BITCOIN has become one of the most desired currencies for online trades. Ever since this cryptocurrency gained popularity in 2015, millions of people around the world are more than willing to mine it and try to make a profit.
Its popularity peaked at the end of 2017 when the value for one Bitcoin was over $19,000. Logically, the price went down rapidly after spiking, and today’s value is around $10,000.
Even though many countries deemed Bitcoin illegal due to the fact that it’s self-sustainable, highly decentralized and it offers anonymity to all traders, one of the countries that saw its potential was the Philippines.
Most Popular Marketplaces
There are many places where one can trade with Bitcoin in the Philippines. That’s the reason why thousands, maybe even millions of people in this country have owned or own Bitcoin. The cryptocurrency has many benefits to the ones who know what to do with it.
BuyBitcoin.ph
One of the biggest pros of using BuyBitcoin.ph is that this site offers the easiest way to purchase Bitcoin in the Philippines. To make things even better, its interface is extremely simple and easy to use, making it perfect for beginners.
Bitcoin Trader
The first pick on the list is Bitcoin Trader. This is a trading software that was created in 2017. One of its biggest advantages is its speed. Bitcoin Trader executes automatic trades 0.01 second faster than its competitors. There are no commissions or monthly fees here, which is also a big plus. If one is willing to know more about it, he should read the review on the Bitcoin Trader software . It’s extremely helpful and informative.
Coinmama
The good thing about Coinmama is that this company is accepted in almost all countries in the world. Coinmama’s brokerage service allows one to buy Bitcoin by using his credit card. The company was established back in 2013 and it serves over two million customers in more than 160 countries.
Some of the pros of using Coinmama are simplicity and fast transactions. This platform is also one of the best for beginners and people who are still trying to navigate in these waters. Coinmama has certain fees applied and they are a bit more expensive than the rest of the competitors.
Some other honorable mentions in this section are Coinbase, Coins.ph and Coinage. There are also many Bitcoin ATMs in the country and they should also be considered when thinking of trading with Bitcoin.
Regulation
Bitcoin is legal in the Philippines. Not only is this cryptocurrency legal, but the nation is also extremely crypto-friendly. Bangko Sentral ng Pilipinas has registered several accepted cryptocurrencies aside from Bitcoin. It also engages in many crypto projects and searches for ways to improve the service for the people.
Considering the fact that Bitcoin had a value of over $19,000 in 2017, it is no wonder that everyone wants to profit off of it, banks and government included. Many sources labeled the Philippines as one of the most crypto-friendly countries in the world.
The Securities and Exchange Commission regulates all activities with Bitcoin and other cryptocurrencies. Lastly, the central bank even formally adopted an approach to cryptocurrencies in 2017, when it issued the Circular No. 944.
One can find crypto-ATMs, another sign of its legality and the open mind toward using Bitcoin and other cryptocurrencies. (Sponsored Content)