Purchase Bitcoin Cash (BCH) with Philippine Peso (PHP) easily at Switchere and benefit from fast, secure transactions.
Bitcoin Cash (BCH) is a decentralized cryptocurrency that emerged as a fork from Bitcoin in 2017 to address Bitcoin’s scalability issues, aiming to support faster transactions and lower fees. Designed to be more efficient for day-to-day transactions, BCH increased block size limits from Bitcoin's 1MB to 8MB initially, later expanding further to 32MB, allowing the network to handle a higher volume of transactions at a lower cost. Its ecosystem includes wallet support, merchant adoption, and cross-border payments, making BCH a practical alternative for peer-to-peer digital transactions. Bitcoin Cash has also fostered a community focused on preserving the original vision of Bitcoin as "peer-to-peer electronic cash," prioritizing usability in payments over the store-of-value narrative that Bitcoin has adopted. Its robust development team continues to innovate with features such as Schnorr signatures and new smart contract capabilities, making BCH a unique asset in the cryptocurrency landscape.
To purchase Bitcoin Cash with PHP, the most common fiat on-ramps are BSP-regulated cryptocurrency exchanges and peer-to-peer (P2P) platforms. These services typically accept local payment methods such as GCash, PayMaya, or direct bank transfers via InstaPay and PESONet, facilitating a straightforward digital asset purchase for users in the Philippines.
When using a BSP-compliant platform for a PHP to BCH transaction, users must complete a Know Your Customer (KYC) process. This typically involves submitting a valid government-issued ID, proof of address, and sometimes a selfie for verification. These Anti-Money Laundering (AML) procedures are mandatory for secure trading and ensure the digital asset exchange operates within Philippine regulations.
The Simple Ledger Protocol (SLP) allows for the creation of new tokens on top of the Bitcoin Cash blockchain. These SLP tokens can represent any digital asset, such as loyalty points, in-game items, or stablecoins. They benefit from BCH's low transaction fees and fast confirmation times, making it an efficient framework for tokenization projects.
Bitcoin Cash was designed to be a peer-to-peer electronic cash system with a focus on fast, reliable, and inexpensive transactions. For users in the Philippines, these low transaction fees make BCH highly suitable for micropayments, daily commerce, and sending remittances, as the cost of a blockchain transaction is often significantly lower than traditional financial channels.
After acquiring BCH, it is crucial to move it from the exchange to a secure digital wallet where you control the private keys. For maximum security, a hardware wallet is recommended. Alternatively, a non-custodial software wallet provides a good balance of security and convenience. Always ensure your BCH address format (e.g., CashAddr) is correct before initiating a blockchain transaction.
Yes, P2P trading is a very popular method in the Philippines for converting PHP to BCH. P2P platforms connect buyers and sellers directly, often offering more flexibility with payment methods like GCash and local bank transfers. Transactions are secured by an escrow service, which holds the BCH until the PHP payment is confirmed, ensuring a secure trading environment for both parties.