Just this afternoon, I got a notification from my Coins.ph App that CX Exchange, Coins.ph’s very own cryptocurrency exchange platform is already on its operational stage. I have been using Coins.ph since May last year for buying loads, paying bills, and doing a little of bitcoin trading.
A few months ago, Coins.ph included ETH as one of its crypto coins available for trading into PHP. I must admit, ETH has brought me more convenience and savings than BTC did. Cashout transactions from my Steemit earnings are faster and cheaper using ETH than BTC. This is one of the reasons why I was very excited when Coins.ph announced that they will be launching their own cryptocurrency exchange, and that is CX Exchange. I can already imagine trading my PHP to other cryptos other than BTC and ETH. It will surely be cheaper than doing it on other foreign crypto exchanges like Bittrex, HITbtc, and Tidex (Which I am currently using at the moment).
This is how the trading interface of CX Exchange looks like. I really find this more convenient to use since the trading prices are shown unlike the usual conversion being available in the Coins.ph app. All values relative to the cryptos you are trading are shown in PHP. On top of that, you will be able to manipulate the buying and selling price of the coins you want to trade.
At this point, I am still exploring the CX Exchange, and I just tried cashing in to see how it works. Since CX Exchange is directly linked to your Coins.ph account, you can choose three categories for cashing in (ETH, BTC, PHP) depending on your wallet’s current balance.
I clicked PHP and this tab showed up:
Again, I was given three choices: to cashin with my PHP wallet, Union Bank Deposit, and Union Online Bank Transfer. I chose the first one since I still have some PHP balance in my Coins.ph wallet. One advantage of using PHP wallet for cashing in is its instantaneous transaction. Normally, it would take hours or even days when I cashin to my currently-used Crypto exchange platforms so this is quite an impressive feature for me.
After choosing the PHP wallet option, this tutorial showed up:
It says that I can actually do the cashin through paying bills addressed to Coins Exchange through my coins.ph wallet.
I actually had some doubts about that instant transaction so I tried cashing in 50 pesos.
In just a second…
Boom! It showed up! How amazing could that be?
What’s more amazing about it is its ZERO TRANSACTION FEE! Yeah, you read it right. Zero. Transaction. Fee. I know some people cannot relate to this but it is already a big thing for me since I usually pay up to 500 pesos just for cashin transactions alone. Just imagine the amount of savings I could get in the long run. Aside from that, CX Exchange seems to accept any amount, unlike any other exchanges who require minimum amounts of cashing in.
At this point of writing, the only tradable tokens in CX Exchange are BTC and ETH. Litecoin, Bitcoincash, and Ripple have already been added but they aren’t available for trading as of this moment.
For the Filipinos who are trading some cryptos at the moment, I suggest exploring CX Exchange since the transaction fees are pretty much cheaper than the other foreign exchanges. It may have limited features right now but I am confident it will improve more in the coming days.
Previously-posted finance-related articles that you can learn from:
- Maximizing Your Steemit Earnings: Use Coins.ph for Loading Business
- A Progress of My Mom’s Ipon Challenge
- It Started With a Scam
- Three Ways to Invest in the Stock Market
- The 18th Cycle Registration for FarmOn.ph Is Now Open
- The Silent Phase of the Market Will Reveal The Investor In You
- Different Investment Vehicles that You Can Ride Towards Financial Freedom
- Factors to Consider Before You Start Investing
- A Summary of My Financial Activities for the First Quarter of the Year
- Different Budgeting Techniques
- Main Reasons Why You Are Unable to Save All-Year Round
- Should Your Long-term Savings be in Banks?
- Important Points to Consider Before Taking a Loan
- My Credit Story: How I Managed to Pay-Off Someone Else’s Debt
- Four Common Financial Mistakes a Millennial should avoid
- How do you keep track of your Income and Expenses?
- TRAIN Law and its Counter Effects to Filipino Consumers
- Are You Prepared to Invest?
- Strategies for an Effective Cash out of Steemit Earnings
- How Does Decisiveness Affect Your Finances: Explained Through Trading SBD on Bittrex
- Three Important Things to Learn from Cryptocurrency Market Crash
- Understanding Money’s Liquidity: How to Apply it to Steemit Earnings?
- Invest in Philippine Stock Market for as Low as 5,000 Pesos
- Eight Lessons From “The Budget Challenge” Everyone Must Learn From
- Invest in Learnings
- ICO – A Road to Million?
- What Is Your Budget Principle?
- Basic Understanding Of Bitcoin And Cryptocurrency