Apr 10, · The Philippines is catching up to Japan with a growing number of approved cryptocurrency exchanges. The central bank has green-lighted 10 . May 06, · Buy and hold it like an investment – you can buy BTC with your cash and store in either in e-wallets or digital wallets like CoinsPH, Abra, or BSP regulated exchanges like PDAX, Citadax and feuerwehr-matzenbach.de Bitcoin’s all-time high of almost $20, USD (about P1 million) was in December Feb 07, · The Philippines has many places you can buy bitcoin from. Not only has the Bangko Sentral ng Pilipinas licensed some cryptocurrency exchanges, but there are also peer-to-peer marketplaces, bitcoin.
Best site to buy bitcoin in philippines4 Major Ways to Buy and Sell Bitcoin in the Philippines - Pinay Teenvestor
So where can you buy and sell bitcoin in the Philippines? There are actually four gateways where you can do that:. In P2P exchanges, you t ransact directly with an online peer that buys or sells bitcoin.
You can settle transactions on the payment method you agree upon such as:. To ensure your protection against scammers, you are protected by an escrow. Think of escrow as insurance. If the seller runs away with your money without releasing the bitcoins, you will still get your bitcoins from escrow.
Just make sure you have your proof of payment with you. A cryptocurrency wallet is not only good for buying and selling bitcoins but also in storing them.
You can download crypto wallets freely. But before doing any transactions, you have to undergo a KYC procedure. The following are the widely available options for you to fund or cash out in your crypto wallet:. Unlike cryptocurrency wallet apps, crypto exchange platforms offer more cryptos to exchange other than bitcoin. The price of bitcoin and other cryptocurrencies in crypto exchanges are significantly lower than any other options since the orders are matched in a wider market level.
Thus, you could get the best prices of bitcoin in crypto exchange platforms. If you want to trade bitcoin and other cryptocurrencies, I highly recommend using crypto exchange platforms instead. They have better charts where price data history and trade volume are visible to better time your price entries and exits.
A Bitcoin ATM is an internet-connected kiosk that lets you purchase or sell bitcoin. Most kiosks, however, are only designed to let you purchase bitcoins. Only a few have both buying and selling functionalities. The huge downside of transacting using Bitcoin ATMs, however, is the high transaction fee you have to shave off.
To help you decide, I summarized the pros and cons of buying and selling bitcoin for each method below:. Out of these four methods, I only tried local crypto wallet apps and crypto exchange platforms. But I personally prefer a crypto exchange platform more.
How about you? Have you tried to buy and sell bitcoin in the Philippines? What method did you find the best? I would love to hear your experience in the comment section below!
Sheila , the author of Pinay Teenvestor , is currently practicing her profession as a civil engineer while embracing other income opportunities on the side. She chose the name " Teenvestor " since she strongly believes investing in the early years will greatly contribute to the financial freedom everyone wants to attain in their golden years.
Peer-to-peer marketplaces like Paxful and LocalBitcoins exist to provide an escrow solution to two people wishing to exchange their crypto. The last method is of course meeting the buyer or seller directly but make sure you can vouch the person you are meeting before proceeding with such transactions. Now, the oftenmost way to buy crypto is to convert your Bitcoins at Coins. Examples of which are Binance and OKex.
Do you know of other ways to purchase cryptocurrencies in the Philippines? Let us know in the comments below! BitPinas is the oldest blockchain and cryptocurrency news outlet that covers the Philippine blockchain and crypto scene.
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