I’m glad that you are now diversifying your funds! Aside from stocks, you can definitely invest in crypto even if you are in the Philippines. For new investors who don’t know where to buy cryptocurrencies, I will share with you some platforms where you can buy cryptos such as Bitcoin, Ethereum, and ADA.
Cryptocurrencies are volatile investments but based on their history, you can hold them for a long term to accumulate your funds and grow your money. All it takes is discipline, knowledge, and a lot of patience. Don’t be scared to start investing. Just apply what you have learned about the stock market so it would be easy for you to play crypto.
The first step in investing in crypto is looking for a platform where you can buy different cryptocurrencies. Coinbase, Coins.ph, Binance, and eToro are some of the popular platforms among Filipinos where you can invest and trade cryptocurrencies. The difference between these platforms is usually the spread. Nevertheless, you will be able to buy cryptocurrencies on whatever platform you choose. To invest in Cryptocurrencies click here.
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In this part, I would like to share with you how to open an account and how you can start investing. Let’s start with Coins.ph. To buy Bitcoin.
First, you may head to the Coins.ph official website here. There is a page there dedicated to those who want to start buying Bitcoin. Once you are on the site, click “Log in” on the upper right side of the screen and start filling up the information needed. Make sure your phone number and password are ready. You may then proceed to sign up. After this process, you need to verify your account so as to remove the restrictions. Start investing by funding your account.
With Binance, the same process is done. You may register on its official website. Ensure to prepare your email, phone number, and password for successful registration. You might need to submit your valid IDs like your passport or driver’s license to verify your account. Typically, it doesn’t take a day before your account can be verified. Just wait for a couple of minutes or hours and by then, you can start depositing your desired amount and use it to buy Cryptocurrencies.
If you wish to open an account with eToro, head to its official website and give your email and password for registration. The minimum deposit in eToro is $200. The amount can change based on the strategies of the platform in the past months of 2021. You can also use eToro to buy US, HK, and EY stocks. Don’t forget to have your account verified first before you deposit your first investment.
Whatever you choose, make sure that your documents are ready, and don’t deposit until your account is verified. Start with a minimum of $100 or $200 as this is the ideal amount when starting to invest in crypto. You may choose to hold your investment for the long term or you may trade in a short period of time.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.