Why most people in the Philippines used to buy crypto in dollar? Why is it that majority are crypto buyers in a Company that used dollars?
Well I want to share you my experience in buying crypto. Before I used to buy crypto in IQ OPTIONS but they are not good in long term investment , only trade.Buying crypto in Iq options will make our PHILIPINE PESO MORE WEAK. Why? because they used
Dollars and not Peso . Using dollars in every transactions can make our peso more weak.
Other crypto buyers also used Binance which also dollars when you trade or invest.
If you are a Filipino, I encourage you to buy crypto in Coins.ph and Paymaya or Maya because they used peso in exchange of your crypto. It's okay if you work and earn Dollars, because the Dollars that you earned will exchange to Peso. Don't buy Dollars,Let the dollars buy our PESO. By this, you can help our Philippine Peso.The dollars is already strong and it is considered as safe haven currency and used by most people and businesses globally. But its not to late to help our Philipine peso.
Remember that our Philipine Pesos in 70th decade are strong. 1 PESO is equal to 1 Dollar in accordance to different post posted in Fb. But according to Wikipedia,the official exchange rate was ₱2 against the U.S. dollar from 1946 to 1962, devalued to ₱3.90/$ in 1962, and devalued again to ₱6.43/$ in 1970. Black market exchange rates during these periods, however, were nearly always higher than official rates(click link here) . Well, its up to us Filipinos on how we analyze and help our Philpine peso.
