What we need to do next is just purchase another cryptocurrency and then transfer it to an exchange that currently supports trading PHL. To use a bank account, you’ll just need to select you back account, give Coinbase some information about the account, and then waiting for the account to be verified. Sometimes this verification is automatic depending on the relationship Coinbase has with your banking institution, otherwise it might take a few days as Coinbase will make a couple small deposits in your account that you’ll need to verify.
- If you are holding your assets these wallets are a good investment in our opinion.
- Coinbase currently does not support the purchasing of Philcoin, however don’t worry.
- In the right column there is a search bar, now make sure “USDT” is selected as we are trading USDT to altcoin pair.
- Coinbase has both an iOS (iPhone) and Android app to manage your account, however the easiest way to create an account with them is to use their website.
Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees. It is a marketplace where users can buy and sell Bitcoins to and from each other.
We’ve put together this quick step-by-step guide to show you how to buy Philcoin (PHL) using US Dollar. Philcoin aims to stimulate global development by facilitating the dissemination of relevant skills within communities of interest, fully acknowledging and engaging with the issue of uneven access to technology in developing economies. This can be achieved with our partnership with the SDG Impact Fund.
Where Do I Actually Buy Philcoin
Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you’re done with it you should have full access to your exchange wallet. A word of advice, now that you’ve made your first investment in Philcoin (PHL), you should MAKE SURE to track your investment. Even though the exchange you purchased Philcoin at does this for you, using a third-party website or app makes it a whole lot easier. You can either scroll to PHL or type it in the “Search all assets” box.
Fill out how much US Dollar you’d like to invest in and click the “Buy” button and … You’ve purchased your first cryptocurrency using USD on Coinbase. Once you’ve completed that portion, the next step will be a photo verification. Since we are discussing how to purchase [coin] [symbol] using US Dollar, we are assuming you are a US resident.
Nowadays, most people prefer to use hardware cold wallets, if you want to store a large number of coins or tokens, you can choose to use a hardware cold wallet to store your assets. Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe.
All you need to do is click on the “Prices” option in the top menu bar and you’ll see a list of all the supported cryptocurrencies on Coinbase. The nice thing about Coinbase is there is no upfront waiting period—simply sign up, confirm your email address, and you’re all set. Alternatively you can create your own wallet, here we will use MetaMask as an example to show you how to set up your wallet. Philcoin’s mission is to help build a digital economy while chatting, participating in educational programs, accessing entertainment, playing video games and shopping. Our educational system and philanthropic partnerships allow everyone an equal opportunity in generating digital wealth through an BEP20 Token marked “PHL”, using Smart contracts which demonstrate a high level of a transparency and user-friendly environment. This will all be achieved while fulfilling the purpose of the 17 Sustainable Development Goals of the United Nations and every humanitarian support garnered within our ecosystem.
To add a payment method to your account, you can either click on the “Add payment method” box that appears at the top of the main screen on Coinbase, or click on your profile photo then settings then payment methods. The Philcoin price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies. Click on Connect Wallet if you haven’t done so already. Otherwise you should be able to see your BNB balance here at the from field, enter the amount you would like to exchange for PHL and then on the to field, choose PHL from the dropdown, the corresponding amount of PHL should show up immediately. In the next screen, confirm the transaction once more by clicking Confirm Swap.
Step Two: Add a payment (funding) method to your Coinbase account
As with more sign-up processes, the next step will be Coinbase sending you an email to verify your email address. Once you receive the email just click on the link and you should now have access to your Coinbase account. Robinhood also has the same limitations as Paypal (or Venmo) where they “don’t currently provide you with access to your wallet or your wallet address” which means they do not offer a way for your to transfer your crypto out of Robinhood.
Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. Is after all a good place to go to buy Bitcoins when you can’t find your desired payment methods anywhere else.
BitMart is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. You’ve purchased Philcoin (PHL) using USD with the help of another crypto exchange. Limit price says you want to purchase a certain amount of Philcoin (PHL) at a specific price. If the price of PHL gets to that price your order will be processed. Remember, with how volatile the market is, there is no guarantee the price will drop to your limit price.
When funding using a bank account you’ll have more purchasing (buying) power than a credit card. After adding the network, switch to the network on MetaMask and you should be able to see your BNB balance on the Binance Smart Chain. Now copy the address to clipboard by clicking on the account name.
Are there any alternative platforms to buy PHL or Bitcoin with credit cards?
Traders should always do their own research and be extra careful while investing in cryptocurrencies. PHL has been down 27.3 percent over the last three months, and with its small market capitalization, it is very likely that such price movement may continue. However three months is still considered early in the crypto world and it is also likely that PHL’s price may bounce back if it has a solid team and has delivered what they promised on their white papers. Therefore traders should be careful and should research thoroughly and see if PHL is backed by a solid development team and whether PHL’s technology has any potential to grow. In the right column there is a search bar, now make sure “USDT” is selected as we are trading USDT to altcoin pair.
Coinbase will ask you for your full legal name, address, date of birth, and a few other personal questions. Coinbase assumes that you are signing up for an Individual investment account so the next part of the sign up process deals with verifying your identity. Coinbase has both an iOS (iPhone) and Android app to manage your account, however the easiest way to create an account with them is to use their website. If you already have a Coinbase account, skip to step two.
If that’s the case you can either upload your Driver’s License, State ID card, or passport to verify your identity. The next part sometimes changes (we are guessing Coinbase does a lot of user testing) but normally you are then asked for your mobile phone number. This is 100% so you can setup your Two-factor authentication (2FA) to make your account even more secure. We have never seen a spam message came from this, rather it is only used to login to your account and alert you to any major account changes. Staking is a great way to maximize your holdings in staking coins that would otherwise be sitting in a wallet or trading account.
Many exchanges does not allow investors from USA as customers. As far as we can tell, BitMart is not one of those exchanges. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency. Now you need to send that purchased cryptocurrency to your new exchange’s wallet. Since we don’t want to miss any steps in this important process, click here to view the official how-to guide from Coinbase on transferring your currency to another wallet.
Transfer BNB to your own wallet
On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person. But we are not done yet, since PHL is an altcoin we need to transfer our USDT to an exchange that PHL can be traded, here we will use BitMart as our exchange.
Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold. Here comes the backup phrase generation step, on the screen you will see a list of random words appearing after you click “reveal secret words”, write these words down on a piece of paper and do not ever save them online, anywhere. For extra security you may even consider getting a Cryptosteel Capsule from Ledger to store your phrases securely and physically.
Now click on the MetaMask icon on the extension bar on the browser and unlock your wallet with your password. Next choose a secure password to secure your MetaMask wallet, this password is not your private key or seed phrases, you only need this password to access the Chrome Extension. Now head back to UpHold, go to the Transact screen and click on USDT on the “From” field, choose the amount you wan to send and on the “To” field choose USDT under “Crypto Network”, then click “Preview withdraw”. After going through a similar process as we’ve done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account. As with the whole account process, Coinbase made the purchase of a cryptocurrency very simple and straight-forward. Next you should see a pop-up asking you for a few more account details such as your first and last name, re-confirming your email address (really annoying as sometimes this will show up as blank), setting a password, and the state you live in.
Now MetaMask should pop up and ask you if you want to allow PancakeSwap to spend your BNB, click Confirm. Wait for the confirmation screen until it shows “Transaction Submitted”, congratulations! After a short while you should be able to see your PHL balance on your MetaMask Wallet. Once you have saved your seed phrases securely, confirm on the next screen by verifying them. Read the tips once more to ensure you’re fully aware of the security issues and click all done, now your wallet is ready.
Copy the USDT address and head back to UpHold, withdraw your USDT to this address and wait for it to arrive, this should take around minutes depending on usage of the USDT network. Now go back to BitMart and head to your exchange wallets, don’t worry if you haven’t seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive.