How to Buy Ethereum in Philippines: Step-by-Step Guide for Beginners

Are you interested in cryptocurrency investing, but want an alternative to Bitcoin? Perhaps you’ve heard about Ethereum, but know no more about it than the name? This article is here to help. If you’re located in the Philippines and curious about purchasing Ethereum, this is the guide for you!

Intended for people in the Philippines interested in investing in Ethereum, it provides a comprehensive guide to buying Ethereum, covering its potential as an investment, along with steps for purchasing and sending Ethereum instantly. It also includes a FAQ (“frequently asked questions”) section for added clarity, and serves as a valuable resource for newcomers to cryptocurrency investment in the Philippines.

Let’s get going!

Is Ethereum a Good Investment?

Thanks to its smart contract capabilities and potential for decentralized applications, Ethereum has gained an impressive reputation that has cemented it as the world’s second-largest cryptocurrency, after Bitcoin.

Ethereum recently racked up some positive press regarding its environmental credentials: not always a common phrase when associated with the potentially less-than-sustainable requirements of minting crypto. After years of waiting, Ethereum last year implemented a notable network upgrade that alters how the blockchain verifies transactions, as well as mints new coins, and secures its network. This proof-of-stake approach reportedly reduces Ethereum’s energy consumption by upward of 99%.

But is it any good as an investment? Like any investment, Ethereum carries its fair share of risks, including market volatility. Make sure that you’re aware of the risks before you invest. No investment is guaranteed.

How Can Newcomers Buy Ethereum?

Buying Ethereum in the Philippines might seem overwhelming at first, but the process can be broken down into simple steps:

1. Select a Trustworthy Exchange/Wallet: Choose a reputable cryptocurrency exchange that operates within the Philippines. Well-known options like Saakuru App, Coins.ph, and PDAX are all excellent choices.
2. Register and Verify: Sign up on your chosen exchange and complete any required verification steps according to local regulations.
3. Initiate Your Order: Deposit funds into your exchange account using various methods, such as bank transfers, e-wallets, or cash deposits. Once your account is funded, place an order to buy Ethereum.
4. Confirm Your Purchase: After your order is executed, the Ethereum you’ve purchased will be credited to your exchange account or crypto wallet.

Purchasing Ethereum with Ease using a Debit Card

Buying Ethereum using a debit card offers a convenient option. Many exchanges support debit card transactions, making the process even simpler. Here’s a breakdown:

1. Choose a Reputable Exchange/Wallet: Opt for an exchange that allows Ethereum purchases with a debit card, just like Saakuru App in partnership with AlchemyPay.
2. Registration and Verification: Create an account on the chosen platform, complete the necessary verification steps, and link your debit card.
3. Add Funds: Navigate to the “Funds” or “Wallet” section on the exchange and select the option to add funds using your debit card.
4. Secure Your Ethereum: Once your debit card is linked and funds are added, select the amount of Ethereum you wish to purchase and confirm the transaction.

Understanding the Cost of Buying Ethereum

The cost of purchasing Ethereum fluctuates based on its current market value. In local exchanges, Ethereum’s value is quoted in Philippine Pesos (PHP). Keep in mind that you can buy fractions of Ethereum if the price is high! Also note that exchanges may charge transaction fees that impact the overall cost. AlchemyPay’s onramp enables users to purchase small amounts of cryptocurrency with a minimum of 1 USD.

How to Send Ethereum Instantly?

Sending Ethereum instantly requires only a few simple steps. Here’s a guide to help you through the process:

1. Access Your Wallet: Open your crypto wallet. If you don’t have one, choose a reputable wallet provider and set up an account like the Saakuru App wallet.
2. Navigate to Send: Look for the “Send” or “Send Ethereum” option within your wallet’s user interface.
3. Enter Recipient Address: Input the recipient’s Ethereum wallet address. Ensure the address is accurate, as cryptocurrency transactions are irreversible.
4. Enter Amount: Specify the amount of Ethereum you want to send. Some wallets also display the equivalent value in your local currency.
5. Review Details: Double-check the recipient’s address and the amount you’re sending. Verify all details before proceeding.
6. Transaction Fee: A transaction fee might be required depending on network congestion and wallet settings. This fee ensures that your transaction is processed promptly. Some wallets may automatically calculate the cost.
7. Authentication: Authenticate the transaction using your wallet’s security features, such as a PIN, password, or biometric verification. Once you’ve reviewed and confirmed the transaction details, initiate the send.
8. Transaction Confirmation: After confirming the transaction, the Ethereum will be sent from your wallet to the recipient’s wallet address. You might receive a confirmation notification.

Conclusion

Buying Ethereum in the Philippines is easier than ever, with numerous exchanges and platforms offering methods for purchasing this popular cryptocurrency. As noted, before you dive into the world of purchasing cryptocurrency, it is crucial to learn about cryptocurrency and its potential as an investment, along with the risks involved. We hope you found this guide on how to purchase Ethereum in the Philippines useful, and that it helps you to take practical steps to make a purchase in future. By following the steps outlined in this guide and conducting thorough research, you can navigate the process confidently and start your journey.

References

• https://cointelegraph.com/explained/what-are-the-risks-of-the-ethereum-merge
• https://www.binance.com/en