How to Buy Stratis (STRAT) in the Philippines

Stratis is a blockchain-as-a-service Platform (Baas) that caters to businesses and organizations that want to develop blockchain applications. Its native coin is STRAT that received a 915 BTC during its initial coin offering on June 21 to July 26, 2016.

As of this writing (October 4, 2018), STRAT is available in different cryptocurrency exchanges including Abra in the country. In this article, we will teach you how to buy Stratis in the Philippines.

What is Stratis?

With the popularity of blockchain still growing and most companies are now trying to use the technology, the industry is now lacking programmers. This is where Stratis comes in. It has a secure blockchain structure that the companies can use and build on rather than creating their own from scratch.

Stratis offers a blockchain-as-a-service platform (Baas). It helps business enterprises and organizations create blockchain applications in C# utilizing the Microsoft .Net framework.

“We offer simple and affordable end-to-end solutions for development, testing and deployment of native C# blockchain applications on the .Net framework.” – Stratis Website

A few of the company’s core features are

• Blockchain-as-a-service platform (BaaS) – In order to make it easier for companies to adopt the technology, the company offered a subscription model for databases and cloud computing.
• Cross-platform integration – This means Stratis platform is compatible with other blockchain frameworks such as ethereum. This allows Stratis users to use multiple blockchain frameworks within Stratis.
• Blockchain consultancy – Aside from providing the technology, the company also offers its expertise to businesses who are interested in adopting the technology in their industry.

Stratis blockchain’s cryptocurrency is STRAT. It is the primary cryptocurrency used in the Stratis platform.  It has a circulating supply of 99,039,475 STRAT and has a 24-hour volume of $733,716 USD.

Where to buy Stratis (STRAT) in the Philippines?

STRAT is available in cryptocurrency exchanges such as Changelly, Abra, and traditional trading platforms.

Step 1: Getting BTC

In order to start trading or purchasing STRAT in crypto exchanges, you will need to have another cryptocurrency to trade. In this case, we will choose bitcoin as it is the most liquifiable token available in the market. BTC is also directly available in the country via Coins.ph, Bitbit.cash, Abra, and Changelly.

How to Buy Bitcoin using Coins.ph

Betur, Inc. known as Coins.ph is the first company to receive Bangko Sentral ng Pilipinas’ (BSP) Virtual Currency Exchange License on September 2017. It is also the top cryptocurrency wallet in the country because of its convenience. As of this writing (October 4, 2018), it supports PHP, BTC, ETH, BCH, and XRP.

Steps:

1. Sign up and Register for a Coins.ph account (Register here!)
2. Verify your account and complete necessary KYC (know-your-customer)
3. Have your Philippine fiat ready and cash in your account via:
   1. 7-Eleven Cliqq Kiosk
   2. Palawan Pawnshop
   3. UnionBank or other bank accounts
4. Once you have PHP in your Coins.ph wallet, convert it to BTC
5. Transfer this BTC to your cryptocurrency exchange of choice.

How to Buy Bitcoins using Abra

1. Register to Abra (Register here! Don’t forget to start with +63 for Philippine numbers.)
2. Verify your account and complete the necessary KYC.
3. 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
4. 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:
  • Buy cryptocurrency on Abra through credit card!

How to Buy Bitcoin using Credit Card / Debit Card

You can also use Changelly to purchase bitcoin using your credit/debit card. It is a cryptocurrency broker that lets you exchange your token to another for a minimal fee. Using its buy crypto using credit card option, you can purchase bitcoin, litecoin, or bitcoin cash.

Steps:

1. Sign up and register to Changelly (Register here!)
2. Choose as to whether you want to purchase crypto using USD or EUR
3. Choose what token you want to purchase. It can be bitcoin, bitcoin cash, litecoin, or ethereum.
4. Put your correct token address. For the sake of this article, put your BTC address.
5. Complete the KYC requirements.
6. Input your credit card or debit card information.
7. Verify if all the information is correct.
8. Receive your tokens.

Step 2: Trading your BTC to STRAT

Abra

Abra is a cryptocurrency wallet and exchange app available in the country. Currently, it has three natively supported token: bitcoin, litecoin, and bitcoin cash. This means these three tokens can be directly deposited or withdrawn in the app. Aside from the natively supported coins, it also supports 25 cryptocurrencies and 50 fiat currencies within the app.

Steps:

1. Register to Abra (Register here! Don’t forget to start with +63 for Philippine numbers.)
2. Verify your account and complete the necessary KYC.
3. 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
4. Once you have your account funded, you can now exchange it to *Stratis (STRAT).

*Since STRAT 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. It works like a money changer where it exchanges your token to another. Since we already funded our wallet with BTC, we will use it to exchange for STRAT. Unlike traditional cryptocurrency exchanges, Changelly uses the token’s market price. It also has over 100 altcoins that you can exchange and will 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:

1. Sign up and register to Changelly (Register here!)
2. Choose the token “YOU HAVE” to BTC. Input the amount of BTC you have.
3. Choose STRAT on “YOU GET”.
4. Click on Exchange!
5. You will go to the next page, don’t forget to tick on the “I’ve read and agree…” and click on Next.
6. Put your STRAT address. Click on Next.
7. Confirm the transaction if it’s correct. Click on Next.
8. Changelly will give you a QR code to scan where you can send your BTC. You can also copy the address.
9. Wait for the exchange within 5-30 minutes.
10. Receive your STRAT in your Stratis Wallet.

Traditional Cryptocurrency Exchanges

Traditional cryptocurrency exchanges are your open book trading platforms. Users of this kind of crypto exchange have the ability to set their own buy/sell price or use the token’s market price. For STRAT, it has various trading pairs such as STRAT/BTC, STRAT/KRW, STRAT/ETH, STRAT/EUR, STRAT/USDT, and STRAT/GBP. In this article, we will use the STRAT/BTC pair.

• Binance – How to Trade Bitcoins for Altcoins Using Binance
• 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

Steps in Buying STRAT using Binance

1. Register and verify your e-mail address (Register to Binance here!)
2. Fund your Binance account by going to Funds > Deposit > BTC
3. Use your BTC in your cryptocurrency wallet such as Coins.ph, Abra, Bitbit.cash, etc and then transfer it to your Binance wallet.
4. Go to Exchange and search the BTC/STRAT trading pair
5. Put the amount of STRAT you want to buy and you can either set the price or buy using the market price.
6. After completing the purchase, go to Withdraw > STRAT

The steps shown above are almost the same in other traditional cryptocurrency exchanges.

Stratis (STRAT) Wallet

Stratis has its own wallet to store your STRAT, you can use its Staking Wallet or Stratis Electrum. Ledger Nano S also supports the token.

• Staking Wallet
• Stratis Electrum
• Buy Ledger Nano S Wallet

Lifetime STRAT Price Chart

The price of STRAT ever since its first recorded price at 0.013826 USD on August 2016 was on an uptrend. Almost a year later on May 2017, it finally reached the 1.02 USD per token price and it was still going up until it reached its first peak at 10.62 USD on June 2017. Just like other cryptocurrencies during the December 2017 – January 2018 cryptocurrency hype, it reached its highest price at 22.21 USD per token on January 2018. As of this writing (October 4, 2018), its price is dancing around 1.30 to 1.50 USD.

STRAT – Difference from other Coins

Stratis uses Proof-of-Stake (PoS) rather than Proof-of-Work (PoW) that is similar to bitcoin. This is to fix the PoW’s 51% vulnerability. The company’s ICO was also one of the few successful ICOs as it nearly gathered 1000 BTC to fund the platform.

Stratis Key People

• Chris Trew, CEO and Founder, Stratis
• Krushang Patel, Head of Communications, Stratis
• Carlton Pringle, Project Lead Tumblebit and Breeze, Stratis (LinkedIn)
• Nicolas Dorier, Bitcoin Development Technical Adviser, Stratis (LinkedIn)
• Dan Gershony, Stratis Blockchain Developer, Stratis (LinkedIn)
• Pieterjan Vanhoof, Stratis Blockchain Developer, Stratis (LinkedIn)

Overall

Stratis offers a blockchain-as-a-service platform (Baas). The company helps businesses or organizations of whatever size developer a blockchain application. Its token is called STRAT that runs on Stratis.