You can now trade cryptocurrency (crypto) on the PayMaya app. With the new feature, Filipinos can easily buy and sell digital assets such as Bitcoin and Ethereum for as low as Php 1.
To enter the cryptocurrency market, you usually need to download and register for a crypto account and have a bank account or e-wallet app as a fund source.
With this new development, all you need to enter the crypto market is a PayMaya account. There is no need to register for another account, apply for an upgrade, or use another app. Unlike other e-wallets and apps, users can learn to use crypto, cash in to their wallets, buy and sell coins, and spend their crypto earnings without leaving the PayMaya app.
To start, you would need an upgraded PayMaya account to start trading in a variety of popular coins directly from the e-wallet in Philippine Pesos with no extra cash in and cash out fees.
PayMaya is currently rolling out the feature progressively to its base. Other popular coins and tokens available for trading are Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC), and Tether (USDT), with more coming soon.
PayMaya is both an Electronic Money Issuer (EMI) and Virtual Asset Services Provider (VASP), licensed by the Bangko Sentral ng Pilipinas (BSP). With PayMaya’s strong track record of security and reliability with its 99.9% app uptime, consumers can enjoy safe and legitimate crypto transactions.
Also Read: You can now cash in and top-up your Lazada wallet with PayMaya
PayMaya developed this feature under its investment platform in connection with Coinbase Institutional. Coinbase is the largest publicly traded crypto company in the world and the trusted bridge to the crypto-economy. It offers a comprehensive suite of products and services including custody, prime brokerage, trading tools, and analytics, and an enterprise infrastructure built on top of a robust security platform.
How to buy cryptocurrency using PayMaya
To start buying crypto on your PayMaya app, follow these steps:
- Tap Crypto on the PayMaya homepage.
- Tap Buy on the bottom of the screen, then select the desired cryptocurrency.
- Input the desired Philippine Peso (PHP) amount you want to spend. You will see the equivalent cryptocurrency value based on an estimated market price. Then, tap Next on the upper right hand of the screen.
- A Confirm Purchase tab will pop up. On this tab, you will see the amount in PHP you will be spending and the amount of cryptocurrency you will be receiving through this transaction. Once you are ok with the details, you may confirm your purchase and slide to buy.
Once you purchase your desired cryptocurrency, the amount will reflect on your app’s Crypto page.
How to sell cryptocurrency using PayMaya
Selling your crypto is just as easy as buying it. All you have to do is:
- Tap Crypto on the PayMaya homepage.
- Tap Sell on the bottom of the screen, then select the desired cryptocurrency.
- Select a percentage value to sell a part of your currently owned asset. You will see the equivalent PHP value based on an estimated market price. Then tap Next on the upper right hand of the screen.
- A Confirm Sale tab will pop up. On this tab, you will see the amount of cryptocurrency you will be selling and the amount of PHP you will be receiving through this transaction. Once you are ok with the details, you may confirm your purchase and slide to sell.
You will automatically receive your earnings on your PayMaya wallet.
Featured Image: Unsplash
