Is Binance available in the Philippines?
Yes, currently the Binance (https://binance.com) platform is available in the Philippines and we can register to buy or sell cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA) and the rest of the digital assets with the highest market capitalization. .
The list of cryptocurrencies of Binance Philippines with which we can trade on the platform is more than 300. Among them we have the main assets of the blockchain sector and also many others with greater or lesser market capitalization. The greater the capitalization of the value, the greater the stability of the asset within the large fluctuations of this market segment.
Today, this portal is one of the main exchanges in the world with absolutely astronomical figures in total daily operations and total users registered on the portal. More than 200 million spread around the world.
- Link to test the platform
How do I deposit?
To deposit money in Binance we can use several options. The most popular among Filipino investors and the rest of the world is the bank transfer. Among its advantages we find the security in the transaction, the absence of applied commissions and the possibility of sending large amounts. As a disadvantage we count the delay in the availability of the money, between 1 and 3 days.
The second of the methods to deposit money in the exchange is the one of the bank cards. Both VISA and Mastercard are accepted. As an outstanding fact, we have the speed in the transaction with which we have the capital in just a few minutes. In contrast, the charging of a 1% commission on the total transaction and the limitations on sending capital, much less than with transfers.
In addition to these more conventional options, we can use others such as ADVcash or the sending of cryptocurrencies from wallets to the portal.
How do I withdraw from Binance?
When we want to withdraw money from the exchange we can use the same options offered for deposits: bank transfers, credit cards, wallets such as Etana or specialized online payment platforms such as ADVcash.
Before doing this operation it is important to know that we have to have capital with local currency in our SPOT wallet. If we do not have money, it is this wallet but if we have it available in cryptocurrencies in our FIAT wallet we have to convert some of our digital assets into local currency. Once we make the conversion, this amount will be automatically transferred to your SPOT wallet.
To withdraw money we only have to access the “wallet” section located in the main navigation menu. Once inside we just have to mark the “withdrawal” option. By doing so, they will show us the options to make it effective with the commissions applied to each of them. In the case of bank cards, it carries a rate of 1% on the total value of the transaction. If we opt for the ADVcash platform, it does not entail any type of commission applied.
No, using the platform to buy Bitcoin and other cryptocurrencies from the Philippines is not illegal. From here you can trade digital assets and this portal is a perfect medium to do so.
What is illegal is buying, selling or trading cryptocurrencies in countries where it is prohibited, such as Japan, Turkey, Bolivia or Egypt. From these territories it is not possible to access the exchange either for registration or for trading with these assets.
There are other countries where trading futures or financial derivatives with these digital assets are regulated, limited or prohibited. It is important to know that this portal complies with the specific regulations and laws of each of them. To do this, it offers some products or others based on the geographic IP of each of its users. Thanks to this, we know that the services offered to each investor will always be consistent with the territory where they reside.
At present, Binance offers its brokerage services with cryptocurrencies in most of the countries of the world such as Canada, UK, South Africa, Malaysia, Ireland, Australia and many others until completing a list of more than 100.
Do you have an office in the Philippines?
No, the Binance exchange does not have a service office in the Philippines. To communicate with them we have to use the direct chat or the user service center. From this online help center we can find the answers to the most common queries from other users around the world. Currently, all responses are posted in English. All the questions raised are segmented by relevant categories such as security records, methods to deposit and withdraw or the way of use in the purchase of cryptocurrencies.
Today, the most relevant platforms of countless commercial sectors on the Internet do not offer user service directly but through electronic means for greater speed and lower cost in corporate expenses.
In the case of this intermediation platform with digital assets, we can affirm that the treatment received through direct chat is pleasant and fast. This is appreciated, especially in the section on speed of responses. This is how it is valued in the publications found in dozens of forums specialized in online investment or platforms with discussion groups such as Reddit and others.
How do I registration?
To registration in Binance, it is necessary to fill in the form with the usual personal data such as name, surname, username, telephone number and email. In addition, we must verify our phone number and email by sending secure codes. Finally, we only have to upload the front and back photos of our identity or residence document in the country.
The records in this exchange are classified as “maximum security” with measures aimed at fighting against scams, theft and fraud on the Internet. Due to this, we will have to confirm every 24 hours that we are the user of our account by sending a security code to our mobile device or email. This action is negatively valued by many users who rate it as repetitive. But we can affirm that this action goes in the right direction and favors the high degree of security provided by the platform towards its users and registered investors.
Additionally, every time we change mobile device, PC or internet network, we will have to confirm and verify our identity by sending these codes to our mobile number, email or both.
Social networks as an informative complement
If we want to expand the information about this exchange, we can find a perfect place on the main social networks. In them we can see videos, infographics, publications and comments related to the use of the portal.
Among the most prominent topics that we can see in these networks are the security of the platform, the records, the purchase / sale of bitcoin and other cryptocurrencies or the investment strategies most used in the short, medium and long term.
Some of these most relevant networks are:
- Twitter # binance Philippines
- Youtube # binance Philippines
- Pinterest # binance Philippines
- Reddit # binance Philippines
Our study team for this review considers to Binance (https://binance.com) to be one of the best on the market. It is not only considered by us, but by most of the experts in the blockchain sector. And what is more relevant, the more than 200 million small, medium and large investors who have chosen this platform to make their investments in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and other digital assets.
One of its great characteristics is that of the low commissions applied to purchase and sale operations. Thanks to them, this portal becomes one of the best options if we want to make short-term investments in cryptocurrencies.
Another advantage this review offers is security. We have tested countless online portals from various different sectors and this is one of the ones with the highest level of security and user verification, without a doubt. This question is especially relevant to most of your users.