Bitcoin Forum

Updated VIRTUAL CURRENCY EXCHANGES in the Philippines.

Bago ang lahat, Ano nga ba ang Virtual Currency Exchange?

- isa itong business na kung saan maaring i exchange ang fiat money into cryptocurrencies like btc, eth, xrp, bch and etc. It also allows cryptocurency tradings. It maybe some Remittance and Transfer companies and/or with Money Changing and foreign exchange services.

Pero Pano natin malalaman kung trusted VCE ( Virtual Currency Exchange) sila?

-Kelangan nilang kumuha ng licensed permit from BSP o Bangko Sentral ng Pilipinas para maging legal ito and trusted. BSP warned us to only transact with the licensed VCEs. Npakadaming VCE na actually ang lumalabas sa industriya natin. But for us to be aware kung sino nga ba ang registered na sa BSP, I have provided the list.

Last April-2019, there were 10 VCEs approved in our country. As of June 2019, one VCE added to the list.

Here's the 11 Legal VCEs in the Philippines:

If you want to view the full image with full information, download it here as pdf. (https://t.co/bMWd1jUSIf)

Dagdag Kaalaman:

 BETUR.INC aka Coins.ph is the first registered VCE by Banko Sentral ng Pilipinas (BSP) year 2017.

I will leave  link here  (https://bitpinas.com/cryptocurrency/list-cryptocurrency-exchanges-philippines/) for you to read the full article and to spot the differences of each approved Virtual Currency Exchanges and their offered services. Kelangan natin malaman kung kanino tayo dapat magtiwala. BSP conducted some qualifications before approving one VCE and that is why it is very significant to know these companies before doing some transactions with them.

Paki-update ang thread OP.

New additions as of August 7, 2019:

• Telcoin
• Atomtrans

By next year siguro marami ng fully operational na palitan dito. Marami ng ka-kumpitensya ang Coins at maganda yun dahil baka mas maging fair na ang pricing nila ng bitcoin, eth, bch, at xrp.

Is there a Currency Exchange na mas better sa coins.ph? coins.ph kasi parang pioneer na siya talaga ng vcurrency exchange sa Pilipinas, but still i want to know if there is another currency exchange na sa tingin niyo mas better sa coins.ph

Depende yan sa preference mo. Mas marami pa din ang preferred coins.ph despite the high fees na charge niya. Sa ngayon dalawa pa lang sa aprubado ng Bangko Sentral ang fully operational (Coins Pro/Coinsph at VHCEX). Tignan mo thread na ito para sa mga upcoming exchanges: [EXCHANGES] List of Cryptocurrency Exchange Philippines (https://bitcointalk.org/index.php?topic=5143612.msg51067534#msg51067534)

Sa susunod na taon, malamang mas marami ng magiging operational at pwede mag-offer ng mas favorable rates kumpara sa coins.

It is worth noting that when we speak of Currency Exchange here, it does not refer to the likes of Binance, Bittrex, HitBTC, etc. Kasi madalas pag pinag-uusapan natin ang exchange o exchange platform, marahil naiisip kaagad natin yung parang trading kung saan gagawa ka ng buy and sell order. Hindi nag-iissue ang BSP ng permit o license sa mga ganitong exchanges. Yung exchange na tinutukoy dito ay yung parang money exchange lang o conversion from fiat to crypto o crypto to fiat.

Kung kaya't ang license na binibigay ng BSP sa mga exchanges na ito ay para sa kanilang operasyon bilang remittance o transfer business lamang.

Please take a while to read the  full circular of BSP  (http://www.bsp.gov.ph/downloads/regulations/attachments/2017/c944.pdf) regarding virtual currency exchanges sa Pilipinas.