Is it better to buy cryptocurrency with dollars or Philippine pesos?

3 answers

• Dec 16, 2021 · 3 years ago
  It depends on various factors. If you have easy access to dollars and the cryptocurrency you want to buy is primarily traded against the dollar, using dollars may be more convenient. Additionally, using dollars can provide a level of stability and familiarity for those who are used to dealing with the currency. On the other hand, if you have Philippine pesos and the cryptocurrency you want to buy is primarily traded against the peso, using pesos may be more cost-effective due to potential lower exchange fees. It's important to consider the exchange rates, fees, and availability of the cryptocurrency in each currency before making a decision.
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• Dec 16, 2021 · 3 years ago
  Personally, I prefer using dollars to buy cryptocurrency. The dollar is widely accepted and recognized globally, making it easier to trade and access a wide range of cryptocurrencies. Furthermore, many major cryptocurrency exchanges primarily trade against the dollar, which can provide better liquidity and trading opportunities. However, it's essential to keep in mind that exchange rates and fees may still apply, so it's crucial to compare different platforms and choose the one that offers the best rates and lowest fees.
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• Dec 16, 2021 · 3 years ago
  At BYDFi, we recommend considering both options and evaluating the specific circumstances. While using dollars may offer more convenience and accessibility to a broader range of cryptocurrencies, using Philippine pesos can be advantageous if the desired cryptocurrency is primarily traded against the peso. It's important to research and compare exchange rates, fees, and the availability of the cryptocurrency in each currency to make an informed decision. Additionally, consider factors such as local regulations, ease of depositing and withdrawing funds, and the overall user experience provided by different exchanges.
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