What's up guys?
I see you are interested to enter the "fancy" World of Cryptocurrency, but you have a ton of questions rolling inside your brain. but fret not, I experience the same. Dwelling to the unknown is not only stomach churning but also mind boggling as well, specially to someone living in a 3rd World country like the Philippines where money ain't easy to find, but as I always said to my self, "fuck this! and lets go!".
Well I ain't gonna make a very long post about What is cryptocurrency, what is bitcoin? , what is a blockchain and all those nitty-gritty things, my dear friends, google is our friend.Do some legwork, believe me it will pay-off.
So lets dive on this 2 easy steps to pump up your "crypto-game"
Step 1: Convert our pesos to cryptocurrency
During the early days of bitcoin, I have a hard time converting my hard-earned lunch money to bitcoin but recently, more and more tech startups here in the Philippines are starting to know the potential of cryptocurrency and thus developing exchanges that convert easily your Philippine Pesos to Bitcoin.
One of my favorite is https://coins.ph/m/join/mudcgx, this app enables you to convert your pesos to bitcoin by simply depositing your money to local banks like BDO, BPI etc. but also you can even pay in the nearest 7-11 in your area to buy some bitcoins. This app will provide you two wallets in which it will enable you to have pesos and bitcoin at the same time. Also it provides other services such as paying your electricity bills, mobile load and even send some bitcoins to your friends.
Step 2: Join an exchange!
Once you have undergone the conversion of your pesos to bitcoin, you would want to join an exchange. An exchange is just like a market where people do trading with their cryptocurrency. But maybe you are thinking why would I trade my bitcoins? well some people simply like to buy bitcoins so that they can just store it in their wallet and simply wait for it its value to climb up in a span of time. but there are other people who wants to ride every wave in the cryptocurrency market, personally I like to trade my bitcoins to other alternative coins or altcoins and I like the thrilling of experience of trading daily, Well I am not guru in trading but I make decent amount of money in trading and my exchange of choice is https://poloniex.com/. This exchange is one of the biggest cryptocurrency exchange out there and supports a lot of cryptocurrencies.
You would just simply deposit your bitcoins from your coins.ph wallet to your bitcoin wallet in the Poloniex Exchange. Now you could buy your self some altcoins like steem, steem dollars, burstcoins, zcash, ethereum and many more. You could buy this cryptos when they are cheap and sell them when its high so you could develop some profit.
You can send your profit back to your coins.ph wallet and convert it again to pesos and withdraw it from your local bank or ATM machine . And Whallah! your now a cryptocurrency citizen!.
Concluding Thoughts:
This post may not contain all of the details of the world of cryptocurrency but I hope I helped you to "wet your beak" about this exciting world. And don't worry I would provide detailed guides for all of those things soon. So just stick around.
Peace out!