DISCLAIMER: The statements in this article do not constitute financial advice. PDAX does not guarantee the technical and financial integrity of the digital asset and its ecosystem. Any trading in the digital asset is at the risk and discretion of the user and must be done after reasonable and thorough research and analysis.
Getting started with crypto in the Philippines has never been more convenient than with PDAX’s easy-to-navigate mobile app, available on Android, iOS and Huawei, which also offers multiple deposit and withdrawal options and security measures such as two-factor authentication ( 2FA). Under the supervision of Banko Sentral ng Pilipinas, PDAX strives to provide the best experience for your crypto trading needs.
With 34 cryptocurrencies available on the PDAX mobile app, you might still be pondering which tokens to start your trading journey with. To give you a head start, all you need to do is take a quick look at 10 of the digital assets (in no particular order) among our newly launched cryptocurrencies for this year.
- Cardano (ADA)
With a market cap of $16.8 billion*, Cardano has long been touted as the leading third-generation cryptocurrency, improving upon the features already established by Bitcoin (BTC) and Ethereum (ETH). Unlike BTC and ETH, which use “mining” in their Proof-of-Work protocol, ADA was among the first projects to spearhead Proof-of-Stake, a far more energy-efficient and scalable network protocol. Cardano is also known for its intensive academic approach, drawing on peer review and expert research throughout its development.
- Dogecoins (DOGE)
Dogecoin has a reputation for being the internet’s most popular memecoin and is being marketed as a friendlier alternative to other payment tokens like Bitcoin. DOGE carries the legendary Shiba Inu dog in its logo and has a huge following on social media and even among celebrities and billionaires like Mark Cuban and Elon Musk. DOGE currently has a market capitalization of 8.27 billion*.
- BNB (BNB)
BNB is the token that powers the Binance exchange and chain, which are among the most prominent platforms in the crypto industry. Dubbed the “Build and Build” token, BNB is responsible for the massive growth of decentralized applications (dApps) on its network and is also used to mint NFTs on Binance’s NFT marketplace. BNB also has a current market cap of $44 billion*.
- Polygon (MATIC)
MATIC is a sidechain built on the Ethereum blockchain to add a scaling solution for Ethereum’s dApps, thereby drastically reducing network congestion and transaction fees. MATIC is able to achieve this with “rollup” technology, which essentially bundles multiple transactions together for processing, achieves speeds of up to 65,000 transactions per second (TPS) with near-negligible fees, and contributes to its $7.6 billion market cap *.
- Stellar (XLM)
Stellar is a cryptocurrency designed to make international wire transfers faster, safer, and far cheaper than traditional bank and payment center transfer methods. Using blockchain technology and its own unique consensus protocol, Stellar is able to charge near-zero transaction fees and ensure that as much of the transfer funds as possible gets to the intended recipients. Stellar’s current market cap is $2.6 billion*.
- Solana (SOL)
Solana is one of Ethereum’s main competing networks, with speeds on par even with credit card companies. Using its novel Proof-of-History protocol, Solana is capable of processing up to 50,000 TPS, which has made it one of the most viable alternatives to Ethereum for dApps, metaverse and gaming applications, and NFT mining. Solana is a top favorite among crypto traders with a market cap of $11.1 billion*.
- Green Satoshi Token (GST)
GST is the rewards token for pioneer move-to-earn app STEPN, which pays its users crypto for walking, jogging, or running. Aside from allowing users to withdraw their earnings using GST, the token will also be used to repair and upgrade players’ NFT sneakers, creating more value and providing a healthy utility to one’s crypto holdings. With the PDAX mobile app, Filipino healthcare enthusiasts would also find it more convenient to cash out directly in pesos, which can then be easily transferred to one’s bank account or e-wallet. GST’s current market cap is $18.5 million*.
- Gala (GALA)
With a market cap of $353 million*, the GALA token powers the economy on Gala, a decentralized gaming platform where gamers can not only play games but also use their cryptos to help develop gaming projects to participate. Unlike large gaming companies that derive all profits from releases, Gala is a community owned platform where all revenue from their games is returned to the players themselves, a unique business model for the future of the gaming industry offers.
- Smooth Love Potion (SLP)
Smooth Love Potion is the rewards token for the hit play-to-earn blockchain game Axie Infinity, which took the country by storm with over 40 percent of network traffic generated by Filipino players. SLP is not only used to cash out one’s earnings, but also to mint or “breed” Axies – the game’s non-fungible tokens (NFTs) in the form of fluffy, adorable creatures that players use to battle each other.
With SLP’s market cap of $170 million* as of September 2022, Axie Infinity players have another good reason to use PDAX as they can withdraw their earnings directly into Philippine pesos or buy more from the exchange to enhance their game to enhance.
- Axie Infinity Shards (AXS)
Axie Infinity Shards is the governance token for Axie Infinity and will be used by players to vote on the future directions of the game and influence the overall gameplay experience. AXS can also be used to support the Axie Infinity network and earn passive rewards. Unlike Smooth Love Potion (SLP), which is available indefinitely, AXS is limited to only 27 million tokens, making it preferable for long-term holders and has led to its market cap valuation of $1.1 billion*.
*All market cap numbers are from coinmarketcap.com as of September 2022.
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