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Convert
Philippine Peso (PHP) to MultiversX (EGLD) Instantly

PHP PHP
EGLD EGLD
Buy MultiversX (EGLD)

Purchase MultiversX (EGLD) with Philippine Peso (PHP) easily at Switchere and benefit from fast, secure transactions.

About
MultiversX (EGLD)

MultiversX (EGLD), formerly known as Elrond, is a high-performance Layer 1 blockchain platform engineered to provide internet-scale throughput, security, and developer-friendly tools for Web3 applications. Its core mission is to solve the scalability trilemma, providing the foundational infrastructure for DeFi, NFTs, and the Metaverse without compromising decentralization. The network's impressive performance is driven by two key innovations: Adaptive State Sharding and a Secure Proof of Stake (SPoS) consensus mechanism. Adaptive State Sharding is a comprehensive scaling solution that parallelizes transaction and network processing across dynamic shards, enabling the blockchain to scale linearly with demand. This ensures low transaction costs and high throughput for a seamless user experience.

The SPoS consensus algorithm complements this scaling technology by providing enhanced security and efficiency, introducing a random selection of validators within shards to reduce latency and energy consumption. The native digital asset, EGLD, is the cornerstone of this ecosystem. It functions as a utility token for paying transaction fees, deploying smart contracts, and staking. Holders can stake their EGLD to participate in network validation, contributing to its cryptographic security while earning rewards. EGLD also serves as a governance token, allowing participants to vote on protocol upgrades, making it essential for all on-chain operations and interactions within its expanding suite of DeFi applications.

MultiversX (EGLD)

How to Buy MultiversX (EGLD)

swipe Step-by-step guidance
card Easy credit card payments
btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose PHP to EGLD Pair

    Select your preferred payment method and enter the amount.

  2. Step 2 illustration
    02

    Enter Your MultiversX Wallet Address

    Provide your EGLD wallet address and proceed with the payment.

  3. Step 3 illustration
    03

    Receive Your MultiversX

    Complete the payment, and your EGLD will be sent to your wallet.

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Frequently asked questions

  • What is the most common way to buy MultiversX (EGLD) with Philippine Peso (PHP)?

    The most common method to buy EGLD with PHP is through a cryptocurrency exchange that offers a direct PHP fiat on-ramp. Users typically utilize local payment methods like GCash, PayMaya, or direct bank transfers. These platforms require KYC/AML compliance for secure trading and often feature P2P (peer-to-peer) markets which provide competitive rates for this digital asset purchase.

  • Why is the PHP/EGLD pair important for direct access to the MultiversX ecosystem?

    The PHP/EGLD pair provides users in the Philippines with direct entry into the MultiversX network, bypassing the need to first convert PHP to USD or another major currency. This allows for faster participation in staking, using dApps, and interacting with smart accounts on a blockchain known for its high transaction throughput, enabled by its innovative Adaptive State Sharding architecture.

  • What fees should I expect when converting Philippine Peso to EGLD?

    When converting PHP to EGLD, anticipate several potential fees: a transaction fee from your payment provider (e.g., GCash), a trading or conversion fee on the cryptocurrency exchange, and the blockchain transaction fee. However, the MultiversX network is known for its low-cost transactions, so the network fee for the eGold (EGLD) transfer itself is typically minimal.

  • How can I securely store my EGLD after purchasing it with PHP?

    For optimal security, move your EGLD from the exchange to a non-custodial digital wallet where you control the private keys. The official MultiversX wallet, xPortal (formerly Maiar), is a popular choice offering features like smart accounts. For long-term holding, consider a hardware wallet compatible with the MultiversX blockchain for the highest level of security against online threats.

  • Is KYC/AML compliance required when using PHP as a fiat on-ramp for EGLD?

    Yes, virtually all centralized cryptocurrency exchanges that provide a fiat gateway for PHP to EGLD transactions will require identity verification through KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures. This is a standard regulatory requirement to ensure a secure trading environment and prevent illicit activities.
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