How to own your first digital coin as a beginner

Editor’s note: This press release is sponsored by PayMaya and was handled by BrandRap, the sales and marketing arm of Rappler. No member of the news and editorial team participated in the publishing of this piece.

Crypto ownership and usage in the Philippines have grown exponentially in the past years. Based on data from the Statista Global Consumer Survey, three out of ten Filipino respondents mentioned that they either owned or used a digital coin. But while more people are starting to dip their toes into crypto, many still find the concept and process of owning virtual currency overwhelming.  

For many users, crypto can be challenging. Usually, you need to download and register for a crypto account and subject yourself to a verification process. You also need to have a bank account or e-wallet app as a fund source. 

PayMaya, a BSP-licensed Virtual Asset Services Provider (VASP), designed its crypto feature to make the users’ experience more simple – bringing an all-in-one experience to budding crypto investors. 

This all-in-one crypto experience allows customers to buy, sell, and hold cryptocurrency – and even spend their earnings in just one app. With a simple and easy-to-navigate interface, anyone can start buying and selling crypto. They can even own their piece of the crypto universe for as little as P1.  

PayMaya users need only to upgrade their accounts to start trading. This can be done in just minutes with a valid ID and a video selfie. Once done, users can get started on their crypto journey.  

The e-wallet currently offers the top two digital assets, Bitcoin (BTC) and Ethereum (ETH), as well as popular altcoins and tokens Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC), and Tether (USDT). More are reportedly coming soon.  

If you’re looking to trade your first crypto coin with PayMaya, here’s how to do it:  

How to buy crypto: 

1. Tap “Crypto” on the PayMaya homepage.   

2. Tap “Buy” on the bottom of the screen, then select the desired cryptocurrency.  

3. Input the desired Philippine Peso (PHP) amount you want to spend. You will see the equivalent cryptocurrency value based on an estimated market price. Then, tap “Next” on the upper right hand of the screen.  

4. A Confirm Purchase tab will pop up. On this tab, you will see the amount in PHP you will be spending and the amount of cryptocurrency you will be receiving through this transaction. Once you are okay with the details, you may confirm your purchase and slide to buy.    

How to sell crypto: 

1. Tap “Crypto” on the PayMaya homepage.   

2. Tap “Sell” on the bottom of the screen, then select the desired cryptocurrency.  

3. Select a percentage value to sell a part of your currently owned asset. You will see the equivalent PHP value based on an estimated market price. Then tap “Next” on the upper right hand of the screen.  

4. A Confirm Sale tab will pop up. On this tab, you will see the amount of cryptocurrency you will be selling and the amount of PHP you will be receiving through this transaction. Once you are okay with the details, you may confirm your purchase and slide to sell. 

PayMaya developed this feature under its Invest platform in connection with Coinbase Institutional. Coinbase is the largest publicly traded crypto company in the world and the trusted bridge to the crypto-economy. Coinbase Institutional offers a comprehensive suite of products and services, including custody, prime brokerage, trading tools, analytics, and an enterprise infrastructure built on top of a robust security platform. Coinbase Institutional provides the scale and stability needed to successfully participate in the crypto economy. 

The PayMaya ecosystem has a solid security and reliability record, with a 99.9% app uptime record. It also offers a beginner-friendly experience that comes with in-app tutorials, step-by-step guides on how to buy or sell cryptocurrencies, and the latest relevant crypto news.  

More importantly, the experience is completely seamless – cashing in is easy throughout the e-wallet’s 110,000-plus nationwide touchpoints, with over 90,000 of these outlets providing the service for free.  

Once you are able to sell your crypto in-app, your earnings can also be used to pay for bills, buy load, shop online or in-store, or be cashed out via bank transfers in real-time – all in just one app. 

With this seamless experience, PayMaya is the easiest way to start your crypto journey.  

PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines, with platforms and services that cut across consumers, merchants, communities, and government. It provides more than 44 million Filipinos access to financial services through its consumer platforms. Its Smart Padala by PayMaya network of over 63,000 partner agent touchpoints serves as last-mile digital financial hubs in communities, providing the unbanked and underserved access to digital services.  

Through its enterprise business, it is the largest digital payments processor for key industries in the country, including “every day” merchants such as the largest retail, food, gas, and eCommerce merchants, as well as government agencies and units. To know more about PayMaya’s products and services, visit www.paymaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram. –Rappler.com