How to trade bitcoin PhilippinesFxPH | June 25, 2018 | 4 | Advice
If you ever wondered how to trade bitcoin Philippines then read on. A lot of people in the Philippines are looking to get started with cryptocurrencies and the most famous of all is Bitcoin. It can be quite complicated to buy and sell cryptocurrencies but one easy way to profit from the ups and downs in the price of bitcoin is to trade it via a forex broker.
When you use a forex broker such as FXPro then you don’t really BUY the bitcoin itself. This isn’t necessarily bad as it can also give you the opportunity to bet on a move down ( short bitcoin ).
When you trade with a trusted forex broker you safe all the hassle of creating some bitcoin wallet and paying ridiculous fees just to buy some bitcoin ( I’ve seen some people get charged over 10%. Thats a waste of money if you ask me() . For me as a trader its not really important to own the asset. I just want to profit when the bitcoin price moves up or down and the Forex Broker allows me just that. I can simply Buy or Sell the asset via my interface and profit from the price movement.
So how to trade Bitcoin Philippines exactly ?
Step 1 : Create a Forex account with FXPro ( read my fxpro review here) . They accept accounts from the Philippines and even offer local support!
Step 2: Upload your documents and verify the account
Step 3. Deposit at least $100 ( about 5000Philippine pesos) into your account
Step 4: Thats it no more steps are necessarily. Simply use the web interface such as MetaTrader4 ( my favorite software ) and start trading bitcoin in the Philippines.
P.s The price just dropped below $6000 ( big support level so this should be a great long entry for your first bitcoin trade) . Good luck and happy bitcoin trading
Please leave me some comments how you liked my post about bitcoin trading in the Philippines. I know my blog was mostly supposed to be about forex brokers but since bitcoin gained so much in popularity I believe its a good match for this blog. Looking forward to be reading your comments!