Binance is now banned in the PH

Bitcoin Talk and Cryptocurrencies
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I have to read more about this, but I was kinda surprised that I came across this news on Tiktok. :open_mouth: I feel like it’s only recently when Filipinos got interested in crypto and NFTs again, but I bet this will have a significant impact. :thinking:

2

They said you should still be able to access it if you use VPN, but that also comes with its own risks. :confused: :thinking: Any other Filo here who’s been using Binance? :open_mouth:

3

I also heard Crypto is banned at India. I think if there is demand and if that country is not North Korea, then people can overcome the barrier with some tricks like VPN, Proxy, VPS.

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4

You’re right, the interest in crypto and NFTs has been picking up again in the Philippines, so this ban could really shake things up. I’m curious to see how this will impact the crypto scene there.

5

Yeah. :open_mouth: Although people are kinda questioning if accessing it via VPN is still worth it. I even saw in a discussion that with Binance’s money laundering issue, a lot of banks will not support the money if it went through Binance. :open_mouth: What do you think? :thinking:

6

Actually, when I had crypto, I mostly used Coins.ph and GCash. :thinking: But apparently, p2p transactions among Filipinos is quite common so some are resorting to this. I’ve been hearing platform options like Bybit and Kucoin. :open_mouth: I just don’t know much about their credibility though.

7

Are there any crypto exchanges in the Philippines? What’s the go-to exchange now that Binance is banned? Bybit or OkX?

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I feel like a lot of people are still with Binance, but are using VPN. :open_mouth: But because of the ban, rather thana the traditional exchanges, there are more people who do the p2p transactions. :open_mouth:

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But since I’ve seen more people mention Bybit compared to OKX, when it comes to the platform, I think Bybit is more popular right now. :thinking:

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Here’s a good look at the top 8 centralized exchanges across the world.

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Bybit is 3 and OKX is 4. So either should be good. Bybit gets 35% more visits and has 30% more volume, at least today.

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Thanks Billy! :blush: I’m sure there are Filipinos also using the other exchanges. Just that none are as popular as Binance or Bybit at the moment. :sweat_smile:

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Bybit should be good to transition to.

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Irony is Crypto looks pretty damn centralized for a “digital currency” trying to achieve the exact opposite.

Hehehe!

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Lots of centralization going around, exactly. There are definitely varying degrees of decentralization. As long as you know what you’re getting into…

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I have a question, is only Binance banned in PH and how’re other Exchanges as OKX, Bybit? Or is there any way to pass by the restriction and trade with Binance for PHer?