Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
If you trade digital assets in the Philippines, you’ve probably heard of cryptocurrency wallets. A cryptocurrency wallet is a program used to send, receive, and store digital assets like Bitcoin.
The best crypto wallets in Philippines are easy to set up, offer multiple crypto support, and are secured with high-end security infrastructure. This guide explores the top wallet options and why they stand out.
The Best Crypto Wallets Philippines Ranked There are hundreds of Bitcoin wallets available currently, and while they all perform the same fundamental operations, they are not all made equal. To assist our readers in navigating this terrain, we’ve written comprehensive reviews of the best crypto wallets in Philippines. Crypto.com – Overall Best Crypto Wallets in Philippines
– Overall Best Crypto Wallets in Philippines Capital.com – Best Bitcoin Wallet in Philippines for CFD Traders
– Best Bitcoin Wallet in Philippines for CFD Traders Binance – Best Bitcoin Wallet in Philippines for Low Fee Trading
– Best Bitcoin Wallet in Philippines for Low Fee Trading Coinbase – Crypto Wallet in Philippines with User-Friendly Interface
– Crypto Wallet in Philippines with User-Friendly Interface Trust – Top Crypto Wallet for Versatility
– Top Crypto Wallet for Versatility Ronin – Best Cryptocurrency Wallet For NFT Games
– Best Cryptocurrency Wallet For NFT Games Abra – Crypto Wallet for Earning Interest
Cryptoassets are a highly volatile unregulated investment product.
The Best Bitcoin Wallets Philippines Reviewed
Here’s an in-depth look at the top crypto wallets in the Philippines. This review explains features, fees, and how each one stacks up:
1. Crypto.com DeFi Wallet – Overall Best Crypto Wallets in Philippines
Our number one pick for the best crypto wallet in Philippines is the Crypto.com DeFi Wallet.
This wallet was built by Crypto.com – one of the most prominent cryptocurrency exchanges in the market, operating with a licence from the Malta Financial Services Authority (MFSA). Crypto.com allows investors to buy Bitcoin and some of the best altcoins with ease. The platform also features one of the best crypto apps in the market – which is regularly used by investors to buy, sell, and earn interest on their cryptocurrencies. While the Crypto.com exchange has a standard crypto wallet, which is custodial in nature, the exchange’s DeFi wallet was designed for users who want more control.
The Crypto.com DeFi Wallet is a self-custodial wallet, which means investors have control of their private keys. Since the wallet is decentralised in nature, investors are not required to verify their identity during registration.
The wallet supports over 100 traditional cryptocurrencies and stablecoins, allowing you to easily transact and store them. Transactions are entirely free, although you will need to pay network fees since transactions are on-chain. Crypto.com’s DeFi Wallet also includes cryptocurrency staking and swapping features.
The security provided in this wallet is quite impressive. This wallet offers two-factor authentication (2FA), biometric authentication technology, and a secure passcode to protect against inappropriate access. There’s also a 12-word recovery phrase available to you in case you lose access to an old wallet or want to switch devices.
Furthermore, our top pick for the best Bitcoin wallets in Philippines allows you to import your cryptocurrencies from other wallets. So, if you have an existing wallet on an app like Ledger or MetaMask, you can import your existing wallet to the Crypto.com DeFi Wallet.
Pros: Easy access to dApps
Easy access to dApps Suitable for both novice and experienced traders.
Suitable for both novice and experienced traders. Easy integration with Crypto.com account Cons: Lengthy wallet recovery process
Supported Coins Fee Structure Bitcoin Sending Fee Mobile App? 100 None None Yes (Android, iOS)
Cryptoassets are a highly volatile unregulated investment product.
2. Capital.com – Best Bitcoin Wallet in Philippines for CFD Traders
Capital.com’s wallet is another wallet contending for the best cryptocurrency wallet in Philippines spot. The wallet has become quite popular among crypto investors.
Capital.com has been operating since 2016, and it works with licenses from the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and many more regulators.
This wallet is the best crypto wallet in Philippines for storing contracts for difference (CFDs). CFDs are derivatives that allow you to buy and sell an asset at a specific price and time in the future, and they are the primary crypto offering on Capital.com. As Capital.com offers crypto CFDs, you won’t own any of the underlying tokens if you decide to invest in cryptocurrency.
With the Capital.com wallet, you get benefits such as ease of use and free asset CFD transfers. Security is also top-notch here, with Capital.com encrypting data with Transport Layer security and using 2FA to restrict unauthorised access.
Since Capital.com’s wallet is a custodial wallet, the exchange controls your keys and is saddled with the responsibility of keeping your funds safe. To this effect, Capital.com runs a compensation scheme that seeks to reimburse investors in the event of a security breach on the platform.
Capital.com takes the security of its customers’ funds seriously. The CFD broker partners with prominent banks in Europe to safely store the funds of their customers in segregated accounts different from the company funds.
Pros: Suitable for leveraged crypto traders
Suitable for leveraged crypto traders Superb mobile app for Android and iOS
Superb mobile app for Android and iOS Investor compensation in case of hacks Cons:
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Best Bitcoin Wallet in Philippines for Low Fee Trading
Binance is the world’s largest crypto exchange by trading volumes. Operating in over 100 countries, the broker has an operating license from Dubai’s Virtual Asset Regulatory Authority (VARA) and in several other regions.
The exchange also offers one of the best Bitcoin wallets in Philippines, allowing anyone with an account to easily send, receive, and store crypto assets.
This best Bitcoin wallet in Philippines supports over 600 coins easily, but it’s a custodial wallet, meaning that Binance controls the private keys to the wallet. Transactions with the wallet are entirely free, and you can even conduct transactions with assets that exist on multiple networks. You can also store non-fungible tokens (NFTs) on the wallet, making it even more versatile.
Binance secures customers’ funds using secure cold storage – where a vast majority of customer crypto funds are stored offline. The exchange also uses advanced data encryption protocols, real-time monitoring, and other security protocols to mitigate security breaches on the platform. The exchange also runs a Secure Asset Fund for Users (SAFU) as an insurance fund to safeguard users’ interests on the platform. The fund is valued at $1 Billion.
Pros Incorporates cold wallet storage
Incorporates cold wallet storage Supports an extensive inventory of crypto assets
Supports an extensive inventory of crypto assets Supports NFT storage
Supports NFT storage Insurance fund Cons Not suitable for beginners
Cryptoassets are a highly volatile unregulated investment product.
4. Coinbase – Crypto Wallet in Philippines with User-Friendly Interface
Coinbase is one of the world’s top exchange platforms, operating with oversight from the U.S Financial Crimes Enforcement Network (FinCEN) and the Financial Conduct Authority (FCA) in the UK. This Coinbase Wallet is one of the best bitcoin wallets in Philippines. The wallet provides more than just storage and transactions.
Like the exchange, the Coinbase Wallet comes with an easy-to-use build that works great for beginners. This wallet supports over 44,000 coins, allowing you to obtain a diverse number of assets and transact without paying any fees making it the best Bitcoin wallet in Philippines for asset diversity. So, if you buy XRP on the main Coinbase platform or a different exchange, you can easily transfer your crypto assets to the Coinbase wallet for safe storage.
How can I be a millionaire in 5 years?
9 Steps To Become a Millionaire in 5 Years (or Less) Create a Plan. Employer Contributions. Ask for a Raise. Save. Income Streams. Eliminate Debt....
Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
The Coinbase Wallet also allows you to store NFTs and blockchain tokens, so you have a one-stop solution for all your crypto storage needs. This wallet incorporates 2FA, confirmation requests, and multi-signature functionalities. With so much versatility, this is surely one of the best Bitcoin wallets in Philippines with a user-friendly setup.
Pros
Best suited for crypto newbies
Best suited for crypto newbies Supports NFT storage
Cryptoassets are a highly volatile unregulated investment product.
5. Trust – Top Crypto Wallet in Philippines for Versatility
Trust Wallet is one of the best Bitcoin wallets in Philippines built by a native wallet developer. This crypto wallet is a self-custody wallet that doesn’t hold customers’ private keys or store their private data on its servers. Since it’s a decentralised wallet, you don’t need to go through any elaborate know-your-customer (KYC) process to use the TrustWallet. This feature places the storage facility on par with the best cryptocurrency wallet in Philippines.
The Trust crypto wallet has a simple user interface. This wallet is compatible with both iOS and Android devices.
Trust wallet supports the storage of over 1 million assets, including Bitcoin, Ethereum, and other crypto tokens. Also, Trust Wallet can be used to store NFTs and features a crypto staking option.
Investors can buy Bitcoin with credit card to earn interest on their crypto holdings. Crypto users can buy crypto with fiat on Trust wallet through a number of third parties like Mercury and MoonPay. You can also swap coins and integrate with other decentralised apps (Apps) like PancakeSwap without leaving the wallet.
Pros
Supports a vast range of cryptocurrencies
Supports a vast range of cryptocurrencies Setup and use are free and easy
Setup and use are free and easy Trust crypto and bitcoin wallet comes with a Web3 browser Cons
6. Ronin – Best Cryptocurrency Wallet in Philippines For NFT Games
Play-to-earn games have become especially important for their ability to help you make money while playing the games you love. However, like everything crypto-related, you need a secure wallet to store your tokens.
Ronin Wallet was built by Sky Mavis – the same company behind the popular Axie Infinity game. The wallet is available as a mobile app or browser plug-in, and it allows you to enjoy easy access to blockchain games and other dApps.
Primarily, the Ronin Wallet allows you to optimise Axie Infinity’s benefits and awards. However, you can also store other assets – including USDC, Wrapped Ether (WETH), and Smooth Love Potion (SLP). You can store seven assets in total with the Ronin Wallet and enjoy free transactions.
Pros
Best wallet service for gaming
Best wallet service for gaming Available on desktop and smartphone.
Available on desktop and smartphone. Supports Axie Infinity NFTs Cons
7. Abra Digital Wallet – Crypto Wallet for Earning Interest
Abra is a cryptocurrency exchange and custodial wallet. Founded in 2015, the service is registered as a money services business with the Financial Crimes Enforcement Network (FinCEN).
The Abra wallet rounds up our list of the best crypto wallets in Philippines. It supports over 30 cryptocurrencies, providing fee-free transactions and a simple user interface that anyone can understand and get used to. You can also store up to 50 fiat currencies here.
As with some of the other wallets reviewed here, the Abra wallet easily integrates with the Abra exchange.
Access to all of the company’s features – including Abra Trade, Abra Earn, and Abra Borrow – is at the tap of a button. With the opportunity to earn interest on your wallet balance, the Abra Digital Wallet is one of the best Bitcoin wallets in Philippines for passive investors.
Pros User-friendly interest
User-friendly interest Supports fiat currency storage
Supports fiat currency storage Can earn interest on crypto or USD stablecoins Cons No clarity regarding the exact exchange spread rates.
Supported Coins Fee Structure Bitcoin Sending Fee Mobile App? 30 None None None
The Top Philippines Crypto Wallets Compared
Below is a brief summary of the best Bitcoin wallets in Philippines and what they offer you:
Wallet Supported Coins Fee Structure Bitcoin Sending Fee Mobile App? Crypto.com DeFi Wallet 100 None None Yes (Android, iOS) Capital.com 12 None None Yes (Android, iOS) Binance Wallet Over 500 None None None Coinbase Wallet Over 44,000 None None Yes (Android, iOS) Trust Wallet Over 160 None None Yes (Android, iOS) Ronin 7 None None Yes (Android, iOS) Abra Digital Wallet 30 None None None
What Is a Crypto Wallet?
A cryptocurrency wallet is a digital storage mechanism for cryptocurrencies. Crypto wallets are different from traditional wallets because cryptocurrencies are not physical assets. A crypto wallet stores two things – your private key and public key/address.
A public key is similar to a regular bank account and works just like one. It is a long alphanumeric mix that you send to another user who wants to transfer digital assets to you.
On the other hand, a private key is designed similarly to a bank PIN. Comprising unique cryptographic numbers and letters, a private key gives access to a user’s crypto assets, which are stored in their respective blockchain networks.
When it comes to cryptocurrencies, whoever controls the private keys, controls the coins. In this regard, we have two categories of crypto wallets.
We have custodial and non-custodial wallets. The custodial wallets are often owned by digital trading platforms or exchanges. They take responsibility for safeguarding your crypto funds by providing a crypto wallet that’s in their custody.
There are many benefits to using custodial wallets. They are easy to manage. You can easily reset your password if you lose access to your device. Furthermore, most custodial wallets are built with an exceptional user experience. However, the downsides are many. For one, you don’t have total control of your funds. Your custodian can wake up one day and freeze your funds, if they want. You’re also required to provide adequate KYC and anti-money-laundering rules before accessing the service. Lastly, you’re often required to connect to the internet before you can access your wallet.
The other category of crypto wallets are called non or self-custodial wallets. These types of wallets, like our recommended Crypto.com DeFi Wallet, don’t require you to trust a custodian with the safety of your funds.
You have full control of your private keys. Since you control the safety of your funds, non-custodial wallets offer faster transactions. There are non-lengthy KYC/AML checks before a transaction is sanctioned.
On the flip side, funds stored in non-custodial wallets are hard to recover in the case of missing keys. You can’t just reset your password as you would with a custody wallet. Once you lose access to your private keys, you’ve lost your funds. This is why it’s always advisable to backup your mnemonic phrase in a safe place once you set it up. There are multiple ways to do this. You can use seed splitting, a process of separating your mnemonic phrase into several sections and storing each section separately. This can be done virtually or physically.
Why You Need a Bitcoin Wallet
When should you throw salt?
Spilling salt is bad luck. If you spill salt, prepare to be cast into eternal damnation – or something like that. Fortunately, you can reverse this...
The most crucial reason you need a Bitcoin wallet is the storage of your coins. Crypto hacks are prevalent in the market today. A total of $14 billion was stolen from the industry in 2021 alone. With the best Bitcoin wallet for you, you can ensure the security of your coins.
Besides the safeguarding of your digital assets, owning a Bitcoin wallet can allow you to unlock more utility for your blockchain assets.
A growing number of businesses and organisations allow users to pay for goods and services using cryptocurrencies. Using a Bitcoin wallet can make the process of transferring from an exchange infinitely more convenient and satisfactory. With the advent of lightning payments – which offer faster and cheaper Bitcoin payments – having a Bitcoin wallet would make it easier to make payments.
Additionally, a crypto wallet allows users to make cross-border transfers or payments easily. This can be especially useful if the recipient lacks access to traditional banking services or is in a region under strict financial protocols. They can easily access much-needed funds without any hassles.
Meanwhile, a number of crypto wallets allow users to access yield-generating opportunities. For instance, the Crypto.com DeFi Wallet allows users to tap into the decentralised finance (DeFi) ecosystem. Users can earn passive income from over 35 top-performing coins with no lock-up periods.
So whether you’re looking to store your crypto winnings from the best Bitcoin casinos in the Philippines or just looking for a safe space to keep your digital assets the best crypto wallets are the most secure options.
Types of Crypto Wallets
Before selecting the best wallet for cryptocurrency, you should understand the different wallets available to you. Principally, these are the options available:
Software Wallets
These wallets are also known as hot wallets and are similar to your online bank account. Keys are kept in an app or software. This enables sending, receiving, and utilising your cryptocurrency as simple as using an online bank account, payment system, or brokerage account.
Software wallets are divided into mobile and desktop wallets.
A mobile crypto wallet is a vital tool for Bitcoin users to pay for items in stores or perform face-to-face exchanges daily. It runs as a smartphone app, keeping the private keys and allowing you to pay, trade, and store crypto with your phone. Furthermore, some apps use the smartphone’s near-field communication (NFC) function, which allows users to tap their phone against a terminal without providing any information.
Desktop wallets are typically downloaded and installed on your computer, with the private keys stored on your hard drive or solid-state drive (SSD). They are more secure than online and mobile wallets, as they do not rely on third parties for data, thereby making them more challenging to hack.
Generally, software wallets tend to be susceptible to attacks. Therefore, it is crucial to ensure that your device is free of malware.
Hardware Wallets
Cold wallets or cold storage are devices that save your keys offline on a device not connected to the internet. Many standard cold crypto hardware wallet devices resemble USB drives.
Most hardware wallets contain screens that can be used to verify and show important wallet details, adding another layer of protection. A screen, for example, can generate a recovery phrase and validate the amount and location of the payment you want to make.
Crypto enthusiasts often regard cold storage as the gold standard for safeguarding digital assets. This is because crypto hardware wallets are the most difficult to exploit because of their offline nature. However, these wallets aren’t the best for making on-the-go transactions due to their cold storage systems.
Paper Wallets
A paper wallet is a tangible document with a public address for accepting Bitcoin and a private key for spending or transferring crypto held at that address. Paper wallets are frequently printed with QR codes so that you can scan them and upload the keys to a software wallet or wallet app to complete a transaction rapidly.
Services that allow users to generate a random Bitcoin wallet address with its private key can be used to construct a paper wallet. The generated keys can then be printed using services that offer tamper-resistant designs or even holographic labels.
The real benefit of a paper wallet is that the keys are stored offline, making it highly resistant to and entirely immune to hacking attacks. However, paper wallets can be easily misplaced.
How to Get a Bitcoin Wallet in the Philippines
The following steps will show you how to obtain a crypto wallet app in a matter of minutes.
Step 1: Set Up Crypto.com Account
To get started, begin by signing up to Crypto.com website and mobile app. The Crypto.com wallet app can be found in all mobile app stores. To use the wallet, simply provide your email address and phone number.
Step 2: Create Your Wallet
Open the mobile app and click on the ‘Create a new wallet’ icon to kickstart your journey. Follow the on-screen prompts and insert a unique six numbered PIN. You can also set a biometric login option if you choose and authenticate the app for 2FA with the Google Authenticator.
Step 3: Backup Your Phrase
Crypto wallets usually come with a backup phrase. This 12 or 24 randomly-generated word phrase is a form of recovery key in the event you can’t access your wallet easily. Write them out and store them in a safe place before proceeding to the next stage.
Step 4: Store Your Digital Asset
Once the backup stage is complete, you can proceed to set an avatar in the form of a JPEG image. Select an avatar, and click on ‘Next’ to open the Crypto.com DeFi Wallet interface. If you want to receive digital assets, click on the ‘Receive’ button and copy the wallet address specified. Paste the address on the relevant platform, and your transaction is completed within minutes.
Conclusion
Cryptocurrency wallets are crucial for investors in the Philippines. Bitcoin wallets provide an easy-to-use interface for customers to interact with the blockchain. Choosing the best crypto wallet in Philippines is essential for any investor who intends to buy, trade, or store cryptocurrency. We recommend the Crypto.com DeFi Wallet as the best wallet for investors in Philippines.
The Crypto.com DeFi Wallet is highly intuitive and easy to use. The wallet is also self-custodial, meaning the investor has total control over the private keys. Crypto.com’s wallet supports the storage of over 80 assets. The wallet also comes with additional features such as crypto farming, swapping, and staking capabilities for investors.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Awaken your dormant DNA ability to attract wealth effortlessly
The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.
Affluent Savvy
Photo: Lukas
Promotion