When converting your Peso to cryptocurrency, you may notice a difference in the equivalent Peso amount found under your cryptocurrency balance. This is simply because of the price spread between Buy and Sell rates.
Let me give you an example here. I want to buy BTC with my 1000 PHP so I click on the Crypto button on my app and click the Convert button at the bottom of my screen.
At this moment, the buy rate of PHP to BTC is 1 BTC - 2,646,969 PHP. After I click the Slide to convert button, I immediately receive 0.00037779 BTC in my BTC wallet. I also notice that 1000 PHP was deducted from my Peso wallet.
I then check my BTC balance and see the 0.00037779 BTC in my wallet. However, the equivalent Peso amount under this only shows 958.78 PHP. Why is this no longer equivalent to 1000 PHP?
This is because the equivalent Peso amount is based on the sell rate. At the same time I converted my PHP with the buy rate of 1 BTC - 2,646,969 PHP, the sell rate was 1 BTC - 2,537,852 PHP.
Will my BTC value ever go back to an equivalent amount of 1000 PHP?
Due to volatility of BTC prices, I cannot be 100% sure if my BTC would be equal to 1000 PHP again. However, there is still a chance of this possibility in the future if the BTC prices go up and the sell rate reaches 1 BTC - 2,646,969 PHP (my original buy rate). If the sell rate goes even higher than my original buy rate, then I could even possibly have an equivalent amount of more than 1000 PHP.
On the other hand, there is also a possibility that BTC prices may go lower, so my equivalent amount would go below 958.78 PHP. Please note that the equivalent PHP value of your BTC may still change up until you convert your funds to lock in a Sell rate that you find favorable to you.
Disclaimer: Buying bitcoin and other cryptocurrencies carries a high level of risk, and may not be suitable for everyone. Cryptocurrency prices are highly volatile and can go up and down in real-time. Make sure to only buy as much as you can afford to lose.
