Revolutionary Changes Inspired By Crypto Trading In the Philippines

For the longest while, the economy of the Philippines was lower than average. The agriculture sector was the primary source of income for the country. However, the Bitcoin revolution has changed everything for the better. Aside from the fact that Bitcoin is legal in the Philippines, the people in the country are highly interested in the coins. Bitcoin, along with a variety of other crypto, is legally registered and approved by the country. Besides, any related project is openly accepted by the government and citizens.

Crypto trading platforms in the Philippines

Only in 2020 the Philippines central bank approved around 16 exchange platforms. Such top-rated vendors as Cex.io, Coinmama, and eToro are among the few presented on the Philippines market. Every user has the right to choose the vendor according to their needs and preference. All the platforms presented feature different fees, accept various payment options, and feature withdrawal limits.

Where can you buy crypto in the Philippines?

The simplest would be to purchase the set amount of crypto from a dedicated exchange. However, some exchanges don’t offer crypto wallets, and thus, a personal wallet created with another provider is a must. Besides, not always the provided platform wallets are secure and reliable. Personal wallets are preferred.

No matter the popularization of Bitcoin and related currencies, there are no crypto ATMs in the Philippines yet. On the other hand, peer-to-peer exchanges are gaining increased popularity. Such exchanges as Local Bitcoins offer individuals to exchange crypto while dealing with other people directly. There’s a fair share of risk involved with such exchanges, but it seems that people of the Philippines are more attracted to such crypto exchanges than others. The main reason for that is due to the increased anonymity the method grants. Local Bitcoin can’t be compared to the privacy a dedicated ATM may grant but close enough.