Exchanging your cash to bitcoin in the Philippines can be as simple as going to the nearest bank or 7-eleven. But what about Ether? What about Litecoin? What if I want to buy a brand new altcoin? We covered this topic on our 2 guides on using Bittrex, a cryptocurrency exchange site. For this article, we will focus on Poloniex and how we can transact on that website.
Beginners Guide to Poloniex in the Philippines
Poloniex is a cryptocurrency exchange from the United States for trading cryptocurrencies. Trading fees start at .25% for anything less than 600BTC in value.
Poloniex is just one of the many cryptocurrency / digital exchange websites available. If you want to check out Bittrex, another crypto-exchange site, you can CLICK HERE.
If you are a beginner in the world of cryptocurrency and want to check out bitcoin, we would recommend trying the apps and sites most available in the Philippines ie: Coins.ph, Bitbit.cash, Buybitcoin.ph, and Abra.
Altcoins to buy on Poloniex
Below are just some of the coins you can buy and trade on Poloniex:
How to Sign Up for Poloniex in the Philippines
- If you weren’t able to submit an ID and get verified, you won’t be able to deposit funds into your account. However, you are free to check out the Poloniex user interface so you can get familiar with it once you start using the platform for real.
How to Fund your Poloniex Account
As of this writing, there is no way to fund Poloniex using our Philippine Peso. You can use the bitcoin you bought somewhere and use it to fund your Poloniex Account. The process should be the same with our previous guide on how to transfer bitcoin from Coins.ph to Bittrex.
Going to Balances
Going to Exchange
For this article, we will be using BTC to exchange for DASH. On the left side, you will see MARKETS. You can then search DASH or click on the DASH exchange (see screenshot). Wait for the page to load and then scroll down to see BUY DASH (see screenshot). In the screenshot, you will see that the price for 1 DASH is 0.07500850 BTC at the moment. Choose the amount of DASH you want to buy and click on the Buy button to finish the transaction. You can then send your DASH to your DASH wallet for safe keeping.
Tutorial Video for Buying Altcoins in Poloniex
Tips in buying Altcoin in Poloniex
- Try trading a small amount of coin first. Test the waters before you go all out.
- But only invest in an amount you can afford to lose!
- Have your crypto wallet ready. You don’t want to keep your cryptocurrencies in crypto exchange sites as they are prone to hackers.
Overall – Poloniex Philippines
Poloniex is just one of many certified digital assets exchange sites that you can use. The example given above is just basic trading / exchange that you can do on the platform. Learning the basics is an important step in becoming a pro in cryptocurrency trading. After getting a hang of the basic trade flow, you can then dabble in Poloniex’s Margin trading (trading with borrowed funds) and Lending.