Best Bitcoin Wallet Philippines – Top 4 Bitcoin Wallets in 2021
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Over the past few years, Bitcoin has taken the world by storm. It wasn’t long ago that Bitcoin was commonly regarded as a scam coin, only used by criminals. However, since that time things have changed drastically, Bitcoin now has a market cap of over $1 trillion, more than some of the largest companies in the world. Numbers like this are impossible to ignore and as more and more institutional money begins to flow into the sector, this number is set to continue growing. With many investors predicting the price of Bitcoin to rise to over $100,000 over the next few months, it’s no surprise that investors are flocking to invest in Bitcoin before the next big run-up occurs. If you’re looking to invest in Bitcoin, there’s one thing you absolutely need to have, and that’s a Bitcoin wallet. So, it seems fitting that we break down the best Bitcoin wallets currently available to residents of the Philippines.
Throughout this article, we’ll be discussing the best Bitcoin wallets, how to select a good Bitcoin wallet, and precisely how you can invest in Bitcoin right now. After you’ve finished reading our article, you’ll be armed with all the knowledge you need to get started on the right foot and make an investment in Bitcoin.
Table of Contents
#1 Bitcoin Wallet In The Philippines- eToro
1
Mobile AppYes
Best Bitcoin Wallets Philippines – Top 4 List
If you’re looking for a quick and simple rundown of what the top 4 Bitcoin wallets do best, then we’ve got you covered! Here’s our quick summary of the best Bitcoin wallets you can use right now!
- eToro – All-Around Best Bitcoin Wallet Philippines
- Capital.com – Best Bitcoin Wallet for Learners Philippines
- AvaTrade – Best Low Fee Bitcoin Wallet Philippines
- Electrum – Best Non-Custodial Bitcoin Wallet Philippines
67% of retail investor accounts lose money when trading CFDs with this provider.
Best Bitcoin Wallets Philippines – Full Reviews
As of 2021, there are hundreds if not thousands of different Bitcoin wallets currently available, and although they all complete the same basic functions, not all of them were created equally. Some have unnecessary features that are unlikely to be used in the real world, others are costly or untrustworthy. So, to help our readers navigate this minefield we’ve provided in-depth reviews on the top 5 best Bitcoin wallets in the Philippines.
1. eToro – All-Around Best Bitcoin Wallet Philippines
A titan in the investment space, eToro currently serves over 20 million users and has been operating since 2007. Statistics like this aren’t easy to acquire, you need to be consistently providing an excellent investment experience. In the cryptocurrency sector, this involves providing investors with user-friendly, secure Bitcoin wallets. Luckily, eToro provides exactly that! Every user on the platform is entitled to a free exchange wallet for every cryptocurrency they hold, meaning holding your coins in eToro could be a great option for those invested in a variety of assets.
Security
One of the first things the vast majority of investors think about when selecting a Bitcoin wallet is security. The internet is filled with stories of people losing thousands due to a hack, but with eToro, you needn’t worry. Their industry-leading security is tailor-made to protect its users and ensure nobody is ever left out of pocket because eToro was compromised. Regulation is an ever-more important signal that a platform is trustworthy, if you trade on an unregulated platform you have far greater chances of being a victim to a rug-pull or something strange going on behind the curtain. eToro is regulated by the FCA, CySEC, and ASIC, all leading authoritative bodies in their respective regions. Another way eToro protects its users is by keeping client funds away from the network, locked away in cold storage. This is an extremely important step to preventing customer funds from being lost due to a hack or something similar. Additionally, any sensitive information you may have to provide eToro (password, email, card info) is secured using SSL encryption, this prevents anyone from intercepting your data while it travels from your device to the eToro servers.
Features
eToro is jam-packed full of enough features to keep everyone happy. They’ve got heaps of resources to help beginners get started on the right foot as well as enough meat on the bones to keep experienced traders busy. New users may find the eToro academy useful, it’s a comprehensive educational platform that ensures new investors have the skills they need to be successful. Along with this, eToro provides users with a couple of interesting copy features, CopyTrading and CopyPortfolios. The former is an automated social trading platform that allows you to mirror an experienced user that matches your trading strategy. The latter is an ETF-like way of investing that provides exposure to a range of related assets from the push of a single button, an excellent way of diversifying your portfolio without needing to do hours of research. Experienced investors haven’t been left out either, eToro allows users to trade a variety of financial products, in a range of markets, meaning that regardless of your plan, the chances are eToro will be able to facilitate it. All in all, when you take into consideration the plethora of features eToro offers outside of its Bitcoin wallet, it becomes clear why they’ve taken the top spot.
eToro Fees
| Fee Type | Fee Amount |
| Bitcoin Spread | 0.75% |
| Commission Fee | 0% |
| Deposit Fee | $0 |
| Withdrawal Fee | $5 |
| Inactivity Fee | $10 (Monthly) |
Pros
- Regulated
- SSL Encryption
- Cold Storage
- CopyTrading
- CopyPortfolio
Cons
- Lacking MetaTrader Support
- Additional Indicators would be beneficial
67% of retail investor accounts lose money when trading CFDs with this provider.
2. Capital.com – Best Bitcoin Wallet for Learners Philippines
Launched in 2016, Capital.com is the youngest exchange on our list. However, don’t let its age fool you, Capital.com is an extremely capable investment platform and provides its users access to powerful trading tools and a free Bitcoin wallet. Due to Capital.com’s simple interface and extensive educational material, it’s no surprise that it’s regarded as one of the best Bitcoin wallets for learners.
Security
Capital.com employs a range of techniques to ensure safety for its users, by implementing a range of high-tech preventative measures, users can rest assured knowing their funds are safe. Firstly, Capital.com is regulated by the FCA and ASIC, meaning they’re regularly audited and compliant with strict rules designed to ensure the safety of retail investors. A major weak point for most platforms is ensuring the data transfer chain, it’s crucial attackers aren’t able to intercept your data before it reaches Capital.com. So, to prevent this from happening Capital.com users Transport Layer Security, a recent variant of SSL encryption, This technology ensures all client data is sufficiently obscure before it even leaves your device, rendering it useless to an attacker. Additionally, Capital.com adheres to PCI Data Security standards, this prevents the mishandling of client data and acts as a preventative measure greatly reducing the chance of client data falling in the wrong hands.
Features
As we mentioned, Capital.com is potentially the best Bitcoin wallet for learners, outside of its simplicity, the reasons are two-fold. Firstly, Capital.com includes heaps of online educational resources that are accessible to anyone, they cover the majority of topics a beginner may find themselves looking for guidance on and are presented in an easy-to-understand way. If that wasn’t enough, Capital.com has gone the extra mile to deliver an educational app called Investmate, designed to create better-informed investors, while only requiring access to a mobile device. Overall, we’d have to say that Capital.com boasts the strongest, most accessible educational material out of any platform we’ve analyzed, making it a phenomenal option for investors looking to sharpen their skills.
Capital.com Fees
| Fee Type | Amount |
| Commission | 0% |
| Withdrawal Fee | $0 |
| Deposit Fee | $0 |
| Inactivity Fee | $0 |
Pros
- Regulated
- Transport Layer Security
- PCI Data Security Standards Compliant
- Investmate
Cons
- Only Supports CFD trading
- Crypto investments not available to UK residents
76.72% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
3. AvaTrade – Best Low Fee Bitcoin Wallet Philippines
Since its release in 2006, AvaTrade has managed to make a name for itself as a reputable, top-quality brokerage that takes pride in providing an excellent trading experience. This is achieved by providing users with a great deal of choice. AvaTrade offers a range of different account types and investment platforms, catering to the needs of the masses while still offering specialist tools.
Security
The team at AvaTrade has definitely put a lot of thought into how they can make sure their platform is as secure as possible. They use a two-fold system to protect client data and have been careful to follow regulations laid out by a T, resulting in an extremely well-protected Bitcoin wallet. Firstly, AvaTrade utilizes 256-bit SSL encryption to ensure client data wouldn’t be usable if it were intercepted by a bad actor. Additionally, McAfee Secure is used to provide an extra layer of protection for important documents (identity documents, card information, etc). This combination of security technologies ensures that AvaTrade remains safe against the majority of attacks. On top of that, AvaTrade gives users the option of enabling 2-factor authentication, which requires a user to input a code sent to their mobile or email before they’ll be able to complete any important account actions.
Features
In terms of features, AvaTrade excels, they boast a wide range of investment platforms specializing in various sectors, such as mobile trading, options trading, automated trading, and social trading. By offering investors choice, they cater to a wider audience and give their users exactly what’s needed. Their mobile platform is called AvaTradeGO and is designed to provide on-the-go investors with a comprehensive trading platform that doesn’t skimp in any areas. As the name would imply, AvaOptions is their specialized options trading platform, which could be beneficial to anyone looking to invest in assets outside of Bitcoin. In a similar fashion to eToro, AvaTrade provides its users with an automated trading platform called ZuluTrade. This platform provides you with the ability to automatically mirror the traders of another user, whom you can select based on several criteria, allowing you to find a user following a similar strategy to you. On top of all this, AvaTrade offers one of the most attractive fee structures out there, there’s no commission, withdrawal, or deposit fees and the spread fees they offer are well below the industry average, this means that you get the best value for money when using AvaTrade as your Bitcoin wallet.
AvaTrade Fees
| Fee Type | Fee Amount |
| Bitcoin Spread | 0.25% |
| Commission Fee | 0% |
| Deposit Fee | $0 |
| Withdrawal Fee | $0 |
| Inactivity Fee | $50 after 3 months & $100 after 12 months |
Pros
- Regulated
- 256-Bit SSL encryption
- ZuluTrade
- AvaTradeGO
- AvaOptions
- Low Fees
- 2FA
Cons
- UI a Bit Dated
- Not Available Everywhere
Your Capital is at Risk.
4. Electrum – Best Non-Custodial Bitcoin Wallet Philippines
And to finish off our list of the best Bitcoin wallets in the Philippines, we’ve got Electrum, a dedicated, non-custodial Bitcoin wallet. Electrum differs from the other Bitcoin wallets we’ve discussed as they trade extra features for increased security. While this won’t be necessary for many, the security-conscious will likely appreciate the additional protection offered by a non-custodial wallet.
Security
The phrase we mentioned earlier “non-custodial” is likely the biggest draw to a Bitcoin wallet like Electrum. Every crypto wallet comes with a set of keys, one is used to verify the wallet and the other is used to recover it if you lose access. Most Bitcoin wallets are custodial, meaning they look after the keys on your behalf, while this can be beneficial for new users that aren’t aware of the keys’ importance, it also means that they don’t technically own the coins held within the wallet. This is where a non-custodial wallet like Electrum comes into its own, you have access to all the keys associated with the account meaning that even if you lose the device you use to access your crypto, you can still recover it. Additionally, Electrum does not have any sign-up process meaning it’s far more anonymous than exchange wallets. However, the price of anonymity is not being able to purchase any Bitcoin directly within the wallet, you’d have to sign-up to an exchange like eToro, buy crypto, and withdraw it to your Electrum wallet.
Features
In terms of features, there’s not a whole lot to say about Electrum. Its feature set is as basic as they come, you can send and receive your Bitcoin, but that’s about all. When receiving Bitcoin, Electrum provides you with single-use addresses, this ensures that your Bitcoin address doesn’t get exposed and become a target for hackers, further adding to the security of the platform.
Electrum Fees
| Fee Type | Fee Amount |
| Network Fees | Variable |
| Commission Fee | N/A |
| Deposit Fee | N/A |
| Withdrawal Fee | N/A |
| Inactivity Fee | N/A |
Pros
- Extremely Secure
- Non-Custodial
- Single-Use Addresses
Cons
- Can’t Buy Bitcoin
- No Trading Features
- Support for Bitcoin Only
- Dated interface
67% of retail investor accounts lose money when trading CFDs with this provider.
What is a Bitcoin Wallet?
A Bitcoin wallet is a piece of technology used to manage your crypto holdings. Oftentimes, a wallet will support multiple currencies (e.g. ADA, XRP & BTC) which is extremely beneficial for those wanting to manage multiple assets on one account. That being said, some wallets like Electrum are dedicated to a single cryptocurrency. Generally, a Bitcoin wallet provides 3 main services:
- Holding Assets: Perhaps the most basic feature a Bitcoin wallet needs to have is the ability to store your coins. When you purchase your Bitcoin, you’ll need a safe place to store it. Typically, an exchange will automatically create a wallet for you to store your purchase, however, if you plan on holding for a long period, using a non-custodial wallet might be the better option.
- Exchanging Coins: The ability to exchange one coin for another is huge when it comes to crypto. Instead of having to transfer your assets to an exchange, sell them, purchase a different asset, and withdraw (all of which can incur fees), you can simply exchange your coins near-instantly, for a minimal fee. Not every wallet provides this feature, so if it sounds appealing to you make sure to do your research. Our top 3 brokers eToro, Capital.com, and AvaTrade all offer the ability to exchange your assets easily.
- Managing Positions: And last but certainly not least, comes the need for managing your positions. This can involve anything from monitoring the price to buying or selling an asset. It’s important to make sure your wallet of choice allows you to do all 3 without much effort.
How to Find the Best Bitcoin Wallet
Considering how many are out there, finding the best Bitcoin wallet can be an extremely taxing task. Oftentimes, a platform promotes intriguing features to rope users in rather than focusing on proving an excellent trading experience. While some extra features are always welcome, they should never come at the detriment of the core trading experience. To help our readers better understand what factors are important when selecting a Bitcoin wallet, we’ve broken down 3 key things to look out for.
Security
Security is arguably the most important thing to look out for when you’re deciding how you want to store your crypto. If you choose a wallet with poor security or known exploits then the chances of losing your money are increased exponentially. Some things to look out for are regulation, 2FA, and encryption. If a platform has all 3, you should be fairly safe.
Convenience
This factor can be commonly overlooked, but that doesn’t mean it’s unimportant. If you’re planning on actively trading and making regular investments, then you need to make sure your Bitcoin wallet of choice allows you to do so without much effort. If you plan on frequently buying or selling it’s advisable to use an exchange wallet as they usually have the best fees.
Features
And lastly, it’s always worth taking a look at what a platform offers outside of the usual. Although the main features to look out for are low fees and a refined buying/selling process, many modern brokerages are bringing out innovative features. Without taking a look at what a platform offers, you’ll never know what feature you could be missing out on.
How to Get Started with the Best Bitcoin Wallet – Full Guide
It’s no secret that learning how to use a new Bitcoin wallet can be a difficult task. So to help alleviate some of the stress associated with the process, we’ve included this detailed guide on exactly how you can start investing in Bitcoin with eToro.
Step 1: Sign Up
Before you can invest in Bitcoin, you need to equip yourself with a top-quality Bitcoin wallet. eToro is easy-to-use, has great security, and allows its users to buy and sell without much effort. To register, all you’ve got to do is type “eToro.com” into your browser’s search bar, press “Join Now” and fill in the required fields.
67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2: Verify Identity
eToro is a regulated platform, this means investors can benefit from increased security and place more trust in the platform than with an unregulated counterpart. The verification process is simple and only takes a few minutes. All you have to provide is a photo ID (passport, driving license) and proof of address (utility bill).
Step 3: Fund Account
The final step before investing in Bitcoin is funding your account. To do this, just click on the button marked “Deposit Funds”, type in the amount you’d like to invest, and press “Deposit”. The funds will be automatically credited to your account. When investing with eToro, you can deposit using either a credit/debit card, bank transfer, or e-wallet (PayPal, Skrill).
Step 4: Invest in Bitcoin
Now that your eToro account has been funded you’re ready to purchase some Bitcoin! Just type “Bitcoin” (or BTC) into the eToro search bar, press “Trade”, enter the amount you’d like to invest, and press “Open Trade”. You’ll be able to manage your investment from the portfolio section of your account.
Conclusion
All in all, Bitcoin is a revolutionary financial product, who’s underlying technology is set to disrupt a magnitude of industries. With predictions for the price of Bitcoin going as high as $100,000 by the end of the year, now could be the last time you’re able to buy Bitcoin at a reasonable price. However, to take full advantage of Bitcoin’s potential, you’ll need to arm yourself with a trusted Bitcoin wallet. If you select a subpar wallet, your entire investment experience can easily be hindered. So to ensure that doesn’t happen to our reader, we offer a suggestion, eToro. After carefully analyzing a plethora of Bitcoin wallets, it seems none can compare to the blend of security, features, and convenience offered by eToro. If you’re looking for the all-around best Bitcoin wallet, then you’re in good hands with eToro.
Best Bitcoin Wallet In the Philippines – eToro
1
Mobile AppYes
FAQs
What is the best Bitcoin wallet in the Philippines?
Is Bitcoin Legal in the Philippines?
Which is the best Bitcoin wallet in the Philippines for safety?
What is a Bitcoin wallet for?
What wallet can be used to purchase Bitcoin?
