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Registered CountryArea | Philippines |
Founded Year | 2018 |
Regulatory Authority | Bangko Sentral ng Pilipinas (BSP) |
Cryptocurrencies Offered | Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), Litecoin (LTC), Smooth Love Potion (SLP), Dogecoin (DOGE), WETH, SHIB, etc. |
Trading Platforms | PDAX App |
Deposit & Withdrawal | Bank transfers, e-money issuers |
Fees | Maker fee 0.4%, taker fee 0.5% |
Customer Support | Live chat, social media: Facebook, Twitter, YouTube, Telegram, LinkedIn etc. |
PDAX (Philippine Digital Asset Exchange) is a pioneering cryptocurrency exchange based in the Philippines, established in 2018 by Nichel Gaba. Driven by the vision of democratizing finance for every Filipino, PDAX seeks to remove the barriers to entry to the blockchain and cryptocurrency realm, irrespective of financial background or social status. It provides several cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), Litecoin (LTC), Smooth Love Potion (SLP), Dogecoin (DOGE), WETH, SHIB, etc.
PDAX is licensed and stringently regulated by the Bangko Sentral ng Pilipinas (BSP). Adhering to the country's laws, PDAX prioritizes security, leveraging top-notch protocols and offering an insurance-backed, audited wallet solution for added peace of mind.
PDAX envisions a future where every Filipino has equal opportunities to participate and invest in the global financial landscape. They're determined to bridge the gap between the digital financial world and the average Filipino, ensuring they're not left behind in global financial transformation.
PDAX boasts both a web-based platform and a mobile application, catering to the diverse needs of its users. Whether on the move or from the comfort of their homes, users can easily access the exchange. The platform allows users to trade the world's leading digital assets, with the advantage of direct conversion to Philippine Pesos (PHP). By doing so, it promises to offer competitive prices with reduced fees, making crypto trading more economical for its users.
Recognizing the importance of informed trading, PDAX offers a dedicated section, “PDAX Learn”, filled with resources on cryptocurrency, blockchain, and other related topics, ensuring that its users can trade with confidence and knowledge.
Pros | Cons |
---|---|
User-Friendly Interface | Subpar Customer Support |
Mobile App Available | Limited to Filipino Investors |
Regulated by BSP | Problems with withdrawal |
Pros
Cons
The regulatory situation of PDAX, in terms of licensing and regulation, is overseen by the Bangko Sentral ng Pilipinas (BSP), which acts as the regulatory authority in the Philippines. PDAX operates under the Digital Currency License, which is granted to them by FYNTEGRATE, INC. This license allows PDAX to legally operate as a virtual currency exchange platform in the Philippines, subject to compliance with regulatory requirements set by the BSP.
PDAX is designed with an emphasis on security, aiming to provide a safe platform for its users to trade. This is highlighted by the fact that their servers are hosted in world-class data centers protected by enterprise-grade firewalls. These layers of protection are intended to safeguard users' transactions from potential threats.
As of July 2023, PDAX supports a broad array of cryptocurrencies and trading pairs. These include popular and widely recognized cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Tether (USDT), as well as USD Coin (USDC). More importantly, all these can be traded against the Philippine Peso (PHP).
In addition to the mainstream cryptocurrencies, the exchange supports a variety of altcoins including, but not limited to, Chainlink (LINK), Enjin (ENJ), Basic Attention Token (BAT), The Graph (GRT), Compound (COMP), Aave (AAVE), Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT).
The platform also recognizes the growing interest in decentralized finance (DeFi) and NFT gaming tokens, and hence, includes tokens such as SushiSwap (SUSHI), Binance Coin (BNB), Pax Gold (PAXG), Decentraland (MANA), and Small Love Potion (SLP).
Furthermore, the exchange offers the trading pairs of Tether, USD Coin, and Wrapped Ethereum with Polygon (MATIC), Algorand (ALGO), and Stellar Lumens (XLM).
It also includes a range of other tokens like the popular meme cryptocurrency Dogecoin (DOGE), Smooth Love Potion (SLP), Stellar Lumens (XLM), and the trending Shiba Inu (SHIB).
By offering such a wide selection of trading pairs, PDAX caters to a diverse range of tastes and preferences in the cryptocurrency realm.
Aside from its prominent cryptocurrency exchange service, PDAX offers several other services:
2. Connect: PDAX Connect is a service feature facilitating connections between users, securities, networks, and applications.
3. Donate: PDAX offer a service enabling non-profit organizations to receive cryptocurrency donations the fast and easy way through a customized and secure donation website.
4. ScholarPay: This is a specialized feature or service catering to the educational field, a solution for making or managing tuition payments or scholarships.
5. Token Listing: PDAX allows for the listing of new tokens or cryptocurrencies on its platform. This provides opportunities for newer blockchain-based projects to gain visibility and access to traders and investors.
PDAX has its own proprietary platform managing your assets and trade on the go,which offers a mobile application for its users. The PDAX mobile application is available on both iOS and Android platforms. Through these applications, users can access their accounts, monitor market trends, execute trades, and more - all from the convenience of their handheld devices.
However, it is always recommended to download apps from trusted sources only, such as the Apple App Store for iOS devices and Google Play Store for Android devices.
1. Go to web.pdax.ph and log in to your account
2. You will be directed to the Home page then click “Trade”
3. Choose the crypto you would like to buy and switch the option to convert from PHP to selected coin/token
4. Input the amount you would like to buy
5. Check the order details provided then click on “Convert”
Note: Price quotes change every 15 seconds
6. Review your order details then click “Confirm” to proceed with your trade
7. You will be redirected and receive an email notification once your order is successful
Note: Price quotes change every 15 seconds
The registration process of PDAX consists of the following steps:
Type | Fee/Description |
---|---|
Taker Fee | 0.5% (50 basis points) |
Maker Fee | 0.4% (40 basis points) |
Taker Fee: PDAX charges a fee of 0.5% (or 50 basis points) for takers executing market orders.
Maker Fee: For maker-limit orders, the fee is set at 0.4% (or 40 basis points). It's important to note that a buy limit order placed above the current market price or a sell limit order set below the market price will automatically be converted into a taker market order, thus incurring the taker fee.
Note: Buy limit orders above market price or sell limit orders below market price will be converted to taker market orders.
PDAX Minimum Trade ValueCurrency | Amount/Increment |
---|---|
PHP | PHP 50 per transaction |
Bitcoin (BTC) | Minimum: 0.00002 BTC, Increment: 0.00001 BTC |
Deposit | Withdrawal | |
Account Level | Verified | |
Currency | All Digital Assets | Bitcoin (BTC) |
Payment Method | Wallet Payment In | Wallet Payment Out |
Fee | Free | BTC 0.001 |
Minimum | Not Applicable | BTC 0.005 |
Maximum (Per Day) | No Limit | BTC 0.3 |
The processing time for deposits and withdrawals may vary depending on the selected method. Bank transfers typically take 1 to 5 business days to complete, while e-money issuers may have faster processing times. It is important for users to consider the processing time when planning their transactions and managing their funds on the PDAX platform.
PDAX is the best cryptocurrency exchange for active traders. Its robust trading platform, comprehensive suite of trading tools, and competitive fees make it well-suited for traders who want to actively manage their portfolios and make frequent trades.
- The potential target groups of PDAX can include a variety of individuals, such as:
- Cryptocurrency traders: Both experienced and novice traders who need a reliable and user-friendly platform for trading cryptocurrencies.
- Finance enthusiasts: Individuals interested in diversifying their portfolio and willing to explore the dynamics of the cryptocurrency market.
- Remittance users: People who send and receive money across borders might use PDAX's potential remittance service.
- Donors: Users who are interested in making charitable donations directly through a secure platform.
- Students and Scholarships organizations: PDAX offers a ScholarPay service which may cater to individuals and organizations linked with education payments or scholarships.
- Tech-savvy individuals: Considering the nature of blockchain and cryptocurrency, those who have an understanding of or willingness to learn about this technology might be involved here.
- Blockchain startups: If PDAX provides token listing services, startups or individuals who want to issue their tokens on an exchange may be a target group.
It is important to note that while PDAX may be suitable for these target groups, individual preferences and trading strategies may vary. Traders should carefully consider their own needs and conduct thorough research before choosing an exchange that aligns with their trading goals and preferences.
Q: What cryptocurrencies can I trade on PDAX?
A: PDAX supports the trading of various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), Litecoin (LTC), Smooth Love Potion (SLP), Dogecoin (DOGE), WETH, SHIB, etc.
Q: How can I fund my PDAX account?
A: You can fund your PDAX account through bank transfers and e-money issuers such as InstaPay and PesoNet.
Q: How long does it take to complete a bank transfer deposit on PDAX?
A: Bank transfers on PDAX typically take 1 to 5 business days to complete.
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