Top Digital Currencies Popular in the Philippines

Discover the most popular cryptocurrencies in the Philippines, including Bitcoin, Ethereum, Binance Coin, and Shiba Inu. Learn how these digital currencies are transforming the financial scene and offering new opportunities for Filipino investors. The country’s growing adoption and innovative blockchain initiatives highlight its emerging role in the global crypto market.

Top Digital Currencies Popular in the Philippines

Cryptocurrencies have gained immense popularity as a modern investment option. They enable digital payments for purchasing goods and services and are accessible worldwide. In the Philippines, understanding the local cryptocurrency landscape is crucial for investors.

With 40% of Filipinos owning some form of digital currency, the country is among the fastest adopters globally. Many young investors have even earned tokens through online gaming.

Due to the fact that 75% of Filipinos lack bank accounts, cryptocurrencies and blockchain technology are serving as financial bridges. In 2019, Union Bank launched PHX, the nation's first crypto exchange, pegged to the Philippine peso to ensure parity.

Bitcoin (BTC)

Created in 2009 by Satoshi Nakamoto, Bitcoin is a leading cryptocurrency that sparked the rise of many alternative coins. It features lower transaction costs compared to traditional methods, thanks to its decentralized operation. Bitcoin transactions are verified via mining and recorded on a secure, encrypted public ledger. Despite its volatility, Bitcoin remains the largest digital currency in the world.

Ethereum (ETH)

Ethereum, known for its native token Ether, is a prominent blockchain platform launched in 2015 by Vitalik Buterin and Joseph Lubin. It enables the development of smart contracts and decentralized applications (dApps) without third-party control, offering solutions to global financial needs, especially in countries with limited banking infrastructure. Ether is primarily used by developers and investors for creating applications or investing in other cryptocurrencies.

Binance Coin (BNB)

Developed by Binance, one of the world's largest cryptocurrency exchanges, Binance Coin started as an ERC-20 token on Ethereum but now runs on its own Binance Chain. Initially designed to provide discounts on trading fees, BNB's functionality now includes payments for transaction fees, travel bookings, entertainment, and financial services. Binance was founded by Changpeng Zhao and handles over 1.4 million transactions per second.

Shiba Inu (SHIB)

This Ethereum-based meme coin was launched in August 2020 by an anonymous creator known as Ryoshi. Its mascot is a Shibu Inu dog. Similar to Dogecoin, SHIB was created more as a joke, but its popularity surged after Elon Musk posted a picture of his Shiba Inu puppy, Floki, in October 2021. The community known as SHIBArmy actively promotes this altcoin as an alternative crypto investment.