This article explores the top digital currencies in the Philippines, highlighting their origins, uses, and significance in a largely unbanked society. It provides insights into Bitcoin, Ethereum, Binance Coin, and Shiba Inu, showcasing their role in shaping financial inclusion and investment trends across the country.

Discovering Leading Digital Currencies in the Philippines

Cryptocurrencies have become an essential part of modern financial landscapes, offering innovative ways to pay digitally and invest globally. In the Philippines, understanding the dominant cryptocurrencies is vital for local investors.

With around 40% of Filipinos holding some form of digital assets, the country stands among the top in adoption rates worldwide. Many young enthusiasts have even earned tokens through online gaming platforms.

As 75% of Filipinos remain unbanked, digital currencies and blockchain technology are bridging financial gaps. In 2019, Union Bank introduced PHX, the nation’s first crypto exchange linked to the peso to ensure stability.

Bitcoin (BTC)

Established in 2009 by Satoshi Nakamoto, Bitcoin is the leading digital currency that ignited the crypto revolution. Its decentralized nature offers lower transaction costs and security through blockchain verification. Despite volatility, Bitcoin remains the largest and most recognized crypto worldwide.

Ethereum (ETH)

Ethereum, launched in 2015 by Vitalik Buterin and Joseph Lubin, is a prominent blockchain platform known for its native token Ether. It enables smart contracts and decentralized applications (dApps), providing solutions where traditional banking is limited. Developers and investors mainly use Ether for building and investing in blockchain-based projects.

Binance Coin (BNB)

Created by Binance, one of the world's leading crypto exchanges, Binance Coin originated as an ERC-20 token on Ethereum but now operates on its own Binance Chain. Initially used for trading fee discounts, BNB now supports payments for transactions, travel, entertainment, and financial services. Binance processes over 1.4 million transactions per second under the leadership of Changpeng Zhao.

Shiba Inu (SHIB)

This meme-inspired coin on the Ethereum network was launched in August 2020 by an anonymous creator named Ryoshi. Featuring a Shibu Inu dog mascot, SHIB gained popularity after Elon Musk shared a photo of his Shiba Inu puppy, Floki, in October 2021. The vibrant community, SHIBArmy, actively promotes it as an alternative investment option.