Cryptocurrency is more popular in many countries throughout the world including the Philippines. Among the many people investing in the crypto world in the Philippines are the gen Zs and the millennials.
There’s nothing to worry about because cryptocurrency is legal in the country. The Bangko Sentral ng Pilipinas regulates the cryptocurrency exchanges. Under the BSP Circular 944, 17 cryptocurrencies are authorized to operate legally in the country.
Here are the top crypto in the PH:
1. Binance Coin
Among the top crypto in PH, Binance coin is the most popular cryptocurrency in the country. But investors must be aware of the expensive withdrawal costs, which may also vary on the virtual assets.
In terms of market capitalization, Bitcoin is the biggest cryptocurrency. In November 2021, Bitcoin marked an all-time high of US$68,521.
3. Tether (USDT)
It is a cryptocurrency hosted on the Bitcoin and Ethereum blockchains. The code of this crypto is USDT with a market cap of $80.46. Investors can buy tether on major cryptocurrency exchanges. It is a stable cryptocurrency making it a good investment.
4. Ripple (XRP)
Ripple XRP is the best cryptocurrency for global payments. It offers financial institutions the most reliable and fastest option to source liquidity. This digital asset is designed for payments that do not require permission for financial transactions. It is a convenient tool to bridge two different currencies efficiently.
5. Uniswap (UNI)
Uniswap is not only a cryptocurrency but also a decentralized exchange. It operates on the Ethereum blockchain and allows the user to trade without intermediary. UNI has the largest market cap in the market. It is also the first crypto that uses the Automated Market Maker model. It means that the algorithm of market prices is set considering the supply and demand.
Ethereum is second to Bitcoin in terms of market cap. Experts predict the price of Ethereum can reach 400% in 2022. The advantage of this cryptocurrency is its value grows immensely since its creation.
Investing in cryptocurrency can make money or the other way around if you’re not familiar with the crypto market. It is essential to learn the crypto market before trading. It is good to invest in cryptocurrency, but keep in mind it is a good target of criminal activity such as hacking. Thus, think many times before trading in cryptocurrency. Do research to learn ideas and techniques from experts.