How to be an Independent Woman: A Guide to Achieving Financial Independence
- By Adji Hendrawan
- March 3, 2022
The road to financial security tends to be bumpier and more challenging for women. But with the right mindset, hard work, and a sound financial strategy, women can overcome any financial challenge and secure their financial future. Learning how to be an independent woman doesn’t happen overnight, though. Apart from discovering your strong and brave self through life experiences, you should also build strong finances and strengthen them as you grow older. How to be an Independent Woman: Overcome These Challenges to Achieve Financial Independence For many women, becoming a financially independent woman is easier said than done. If you’re struggling to understand the meaning of independent woman these days because of your own financial challenges, here are some ways to help you overcome them. Difficulty Making Ends Meet Many women are barely able to manage financially. Maybe because their income isn’t sufficient, or there are just too many people financially dependent on them. As a result, there’s hardly any money left for their own needs. This is a very stressful situation to be in, especially when it’s starting to feel like you’re living your life just to work and pay the bills. What to do: Shift your focus to making more money, since being frugal and slashing unnecessary expenses can only get you so far. There are so many things you can do as a side hustle, like freelancing or opening an online shop. You can even consider asking for a raise or looking for a higher-paying job. Read more: 14 Kickass Women Share Their Favorite Financial Tips Not…
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Metrobank Online: How to Create an Account, Send Money, Check Balance, Pay Bills, and More
- By Jay Pagkatotohan
- March 2, 2022
Gone are the days when you had to rush to the bank before 4 p.m. to deposit money, withdraw funds, and pay bills. With the banking sector’s digital transformation, the term “banking hours” is slowly becoming dated. Being one of the biggest banks in the country, Metrobank makes sure that it has a reliable platform catering to its digitally savvy customers. Enter Metrobank Online. Metrobank Online is simply an upgrade from its old digital banking channel, MetrobankDirect Personal. It has a slew of enhanced features that makes banking a breeze. Whether you’re an existing or a new Metrobank accountholder looking to take your transactions online, you’ve come to the right place. Here’s everything you need to know about this bank’s new and improved online platform. What is Metrobank Online? Metrobank Online is Metrobank’s flagship online banking platform. It’s the much better and more comprehensive version of its predecessor which was permanently closed in October 2021. Through Metrobank Online, you can check your balance, send money, and pay bills in real time. It also boasts a more modern and friendlier user interface, allowing you to complete bank transactions and account-related tasks easily. And with this upgrade comes a new set of features, such as the following: Online Time Deposit: You can set aside your money and make it work for you through time deposit, which is also available in foreign denominations. UITF Online: If you have a unit investment trust fund (UITF) account with Metrobank, you can easily top up and redeem funds using the bank’s online platform. Wealth Manager:…
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For Crypto Beginners: How to Use Binance, the World’s Largest Crypto Exchange
- By Jay Pagkatotohan
- February 28, 2022
Whether you’re a seasoned crypto investor or a newbie, there’s no excuse for not knowing Binance. After all, it’s one of the leading crypto exchanges in the world. If you’re dabbling in virtual currencies and looking for a place where you can trade, Binance may make a good choice of platform. In this article, you’ll gather everything you need to know about this massively popular crypto exchange. It also comes with a short guide on how to use Binance. What is Binance and How Does It Work? Binance is a crypto exchange founded in 2017 by Chinese-Canadian coder Changpeng Zhao or CZ. Various finance publications hail Binance as the world’s largest crypto exchange. And the company has the credentials to substantiate that. Binance claims that about 1.4 million transactions are executed on the platform every second, and its website sees an average daily volume of two billion.[1] What makes Binance unique is that its exchange works in conjunction with other Binance-branded services, thus forming a sustainable ecosystem. Here are Binance’s other services: Trust Wallet: This is the official wallet of Binance where the exchange users can store their digital assets. Binance Chain: This is Binance’s blockchain software system, which is driven and run by community members around the world, such as developers and contributors. Binance Charity: Binance claims that this is the world’s first transparent donation platform. This foundation dedicates itself to innovating blockchain-powered philanthropy. Binance Academy: This is an open-access portal that provides users with learning resources and materials about crypto. Binance Info: This is a crypto encyclopedia that…
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What is PDAX and How to Trade Cryptocurrencies in It?
- By Jay Pagkatotohan
- February 24, 2022
The future of cryptocurrency in the Philippines is optimistic. Last year, the Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno revealed that the volume of crypto transactions rose nearly five times to 20 million. This means that this figure rose 71% year on year to ₱105.93 million.[1] It’s safe to say that the pandemic pushed a lot of people to try new investments and sources of income, such as virtual currencies and NFT-based games. As the country becomes more crypto-friendly, a few local fintech companies have also built crypto exchanges. If you’re an investor, it just means easier and cheaper trading. One of the most popular exchanges these days is PDAX. You might have already heard of it, which is why you’re looking for more information. So here’s a detailed primer on everything you need to know about this homegrown crypto exchange. This article also includes a guide on how to use PDAX. Read more: From Digital Art to Music: These NFT Celebrities are Earning Serious Money What is PDAX? Formally known as the Philippine Digital Asset Exchange, PDAX is a cryptocurrency exchange that’s available in desktop and mobile formats. The company’s launch in 2018 was inspired by the digital transformation happening in the finance industry globally. PDAX commits itself to helping Filipinos save on trading and conversion fees. This is possible since the exchange allows traders to buy and sell crypto directly using the Philippine Peso. Other than functioning as an exchange, PDAX also doubles as a crypto wallet in the Philippines where you can keep your digital assets. Is…
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Opening a Time Deposit in the Philippines? Know the Steps, Rates, and Other FAQs
- By Adji Hendrawan
- February 23, 2022
Is a time deposit in the Philippines a good investment option? Cliche as it may sound, the answer is “It depends.” It depends on your financial goals, as well as the bank where you’ll open a time deposit. In general, having your money held by the bank for a long time can be beneficial, except when you decide to terminate your agreement earlier than expected. Several other considerations may also affect your decision whether to go for it or invest elsewhere. Making a smart investment decision starts with knowing and understanding what you’ll be getting into. Of course, you want to grow your money, not lose it. So here’s what you need to know about time deposits in the Philippines. What is Time Deposit? A time deposit (also known as a term deposit or fixed deposit) is a type of bank account that earns a fixed interest but can’t be withdrawn over a specified term or period. Although a time deposit in the Philippines is a deposit account like regular savings and checking accounts, this bank product differs in terms of earning interest. When deciding whether to open a time deposit account or not, there are three things you should primarily consider: Interest rate – This represents your earnings when you put your money in the bank for a specific duration. Interest rates differ depending on the bank, holding period, and amount you’re willing to deposit. Holding period – This refers to the length of time in which you allow the bank to hold your money until its maturity. Deposit…
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RCBC Online Banking Guide to Managing Your Finances at Home
Rizal Commercial Banking Corp. (RCBC) saw a total of 75% growth in both the mobile and online versions of its banking app, bringing in ₱109 billion in revenue for 2021.[1] The bank has also introduced its pioneering app-based services, such as the country’s first digital investment management account (IMA) opening, digital concierge, and mobile check deposit, just to name a few.[2] It’s clearly a sign that the use of mobile and online banking in the Philippines will just continue to rise from here. That’s why it’s important to familiarize yourself with online banking. If you have an RCBC banking account, here’s how you can use RCBC Online Banking. RCBC Online Registration The good thing about RCBC Online Banking is that you can easily enroll your account through its website or through the RCBC Online Banking app. You don’t have to go to an RCBC branch or ATM to activate your online account, either. What Type of RCBC Accounts Can I Enroll? You can enroll a lot of RCBC accounts to your online account, from an RCBC bank account to RCBC credit cards. If you already have an existing RCBC online account, you can then enroll trust and loan accounts. Active Accounts Account Types: Individual Accounts Joint “OR” Accounts (JOR) “Doing Business As” Accounts (DBA) In-Trust-For (ITF) Accounts Trust Accounts (for existing users) Loan Accounts (for existing users) Products: Checking/ Savings Accounts (PHP/USD) Time Deposit (PHP/USD) RCBC MyWallet Prepaid Card Bankard Credit Card How to Enroll in RCBC Online Banking From the login page of the website or app, click Sign…
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A Quick and Easy Guide on How to Sell on Facebook Marketplace
- By Moneymax
- February 22, 2022
If there ever was a close competition between physical and online stores, the pandemic definitely tipped the balance in favor of the latter. That reality has both good and bad implications, depending on what lens you look at it through. But if you’re someone who’s interested in exploring online spaces whether as a buyer or a seller, you’ll find that many benefits await you. Commercial platforms for all kinds of products abound online. You’ve probably heard of one of the more popular ones: Facebook (FB) Marketplace. With Facebook being among the top social networking sites across the globe, FB Marketplace continues to generate buzz, especially as more businesses and consumers migrate online. If you’re curious about how to sell on Facebook Marketplace (and how to buy items as well), this quick guide is right up your alley. What is Facebook Marketplace? Launched in 2016, Marketplace is an e-commerce platform integrated into the Facebook app as a free feature. It was originally developed to capture the essence of the buy-and-sell group model on Facebook, but it eventually morphed into something bigger that makes buying selling, trading, and discovering items within local communities easier.[1] As one of the more beginner-friendly platforms connecting buyers with sellers, Facebook Marketplace sports a simple look that attracts first-time users who are otherwise intimidated by complex interfaces. Simplicity is undoubtedly its charm. Read more: How to Start a Small Business in the Philippines How to Set Up a Marketplace Account There’s no need to stress over how to get Facebook Marketplace as it’s most likely already within your…
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How to Get ITR in the Philippines: Guide to Responsible Filing of Taxes for Mixed-Income Earners
- By Moneymax
For many, having one job isn’t enough. This is especially true for those who are raising a family. Nevertheless, those who have grand plans for the future are also taking on more roles to build their savings. If you’re someone who works multiple gigs on top of your day job, you may consider yourself a mixed-income earner. At some point, you might have wondered how you’re supposed to organize your taxes. Your employer’s HR and accounting departments are already taking care of the filing of your day job’s tax. But how should you file your other gigs’ taxes? You’ve come to the right place. We’ve put together a short guide on how mixed-income earners can file their taxes. Moreover, this article covers the steps on how to get ITR in the Philippines. Who are the Mixed-Income Earners? Before you actually learn how to file mixed-income taxes, you need to know first if you’re actually a mixed-income earner. The Bureau of Internal Revenue (BIR) defines mixed-income earners as those engaged in the trade/business or profession who are also earning compensation income.[1] In other words, you’re a full-time employee at a legitimate company who also has a part-time job or a side business. Mixed-income taxpayers are different from other types of taxpayers, such as employees and full-time entrepreneurs or industry practitioners. To help you understand this better, take a look at this table. It’s safe to say that the main basis for mixed income is a full-time job. So, whether you’re a freelance writer, a part-time photographer, an influencer, or an online…
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How to Set Up Your MetaMask Wallet and Other FAQs
- By Moneymax
- February 18, 2022
Your cryptocurrency journey starts with joining a platform to access the blockchain. With numerous crypto wallets available right now, new investors and traders naturally want to get the best to safekeep all their digital assets. With that, you can try the MetaMask wallet, which is a crypto wallet downloadable as a mobile app or as a chrome extension. A MetaMask wallet may seem just like any other crypto wallet out there. But this specialized blockchain wallet allows users to do more than just store and manage their digital assets. Read on as we walk you through what you need to know about the MetaMask wallet. What is a MetaMask Wallet? A MetaMask wallet is a free crypto wallet that allows you to manage your digital currencies and assets and interact with the Ethereum blockchain. It also equips you with a secure login, token exchange, token wallet, and a key vault. Moreover, a MetaMask wallet provides data ownership by consistently generating keys and passwords from your device. This way, you get to choose what to keep private and what to share with others. Read more: 5 Essentials for Cryptocurrencies: Get Started Now What Do You Use a MetaMask Wallet For? One of the primary uses of a MetaMask wallet is to buy ETH. A MetaMask wallet lets you receive, buy, send, and swap Ethereum and NFTs. From the dashboard, you can easily click the Buy ETH button and pay via ApplePay, bank transfer, credit cards, and other acceptable payment options. Currently, MetaMask can only store your keys and proofs of ownership…
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Earn Extra This 2022 with a Loading Business in the Philippines
- By Adji Hendrawan
- February 17, 2022
Unemployment may have eased in 2021,[1] but the number of Filipinos with a stable source of income still lags behind pre-pandemic statistics. This is why many of us are exploring ways to earn more. From franchising to online selling, a loading business in the Philippines is also a great option for anyone who wants to earn extra easily. In fact, a loading business is one of the cheapest small businesses to start, with a capital of less than ₱2,000. Anyone including housewives, students, kasambahays, sari-sari store owners, and office workers can easily earn money as a prepaid load retailer. At a glance, an e-loading business in the Philippines may not seem very profitable. But it’s still a good opportunity to earn extra income on the side. With almost 130 million mobile prepaid subscribers in 2018,[2] the Philippines has a huge market for e-loading services. And it will keep growing with work-from-home and distance learning schemes being implemented. Customers will keep coming to loading stations to buy prepaid load for calling, texting, or surfing the internet. Why Should You Consider a Loading Business in the Philippines? Many people might think that the profit earned from each loading transaction is too little or not enough. However, if you do things right, a loading business in the Philippines can yield a lot of benefits to retailers. You Can Use the Load for Personal Needs No need need to look for a convenience store that sells prepaid load. From your own mobile phone, you can buy load from your SIM without the hassle. You…
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Know How to Invest in Real Estate and Boost Your Investment Portfolio
- By Moneymax
- February 14, 2022
When it comes to investing, real estate is always a sound option. Perhaps you’re already a homeowner and are looking to invest in other properties. But for Filipinos who are new to this venture, buying and owning property can seem daunting. Either way, it’s important to know the basics of how to invest in real estate. Properties have the potential for growth and stability that stocks or bonds can’t promise. Even if you’re starting as an investor with no experience whatsoever in this field—your first time buying property could end up being profitable. There are many risks to investing in any property. But as with most things, there’s a learning curve. You’ll need some experience before jumping into the deep end. It takes practice and knowledge to reap the rewards of a real estate investment. So here’s what first-time real estate investors should know about how to invest in real estate in the Philippines. What is Real Estate Investment? Real estate investment is the ownership of properties such as land, houses, buildings, and other things above and below the land for generating income, as opposed to buying just for residence or occupancy purposes. Real estate investment is one of the most well-known forms of investing, and it’s been around even before stock trading was invented. It’s considered one of the safest methods to increase your money due to constant property price increases. Even so, it takes more effort than simply laying down millions of pesos and forgetting about it for a while—or at least that’s what many people think. Buying…
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Grow Your Hard-Earned Money: How to Invest in Mutual Funds in the Philippines
One way of preparing yourself to be financially secure in the future is finding the right investment to grow your money. Stocks and bonds are just a few of the well-known forms of investments where you can put your money now and earn profits later. But did you know that mutual funds in the Philippines are also a beginner-friendly way to let your money grow? With the help of a fund manager, you can manage your investment portfolio by allowing them to make decisions on your behalf. To know if mutual funds are the right investment for you, check this guide that will help you learn how they work and how you can earn from them. We’re breaking down the basics for you, so keep reading to get a head start on investing in mutual funds in the Philippines. What is a Mutual Fund in the Philippines? A mutual fund is “an investment company that pools the funds of many individual and institutional investors to form a massive asset base,” according to the Philippine Investment Funds Association (PIFA). Some examples of mutual funds in the Philippines are funds managed by investment companies such as Sun Life, ATRAM, ALFM, Philam, and Philequity. Note that these investment companies are different from investment platforms like COL Financial and FirstMetroSec. COL’s and FirstMetroSec’s platforms provide the online tools that investors need to buy and sell mutual funds in the Philippines. They don’t manage funds like mutual fund companies do. How Do Mutual Funds Work? Mutual funds are professionally managed bonds, stocks, and other investment…
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Money’s No Problem with These 10 Savings Tips for Couples
- By Moneymax
- February 11, 2022
When couples get married or move in together, they naturally take shared responsibility for each other along with their finances. But misunderstandings about money can’t be avoided, often resulting in strained relationships. Following practical and sound saving tips for couples can help iron out the most common money problems. Still, financial plans should be laid out early on to avoid any future tension in the relationship. One of the most important and urgent matters that you and your partner should settle from the get-go is how to split your finances. How should you manage your expenses and save up for your goals? There’s no one-size-fits-all rule, so here are some financial tips for couples to help you out. Effective Saving Tips for Couples It may surprise you that you and your partner get along with everything, except with money matters. This doesn’t mean you need to break up or that you’re going to be financially miserable together. You can succeed financially together by doing the following. 1. Understand Each Other’s Money Personality The key to good financial health and a smooth-sailing relationship is knowing and understanding each other’s views and behavior towards money. Discover your money personality[1] as well as your partner’s. If you know what to expect, you can make compromises, and there won’t be as many unpleasant surprises along the way. You and your partner may not necessarily fall into these categories, but you can check out how a few things can be resolved or improved. Knowing your money personality is one useful savings tip for couples that…
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Get in the Game: What You Need to Know About Axie Infinity’s Smooth Love Potion (SLP)
Perhaps one of the good things about investing in crypto is that there’s always a new coin to watch out for. And who knows, this new coin may become the next bitcoin or Ethereum. If you’ve been dabbling in this trade for quite some time now, you’ve probably heard about Smooth Love Potion or SLP, a relatively new crypto tied to the popular blockchain-based game called Axie Infinity. Filipinos have been particularly crazy about Axie Infinity since the pandemic. For many, it’s a good source of income. The game isn’t too technically demanding, which means that you can make money easily during your free time. If you’re interested in making it big in Axie Infinity, it’s important that you understand how the SLP coin works. Check out this guide that details everything you need to know about this token. Before Anything Else: A Brief Primer on Axie Infinity To fully understand and appreciate the nature of Smooth Love Potion, it’s imperative that you have an idea of Axie Infinity’s gameplay. If you played Pokémon or Tamagotchi in the past, this should be easy for you. Axie Infinity is a game where you collect, raise, and battle cute pet monsters called Axies. Each player is required to have three Axies. And because the game’s universe runs on blockchain, each Axie is a non-fungible token (NFT), meaning that it’s unique, interchangeable, and irreplaceable. For the game to become self-sustaining, it needs to have an economy. And for an economy to work, it needs to be supported and held together by a currency….
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Buying a House at 30 is Possible―Here’s How You Can Do It
- By Moneymax
- February 9, 2022
Are you afraid of being in your 30s? You shouldn’t be. It sounds clichéd, but the best is yet to come. You can always think of this phase as an upgrade because you’ve become much wiser, bolder, and more grounded. If you think that you haven’t peaked in your 20s, the good news is that your 30s offers a lot of exciting achievements waiting to be unlocked, such as home ownership. Let go of that notion that you’re supposed to own a home before your 30s. That’s an outdated belief. After all, you’re free to buy whatever you like whenever you feel comfortable doing so. If you’re planning on buying a house at 30, we’ve created a comprehensive guide to help you out. Why Buying a House at 30 Makes Sense You might have wished that you had a high-paying job or stumbled upon a windfall during your 20s, so you could buy a house. But it’s not too late! Buying a house at 30 is actually the ideal period for home ownership. Take a look at the reasons here: 1. You’re Financially Wiser Gone are the days when YOLO was your ultimate mantra. You’ve stopped burning cash on lifestyle luxuries that prove your upward social mobility. Instead of buying handcrafted coffees every day or updating your phone every time there’s a new release, you’ve also started building your wealth through investing, freelancing, or business. Buying a house at 30 just makes sense because you’re more likely to have already taken care of your major debts, thus giving you a clean…
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Romantic and Low-Key Valentine’s Gift Ideas This 2022
- By Moneymax
- February 4, 2022
Valentine’s day is that time of the year to celebrate the special people in our lives. And with all the challenges we’ve all been through because of the pandemic, we all want to make Valentine’s Day this 2022 a memorable one through the best Valentine’s gift ideas. But looking for the best gift for Valentine’s may not be as easy as it was before the pandemic. Aside from social distancing measures and new variants silently threatening our shopping experience, we also have to consider our budget. So, if you’re planning to skip the expensive flowers and chocolates this year, check out our list of Valentine’s gift ideas that are special, romantic, and easy on the pocket, too. 7 Valentine’s Day Gift Ideas Under P500 Of course we want to lavish our loved ones with gifts that will delight them and reaffirm our love for them. But more often than not, the simplest gifts make the most unforgettable ones, too. 1. Artwork Create something that’s inspired by your partner. If you’re an artist, a portrait of your special someone will do the trick. You can also come up with a scrapbook of your relationship. Add photos, quotes, and tickets or souvenirs from your travels. Your special someone will definitely love this idea. If you’re not an artist but still want to give a gift like this, DIY painting patterns are available at an affordable price. Paint by numbers lets you complete a visual artwork by using the colors that correspond to numbers in the pattern. What’s great about it is that you…
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Investors, Beware: Common Cryptocurrency Scams and How to Avoid Them
Crypto investing can be lucrative when done right. For those whose spirits can’t be dampened by losses, it can be pretty thrilling, too. Needless to say, cryptocurrency has taken the world by storm. The technology behind it is fascinating, and its perceived gains appeal to a lot of people who want to have a better future. But crypto investing is not without risks. For one, it’s volatile. If you don’t play your cards well or you become greedy, you might lose big time. But more than that, the crypto industry’s rife with opportunists and schemers who won’t hesitate to take advantage of both seasoned and inexperienced investors. Protect yourself from fraudsters by knowing the common cryptocurrency scams. Learn about them here. What are the Common Cryptocurrency Scams to Watch Out For? Some scams are easy to identify. However, some may require sharper eyes and a more astute perception. Here are some of the modus operandi of crypto scammers. 1. Fake Coins The likes of bitcoin and Ethereum are already big and expensive, and you may have the impression that it’s too late to invest in them. As a result, you’ll look for altcoins (alternative coins) that have the possibility of getting big in the future. However, scammers will exploit this area by introducing victims to a new coin, which is actually fake and non-existent. If you invest in a fake coin, the money that you put in it goes directly to the scammer. The U.S.-based virtual currency My Big Coin is one good example of this scheme. Randall Crater, the…
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Moneymax Wins Marketing Excellence Award for “Build Your Financial Wellness” Campaign
- By Moneymax
- February 3, 2022
Manila, Philippines – February 2022. For empowering Filipinos to be financially healthy and resilient amid the COVID-19 pandemic, Moneymax was hailed the Bronze winner in the Content Marketing category at the Marketing Excellence Awards. An independent judging panel composed of high-caliber, senior industry experts from reputable brands selected the awardees for 2021. Winners were announced in a virtual awards ceremony[1] held last January 28. The Marketing Excellence Awards is a prestigious awards program that celebrates, recognizes, and rewards outstanding marketing campaigns in the Philippines.[2] It is the premier platform for marketers to showcase their creative excellence, successful strategies, and effective delivery. Moneymax Co-General Manager Munmun Nath said: “Making it as a finalist in our category—alongside highly esteemed brands like GMA Network and Ayala Malls—is already a huge honor for our team. Even more, bagging one of the top awards motivates us to strive hard to help Filipinos lead healthier financial lives through informative, engaging, and inspiring content.” Read more: 10 Reasons Why Moneymax is a Trusted Personal Finance Platform in the Philippines Helping Filipinos Achieve Financial Wellness During COVID-19 Moneymax’s win is for the campaign “Build Your Financial Wellness During the Pandemic,” addressing two key challenges consumers face: lack of financial literacy and anxiety due to debt. Data from the latest Bangko Sentral ng Pilipinas (BSP) Financial Inclusion Survey[3] revealed that financial literacy remains low in the Philippines. This makes it difficult for Filipinos to cope with COVID-19’s financial impact, the BSP noted.[4] Moreover, managing debt was a struggle for 70% of Filipinos during the pandemic, found a study by…
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Cold Feet or Something Else? 10 Signs You’re Not Ready for Marriage
You can be 35 and still not be ready to get married. Or you can be in a seven-year relationship with someone you love so much and still not be ready to make that commitment. You may even be wearing the engagement ring now and still have qualms about getting married. Maybe it’s just cold feet, or nerves, or something more. It can simply be that you’re not ready to get married yet. If you’re looking for signs you’re not ready for marriage, here are the most common ones. What are the Signs You’re Not Ready for Marriage? Don’t rush into making this big, life-changing decision. Here are the common signs you’re not ready to face the next big chapter of your life. For now, at least. 1. You’re Not Yet Financially Stable Do you want to get married but you’re not financially ready? It’s best to put those wedding plans on hold for now. Why? Because planning for marriage financially is a must. A wedding won’t pay for itself, so you and your partner need to save up for it. You also need to financially prepare for your future together. The unwritten golden rule is to have at least three months’ worth of survival money in your bank account. This will help you in the first year of your marriage when you’re starting to live on your own and paying for your own daily expenses. These expenses will also increase over time as you move along with your life to include house rent or home mortgage, maternal expenses, tuition,…
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Crypto Wallet in the Philippines―What It’s For, How to Get One, and the Best Crypto Wallets
- By Moneymax
- January 28, 2022
In the ordinary world, a wallet is a holder for money, coins, IDs, receipts, and other small important documents. But in the crypto world, a wallet plays a similar yet very different role. If you’re keen to start crypto trading, you should know what a crypto wallet in the Philippines is and what role it plays in trading first. At present, the Philippines ranks first out of 20 countries[1] when it comes to ownership of non-fungible tokens (NFT), which requires a crypto wallet. So before digital tokens can sweep the crypto world by storm, it’s time to learn about crypto wallets in the Philippines, how they work, and how important they are in managing your crypto wealth. What’s a Crypto Wallet? A crypto wallet is also known as a digital wallet or blockchain wallet. It allows users to store keys (similar to passwords) and manage their cryptocurrencies. Initially, the crypto wallet was not meant to store cryptocurrencies per se. A crypto wallet mainly kept and secured all proofs of cryptocurrency ownership because the real cryptocurrencies are stored in the blockchain. Any crypto wallet in the Philippines allows you to access the cryptocurrency you own. Through the wallet, you can trade, convert, and transfer crypto to your preferred addresses. Read more: 5 Essentials for Cryptocurrencies: Get Started Now How Does a Crypto Wallet Work? Knowing how a crypto wallet works will bring us back to its definition. Again, a crypto wallet isn’t where you store your actual currencies. The wallet only contains information on what currencies you own and their quantities. …
