PayMaya Launches Crypto Feature, Here's Your Guide

No cash in, cash out fees.
Photo/s: Handout

PayMaya said Wednesday its users can now buy and sell cryptocurrencies using the app  is it expands digital finance services.

PayMaya users who wish to trade cryptocurrency tokens just need to have an upgraded account without extra cash in and cash out fees.

"We're excited to offer this new feature to our users – especially as more Filipinos become increasingly interested in cryptocurrency," said Shailesh Baidwan, president of PayMaya Philippines.

PayMaya said it developed the feature under its Invest platform in together with Coinbase Institutional, the largest publicly traded crypto company globally.

Crypto coins and tokens that can be traded in PayMaya so far are Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC), and Tether (USDT).

Here's your guide on how to buy and sell crypto on your PayMaya app:

To buy:

1. Tap "Crypto" on the PayMaya homepage.

2. Tap "Buy" on the bottom of the screen, then select the desired cryptocurrency.

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3. Input the desired Philippine Peso (PHP) amount you want to spend. You will see the equivalent cryptocurrency value based on an estimated market price. Tap"Next" on the upper right hand of the screen.

4. A "Confirm Purchase" tab will pop up. On this tab, you will see the amount in PHP you will be spending and the amount of cryptocurrency you will be receiving through this transaction. Once you have checked details, you may confirm your purchase and slide to buy.

5. Once you purchase your desired cryptocurrency, the amount will reflect on your app's Crypto page.

To sell:

1. Tap "Crypto" on the PayMaya homepage.

2. Tap "Sell" on the bottom of the screen, then select the desired cryptocurrency.

3. Select a percentage value to sell a part of your currently owned asset. You will see the equivalent PHP value based on an estimated market price. Then tap "Next" on the upper right hand of the screen.

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4. A "Confirm Sale" tab will pop up. On this tab, you will see the amount of cryptocurrency you will be selling and the amount of PHP you will be receiving through this transaction. Once you have checked the details details, you may confirm your purchase and slide to sell.

5. You will automatically receive your earnings on your PayMaya wallet. Simply go to your app's home screen and check the amount. 

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