With Bitcoin (BTC) hitting almost 3 million and is taking again the forefront of mainstream media. It is impossible to avoid its reach and impact.

"close-up-view-of-a-golden-coin" by Pixabay is licensed under CC0

Even if you are not that interested before, you will take a second look now and might be considering investing in some juicy cryptocurrency.

As with any other investments, the hardest part is the first step. Several years back, if you want to enter the crypto scene, you need to create an account via an overseas cryptocurrency partner like Etoro - Click here and Binance - Click here.

Now however, you can create an account locally. This is through Coins.PH - Click here and PDAX.PH - Click here. These platforms were founded in 2014 and 2017 respectively. I’ve created an account with them when they first launched but did not focus on them until recently because I do have an account with an overseas partner.

PDAX.PH Home Page

COINS.PH Home Page

Both platforms enable you to buy cryptocurrencies and both have their strengths and weaknesses. Selecting which platform to use will mostly base on your preference and investment/trading style. I suggest opening an account on both platforms and feel which is the most comfortable in terms of usability.

Why Go Local in Terms of Platform Selection?

Advantages:

• You will be transacting directly using the local denomination, which is PHP. No need to deal with foreign exchange rates and fees when funding the account.
• There are many options available when it comes to funding the account. This can be done via cash wallets, bank transfers, and even payment centers.
• If there are any concerns, local customer service is available. If you like to go personal, then their local office is also available.

Disadvantages:

• For now, these platforms offer a limited number of cryptocurrencies compare to their foreign counterparts. There are over 2000 cryptocurrencies currently in circulation.
• Our local platform is limited for now just to buying and selling cryptocurrencies. Other iterations of blockchain technology, like the latest hot topic, that is NFT (Non-Fungible Token) is not available.

Takeaway

If you were able to enter the crypto scene during its infancy years, chances are you are using a foreign cryptocurrency exchange account. However, if you are just taking the first step, it is not wrong to give our local platforms a chance to shine. As we say. . . "Tangkilin ang Sariling Atin"

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