PDAX, a regulated and licensed digital asset exchanges, lists four new coins into their portfolio. These coins are Solana (SOL), Stellar Lumens (XLM), SUSHI, and BNB.
Each of the four new coins brings unique qualities that make them worthy of consideration for your digital asset portfolio.
Solana, for one, is considered a more viable alternative to Ethereum due to its high speed and low transaction fees. Attracted by these advantages, the global NFT market in particular, is having increased interest and preference towards Solana, over the erstwhile in-demand Ethereum. In the past twelve months, SOL has seen a 21% increase in price, from $47.20 to its current price of $57.28, moving up in the coin rankings from 16th to eighth place in terms of market cap.
SUSHI is an Ethereum-based token that runs Sushi (formerly SushiSwap), a decentralized exchange platform where people can trade unique and hard-to-find cryptocurrencies that aren’t yet listed in major coin exchanges. This makes the platform especially popular among gamers. Holding SUSHI or connecting your wallet to the network to provide token liquidity entitles you to a portion of the transaction fees collected from the exchange. The Sushi platform also offers many yield farming options, allowing its users to come up with investment strategies on how to maximize their earnings from SUSHI.
XLM, otherwise known as Stellar Lumens, was designed to make transferring money as simple and affordable as possible. XLM takes advantage of blockchain technology to create digital representations of any currency, which can then be transferred seamlessly and securely via the Stellar network, drastically reducing the time and effort it takes to transfer money domestically and abroad—and with the lowest fees too.
BNB is used to avail discounts on trading fees, pay for transaction fees, and invest in other cryptocurrency projects.
Among these new coins, SOL, and BNB are currently in the top 10 most traded cryptocurrencies in the market today, based on CoinMarketCap data. With the launch of these four new coins, PDAX mobile app now offers a total of 26 coins, the most out of all the licensed local exchanges.
Fostering the growing crypto market in the Philippines
The launch of these four new digital assets on the platform puts PDAX in a great position as crypto transactions continue to grow. In the first half of 2021 alone, crypto transactions in the Philippines grew 362% year-on-year, as part of the broader acceptance and adoption of digital finance in the country. The Philippines also ranks third among 74 surveyed countries with the highest rate of crypto use, following Nigeria and Vietnam.
According to Nichel Gaba, Founder, and CEO of PDAX, the company is well-equipped to meet this growing local demand for crypto.
“As the leading digital exchange in the country, we are constantly finding ways to expand our crypto offerings and address the needs and pain points of our users,” said Gaba. “With these new coins, we hope to encourage more Filipinos to start trading crypto.”
Before this month’s rollout, PDAX made some of the coins available for early access to members of PDAX Prime, a new exclusive service that provides high-volume Filipino crypto investors full access to even more tokens. PDAX Prime gives clients access to 50 tokens, including 30 exclusive over-the-counter (OTC) digital assets.
How to trade on the PDAX mobile app
Setting up an account to trade with SOL, SUSHI, XLM, and BNB is fast, easy, and secure!
Easily cash in through a wide array of online banking, e-wallet, and over-the-counter methods.
Aside from trading your crypto on our exchange 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.