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How to Buy Crypto with Philtrust Bank in Philippines

Last updated on November 12, 2023

Quick Summary: While Philtrust Bank 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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Philtrust Bank Homepage

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

There are a large number of cryptocurrency exchanges 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 Philtrust Bank

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

1. Pick a cryptocurrency 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 crypto

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 Philtrust Bank.

Buy Crypto With eToro

About Philtrust Bank

Philtrust Bank, formally known as the Philippine Trust Company, is one of the oldest banks that are private universal within the Philippines. It was established on the 16th of October 1916, its story is in line with the development in the Philippine banking system. It’s the third institution to be set up in the Philippines following the Bank of the Philippine Islands and Philippine National Bank. It is one of the companies controlled by a Chinese-Filipino businessman Emilio Yap.

Philtrust Bank was established in 1916 as the first institution to be involved in trust business that was not in existence until the mid 1900s, despite the growing demand for guardianship and estate administration services. The bank was founded with one million capital stock authorized with half of the stock being due.

Following World War Two, the government via the Rehabilitation Finance Corporation infused fresh capital. The authorized capital stock of the bank was raised to P3 million. of which P2 million was repaid between shareholders who were already in the bank and the RFC.

Its main activities are the areas of investment and commercial banking. Philtrust offers international, domestic and trust services.

The domestic services it offers include the following: savings, checking, and money deposits. cash marketplace placements, corporate loan money transfer, remittances and collections, safe deposit services , and securities investments.

International transactions can include: travelers’ cheques foreign exchange, traveler’s cheque, Foreign Currency Deposit Unit transactions business letters of credit, international transfer, and collections.

They also offer trust management and operations, including trust placement as well as investment management, estate administration/ trustee of bond issue services for escrow, administration of savings and pension plans, insurance including transfer agent and stock registry services.