangko Sentral ng Pilipinas or similar financial institution.