To start Cryptocurrency here in the Philippines. These steps are the basics.
- Sign up for a cryptocurrency exchange (Coins.PH, Binance, Coinbase, etc.)
- Submit your details for verification
- Create your cryptocurrency wallet if a wallet has not been automatically created
- Submit your funds into your account/deposit funds into your new cryptocurrency wallet
As a beginner , you have to sign up in a cryptocurrency exchange whether on local or international. After signing up , you have to submit your details(some are personal) , fund your account. Only then you will be able to buy and sell cryptocurrencies.
Though exchanges operates slightly different, mastering the basics of it is crucial.
Looking at how to invest in cryptocurrency Philippines, the cryptocurrency you wish to buy may impact the currency exchange. For example, Coins.PH is an authentic and well-known website for cryptocurrency customers in the country, but it has limited features. It only allows you to purchase popular cryptocurrencies. So, in short , if you want to have or purchase brand new exchange cryptos , you have to sign up to other exchanges unless you are already content with what Coins.PH offers.
When looking at the best Bitcoin wallet in the Philippines, try different cryptocurrency exchanges. There are several options to choose from when you are looking to invest in Bitcoin in the country:
- Coins.PH -According to support coins, Coins.ph is safe and trusted by over 10 million customers. Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) as a licensed Virtual Currency Exchange, Electronic Money Issuer (EMI), and Remittance and Transfer Agent (RA)
- CoinBase– Wikipedia states that is an American company that operates a cryptocurrency exchange platform. Coinbase operates remote-first, and lacks an official physical headquarters
- Binance– operates the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume.
- Etoro– is an Israeli social trading ;
- Bitpanda-Austrian company trading platform
- Paybis– UK-based cryptocurrency exchange, founded in 2014.
- Kraken -is a United States-based cryptocurrency exchange and bank
The list above includes the most popular and most trusted exchanges worldwide.
Cryptocurrency trading is no difference from any other tradeable asset. But , as it’s a form of digital currency, cryptocurrency trading in the Philippines is traded effortlessly online, often through cryptocurrency exchanges.
Numerous exchanges are operating in the Philippines, but some have a mixture of reviews. Also there have been several reports of potential scams.
Thus the most recommended site that is Philippines based is Coins.PH mainly because it is the most accessible and easy to set up.
