How to Buy DigiByte (DGB) in the Philippines
DigiByte (DGB) is a digital asset that cannot be destroyed, counterfeited, or hacked.
DigiByte (DGB) is a digital asset that cannot be destroyed, counterfeited, or hacked. It runs on its own public with a focus on cybersecurity for digital payments and decentralized applications (DApps).
As of this writing (October 3, 2018), you can buy digibyte through cryptocurrency exchanges. In this article, we will teach you how to buy DGB in the country.
What is DigiByte?
Digibyte runs on its own decentralized public blockchain. Founded in 2013 but released in 2014 by Mr. Jared Tate. The token itself is based on bitcoin with a couple of adjustments to make its own blockchain and token more secure and faster. If compared to bitcoin’s block speed of 1 block for every 10 minutes, digibyte claims to do it in every 15 seconds. In addition, it also has 200,000 full nodes compared to BTC’s 7,400 full nodes.
Its max supply is 21,000,000,000 DGB and as of this writing, the number of DGB mined are 10,874,533,553 DGB. It has five different types of individual mining algorithms such as SHA256 (ASIC mining), Scrypt (ASIC mining), Groestl (GPU mining), Skein (GPU mining), and Qubit (GPU mining, CPU mining).
“DigiByte (DGB) is a rapidly growing global blockchain with a focus on cybersecurity for digital payments & decentralized applications.” – DigiByte Website
Where to Buy DigiByte (DGB) in the Philippines?
Since DGB is not yet directly available in the country, you can own this token by purchasing it through cryptocurrency exchanges like Abra, Changelly, and traditional trading platforms.
Step 1: Getting BTC
Before we could use cryptocurrency exchanges and purchase DGB, you will need to have bitcoins first. We will choose BTC as this is the most liquifiable cryptocurrency available in the market. Purchasing bitcoin in the Philippines is easy through Coins.ph, Abra, Bitbit.cash, or Changelly.
How to Buy Bitcoins using Coins.ph
Coins.ph is one of the top cryptocurrency wallets in the Philippines because of its convenience. It received its virtual currency exchange license from BSP on September 2017. As of this writing, the wallet can support PHP, BTC, ETH, BCH, and XRP. (As of October 3, 2018)
Steps:
- Sign up and Register for a Coins.ph account (Register here!)
- Verify your account and complete necessary KYC (know-your-customer)
- Have your Philippine fiat ready and cash in your account via:
- 7-Eleven Cliqq Kiosk
- Palawan Pawnshop
- UnionBank or other bank accounts
- Once you have PHP in your Coins.ph wallet, convert it to BTC
- Transfer this BTC to your cryptocurrency exchange of choice.
How to Buy Bitcoins using Abra
- Register to Abra (Register here! Don’t forget to start with +63 for Philippine numbers.)
- Verify your account and complete the necessary KYC.
- Have your Philippine fiat ready and add money to your wallet by using
- Union Bank account
- Abra teller
- Tambunting Pawnshops and other affiliated pawnshops
- Bitcoin transfer
- Litecoin transfer
- Bitcoin Cash transfer
- Once you have your account funded, you can now exchange it to bitcoin (BTC)
- You can also purchase bitcoin using your debit or credit card through Abra:
How to Buy Bitcoin using Credit Card / Debit Card
If you want to buy BTC using your credit/debit card, you can also choose Changelly. It is a cryptocurrency broker that will also let you purchase litecoin, bitcoin cash, and ether using your card.
Steps:
- Sign up and register to Changelly (Register here!)
- Choose as to whether you want to purchase crypto using USD or EUR
- Choose what token you want to purchase. It can be bitcoin, bitcoin cash, litecoin, or ethereum.
- Put your correct token address. For the sake of this article, put your BTC address.
- Complete the KYC requirements.
- Input your credit card or debit card information.
- Verify if all the information is correct.
- Receive your tokens.
Step 2: Trading your BTC to DGB
Abra
Steps:
- Register to Abra (Register here! Don’t forget to start with +63 for Philippine numbers.)
- Verify your account and complete the necessary KYC.
- Have your Philippine fiat ready and add money to your wallet by using
- Union Bank account
- Abra teller
- Tambunting Pawnshops and other affiliated pawnshops
- Bitcoin transfer
- Litecoin transfer
- Bitcoin Cash transfer
- Once you have your account funded, you can now exchange it to *digibyte (DGB).
*Since DGB is not a natively supported token, in order to withdraw the token, you will need to exchange it first to either bitcoin, litecoin, bitcoin cash, or any fiat currencies.
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Changelly
Changelly is a cryptocurrency broker, this means it works just like a money changer and changes your token to another token for a fee. Since it is a crypto broker, users can not set their own buy/sell price but instead have to use the token’s market price. Changelly has over 100 altcoins that you can exchange and can also let you buy bitcoin using a credit card/debit card. Transactions using Changelly is easy and quick as it can only take 5-30 minutes.
Steps:
Sign up and register to Changelly (Register here!)Choose the token “YOU HAVE” to BTC. Input the amount of BTC you have.Choose DGB on “YOU GET”.Click on Exchange!You will go to the next page, don’t forget to tick on the “I’ve read and agree…” and click on Next.Put your DGB address. Click on Next.Confirm the transaction if it’s correct. Click on Next.Changelly will give you a QR code to scan where you can send your BTC. You can also copy the address.Wait for the exchange within 5-30 minutes.Receive your DGB in your DigiByte Wallet.
Traditional Cryptocurrency Exchanges
Traditional cryptocurrency exchanges are your traditional open book trading platforms. Users of this kind of exchange are free to put their own buy/sell price or to use the token’s market price. In DGB, there are various trading pairs available such as DGB/BTC, DGB/ETH, DGB/TRY, DGB/USDT, DGB/LTC, DGB/INR, DGB/GBP, DGB/USD, DGB/DOGE, and DGB/EUR. For the sake of this article, we will go with the DGB/BTC pair.
- Huobi – How to Buy Altcoins Using Huobi.pro in the Philippines
- Cryptopia – How to Buy, Sell, Trade in Cryptopia with Bitcoins for Altcoins
- Bittrex – Beginners Guide on How to Buy Altcoins from Bittrex
- Poloniex – How to Buy Altcoins Using Poloniex From the Philippines
- KuCoin – How to Trade for Bitcoins for Altcoins using KuCoin
Steps in Buying DGB using Bittrex
- Register and verify your e-mail address
- Fund your Bittrex account by going to Wallets > BTC > +
- Use your BTC in your cryptocurrency wallet such as Coins.ph, Abra, Bitbit.cash, etc and then transfer it to your Bittrex wallet.
- Go to Trading and search the BTC/DGB trading pair
- Put the amount of DGB you want to buy and you can either set the price or buy using the market price.
- After completing the purchase, go to Withdraw > DGB.
The steps shown above are almost the same in other traditional cryptocurrency exchanges.
DigiByte (DGB) Wallet
DigiByte has a variety of official wallets available to its users. It is available for Windows 64-Bit users, MacOS X, Android, iOS, Chrome, and hardware wallets.
Lifetime DGB Price Chart
DigiByte’s first ever recorded price on CoinMarketCap is 0.001489 USD per token on February 6, 2014. It was on a steady 0.0001 to 0.0002 USD price until September 2014 where it dipped 0.000080 USD. The price didn’t get enough action for the rest of 2015 to 2017.
Just like other cryptocurrencies, 2017 is also the year of DigiByte. By June 2017, it reached its first peak at 0.063246 per token. The second peak and one of its highest price happened on January 2018 at 0.137046 USD. As of this writing (October 3, 2018), its price is steady at 0.02 USD.
DGB – Difference from other Coins
Once of DGB’s difference from other coins is it didn’t go through an Initial Coin Offering (ICO), presale, or token sale. According to its website, there is also no private company controlling the DigiByte blockchain.
DigiByte Key People
- Jared Tate, Founder and Creator, DigiByte (LinkedIn)
Overall
Although patterned on bitcoin, digibyte runs on its own blockchain. Its blockchain can be used to create DApps and other smart contracts. Its block creation speed is at 15 seconds compared to bitcoin’s 10 minutes. It also has five mining algorithms available.
