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How to Buy Crypto with Bank of the Philippine Islands in Philippines

Last updated on December 10, 2023

Quick Summary: While Bank of the Philippine Islands does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Philippines cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.


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Bank of the Philippine Islands Homepage

As mentioned in my quick summary, like most Philippines banks, Bank of the Philippine Islands doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency trading platform and comes with regulations and extra work for the banks.

There are a large number of crypto trading platforms that you can use to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with BPI

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy cryptocurrency

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Bank of the Philippine Islands.

Buy Crypto With eToro

About Bank of the Philippine Islands

Bank of the Philippine Islands (Filipino: Bangko ng Kapuluang Pilipinas, Spanish: Banco de las Islas Filipinas, also known as BPI (PSE: BPI) is a universal bank located in the Philippines. This is the very first bank to be established in both the Philippines as well as Southeast Asia. It is the fourth-largest bank by assets, and is the second biggest bank by market capitalization and is also one of the top-performing institutions in the Philippines.

The bank operates a network of more than 900 branches across Europe, the Philippines, Hong Kong and Europe plus over 3,000 ATMs as well as CDMs (cash deposit machines).

BPI was established during the Spanish colonial period in the Philippines as El Banco Espanol Filipino de Isabel II. It gave credit for the National Treasury and printed and issued the Philippine peso fuerte. It was an early precursor to the present-day Philippine peso.

Since the 70s BPI is involved in numerous deals and mergers. The first merger was in 1974 when BPI acquired from the People’s Bank and Trust Company. Some noteworthy purchases include Commercial Bank and Trust Company in 1981, CityTrust Banking Corporation in 1996, Far East Bank and Trust Company in 2000, Prudential Bank in 2005 and BPI’s subsidiary BPI Family Savings Bank in the beginning of 2022.

The year 1982 was when BPI was made a global bank. It was then, in 2000 was named the Philippines first bank assurance company as the initial Philippine bank to provide insurance services following the acquisition of insurance firms belonging to the Ayala Corporation, the parent company of the Ayala Corporation. The same time, BPI also founded the BPI Direct Savings Bank, which is an Internet bank.