Yes: buying and selling crypto is legal through the 8 BSP-licensed providers, including Coins.ph, PDAX (the exchange behind GCash's GCrypto), GoTyme Bank and UnionBank. Platforms the SEC has named, such as Bybit, MEXC, OKX and Binance, are not on the BSP list.
Top picks to buy and cash out
Coins.phLowest published cash-out to GCash or Maya
Maya earns a margin on the price and does not publish it; Send and Receive were unavailable as of its 19 December 2025 notice. Maya help centre, posted 19 December 2025
Picked for the cheapest published way to get pesos into GCash, Maya or a bank, one per route (exchange app, inside GCash, inside Maya, large bank transfers), from each app's own fee and help pages as listed on 2 October 2026.
Check your GCash balance. InstaPay is the channel Coins.ph lists for fast, immediate transfers to GCash, Maya and banks, so the pesos should show in that balance right after you confirm. Coins.ph help centre, as listed on 2 October 2026 If the money has not arrived, raise it with the app's support first, then the BSP (RA 11765 sec. 8(f)).
Pesos to your bank account, or cash at a partner outlet
Skip it if you want to keep and trade coins inside an app: Moneybees sends the coins you buy to your own wallet, and its posted rates are valid for 15 minutes.
InstaPay, ₱15, real time, up to ₱50,000; Maya must be a verified account
Skip it if you fund from an e-wallet often: PDAX lists a 3% plus ₱15 cash-in fee from Maya and 1.80% from GrabPay, against free cash-in from UnionBank or Sterling Bank.
To your GoTyme everyday account, converted from US dollars to pesos, in 1 to 2 days
Skip it if you want to hold coins in your own wallet or send them elsewhere: Go Crypto has no external wallets or transfers, and every trade goes through US dollars.
Two regulators decide who may offer crypto to you; buying, holding and selling it is allowed.
The BSP licenses virtual asset service providers. A virtual asset service provider (VASP) needs a BSP Certificate of Authority to exchange crypto and pesos, swap one crypto for another, transfer crypto or keep it for customers. The BSP treats VASPs as money service businesses under its supervision. BSP Circular No. 1108, s. 2021
The SEC has required crypto-asset service providers to register with it since 5 July 2025: a Philippine corporation with at least ₱100 million paid-up capital, a staffed local office and customer assets kept apart. All the CASP requirements.
The SEC says its CASP Rules, in force since 5 July 2025, do not prohibit cryptocurrency trading or investment. They require platforms, local or foreign, to register and get the right licences before offering crypto services to people in the Philippines. SEC advisory, Clarifying the Enforcement of the CASP Rules, 14 Aug 2025
Compare the licensed apps
These are the providers on the BSP list, record updated 21 July 2026. The licence covers the company; it does not protect you from price swings.
Fees and limits as listed on 2 October 2026, each from the provider's own fee schedule, help centre or terms named in the cell.
you want to keep and trade coins inside an app: Moneybees sends the coins you buy to your own wallet, and its posted rates are valid for 15 minutes Moneybees site, as listed on 2 October 2026
you fund from an e-wallet often: PDAX lists a 3% plus ₱15 cash-in fee from Maya and 1.80% from GrabPay, against free cash-in from UnionBank or Sterling Bank PDAX help centre, as listed on 2 October 2026
you want to hold coins in your own wallet or send them elsewhere: Go Crypto has no external wallets or transfers, and every trade goes through US dollars GoTyme crypto page, as listed on 2 October 2026
To turn crypto into pesos, sell it on a BSP-licensed provider and withdraw the pesos. These are the steps, fees and limits each provider publishes on its own help pages, as listed on 2 October 2026.
Cheapest published cash-out: 2 licensed exchanges publish an InstaPay cash-out fee to GCash, Maya or a bank: Coins.ph ₱5 and PDAX ₱15 per transfer. Worked out: 4 cash-outs × ₱5 = ₱20 at Coins.ph; 4 × ₱15 = ₱60 at PDAX; difference ₱40 a month. Fees per the Coins.ph help centre and PDAX fee page, as listed on 2 October 2026.
How you know it worked: InstaPay is the channel Coins.ph lists for fast, immediate transfers to GCash, Maya and banks, so the pesos should show in that balance right after you confirm. Coins.ph help centre, as listed on 2 October 2026If it has not arrived by then: raise it with Coins.ph's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
How you know it worked: The pesos show in your Maya Wallet in real time or up to 2 business days after the sale. Maya Crypto terms, as listed on 2 October 2026If it has not arrived by then: raise it with Maya Crypto's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
Sell your coins to Moneybees at that rate. It transfers the pesos to your bank account, or you collect cash at a partner outlet. Moneybees site, as listed on 2 October 2026
How you know it worked: An InstaPay cash-out is real time; a PESONet cash-out arrives in 1 to 3 banking days. PDAX fee page, as listed on 2 October 2026If it has not arrived by then: raise it with PDAX's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
How you know it worked: The pesos reach your everyday account 1 to 2 days after you move the proceeds. GoTyme help centre, as listed on 2 October 2026If it has not arrived by then: raise it with GoTyme Go Crypto's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
For crypto still on Binance, the SEC urged users on 23 April 2024 to close their positions and move their crypto to their own wallets or to a provider registered in the Philippines (SEC press release). The GCash and Maya transfer fees for the pesos themselves are on the GCash and Maya fee pages.
Crypto in GCash, Maya and bank apps
Each app's crypto feature runs on a BSP-licensed VASP, as the app's own pages state:
The SEC named OKX, Bybit, MEXC, KuCoin, Bitget, Phemex, CoinEx, BitMart, Poloniex and Kraken as platforms that are accessible in the Philippines without SEC registration or a CASP licence, and said the list is not exhaustive. It said its enforcement may include cease and desist orders and requests to block websites and apps. SEC investor alert dated 1 August 2025, posted 4 August 2025
Binance, as of 2 October 2026: Binance is not open to Philippine users yet. On 29 May 2026 the SEC approved BlockShoals Technologies, a Philippine company in its sandbox, to test crypto services with Binance as its global partner. On 11 June 2026 the SEC said the first 90 days are technical set-up only, not public onboarding or trading, and that public onboarding needs further SEC approval. As of 2 October 2026 the SEC has not announced it. Binance in the Philippines.
Profit from crypto is taxable income in the Philippines. How the BIR treats it, which rates apply and what to keep for your records are on crypto tax in the Philippines. To estimate the tax, use the income tax calculator; if you are paid in crypto as a freelancer, see tax for freelancers.
Questions
Is crypto legal in the Philippines?
Yes. The BSP licenses companies to exchange and hold crypto (8 are licensed, BSP Verifier record updated 21 July 2026), and the SEC says its CASP Rules (SEC MC No. 4, s. 2025, in force since 5 July 2025) do not prohibit crypto trading or investment; they require platforms to register first (SEC advisory, 14 August 2025).
Which crypto exchange is best in the Philippines?
Start with the 8 BSP-licensed providers, since only they can legally exchange crypto and pesos here. Of the ones that publish an InstaPay cash-out fee, Coins.ph charges ₱5 and PDAX charges ₱15 per transfer (fee pages as listed on 2 October 2026).
How do I convert crypto to cash in the Philippines?
Sell it for pesos on a BSP-licensed provider, then withdraw the pesos to your bank or e-wallet. For example, Coins.ph charges ₱5 per InstaPay cash-out (Coins.ph help centre, as listed on 2 October 2026).
How do I cash out crypto to GCash?
In GCash, sell in GCrypto: the pesos go to the GCrypto Trading Wallet, and withdrawing to your GCash Wallet is free, up to ₱100,000 a month for Fully Verified users (GCash help centre, as listed on 2 October 2026). From Coins.ph or PDAX, sell for pesos and send them to your GCash number by InstaPay.
Which Philippine bank accepts cryptocurrency?
GoTyme Bank and UnionBank are the banks on the BSP list of licensed virtual asset service providers (BSP Verifier, record updated 21 July 2026).
Is GCash a cryptocurrency?
No. GCash is an e-wallet. Its crypto feature, GCrypto, runs on PDAX, a BSP-licensed VASP (GCash help centre, as listed on 2 October 2026).
Is Binance back in the Philippines?
Not for the public yet. Binance is the global partner of BlockShoals Technologies in the SEC sandbox, and any public onboarding needs further SEC approval, per the SEC on 11 June 2026.
Is crypto taxed in the Philippines?
Yes, gains from crypto are taxable income. The rules and rates are on our crypto tax guide.
Who licenses these providers
The BSP licenses crypto exchanges and wallets as virtual asset service providers under BSP Circular No. 1108, s. 2021; the SEC registers crypto-asset service providers under SEC MC No. 4, s. 2025, in force since 5 July 2025.
No exchange, wallet or bank pays to appear on this page or to change its order.
This page covers whether crypto is legal, who is licensed, and how cash-out works and costs. For a problem with a transaction, go to the provider first, then the BSP; to report an unregistered platform, the SEC at epd@sec.gov.ph; for tax on gains, the BIR or a tax adviser.
