Cryptocurrency in the Philippines

Growing Interest in Cryptocurrency in the Philippines

When it comes to cryptocurrency, the Philippines is a country where interest and participation are steadily growing, but still far from mainstream adoption. It’s clear that most people are familiar with cryptocurrencies like Bitcoin and Ethereum, with a solid 70.7% of people acknowledging some level of awareness. Just over 14% say they have no familiarity at all, painting a picture of a population still in the learning phase, where the buzz around cryptocurrency has captured attention, but the general understanding remains a work in progress.

Many Filipinos Still Reluctant to Own Cryptocurrency

51.7% of respondents in the Philippines have tried owning or using cryptocurrency. But there’s a fairly large group who have never owned cryptocurrency. Even though many people have heard of it, they are not yet ready to try it. It’s also worth noting the small number who prefer not to disclose their involvement, perhaps hinting at the sensitive nature of crypto dealings for some individuals.

Curiosity About Crypto Growth, but Low Ownership Rates

Digging deeper into the attitudes towards cryptocurrency, about 45.7% of the population is interested in learning more, but haven’t yet bought any. This significant portion indicates a growing curiosity and awareness of cryptocurrency’s potential, suggesting that while many people understand the concept, they may still need more confidence, education, or market stability before investing.

Additionally, a smaller segment of respondents previously owned cryptocurrency but no longer do. This could signal various factors, such as market volatility, security concerns, regulatory uncertainty, or dissatisfaction with their experience. The presence of former owners highlights that while adoption is increasing, retention remains a challenge.

Mobile Wallets Lead in Storing Cryptocurrency

The way Filipinos are storing their cryptocurrency reveals a trend toward digital solutions, with a strong preference for mobile wallets and apps. Following closely are exchanges and payment services, indicating that some view crypto more as a form of payment rather than as a long-term investment. In contrast, physical devices like Ledgers are only used by 5.7%. While there is an interest in security, the convenience of mobile and exchange-based storage remains more appealing to the general public.

Bitcoin Dominates the Philippine Crypto Market

When it comes to specific platforms or exchanges, the results align with global trends—Bitcoin is by far the most widely used cryptocurrency. Ethereum follows second, while smaller altcoins like Dogecoin, Tron, Polygon, and even Axie Infinity each hold a marginal share.