With the help of trusted e-wallet brand PayMaya, Filipinos can now venture into the world of virtual assets and cryptocurrencies (crypto).
Today, the digital financial services leader announced that it has launched its cryptocurrency (crypto) feature through its all-in-one financial app experience, enabling Filipinos to easily buy and earn bitcoin, ethereum and more for as little as P1 digital assets.
For many of us, Cryptocurrencies can be challenging. Usually, you need to download and sign up for an encrypted account and put yourself through the verification process. You also need to have a bank account or Wallet app as a source of funds.
With this development, PayMaya is making it easier than ever for us all to enter the cryptocurrency space by providing an all-in-one experience. No need to sign up for another account, request an upgrade, or use another application. Unlike other e-wallets and apps, you don’t need to leave your PayMaya account to learn to use cryptocurrencies, deposit cash into your wallet, buy and sell coins, and spend your cryptocurrency earnings.
All you need is an upgraded PayMaya account to start trading various most popular coins in Philippine pesos directly from your PayMaya wallet. You can also buy and sell cryptocurrencies seamlessly at any time without additional cash and cash-out fees.
PayMaya is both an Electronic Money Issuer (EMI) and a Virtual Asset Service Provider (VASP) licensed by the Bangko Sentral ng Pilipinas (BSP). With PayMaya’s excellent track record for security and reliability and 99.9% application uptime, consumers can enjoy safe and legal encrypted transactions.
PayMaya is currently gradually rolling out this feature to its base. Other popular tokens and tokens that can be traded include Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC) and Tether (USDT) , more coming soon.
PayMaya developed this feature under its Coinbase Institution-linked investment platform. Coinbase is the world’s largest publicly traded cryptocurrency company and a trusted bridge to the crypto economy. Coinbase Institution offers a full suite of products and services, including custody, prime brokerage, trading tools and analytics, as well as enterprise infrastructure built on a robust and secure platform. Coinbase institutions provide the scale and stability needed to successfully participate in the crypto economy.
“We are excited to offer this new feature to our users — especially as more and more Filipinos become more interested in cryptocurrencies. PayMaya Philippines President Shailesh Baidwan said at the highest level of digital payments and financial services Frontier, offering cryptocurrency is a natural expansion for us as we build the most accessible end-to-end currency platform in the Philippines.
Every Filipino can easily use cryptocurrency
Upgraded PayMaya users can easily access this feature on the PayMaya app. If you’re new to PayMaya, registration only takes a few minutes and you can easily upgrade your account – all you need is a valid ID and a video selfie.
After upgrading your PayMaya account, you can now unlock an easy, seamless and beginner-friendly way to invest in cryptocurrencies on PayMaya.
To help you understand the basics of encryption, PayMaya gives you access to in-app tutorials and other instructional content. When you’re ready, you can enjoy a seamless and easy-to-navigate trading interface when buying, selling, holding, and even cashing out your earnings – all in one app!
Cashing out is easy as PayMaya has over 110,000 cashing touchpoints across the country – 90,000 of which offer the service for free. You can also enjoy flexibility when enjoying crypto earnings – from using it to pay bills, shop online or in-store, or cash out in real-time via bank transfer!
How to start your crypto journey
Start buying cryptocurrency on your device PayMaya appfollow these simple steps:
⦁ Click on Crypto on the PayMaya home page.
⦁ Tap Buy at the bottom of the screen and select the desired cryptocurrency.
⦁ Enter the desired amount of Philippine Pesos (PHP) that you want to spend. You will see the equivalent cryptocurrency value based on the estimated market price. Then, tap Next in the upper right corner of the screen.
⦁ A Confirm Purchase tab will pop up. On this tab you will see the amount of PHP you will spend and the amount of cryptocurrency you will receive through this transaction. Once you are satisfied with the details, you can confirm your purchase and swipe to buy.
Once you have purchased the desired cryptocurrency, the amount will be reflected on your app’s encryption page.
With it – you are now officially into cryptocurrencies!
Selling your cryptocurrency is as easy as buying it. All you have to do is:
⦁ Click on Crypto on the PayMaya home page.
⦁ Click Sell at the bottom of the screen and select the desired cryptocurrency.
⦁ Choose a percentage value to sell a portion of the asset you currently own. You will see equivalent PHP values based on estimated market prices. Then click Next in the upper right corner of the screen.
⦁ The Confirm Sale tab will pop up. On this tab you will see the amount of cryptocurrency you will sell and the amount of PHP you will receive through this transaction. Once you are satisfied with the details, you can confirm your purchase and slide to sell.
You will automatically receive your earnings in your PayMaya wallet. Just go to your app’s home screen and check the amount. Once you receive the amount, you can choose to use it for everyday transactions with PayMaya, or transfer it to your bank account immediately.
Through this seamless experience, PayMaya encourages more Filipinos to experience cryptocurrency.
PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines, with platforms and services spanning consumers, merchants, communities and governments. It provides financial services to more than 41 million Filipinos through its consumer platform. PayMaya’s Smart Padala network of more than 60,000 partner agent touchpoints acts as the community’s last-mile digital financial hub, providing access to unbanked and underserved digital services.
Through its enterprise business, it is the largest digital payment processor in the country’s major industries, including the largest “everyday” merchants such as retail, food, gas and e-commerce merchants, as well as government agencies and units. To learn more about PayMaya products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter and Instagram
