Why is BTC to PHP pair important to traders?
BTC to PHP is a popular crypto-to-fiat pair in the Philippines. Since its inception in 2009, Bitcoin – the base currency of this pair – has proved to be the world’s top cryptocurrency in terms of market capitalisation and cost. Although the counter currency – peso – is widely used throughout Hispanic Latin America, including Argentina (ARS), Colombia (COP), Cuba (CUP), Dominican Republic (DOP), Mexico (MXN) and Uruguay (UYU), the PHP is the official national currency and used only in the Philippines.
The crypto market, including Bitcoin, is extremely volatile, which provides huge potential for speculation. Observing the popularity of BTC to PHP exchange transactions, there are immense opportunities for traders to profit from the pair’s trade.
BTC to PHP trading: the ultimate way to invest in Bitcoin
Although the volume of BTC to PHP crypto-to-fiat currency pair is much lower than BTC to USD, Bitcoin to PHP trading is steadily growing. The ultra-volatile nature of BTC/PHP makes it a strong alternative to traditional Forex markets.
Bitcoin traders can always profit from BTC price swings. You can either go long or short, depending on Bitcoin to PHP price movement, and benefit from the price difference.
Proven to be a lucrative investment, Bitcoin consolidates its position as the world's top cryptocurrency. With a remarkably strong start of 2020, investors share a bullish view on Bitcoin price future. Convert BTC to PHP at Dzengi.com and trade it with 100x leverage and tight spread.
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Bitcoin overview
Launched in 2009, Bitcoin introduced a new type of digital currency to the world gradually gaining worldwide popularity. Today, it is the most popular and valuable cryptocurrency on earth, serving as the gold standard for emerging cryptos.
Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. In addition to being an alternative payment network and a store of value, Bitcoin offers great opportunities to traders.
Key facts about BTC
- The first decentralised cryptocurrency
- Launched in 2009
- The brainchild of a person or group known as Satoshi Nakamoto
- The maximum number of Bitcoins is 21 million
- 80% of all Bitcoins have already been mined
- Bitcoin is considered both a commodity and a currency
- The first BTC transaction was to buy 2 pizzas
Launched at the first cryptocurrency exchange BitcoinMarket.com in April 2010, Bitcoin’s starting price was $0.0025 (₱0.13). Shortly after, the BTC price rate started to surge dramatically, generating more than a thousand per cent earnings to its initial owners.
As the cryptocurrency is not tied to any particular country or region, domestic and geopolitical factors can have less of an impact on the value of Bitcoin. Instead, you should keep an eye on its demand, adoption rates, regulations and market sentiment.
Bitcoin price chart shows BTC/PHP price rate in real-time. Analysts expect 2020 to be an important year for Bitcoin, making positive forecasts regarding the Bitcoin to PHP price.
PHP overview
In the Bitcoin to Peso pair, BTC is the base currency and the PHP is the counter currency, which means the BTC/PHP chart shows how much Bitcoin is worth as measured against the Philippine peso.
The economy of the Philippines is considered newly industrialised. The country has only recently transitioned from an agrarian economy to the industry and services-driven one. The Philippines is regarded as the next big developing country globally, which could become one of the 20 world’s largest economies by 2050.
Those, interested in the BTC/PHP pair trading, should keep a close watch of crypto market news and the Central Bank of the Philippines releases regarding interest rates and monetary policy changes.
