Cryptocurrency is becoming more widely accepted in the Philippines. The Filipino users are exploring more ways to convert their crypto into cash on the cheap.
Moneybees, a trailblazing over-the-counter crypto (OTC) exchange in the country, is now enabling both OTC and online transactions to exchange cash and digital currencies on the spot. This allows crypto holders to conveniently cash in their digital assets without being charged for fees and receive the funds within 10 minutes.
Users of Moneybees can purchase and sell top performing cryptocurrencies like Bitcoin and Ethereum at government-approved Moneybees Partner Outlets without the need for an online exchange.
$1.5 billion worth of transactions have been processed by local virtual currency exchanges in 2020, as recorded by the Central Bank of the Philippines. That figure is five times higher than the transaction volume in 2019.