How to buy Binance Coin from Philippines

Recommended Broker πŸ‡΅πŸ‡­
⭐⭐⭐⭐⭐
πŸ‘ŒDifficulty Low
☒️Commissions Very low
πŸ’²Minimum deposit 200$
πŸͺ™Cryptocurrencies: Binance Coin and +15 more
βš–οΈRegulated by: Cyprus Securities and Exchange Commission (CySec), United Kingdom's Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
🌐 Official website: www.etoro.com *
*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

How to buy

If you live in Philippines, the best way to buy Binance Coin is, definitely, this popular broker.

eToro*, one of the main brokers around the world, is registered and licensed, among others, by the Cyprus Securities and Exchange Commission, and therefore complies with all the regulations of the European Union, the most demanding in the world.

We recommend eToro because you can create an account for free with this broker, and its fees for trading online are very low. Besides, eToro is available in your language, accepts users from Philippines, it is really easy to manage, and its friendly interface is ideal for those who are starting to trade with cryptocurrencies and stocks.

How to sign up, step by step

The first thing you need to do is click here and fill in the fields on the right: enter your name, email, and set a password.

Then check your email inbox: you have received an email from eToro, click on the button and your account will be verified.

Once on eToro, you just have to click on “Deposit funds”, in the page menu.

There, you can choose how much money you want to add to your account (the minimum is $ 200) and the payment method:

As you can see in the image, the first deposit can be made by credit card, PayPal, or bank transfer.

How to make your first trade

As soon as eToro has confirmed the receipt of your credit, you just have to search for “Binance Coin” in the search bar, click on “Invest” and choose the amount in dollars you want to invest.

*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

What is Binance Coin?

Binance is one of the largest cryptocurrency exchanges in existence and Binance Coin or BNB is the platform's token.

Thus, Binance Coin was originally created with the purpose of covering the charges for operations within the exchange, i.e. the payment of commissions. And, since commissions can also be paid with other cryptocurrencies, the platform offers discounts starting at 25% to those who use Binance Coin.

Another feature of Binance Coin is that Binance, the exchange, on a quarterly basis does a “burn” of the BNB it receives as commission. The process of destroying Binance Coin tokens or taking them out of circulation is called “burning”.

This means that the number of Binance Coin tokens available in the market is reduced four times a year thus decreasing the supply. And we all know what happens when the supply of any asset decreases: its price increases.

The future of Binance Coin

The characteristics mentioned above allow us to be completely sure that Binance Coin the only thing it will do in the future is to increase its price. And the reason comes from the symbiotic relationship between its features which is explained as follows:

  • By offering at least a 25% discount on commissions, all traders on Binance use Binance Coin. This makes for a demand for BNB that is growing steadily over time.
  • The exchange destroys Binance Coin tokens that are used to pay trading commissions. The consequence is a sustained decrease in the supply of Binance Coin.
  • Traders, having exhausted their Binance Coin paying commissions, return to demand the cryptocurrency to continue to take advantage of the platform's discounts.

This is how on the one hand the demand increases, while on the other hand the supply decreases, bringing as a direct consequence that its price increases steadily and in the long term.

Is it a good idea to invest?

?
Totally! The last feature of this cryptocurrency is that all its tokens were already mined at the time of its release.

This implies that Binance Coin cannot be mined and can only be purchased on the exchange. Furthermore, Binance has made it clear that it will not be adding new tokens in the future.

Therefore, we think any time is a good time to invest in Binance Coin.

Pros:

  1. User-friendly and straightforward
  2. It uses other traders successful investment strategies so you can copy them
  3. Admits short-selling
  4. Leverage is allowed
  5. You can invest in countless of different goods

Homepage: www.etoro.com *

If you are interested in acquiring Binance Coin from Philippines, eToro is probably the best way to do it.

“Social trading”, a relatively new investment method that consists in replicating techniques and strategies from other experienced investors, has become popular because of eToro.

If you are still a rookie or do not have much experience in investments, eToro is very helpful. You can rest assured that you are making a smart investment since the site replicates those from subjects with a long profit record. And for those skilled investors willing to share their techniques with the community, eToro pays for it.

It is also worth mentioning how easy is to manage this platform, perfect for new traders who are starting with Binance Coin.

What are the assets you can trade in eToro?

Besides crypto, there are other financial instruments available in eToro.

Index Funds

This is the best option for people who can invest in the long term, mostly for those who are starting to trade, because it is less expensive, diversified, and safer.

Unlike a lot of people think, beating the benchmark is far from being a piece of cake and very few fund managers have done it, apart from some specific cases, like Warren Buffett's.

In practice, all that glitters is not gold: if a fund manager achieves to beat the benchmark, it is only for a short time or on a specific occasion. Or perhaps they would charge very high fees and indexing would be a better decision.

With index funds, you don't have to worry about that: although in the long term, they frequently beat active managers, and the charges are lower than you imagine.

ETFs

Exchange-Traded Funds or ETFs are a kind of passively managed fund, similar to index funds. They can be described as a combination of stocks and mutual funds, including the best features of both. They can be traded like regular stocks, but include a wide diversity of assets and have lower fees.

Commodity market

The main attraction of trading with commodities is that their price fluctuates less than that of other financial assets. Actually, their intrinsic stability is what makes people often invest in raw materials, to take refuge from economic adversities or fears of inflation. Even so, the cost of raw materials is determined by supply and demand, so if faced with the fear of inflation, demand rises a lot, so will the price.

Take into account that commodities don't pay dividends. Thus, by trading with these you will only have a further income by selling them back.

There are two main types of commodities: hard raw materials and soft raw materials. The former include precious metals (such as gold, silver, copper, and platinum), industrial metals (for instance, iron, nickel, or aluminum), and oil; and the latter are agricultural goods, such as cocoa, soybeans, rice, or sugar, among many others.

Currency market

Forex or currency trading is the exchange between a pair of currencies in order to obtain a profit through the operation.

If you decide to exchange euros and dollars, for instance, you speculate how many dollars it will take to buy a euro, with the expectation that the first currency (the euro) will increase compared to the second (the dollar), to make a profit by selling it. Suppose you entered when a euro is worth 1.10 USD and you leave when it is worth 1.15: that difference is yours once you make the operation.

As you may have already inferred, operating with currencies requires large resources, because prices rarely increase that much, or using much leverage, which could be incautious. If you are just starting in trading, we don't recommend beginning with Forex, because it is very risky and intricate.

The most common currency pairs are available on eToro. Still, take into consideration that this market functions through contract for differences, thus the underlying asset won't be yours.

Equities

The most common financial instruments are stocks or shares: these are the parts of publicly traded enterprises. It is possible to own a proportion of a company and have returns, but first, you should know where to invest your money.

Basically, there are two kinds of shares: the ones that payout at the end of every fiscal year to the shareholders, and those that don't. The former ones are great, of course, but investing in the latter can be a good idea too since sometimes you can make even more money by selling the shares.

If you invest in shares that pay out dividends, you will receive them into your account on eToro. Then, you can collect that money or you can choose to reinvest it. Nevertheless, you can benefit a lot from compound interest, so we would suggest reinvesting in the company.

Take into account that when investing in shares on eToro you can use leverage to “dope” your trades, but in that case, you will not receive dividends as it would be a contract for difference. For that reason, for long-term investments, it is better not to use leverage: you can end up not gaining at all, because you will not get dividends and also you will have to pay commissions while your position is open.

How does a demo account work?

In case you do not have much experience as an investor, the option to operate in “demo” mode may be useful. You only need to set the “virtual” option and your operations will be carried out with an imaginary balance.

real or demo trading

This is a great tool for those who want to give it a few tries before trading with real funds. When you open your account, you will start with $ 100,000 of virtual balance to do your operations, not only with Binance Coin, but you can also create a diverse portfolio with all the different assets ​​that are available on eToro.

The first attempt is not usually that good. But you can ask support to deposit back the virtual $ 100k to your portfolio.

But remember that investing is mainly about being prudent, and using a demo account can have an adverse effect. It is not the same to risk your own money than to operate with virtual funds that you don't mind losing. Also, investing virtual money can prevent you from learning to control your emotions, as a true investor should.

Evidently, if you are interested in investing in the long or medium-term, there is no point in using the virtual mode and having to wait for years. But it can be ideal if you want to practice short and medium-term investment.

How to use eToro

We mentioned before that one of the best features of eToro is how simple it is. It isn't necessary to read a lot or have previous knowledge to start trading.

You won't have any issues with the interface if you have used any other social network, like Facebook or Whatsapp.

We will explain, roughly, the registration process and the different sections that you will see on eToro.

You will have to provide some personal information when registering.

During the sign-up process, you will also find some questions about your previous experience as an investor.

But don't feel intimidated, it is not a test that you have to pass. They only intend to find out how much you know and which instruments to recommend for you.

When you finish with all the requested information, the “incomplete profile” bar will disappear.

Now we will explain the fundamental sections of the site.

“Set Price Alerts” allows you to set alarms on the price of certain assets. You just have to click on the three points at the end of the line and you will be able to program a price alarm. It is a very useful tool for when you want to purchase a security that is falling, but it seems to you that it has not finished falling yet.

The section “News Feed” allows users to interact and learn from each other by sharing their opinion and experiences.

“Discover” includes the tabs “Instruments”, “People” and “CopyPortfolios”. As we mentioned in this guide, the six types of instruments on eToro are:

  • cryptocurrencies
  • ETFs
  • Shares
  • Commodities
  • Forex trading
  • Index funds

In the section “People”, you can find the profiles of eToro users and their historical performance. This is where the term “social trading” makes sense since you can replicate the strategies of your preferred investors.

In this section, you will be able to search and find users according to your interests. When you choose an investor and indicate how much you want to invest, eToro will automatically replicate their movements, proportionally. If you have $ 1000 and the user puts 20% of their funds in an asset, the platform will also invest 20% of your money in the same company or instrument, in this case, $ 200.

You will also see the CopyPortfolios divided into three main kinds: “Top Trader”, “Market” and “Partner”.

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The benefit of copying to CopyPortfolios instead of individuals is that this way you will diversify the risk. There are all kinds of portfolios that you can find easily and are classified by sectors. So, in case you suspect a specific industry, like biotechnology or pharmacy, has good chances to succeed, you can find that specific portfolio and invest.

Do you know what “social trading” is?

The first platform that conceived trading as a social activity was eToro, and the idea became successful really quick. Other brokers have also taken this concept, but we have tried them all and eToro is still the leader.

However, their main accomplishment wasn't just creating a social networking site for traders. There are already countless sites to talk about investing, but they wanted to go further: the major contribution of eToro was to allow users to replicate the strategies of experienced traders, and to reward them latter for their knowledge.

When you access eToro you will see in the menu on the left the options “Copy People” and “Invest in CopyPortfolios”.

CopyPortfolios

“CopyPortfolios” are a kind of portfolio that bundles a number of financial assets in a certain sector. For example, if you anticipate that a particular sector will succeed in the near future but you don't know which stocks to invest in, you just have to choose a portfolio that includes a variety of related companies in that industry.

CopyPortfolio has generated a 100% profit in the last twelve months, and it is as simple as clicking on “Invest”, enter the amount, place the stop-loss and wait.

Copy People

The other option is to directly copy traders of the platform: in “Copy People” you can find eToro users who are very successful investing and whose strategies you can replicate just by clicking “Copy”.

In each user profile, you will see their risk profile (the higher the risk, the more possibilities of earning more and losing more), their performance, and the type of financial instruments they operate..

Besides duplicating other user's strategies, which is great and very helpful, we also recommend that you benefit from the community by reading other users. You can learn a lot from their experiences, mainly if your goal is to make a living from trading.

Common questions

How much is the minimum deposit?
The minimum deposit required is 200USD.

When will I be able to withdraw my money?
Whenever you want. You just have to close your Binance Coin investment, click on “Withdraw Funds” and that's all.

What deposit methods can I use?
Available payment methods are: PayPal, Bank Transfer, Credit Card, Rapid Transfer, Klarna / Sofort Banking, Neteller and Skrill

* Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.