The direct buying of Pesobit via the Online Wallet will probably be released within the next 24 hours, just a little more tests when it comes to the crediting of Pesobits, transactions listing etc but it's pretty much 90% complete.
Why direct buying will be implemented? Since Pesobit was introduced mostly to the Filipinos, lots of users are first timers and dealing with exchanges is kinda off to some especially if this is the first time you got into the cryptocurrency field. It is easy though to get into crypto here in the Philippines because of coins.ph but getting into the exchange and navigating to finally buy Pesobit is somewhat not newbie-friendly that's why there are lots of users who are dealing with peer-to-peer transactions just to bypass the exchanges which is prone to scamming and overpricing.
The pesobits to be sold will be coming from the Development wallet which is 3rd in the rich list (
https://chainz.cryptoid.info/psb/#!rich), and the proceeds will be used to create further support in the exchanges.
How will it work?
- The minimum order is 100 PSBs
- The amount that you have to pay will be based on the price in the wallet at the time your created the order as we know that the price is varying and btc transfer takes quite some time.
- You can only have 1 pending order to avoid abuse in to the pending orders as you can set orders and wait for the price to go up then you still end up buying cheap.
- The pending order will be cancelled if no payment has been received within the next 24 hours.
- It requires 2 confirmations for the status to be marked as paid and the Pesobits ordered be credited to your account.
Be careful though with transaction fees of other bitcoin wallets, most Filipinos though who are using coins.ph doesn't have to worry about tx fees but others might.
That's it for now