It is easy to obtain bitcoins in the Philippines. A trip to the nearby convenience store will usually do. Ethereum can also be purchased ideally through a transfer within an app or over the counter. Recently, another app allows users from the Philippines to exchange their fiat to NEM, Bitcoin Cash, and other cryptocurrencies.
Most of the services mentioned above are ideal for anyone who wants an easy way to obtain cryptocurrencies. However, these services determine the price of the tokens for you. What if you want to set your own price for every coin you buy or sell?
That’s where cryptocurrency exchanges are here for.
What are cryptocurrency exchanges?
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Cryptocurrency exchanges are platforms where you can trade your fiat to cryptocurrency and vice versa. Most foreign crypto exchanges allows users from the Philippines to trade their bitcoins to altcoins and vice versa. There’s no way to trade using our fiat. That’s why in our previous guides for Bittrex, Poloniex, and even Loyal Coin, we mention transferring bitcoins from a wallet to the exchange.
But all that will be history as soon as these PH-based cryptocurrency exchanges officially launch. Once they are live, they will allow users from the Philippines to trade using fiat money (PHP). This will remove the need to rely on foreign exchanges to trade for altcoins and to set user prices.
Philippine Cryptocurrency Exchanges
First on the list is Coins.ph’s CX, which is currently in beta. Selected users can already trade bitcoin to fiat and vice versa on CX.
During the beta phase, users can transfer PHP from the Coins.ph to CX. In order to transfer funds from your Coins.ph wallet to your CX account, you have to go to Coins.ph’s Pay Bills then choose Coins Exchange BTC or PHP. Put the amount you’re comfortable with and proceed.
CX also allows users to trade fiat to bitcoin cash, ripple, litecoin, and ethereum. Because it is connected to Coins.ph, users can easily fund their CX accounts via 7-eleven, GCash, and partner banks.
Official Website: https://cx.coins.asia/
The Philippine Digital Asset Exchange (PDAX) is set to launch in the country this summer 2018.
PDAX will let Filipinos trade cryptocurrencies and digital assets without the need of going to foreign exchanges. It is also reported that the exchange will utilize the same order-matching technology used in stock exchanges to match buyers and sellers.
PDAX users can trade pesos for bitcoin, bitcoin cash, ethereum, ripple, and litecoin. 2 more coins are set to be announced soon. PDAX also listed 7-eleven, GCASH, the SM Store, and partner banks as ways to fund user accounts.
Official Website: http://pdax.ph/
Citadax is a cryptocurrency exchange platform by SCI Ventures, the company behind buybitcoin.ph, bitbit.cash, and rebit.ph. Not much is known about Citadax at the moment, but its website currently allows users to join the waitlist.
Official Website: https://citadax.com/
This list doesn’t include cryptocurrency exchanges that will operate in the Cagayan Economic Zone Authority (CEZA). CEZA-based cryptocurrency exchange will service users outside the Philippines.
- How to Buy Loyal Coin in the Philippines Through Nemchange, etc
- The Best Cryptocurrency Wallets to Use in the Philippines
- CEZA to House $100 Million Worth of Crypto & Blockchain Facilities
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- 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.