Why Buy Bitcoin Through GCash?
GCash has become a go-to digital wallet for Filipinos, offering seamless financial services like bills payment, fund transfers, and even cryptocurrency purchases. Buying Bitcoin through GCash is fast, convenient, and ideal for beginners looking to enter the crypto market. This guide walks you through the process, ensuring a secure and hassle-free experience.
Step 1: Choose a Crypto Exchange That Supports GCash
Not all platforms allow Bitcoin purchases via GCash. Here are popular Philippines-friendly exchanges:
- PDAX: A local exchange regulated by the Bangko Sentral ng Pilipinas (BSP).
- Coins.ph: Allows direct Bitcoin purchases using GCash balance.
- Binance: Supports GCash deposits via third-party payment gateways.
Step 2: Create and Verify Your Account
- Sign up on your chosen exchange using your email or mobile number.
- Complete KYC verification by submitting a valid ID (e.g., passport, driver’s license).
- Wait for approval (usually within 24 hours).
Step 3: Link GCash to Your Exchange Account
- Navigate to the exchange’s ‘Deposit’ or ‘Funds’ section.
- Select ‘GCash’ as your payment method.
- Enter the amount and confirm the transaction via the GCash app.
Step 4: Buy Bitcoin
- Go to the exchange’s ‘Buy Crypto’ page.
- Select Bitcoin (BTC) and input the amount in PHP or BTC.
- Review fees and confirm the purchase. The Bitcoin will reflect in your exchange wallet.
Step 5: Secure Your Bitcoin
Never leave crypto on exchanges long-term. Transfer it to a secure wallet:
- Hardware wallets (e.g., Ledger, Trezor) for large holdings.
- Software wallets (e.g., Trust Wallet, Exodus) for smaller amounts.
FAQ: Buying Bitcoin via GCash
Is buying Bitcoin through GCash safe?
Yes, if you use BSP-regulated exchanges like PDAX and enable two-factor authentication (2FA) on your accounts.
What are the fees?
Fees vary by platform. PDAX charges 0.5%–1.5% per transaction, while Coins.ph may include spread markups.
How long does a transaction take?
GCash deposits are instant. Bitcoin purchases usually complete within minutes.
Can I sell Bitcoin and cash out via GCash?
Yes! Most exchanges allow you to sell BTC and withdraw PHP directly to your GCash wallet.
Are there transaction limits?
GCash imposes daily limits (up to ₱100,000 for fully verified users). Exchanges may have separate limits based on your account tier.
Final Tips
Start with small amounts to test the process. Monitor Bitcoin’s price trends using apps like CoinGecko, and never share your wallet’s private keys. With GCash, investing in Bitcoin has never been easier—follow these steps to join the crypto revolution today!
