BitPinas. Monero focuses on having private and censorship-resistant transactions to keep your real-life identity safe and secure. We will give you a brief introduction about Monero and how to buy it here in the Philippines.
This article had a very minor update on October 2, 2018.
What is Monero?
Table of Contents
- 1 What is Monero?
- 2 How to buy Monero in the Philippines
- 3 Buy Monero from Cryptocurrency Exchanges
- 4 Steps in buying Monero in Bittrex
- 5 Other ways to buy Monero
- 6 Monero Wallets
- 7 Monero Philippines Tips
Monero (XMR) was first introduced on April 18, 2014. Unlike Bitcoin that has a transparent blockchain, Monero uses cryptography that shields sending, receiving, and the amount from prying eyes.
By default, all transactions (sending, receiving, and the amount) using Monero are made obscured so that the privacy of all the Monero users are always on.
Also, it is *fungible. Monero cannot be tainted by any previous transactions. It is safe to have without risk of censorship.
*Fungible – a good or asset’s interchangeability with other individual goods or assets of the same type. – Investopedia
How to buy Monero in the Philippines
Update: October 2, 2018: Buy Monero on Abra
Abra supports depositing fiat via local banks and through credit cards. You can exchange bitcoins for MOERO within the Abra App. Should in case you want to cash out, you can do via partner merchants like Tambunting.
- Download Abra here! (It will ask for your mobile number, start with the PH area code 63.)
- Buy cryptocurrency on Abra through credit card!
Update August 31, 2018:
- Buy Monero with Credit Card or other tokens with Changelly.
- Buy Monero using your bitcoins on Binance.
Just like any other cryptocurrency aside from Bitcoin in the Philippines, you can not readily get Monero instantly. You will need to get another wallet aside from your current BTC wallet and register an account in a crypto exchange site. (Read: Bitcoin Wallet Philippines – How and Where to Store Your Bitcoins in PH)
Buy Monero from Cryptocurrency Exchanges
Many exchanges globally trade Monero. We will use Bittrex as an example.
- How to fund your Bittrex account with your Coins.ph / Abra Account
- How to buy altcoins from Bittrex for beginners
Steps in buying Monero in Bittrex
- Sign up and have your account ready.
- Have a BTC account via Coins.ph or Bitbit.cash
- Choose your crypto-exchange site, we will go with Bittrex as an example.
- Open a new wallet by using a Monero Desktop wallet. This wallet is advertised by Monero itself.
- There are also other Monero wallets available in Android and App Store but use them at your own risk.
- Ready your Bitcoins in your Coins.ph or Bitbit.cash.
- Send BTC from Coins.ph to your Bittrex BTC wallet.
- Create your Bittrex BTC wallet address by clicking on the + sign.
- Buy Monero using your Bitcoin in Bittrex.
- After purchasing, transfer your XMR to your chosen wallet.
Other ways to buy Monero
- You can buy XMR by joining legit Facebook Monero groups.
- Poloniex Crypto Exchange
- HitBTC Crypto Exchange
- Bter Crypto Exchange
- Other Cryptocurrency Exchange sites that accept BTC to XMR can be viewed HERE.
Monero Philippines Tips
- If you’re able to get in contact with another Monero user and wishes to do an exchange, make sure that both parties will meet in a secured public location.
- Currently, Bitbit.cash and Coins.ph don’t support Monero. You can use your Monero desktop wallet instead.
- Make sure not to keep your XMR in Crypto Exchange sites as it is vulnerable to hacking. Tuck them away in your wallet as soon as you can.
Unlike Bitcoin that all transactions are out in the open, Minero is on privacy default. It hides all the transaction to protect its users’ activities. If you’re cautious about your movement in the digital world, Monero’s a good cryptocurrency for you.
- How to Buy Ethereum in the Philippines
- How to Buy Litecoin in the Philippines
- Steps to Buy Bitcoin Cash in the Philippines
- List of Licensed Virtual Currency Exchanges
- List of Cryptocurrency Exchanges in the Philippines
- List of CEZA-Approved Offshore Crypto Exchanges
- List of Cryptocurrency Wallets
- List of Bitcoin Wallets
- List of LoyalCoin Partners
- Philippines Blockchain Business Directory
- List of Philippine Blockchain Events
- Bitcoin to PHP
- Cryptocurrency Charts in Pesos
Notes and Disclaimer:
- If you like what you read here, please consider subscribing to our newsletter! Follow Bitpinas at Telegram.
- For press release, sponsored content, and other advertising options, click here.
- Invest in bitcoins (or in any altcoins) only the amount you can afford to lose!
- Don’t put all your eggs in one basket. Spread your bitcoin and cryptocurrency investment.
- Before investing in any cryptocurrency, check the people behind it, its mission, and other details to ensure that they are worth investing for. Don’t invest in something you don’t know.
- This article is for informational purposes only and does not constitute an investment advice. Your actions are solely your own responsibility. There is no substitute for doing your own research. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.