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Things to look forward to with the Solana launch on PDAX

Disclaimer: This article is not meant to be taken as financial advice. Anyone interested in crypto is highly encouraged to do prior research and to seek guidance before making any investments.

Just recently, Philippine Digital Asset Exchange (PDAX), the leading homegrown cryptocurrency exchange in the Philippines, announced that it is now offering Solana (SOL) as part of the newest tokens available on its platform.

Available starting May 2022, Solana is now one of the 26 cryptocurrencies being offered by PDAX on its mobile app, alongside popular coins like Bitcoin (BTC) and Ethereum (ETH). 

This news is definitely creating excitement among Filipino crypto enthusiasts as they look forward to the potential benefits and uses of this cryptocurrency.

But what is Solana in the first place and why are crypto observers singing praises over it?

Solana is a public blockchain platform with smart contract functionality where developers can create applications and services such as play-to-earn (P2E) games and decentralized finance (DeFi) apps.

Solana’s potential and popularity lie with its speed and reliability. It is currently making a name as a more viable alternative to Ethereum due to its high transaction speeds and low fees. Attracted by these advantages, the global non-fungible token (NFT) market, in particular, is having increased interest and preference towards Solana, over the erstwhile in-demand Ethereum.

SOL has been one of the fastest growing cryptocurrencies in recent years, currently ranked ninth in the global coin rankings with a market capitalization of $17 billion as of May 2022.

Five reasons why Solana is gaining massive interest among crypto enthusiasts

This new token offers new investment opportunities for Filipino crypto enthusiasts who like holding or trading cryptocurrencies but won’t be interested in the use cases–except as proof that a project is solid to invest in. Sola appeals to casual crypto observers as well who have yet to start investing and trading. They are interested but are still learning about the industry.

The addition of Solana makes PDAX the crypto exchange with the widest coin offering in the Philippines. Other tokens that were also recently made available include Sushi (SUSHI), Stellar (XLM), and BNB (BNB).

Setting up an account to trade with SOL using PDAX

Solana is currently available on the PDAX mobile app which you can download from the Google Play Store, Huawei App Gallery, or the App Store.

For new users, simply complete the verification process to start trading with SOL. A minimum cash-in amount of PHP 200 is required to begin your trading journey.

Aside from trading your crypto on the mobile app, PDAX also offers easy transfer methods to your private wallets so you can use your assets for investing in DeFi, NFTs, yield farming and more.

Cashing-in is easy and is available in a wide array of over 30 online banking, e-wallet, and over-the-counter methods.

For more information about PDAX, visit their official website at https://pdax.ph or download their mobile app at https://bit.ly/PDAX_MobileAppDownload to start trading today!

PDAX is licensed and regulated by the Bangko Sentral ng Pilipinas.

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