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Currency Exchange and Crypto Market

The Crypto Currency Market

 

Cryptocurrency

Cryptocurrency, often known as crypto-currency or crypto, is a digital payment system that does not rely on banks for transaction verification. It is a peer-to-peer system that allows anyone to make and receive payments from anywhere. The term "cryptocurrency" comes from the fact that it uses encryption to verify transactions.

Top Crypto Trading Platforms in the Philippines

Binance
Binance
Binance Exchange is the Philippines' most popular trading platform today, with a diverse choice of cryptocurrencies to trade. It features low trading fees, but be careful of their high withdrawal fees, which vary depending on the digital assets you remove.
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Coins.ph
Coins.ph
Coins.ph is a mobile wallet that allows you to send money, pay bills, and do other financial transactions. It is feasible to make money by keeping your cryptocurrencies here because it is an excellent long-term investment.
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PDAX
PDAX
PDAX is a BSP-regulated exchange where you may trade Bitcoin, Ethereum, and other cryptocurrencies directly using PHP. PDAX is a BSP-regulated exchange where you may trade Bitcoin, Ethereum, and other cryptocurrencies directly using PHP.
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Crypto.com
Crypto.com
Crypto.com offers a number of cryptocurrency-related services. By staking their CRO token, you can obtain access to their Syndicate and Supercharger services. Unlike other platforms, it does not accept Philippine peso as MOP.
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Coinbase
Coinbase
Coinbase is similar to crypto.com in that it only allows you to trade crypto for crypto, but it also offers other services including investing, a sophisticated trading platform, a wallet for ordinary investors, and its own U.S. dollar stable-coin.
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eToro
eToro
eToro is a BSP-regulated exchange where you may trade Bitcoin, Ether, and other cryptocurrencies directly using PHP. It is a simple platform to use because all you have to do is sign up and provide the necessary information to authenticate your identity.
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Currency Exchange Rates

A currency exchange is a licensed business that allows customers to exchange one currency for another. Most exchange rates are free-floating, meaning they increase and fall in response to market supply and demand. Currency exchange of physical money is usually done over the counter at a teller station, which can be found in various places such as airports, banks, hotels, and resorts.

WHY IS IT IMPORTANT?
Basic understanding of exchange rates is necessary since it serves as the primary link between the domestic and international markets for a variety of commodities, services, and financial assets. We can compare prices of goods, services, and assets quoted in different currencies by using the exchange rate.

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