BITCOIN: How to Purchase Bitcoin ter the Philippines – One Peso a Day
Cryptocurrency refers to a digital currency that is secured by various cryptographic methods. Thesis are often used spil a substitute for real currency to make quick and secure transactions online. There are several types of cryptocurrencies. The main one being Bitcoin, a cryptocurrency that reached a peak of $2800 vanaf coin. Investing te cryptocurrency peaked my rente earlier this month. Here is a step by step guide on how to begin investing ter cryptocurrency:
HOW TO PURCHASE BITCOIN Te THE PHILIPPINES
There are Two basic requirements. One is a portal to buy Bitcoin, and the 2nd is an account ter an exchange to convert your Bitcoin into other cryptocurrencies. Here are the websites I used:
COINS.PH – to purchase bitcoin. If you use that listig, a PHP50 verzekeringspremie will be instantly credited to your account once you CONFIRM your identity by uploading a valid ID and a selfie of you holding your valid ID.
1) Funding your COINS.PH Account
One thing you should know is that Bitcoin is needed to buy all other cryptocurrencies. Ter brief, if you want to invest ter cryptocurrencies you voorwaarde very first obtain Bitcoin. The most reliable and secure Philippine portal I found to purchase Bitcoin wasgoed COINS.PH .
Once you have a confirmed account, you have to fund your peso wallet. You can do this te several ways either by online bankgebouw transfer, overheen the toonbank deposit, 7-11 etc. I personally choose depositing through 7-11 since this credits your wallet instantly spil opposed to the other methods which could take up to 24 hours. COINS’ toverfee for depositing through 7-11 is PHP50 vanaf PHP2,500 deposit.
Two) Converting PHP to Bitcoin
You can see that I funded my wallet with PHP Five,000. The next step is to convert it to BTC(Bitcoin). Simply click “CONVERT” spil seen ter the photo above.
You will be prompted to the window below. Type ter the amount of PHP you want to convert to bitcoin. The amount of bitcoin you receive depends on the Bitcoin exchange rate at the time of your conversion. Ter the example below 1 Bitcoin is omschrijving to PHP 166,170. Click convert to finalize.
Once converted you will see a balance on your BTC wallet.
Trio) Sending Bitcoin from COINS to Poloniex
To do this, click the “SEND” button te your BTC wallet spil seen ter the pic te step Two. You will be taken to the following window. Simply pack up the necessary information. The wallet address you will place te the “TO” section will be the one te your Poloniex account. Wij will discuss this ter detail zometeen.
After you pack up all information, you will be asked to choose inbetween Three types of fees. The type of toverfee you choose will determine how quickly your bitcoin will be transferred. This is because te order for Bitcoin to be transferred from one wallet to another it has to be “mined” or decrypted by a “miner.” They, of course, would like to be paid for their efforts so they typically mine those with high fees very first. By practice, here is the timeline of transferring Bitcoin depending on the toverfee amount:
Low Fees: I experienced a transfer time of 24 hours, but according to forums it could last spil long spil weeks.
Medium Fees: Trio hours based on practice.
High: Toevluchthaven’t attempted it yet, I don’t like to pay too much spil it will eat your profits. Based on forums it could take around 30 minutes to a duo of hours.
You can check the status of your transfer by going to Blockchain.informatie and typing your Poloniex wallet address te the search brochure.
Four) Getting Your Poloniex Wallet Address
Creating a Poloniex account is pretty straightforward. You simply have to create a username, password and inject a valid email address.
After creating your Poloniex account, head overheen to “BALANCES” te the main menukaart and click on “DEPOSITS AND WITHDRAWALS”
You will be taken to this screen:
Click on “DEPOSIT“. This will prompt a window containing your wallet address. A wallet address is a unique alphanumeric sequence. Input this address ter the “TO” section ter step number Three. You will receive an email from both Poloniex and COINS once your Bitcoin has bot successfully transferred. Make sure that you clicked on your BTC wallet and not the other ones. Otherwise, you will not be able to receive your Bitcoin.
That’s it. You have now successfully transferred your BTC from COINS.PH to Poloniex . You can now embark trading for other cryptocurrencies. Best of luck!
Check out THIS Postbode for the vertoning of my portfolio for the very first 24 hours of investing te cryptocurrency.