You can sign up using the PH one, and yes, people can still send you money if PayPal has you greenlit, which reading that snippet states that you can. Just set your account to receive money. (Since I see that's one of your options.)
If people send you money, regardless of the type of currency, PayPal will automatically convert it for you, if that's what you're worried about. And if you send money to someone else, they'll convert it to whatever currency they prefer before you send it as well.
PayPal is pretty OP.