Kraken is the world's largest Bitcoin exchange in terms of both total volume and liquidity and accepts almost every type of bank or wire transfer as a funding method. Kraken Pro provides individual investors with real-time trading and charting tools. Kraken accepts deposits in . The Philippines fiat currency is the Peso. Previously the coin of value was the Piloncitos, (also known as Bulawan) a small gold coin or nugget popular in trade with early Filipinos. Bitcoin with the millions of dollars’ worth now traded in the Philippines is set to become the next Philippine currency of choice. THE PHILIPPINE DIGITAL ASSET EXCHANGE Buy and sell Bitcoin, Ether, XRP, and other cryptocurrencies. Our exchange makes it easy and safe for you .
Philippine bitcoin tradingHow to Sell Bitcoins in the Philippines - Complete Guide | BitPinas
While we will tackle bitcoin exchanges in another article , below is a brief introduction on how you can sell your bitcoins in a bitcoin exchange. For this example, we will use Coinage. The speed of the transaction depends on your sell rate. Some people will take advantage of beginners and will set their prices well beyond the market value.
Some users are more comfortable in selling their bitcoins to another person. This involves actually meeting up in a physical location. Of course, there are still some caveats when selling directly. You need to keep note of the following:. Contrary to the general opinion, there are hassle-free ways to sell bitcoins here in the Philippines.
As bitcoins continue to become popular, the number of places where you can sell them will only increase in time. How about you? How do you sell your bitcoins in the Philippines? Do you have other ways of doing it?
Let us know in the comments below! In the Philippines, it is fairly easy to buy and sell bitcoins, but storing them?
A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas. Skip to content. Please share and grow the BitPinas community. Table of Contents. Join and subscribe to stay up to date.
Oldest Newest Most Voted. The Philippines is becoming one of the top countries in the world that offers a good location to build blockchain and cryptocurrency projects. According to Mr. Brock Pierce, a blockchain advocate, the country is a great place to build such projects because of its English literacy, its enormous opportunities, and a huge unbanked population.
Purchasing Bitcoin and other virtual currencies in the country is now made easier through available cryptocurrency wallets such as Coins. These options have a set price per token. What if you want to set your own price for the coin you want to buy or sell?
This is where open book trading platforms come in. The first widely-known cryptocurrency is Bitcoin that was introduced in by an unknown programmer Satoshi Nakamoto. Bitcoin runs on a decentralized network, a public ledger, where every single transaction is recorded on a number of nodes.
Who records these transactions? They do it by solving strong cryptography puzzles that are needed to confirm and record a transaction. After confirming it, it will then be sent to a network of nodes and add it to its database. Once it is confirmed and recorded, the transaction becomes irreversible. With the creation of Bitcoin, a long list of other tokens followed. If Bitcoin is gold, ether is silver. There are three properties of cryptocurrency. These properties set it apart from the usual fiat currency.
In order to further understand the token, you also need to know its properties. The state of cryptocurrencies in the Philippines is looking bright. The BSP released its first advisory on virtual currencies in It informed the public about its features and risks in dealing with cryptocurrencies.
After three years, in February 6, , the regulator then released a circular concerning virtual currency exchanges that are more favorable towards crypto. This circular is called BSP Circular where licensed companies are allowed to legally exchange fiat to crypto and vice versa. The SEC, on the other hand, is also busy giving out advisories to the public about entities that use Bitcoin and other cryptocurrencies for investment schemes Click here for a list of SEC Advisories.
The SEC is also developing draft rules on virtual currency exchanges. It is also finalizing its rules on ICOs initial coin offerings.
In the Philippines, it is easy to buy Bitcoin, sell, or trade. You can download an application like Coins. This is usually the most common way to buy BTC. You can also buy, sell, and trade using a crypto trading platform, the subject of this article.
All the exchanges listed here are BSP-licensed. This means they are based in the country, allowing users to do crypto-Php trades and even reach out to them via customer support. It is a trading platform where users can buy, sell, and trade cryptocurrencies. An online platform where users can exchange cryptocurrency to another cryptocurrency or fiat. These exchanges charge a fee for each transaction. So it is not a stretch to think that they will offer Bitcoin to PHP and vice versa.