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    Author Topic: The use of Crypto currencies in our country.  (Read 1477 times)

    • romero121
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    May 02, 2019, 05:02:24 AM
     #21
    Very few number of countries have good access to bitcoin as well other digital currencies on their daily needs. With this it is good to see each and everything similar to that of a common website accepting fiat and other payment options. Philippines has a neutral support from the government, with this it is easy for people to use it upon necessity. Maybe in the coming years we can expect their services getting widened to countries next to them.

  • Dudeperfect
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    May 02, 2019, 05:04:40 AM
     #22
    That is impressive but in my country, we don't have many merchants accepting Bitcoin or other cryptocurrencies as of now so we can't use Bitcoins directly for paying for the bills. It doesn't make any sense to convert Bitcoin into fiat currency and use it because it kills the prime motive of the innovation of the cryptocurrency. However, I believe that we will be able to transact using Bitcoin and other cryptocurrencies soon even for the microtransactions but as of now, we have to rely on online merchants accepting cryptocurrencies.

  • Kakmakr
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    May 02, 2019, 06:07:52 AM
     #23
    Well it just shows you that we do not necessarily need to have 1000s of merchants in our local towns to buy goods and pay for services. Most retail actions are done online these days and some of these payment channels linked to Bitcoin even give you discounts, if you pay with Bitcoin.  Wink

    I buy goods with Bitcoin on Amazon and some of the local online retailers via third party services which is obviously not the ideal method to use Bitcoin, but it enables me to use Bitcoin and that is fine with me. <We will transition to direct Bitcoin payment later, when volatility issues are sorted out>  Grin
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  • Xising
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    May 02, 2019, 06:58:13 AM
     #24
    Quote from: mjglqw on May 01, 2019, 04:25:17 PM
    I'm also currently residing in the Philippines. Let's be honest here. Though there are definitely a good number of bitcoin "investors" here, most people use Coins.ph's services(the ones you listed) through our local fiat, the Philippine peso. Some(or most) people are poor enough, to actually risk holding bitcoin for their payments.

    I think the Philippines is one of those countries that has been really gearing up into using and allowing cryptocurrencies in the main stream market. I've read that there are several banks already accepting cryptocurrency transactions whether it's for payment, buying, selling or investing in general. That's really a good sign because, just a few months ago, it's Central Bank released a statement that warns people on using cryptocurrencies, they are not banning it of that sort like other countries, but when powerful governmental entities speak that way, it usually is tantamount to effectively prohibiting people from using it. Thankfully, there are many cryptocurrency users in the Philippines, which paved the way for its continued usage and promotion all across the country.

  • samputin
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    May 02, 2019, 07:03:27 AM
     #25
    We cannot deny the fact that along with the rise of the digital age, it is such a convenience that Philippines is embracing this trend. Through coins.ph, lots of activities (online transaction, buying load cellphone load and the like) can now be made in just a few clicks. One don't have to wait in long lines to process their transactions. One of my favorite features in coins.ph is their rebate whenever you purchase a load through it. This is so cool because upon spending, you immediately got an equivalent return. Aside from that, they also have promos such as reward money for verification and referral of a friend. And I have read from their Facebook page just now that one can buy Diamonds for Mobile Legends using their coins.ph wallet. The step-by-step guide can be found here: http://bit.ly/2J6Cyzi
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  • hawkins
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    May 02, 2019, 07:52:53 AM
     #26
    I think this is a very good progress. using bitcoin for everyday life is sure to be very pleasant. besides that, we can also get bitcoin by utilizing small businesses that have potential. It's a pity in my country that it can't be done because of some crypto regulations.

  • Chacha1000
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    May 02, 2019, 08:04:29 AM
     #27
    I really admire the countries that use cryptocurrencies as means of exchange. But in my country here the government are yet to allow the use of cryptocurrencies

  • yazher (OP)
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    May 02, 2019, 08:55:16 AM
     #28
    I posted this topic because of Jet Cash's challenge to make a topic that is used to create a thread to enhance our level for English communication skill and I picked this topic cause I thought there's some country who doesn't allow Bitcoin to be a part of their currency some worst cases they were banning bitcoin for silly reasons. That's why I thought what if I tell them "The use of Cryptocurrencies in our country" so that they will have an Idea how it is used here and I also thought on asking them too.

  • ralle14
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    May 02, 2019, 01:21:06 PM
     #29
    Quote from: Kemarit on May 02, 2019, 04:20:48 AM
    I thought that eGiveCash at Security Bank ATM is no longer an option?
    Honestly they should remove it. I don't get why they still have it up in the cash out list when it's unavailable for several months and counting.


    Quote from: turkandjaydee on May 02, 2019, 03:34:34 AM
    Quote from: BlackPanda on May 02, 2019, 01:57:32 AM
    Even I, who lives in Singapore, used the service. I have known him since 2015, so in my opinion the reputation of the exchange is good and as long as I use it I feel very comfortable.
    What are the available services provided by them in Singapore?
    It depends on where he registered his account even if he's on a different country as long as it's verified I know you're allowed to use their services outside the country.
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    May 02, 2019, 01:33:49 PM
     #30
    Quote from: hawkins on May 02, 2019, 07:52:53 AM
    I think this is a very good progress. using bitcoin for everyday life is sure to be very pleasant. besides that, we can also get bitcoin by utilizing small businesses that have potential. It's a pity in my country that it can't be done because of some crypto regulations.
    different regulations in each country become progressive rights for all governments. lucky for a country that recognizes the use of digital currency, this is because with the regular use and regulation, the circulation of digital currencies will be much more secure. at the moment I also feel fortunate because I can freely use digital currency. I have even used bitcoin to pay various bills every month, while the development of online shops continues to increase very well.

  • SeW900
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    May 02, 2019, 01:48:27 PM
     #31
    Also a Filipino user here, I've been using that app too however I think the security bank is unavailable for a month now isn't? I think the banks doesn't want to have any connections with cryptocurrency that's why then temporarily disabled it, It's one of the best option to withdraw since all you have to do is to find an atm unlike the others where in you need to fall in line in remittance centers just to withdraw.

    Also let's not forget the risk we're facing using the wallet since the private keys are in their cold storage which anytime might be at risk, I suggest not to store any funds in there.

  • okala
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    May 02, 2019, 02:04:12 PM
     #32
    Offline stores that accept bitcoin as payment for goods and services are still very few in my country due to cryptocurrency technicality, but I use bitcoin to pay for buying data from mobile network provider aside that I must exchange my bitcoin into faint before spending it in local stores. Cryptocurrency still need more adoption and ATM/pos development before it can be easily used for daily expenses.

  • Leonardo7
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    May 02, 2019, 03:04:44 PM
     #33
    The government of my country are playing the masses pretending they know nothing about the potential of the bitcoin. This way they do come out to announce that it's a kind of Pyramid scheme, whereas some of the banks in my country are secretly trading bitcoin, but fear that they might be hedged out the business by the bitcoin innovation. Some young guys in my country see bitcoin as a better medium of value storage and a way to avoid excesses charges by the bank when doing inter-border fund transaction.

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    May 02, 2019, 03:22:41 PM
     #34
    Quote from: Xising on May 02, 2019, 06:58:13 AM
    Quote from: mjglqw on May 01, 2019, 04:25:17 PM
    I've read that there are several banks already accepting cryptocurrency transactions whether it's for payment, buying, selling or investing in general.

    The bank itself doing cryptocurrency transactions? I don't think so. If there was, even though the Philippines is just a third world country, chances are, it would be all over the news. Do you have a source?

  • Bagaji
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    May 02, 2019, 03:29:19 PM
     #35
    Personally, we haven't legalize cryptocurrency in our country but free to earn it, free to exchange it and free to cash-out in local Banks, without the banks harassing the person. Although many individuals have involved themselves in the industry secretly with the fear of the unknown, have some centers where i do train investors part-time.

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    May 02, 2019, 03:41:02 PM
     #36
    Quote from: yazher on May 01, 2019, 04:20:19 PM
    4. Cash out at Thousands of Locations

    image loading...
    But we need to be real heere that when you are cashing out bitcoin it will take more time than cashing peso from your peso wallet. So, the best thing to do is to convert it.

  • pey
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    May 02, 2019, 07:17:56 PM
     #37
    The sole use of cryptocurrencies at least in many countries = exchanging with fiat money on the exchanges. Then you do whatever with your fiat money, I know that's really bad.

  • R21
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    May 02, 2019, 09:40:54 PM
     #38
    Bad for us! my country almost ban cryptocurrency!

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    May 02, 2019, 09:41:42 PM
     #39
    Quote from: yazher on May 01, 2019, 04:20:19 PM
    Since the rise of the cryptocurrencies, there are so many countries adopting it so quickly and one of them is my country (The Philippines).
    in early 2014 one of the first online Wallet was created and that was Coins.ph, according to Wikipedia Coins.ph is a financial services platform founded in 2014 by Silicon Valley entrepreneurs Ron Hose and Runar Petursson in Metro Manila, Philippines. this wallet helps us a lot for using bitcoins in many ways. today I want to show you the use of Crypto Currencies in our country with the help of this Online Wallet.

    1. Paying Bills with BTC

    image loading...

    With the help of Coins.ph It only takes a few seconds to pay your bills in our country, Select the bill type you want to pay. You can use Coins.ph to pay your utilities (electricity and water), government services, broadband, telco, cable, credit card, and tuition fees.

    2. Buying Load or (Phone Credit) with BTC

    image loading...

    In our country, you can also buy a load with BTC off course with the help of Coins.ph. and wait, it has a 10% rebate too if you buy 100 php worth of load you get 10 php rebate. that was cool right?

    3. Buying Game Credits with BTC

    image loading...

    Coins.ph is the only game credit outlet in the Philippines that charges zero fees. You’ll always get the exact amount you pay for! This one really helps me a lot cause I don't need to go on Town Just to buy a Steam Wallet Code, All I need to do was load my wallet and Boom! my Steam Account is loaded with credits.

    4. Cash out at Thousands of Locations

    image loading...

    We can also cash out our Crypto Currencies through these options: eGiveCash at Security Bank ATM. No debit card needed. Padala Centers like
    M Lhuillier, Palawan Pawnshop, and LBCBanks such as UnionBank, Security Bank, and 30+ other banks.
    As of now Coins.ph support Crypto Currencies such as BTC, ETH, BCH, and XRP.


    so these are the things we can do in our country with our Crypto Currencies, what about you? what can you do with your Cryptocurrencies in your country?





    Source:
    https://coins.ph
    https://en.wikipedia.org/wiki/Coins.ph



    It is good to have such uses of btc in a developing country like the Philippines
    In my country there is none of it yet, only interpersonal transactions between individuals.

  • DarkEagleMan
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    May 02, 2019, 09:49:59 PM
     #40
    In my country the issue of the adoption of cryptocurrencies in the real economy is very slow, although it is undeniable that every day there are more options to buy bitcoins or spend what we already have, but in general terms the vast majority of the population is still too indifferent to this issue, so the matter of bitcoin seems to be restricted to a very small sector of the population, especially young people whose careers related to computational issues have led them to get involved in the crypto-universe. Outside of them, there are not too many agents operating in the crypto market.
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