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How to Buy Crypto with Rizal Commercial Banking Corporation in Philippines

Last updated on November 12, 2023

Quick Summary: While Rizal Commercial Banking Corporation 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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Rizal Commercial Banking Corporation Homepage

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

Thankfully there are many crypto trading platforms to pick from that allow you 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 RCBC

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 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 Rizal Commercial Banking Corporation.

Buy Crypto With eToro

About Rizal Commercial Banking Corporation

The Rizal Commercial Banking Corporation (RCBC) (simplified Chinese: Zhong Hua Yin Xing and traditional Chinese: Zhong Hua Yin Xing and pinyin: Zhonghua Yinhang; Peh-oe-ji Tiong-hoa Gunhang) is among the biggest general banks operating in the Philippines with consolidated assets totalling Php 959 billion. It was founded in 1960 as a development banking institution and is authorized to operate by Bangko Sentral ng Pilipinas (BSP) for both investment and commercial banking.

RCBC is owned by Yuchengco Group of Companies (YGC) which is one of the largest and oldest conglomerates within Southeast Asia covering over 60 companies, including the insurance company that is not life, Malayan Insurance, a life insurance company that is a joint venture of the company together with Sun Life Financial Philippines, SunLifeGREPA Financial, Inc. The building firm EEI Corp.; educational institutions; and car dealerships.

Other investors who are significant to this bank are The International Bank’s International Finance Corporation, Cathay Life Insurance Co., Ltd. It is an entirely owned affiliate to Cathay Financial Holding, Ltd as well as CVC Capital Partners. RCBC issue its first US dollar sustainable bonds. RCBC offers VISA, Mastercard, JCB as well as UnionPay credit card through RCBC Bankard.