How to Buy Tether (USDT) in the Philippines

Can I Buy Tether (USDT) in the Philippines?

Yes, you can purchase Tether (USDT) in the Philippines via regulated cryptocurrency exchanges. These platforms comply with guidelines established by the Bangko Sentral ng Pilipinas (BSP) and accept deposits in Philippine Peso (PHP). Typical funding methods include bank transfers, GCash, PayMaya, and debit cards, allowing you to exchange PHP for USDT.

‍

How to Buy USDT in the Philippines

To purchase Tether (USDT) in the Philippines, consider using a reliable exchange like Bybit, which accepts Philippine Peso (PHP) deposits through various methods, including bank transfers, GCash, and PayMaya. Bybit is a reputable platform with over 25 million users globally and offers access to over 1,200 digital assets.

Here’s a quick guide to buying USDT on Bybit in the Philippines:

1. Create an Account: Sign up on the Bybit platform and verify your account.
2. Deposit PHP: After logging in, deposit Philippine Peso using your preferred method.
3. Locate USDT: Navigate to the trading section and find the USDT/PHP trading pair.
4. Purchase USDT: Enter the amount of PHP you want to convert to USDT and complete the transaction.

‍

PHP to USDT Fees

When converting Philippine Peso (PHP) to Tether (USDT), it’s important to understand the associated fees. These typically include deposit, trading, and withdrawal fees, which vary by exchange, often falling between 0.1% and 0.5% for trading.

Bybit offers a competitive solution for Filipino users, with trading fees starting at just 0.1% and high liquidity for efficient transactions. The platform supports fee-free PHP deposits, making it a more cost-effective choice than other exchanges like Coinbase, where fees can be as high as 2%.

‍

Is USDT Legal in the Philippines?

Yes, Tether (USDT) can be legally owned, purchased, and traded in the Philippines, although it is not considered legal tender. The Bangko Sentral ng Pilipinas (BSP) oversees cryptocurrency activities, including stablecoins like Tether.

The government has advised caution regarding cryptocurrency investments. However, trading and holding USDT is allowed. For safety and compliance, it's best to use exchanges that follow BSP regulations and enforce Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols.

‍

Bottom Line

In summary, purchasing Tether (USDT) in the Philippines through regulated exchanges like Bybit is legal and practical. Bybit supports PHP deposits via bank transfers, GCash, and PayMaya, and offers low trading fees starting at 0.1%. 

Following BSP regulations, these platforms ensure a secure and compliant trading environment, making it easier and more efficient to trade USDT in the Philippines.