Cryptocurrency is a digital or virtual currency, which is generally secured by cryptography, making it nearly impossible to counterfeit or double spend. Its decentralized, secure, and anonymous nature has made it immensely popular worldwide. Additionally, its automated and anonymous system supports the peer-to-peer architecture (P2P architecture), making it possible to transfer funds and other digital or virtual assets between two distinct individuals without a central authority.
Bitcoin is regarded as the first modern cryptocurrency that has started the trend of using digital currency to purchase or sell different products and services. Accordingly, as cryptocurrency is changing the way people buy or sell commodities, other types of cryptocurrency have surfaced. Many people are using cryptocurrency Philippines for quick and efficient payments and avoid transaction fees.
Consequently, the popularity of cryptocurrency has seen more people interested in using and investing in digital currency. Moreover, being familiar with how cryptocurrency work is only the start of a person’s digital currency journey. People must also know where to buy bitcoin in the Philippines.
There are several ways to buy, sell, or exchange cryptocurrencies in the Philippines or other parts of the world. Among the most recommended places to buy bitcoin is Coinbase. This platform is one of the easiest places for people to start with when it comes to bitcoin, Bitcoin Cash, Ethereum, and Litecoin, as they only have to sign up and connect their bank accounts to be able to convert their funds into bitcoin and back to dollars. Additionally, the platform also offers both an exchange and a wallet, which uses two-factor authentication, ensuring that Coinbase users’ data and funds are secured.
Another platform where people can buy bitcoins in the Philippines is Coins.ph. It is the Philippines’ first virtual currency provider and is among the 13 companies approved by the Bangko Sentral ng Pilipinas (BSP) to provide crypto service to Filipinos. Subsequently, the platform is convenient to use as people can access their account via web, android, or iOS app. Users’ cryptocurrency funds are also secure as Coins.ph has advanced security systems built into its platform.
On the other hand, people can also use Cash App, Coinmama, Bitstamp, and Coexstar to buy and sell cryptocurrencies. It is worth noting that these are only a few of the places and platforms where people can buy, sell, or exchange cryptocurrencies. They can also explore other cryptocurrency platforms but must be very careful when selecting where to buy, sell, or exchange their digital currency.
This infographic from Coexstar discusses how cryptocurrencies work and where to buy digital currency.