Cryptocurrency trading is the hot new thing today. It’s so popular that even some of the popular and accessible e-wallet services have started offering them, including PayMaya.
Being one of the most prominent e-wallet services in the Philippines, having crypto on PayMaya will surely help promote trading to the mainstream market. Crypto trading used to be intimidating for those who don’t have enough technical know-how, but not anymore.
PayMaya crypto has been developed in partnership with Coinbase International, one of the most trusted and regulated crypto exchanges in the world.
The crypto section on PayMaya not only lets you trade by buying and selling, but it also gives access to tips and tricks on proper trading. There’s also a guide on the basic terms, and brief explanations about cryptocurrency in general.
So, if you’re ready to buy and/or sell, here are the things you should know.
What cryptocurrencies are available on PayMaya?
Here’s a list of cryptocurrencies available to buy and sell on PayMaya. Unfortunately, SLP from the popular play-to-earn game Axie Infinity is currently not available. Hopefully, more cryptocurrencies will be supported soon.
- Ethereum (ETH)
- Bitcon (BTC)
- Cardano (ADA)
- Chainlink (LINK)
- Polkadot (DOT)
- Polygon (MATIC)
- Tether (USDT)
- Quant (QNT)
- Uniswap (UNI)
- Solana (SOL)
How to buy crypto on PayMaya
Step 1: If you haven’t already, update the app to the latest version. Open the PayMaya app and tap “Crypto” right on the dashboard.
Step 2: At the bottom of the screen, tap “Buy”.
Step 3: Choose the cryptocurrency you want to purchase. In this case, we’ll be picking “Bitcoin (BTC)”.
Step 4: Input the amount (PHP) you want to spend. If you want to type the crypto (BTC) you want to purchase instead, tap the circular change icon.
Step 5: Review the transaction before you “Slide to Buy”. Make sure to initiate the transaction before the timer runs out, or else the price will be updated to the latest available on the market.
Step 6: That’s it. You now own a cryptocurrency. From this screen, you can opt to go “Back to Invest” or “View Receipt”.
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How to sell crypto on PayMaya
Step 1: Open the PayMaya app and tap “Crypto” right from the dashboard.
Step 2: Tap the “Sell” button at the bottom of the screen.
Step 3: Choose the crypto you want to sell from your portfolio. In our case, we’ll choose “Bitcoin (BTC)”.
Step 4: Type the crypto (BTC) amount you want to sell. If you want to type the PHP amount instead, tap the circular change button. You can also input the amount via percentages (go with 100% if you want to sell all of it).
Step 5: Review the transaction before you “Slide to Sell”.
Step 6: That’s it, your crypto has been sold and converted to Philippine peso. From here you can either tap “Back to Invest” or “View Receipt.”
How to check crypto transactions on PayMaya
Go to the crypto section and tap “View Transaction History”. You’d be shown a list of your transactions, you can tap each of them to see their details.
How to check my crypto portfolio
Open the PayMaya App > Tap “Crypto” > Tap “View All” in the “Your Crypto Portfolio” section.
Is there a fee when buying/selling crypto on PayMaya?
Based on our initial test, the receipt didn’t include a service fee from PayMaya when we bought and sold crypto worth Php100.
But when we tested buying Php1.00 worth of BTC and ETH, the resulting value we got after the transaction was Php0.99 and Php0.89, respectively. This is probably from the exchange rate spread on the platform.
We’ve reached out to PayMaya for clarification on the fees on the platform, and we’ll update this article once we get more information.
Can I trade BTC to ETH and vice versa?
No. As of writing, you can only buy and sell cryptocurrencies to Philippine peso on PayMaya. Trading cryptocurrency for one another is currently not available.
What is the minimum amount for buying/selling crypto on PayMaya?
There’s only a minimum of Php1.00 when crypto trading on PayMaya.
That’s how you trade and check crypto balances on PayMaya. Let us know in the comments below if you have any questions.
Hi, any update on the fees on the regarding buying/selling crypto on the platform? From what I have heard they have high fees, have you guys clarified this? Thank you!
Based on my transactions, I found the fee of Paymaya platform to be about 2.5% each transaction (sell or buy). To profit, this means that your crypto value should earn higher than 5% to offset these transaction fees. Do others observe the same amount of deduction per transaction?