Why Buy Bitcoin Through GCash?
GCash has become a popular financial tool in the Philippines, offering seamless digital transactions. With over 81 million users, it’s now a gateway to cryptocurrency purchases like Bitcoin. Buying Bitcoin through GCash is fast, convenient, and ideal for beginners looking to enter the crypto market without traditional banking hurdles.
Step 1: Set Up Your GCash Account
Before purchasing Bitcoin, ensure your GCash account is fully verified:
- Download the GCash app from Google Play or Apple App Store
- Register using your Philippine mobile number
- Complete identity verification with a valid government ID
- Enable GCash Wallet features
Step 2: Choose a GCash-Compatible Crypto Exchange
Top platforms supporting GCash transactions:
- Coins.ph – Direct GCash integration
- PDAX – Bangko Sentral ng Pilipinas-regulated exchange
- Binance P2P – Peer-to-peer marketplace
Step 3: Link GCash to Your Chosen Exchange
- Create an account on your selected platform
- Complete KYC verification
- Navigate to payment methods
- Select ‘GCash’ as deposit option
- Authorize the connection
Step 4: Purchase Bitcoin via GCash
- Fund your exchange wallet using GCash
- Navigate to Bitcoin trading section
- Enter purchase amount (minimum ₱100)
- Confirm transaction details
- Complete 2FA verification
Safety Tips for Bitcoin Transactions
- Enable GCash transaction PIN
- Use exchanges with BSP registration
- Never share OTPs or MPINs
- Start with small test transactions
- Transfer crypto to private wallets after purchase
Frequently Asked Questions
Q: Are there purchase limits using GCash?
A: Yes. GCash imposes daily transaction limits up to ₱100,000 for fully verified users.
Q: How long do Bitcoin purchases take?
A: Transactions typically process within 15-30 minutes during business hours.
Q: Is buying Bitcoin through GCash legal?
A: Absolutely. The BSP recognizes GCash as an authorized remittance agent and virtual currency exchange.
Q: What are the fees?
A: Expect 1.5-2% fees from exchanges plus potential network charges.
Q: Can I sell Bitcoin through GCash?
A: Yes – most exchanges allow converting Bitcoin to pesos and withdrawing to GCash.
By following this guide, Filipinos can safely use GCash to enter the cryptocurrency market. Always stay updated on platform policies and market conditions before trading.
