PDAX

Overview of PDAX

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.

Pros and Cons

Security

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.

Cryptocurrencies Available

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).

PDAX App

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.

How to Buy Cryptos？

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

How to Open an Account？

The registration process of PDAX consists of the following steps:

Visit the PDAX website or download the mobile app from the App Store or Google Play.

Click on the “Create Account” button to start the registration process.

Provide your name, email address and create a strong password for your PDAX account.

Verify your email address by clicking on the verification link sent to your registered email.

Complete the Know Your Customer (KYC) process by providing necessary personal information and submitting the required documents.

Once your account has been successfully verified, you can start funding your account and begin trading on the PDAX platform.

Fees

PDAX Trading Fees

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.

PDAX Minimum Trade Value

PDAX mandates a

minimum trade value of PHP 50 for every individual transaction

. Using Bitcoin (BTC) as an example, the

minimum transaction quantity stands at 0.00002 BTC

. Additionally, any increase in the transaction quantity is executed in

increments of 0.00001 BTC

Deposit & Withdrawal