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| Buy and Sell Cryptocurrency with PayMaya |
Today, the digital financial services provider announced that it has added a cryptocurrency (crypto) function to its all-in-one banking app experience, allowing Filipinos to buy and earn digital assets like Bitcoin and Ethereum for as little as P1.
Cryptocurrency can be difficult for many of us. Typically, you must download and register for a cryptocurrency account, as well as go through a verification process. You'll need a bank account or an e-wallet app as a funding source.
PayMaya has made it easier than ever for us to get into cryptocurrency by delivering an all-in-one experience. There's no need to create a new account, apply for an upgrade, or download a different app. Unlike other e-wallets and apps, PayMaya allows you to learn how to use cryptocurrency, deposit funds into your wallet, buy and sell coins, and spend your cryptocurrency earnings without ever leaving your account.
To start trading in a selection of popular coins directly from your PayMaya wallet in Philippine Pesos, all you need is an upgraded PayMaya account. You can also purchase and sell cryptocurrency at any moment with no additional cash in or cash out costs.
See Also: PayMaya's Maya Bank Secures Digital Bank License from BSP
PayMaya is licensed by the Bangko Sentral ng Pilipinas as an Electronic Money Issuer (EMI) and a Virtual Asset Services Provider (VASP) (BSP). Consumers may experience safe and lawful crypto transactions because of PayMaya's excellent track record of security and reliability, including a 99.9% app uptime.
PayMaya is gradually introducing the feature to its user base. Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC), and Tether (USDT) are some of the other popular coins and tokens available for trading, with more on the way.
PayMaya developed this service in collaboration with Coinbase Institutional as part of its Invest platform. Coinbase is the world's largest publicly traded cryptocurrency startup and a trusted gateway to the crypto-economy. Coinbase Institutional provides a full range of products and services, including custody, prime brokerage, trading tools, analytics, and a corporate infrastructure built on a secure platform. Coinbase Institutional gives you the scalability and stability to succeed in the digital economy.
"We're happy to introduce this new tool to our users, especially as the number of Filipinos interested in cryptocurrencies grows. Offering crypto is a natural growth for us as we construct the Philippines' most accessible end-to-end money platform, since we are at the forefront of digital payments and financial services "PayMaya Philippines President Shailesh Baidwan said.
Every Filipino can now use cryptocurrency.
This capability is available to upgraded PayMaya subscribers via the PayMaya app. If you're new to PayMaya, signing up takes just a few minutes, and upgrading your account is simple – all you need is one valid ID and a video selfie.
You may now invest in crypto on PayMaya in a straightforward, smooth, and beginner-friendly method once you upgrade your PayMaya account.
PayMaya provides tutorials and more guided information in the app to help you understand cryptocurrency fundamentals. Once you're ready, you'll be able to buy, sell, hold, and even cash out your winnings using a smooth and easy-to-navigate interface - all in one app!
PayMaya has approximately 110,000 cash-in touchpoints across the country, with 90,000 giving this service for free. You may also use your crypto profits in various ways, including paying bills, shopping online or in stores, and cashing out via real-time bank transfers!
Begin your crypto adventure today.
How to buy cryptocurrency with PayMaya?
Follow these simple steps to buy cryptocurrency with your PayMaya app:
- Go to the PayMaya homepage and select Crypto.
- Tap Buy at the bottom of the screen, then choose the cryptocurrency you want.
- Enter the amount of Philippine Pesos (PHP) you want to spend. You'll see an equal cryptocurrency value based on an expected market price. Then, on the upper right hand of the screen, tap Next.
- A Purchase Confirmation tab will appear. This tab displays the amount of PHP you will spend and the quantity of cryptocurrencies you will receive due to this transaction. You can confirm your purchase and slide to buy once you're satisfied with the specifics.
The amount you paid for your preferred cryptocurrency will appear on the Crypto page of your app.
That's it - you're now officially a crypto enthusiast!
How to sell cryptocurrency with PayMaya?
It's just as simple to sell your cryptocurrency as it is to buy it. All you have to do is complete the following steps:
- Go to the PayMaya homepage and select Crypto.
- Tap Sell at the bottom of the screen, then choose the cryptocurrency you want to sell.
- Decide on a percentage value for selling a portion of your current asset. You'll see the corresponding PHP value based on a market pricing estimate. Then, on the upper right hand of the screen, tap Next.
- A tab called Confirm Sale will appear. This tab displays the amount of cryptocurrencies you'll be selling and the amount of PHP you'll receive as a result of the transaction. You can confirm your buy and slide to sell whenever you're satisfied with the information.
Your earnings will be automatically deposited into your PayMaya wallet. Simply check the amount on the home screen of your app. You can spend the money for your regular PayMaya transactions or have it sent to your bank account immediately once you receive it.
PayMaya hopes that more Filipinos will get interested in cryptocurrency due to this flawless experience.
PayMaya is the Philippines' sole end-to-end digital payments ecosystem facilitator, offering platforms and services for consumers, merchants, communities, and government. It delivers financial services to more than 41 million Filipinos through its consumer platforms. Its Smart Padala by PayMaya network of over 60,000 partner agent touchpoints acts as last-mile digital financial hubs in communities, bringing digital services to the unbanked and underprivileged.
It is the country's leading digital payments processor for essential industries, including "everyday" merchants like the most extensive retail, restaurant, gas, and eCommerce merchants, as well as government agencies and units, through its enterprise business. Visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram to learn more about PayMaya's products and services.