BITCOIN PH: What is Bitcoin? How’s the Bitcoin Scene in the Philippines?

Bitcoin has been getting a lot of coverage on the news lately, it has been dubbed as the world’s first digital currency, magical internet money, or as some conspiracy theorists would like to think, an invention by the illuminati for world domination (riiiiight). What we can tell you is, Bitcoin is completely misunderstood and its here to stay. Do you recall when (or were you aware then of..) how the internet changed the way we consumed media and interacted with others? Bitcoin is about to change the way we think about money.

Bitcoin has had presence in the Philippines since its creation in 2009. Here are 10 things you didnt know about how its changing our local landscape day-by-day:

1. There are 2300+ members on the Bitcoin PH Facebook Group

Though small, the Bitcoin community in the country is steadily growing. There are monthly meetups for these Bitcoin enthusiasts who consist of entrepreneurs, developers, and just about anyone into Bitcoin in the country. These meetups are also open to whoever is interested in anything and everything about Bitcoin. Check out their FB page at www.facebook.com/BitcoinPH to get yourself involved.

2. There is a Bitcoin ATM in the Philippines

Brought in by the Bitmarket.ph team, this ATM is a Project Skyhook (projectskyhook.com) model, which allows users to purchase Bitcoin with their Philippine Peso. All you need is a Bitcoin wallet to receive the Bitcoin. Currently, the model is a one-way transaction ATM, but soon two-way ATMs will be available too. If you want to try out the ATM, visit the Bitmarket.ph office at Salcedo St, Makati City. You can also watch this video at www.bitmarket.ph/atm to learn more.

3. Local bitcoin exchanges in the Philippines

Want to get Bitcoin the old-fashioned way? There is the white label crypto exchange in the country that offers the service of exchanging your PHP to BTC. Try out BuyBitcoin.ph, coinXchange.com and coins.ph, if you want to get your hands into buying (or selling!) some Bitcoin.

4. You can purchase goods using your bitcoin from more than 60 merchants in social media

The Philippines has a very unique market, in the sense that there are so many merchants on social media (Facebook and instagram). Since most of these merchants are small, they have no access to credit card payments. They rely mostly on bank deposits for their transactions. Bitmarket.ph, a payment processor, marketplace and merchant directory for Bitcoin merchants, enables these merchants at no cost to accept Bitcoin. This gives them the chance to accept digital payments, and to open their market to Bitcoin users all over the world.

5. You can earn Bitcoin by posting your selfies on Bitstars.ph

Have you ever thought of earning from posting your selfies on the web? Bitstars.ph can now make that happen for you! Users who post their selfies on Bitstars.ph will have the chance at winning their daily prize of P500 in Bitcoin. Why not make money off those likes? We aren’t considered to have the selfie capital in the world for nothing.

6. Charities can accept Bitcoin for Donations.

By allowing charities and foundations to accept Bitcoin payments, they are now accessible to people all around the world who want to help out. Bitcoin has no borders. In the Philippines, Bitmarket.ph has enabled local charities such as Pledge a Banca (boats for fishermen in Tacloban) and Aislinn’s Wish (fundraiser for a filipuno child affected with a rare disease). They have been able to receive donations from Bitcoin users all over and are still continuing to do so.

7. You can buy coffee, have some wings and beer, eat Thai and Filipino fast food using Bitcoin

Aside from social media merchants, Bitmarket.ph also enables Brick and Mortar establishments to accept Bitcoin as payment. Some of these merchants include: Wingman in Acacia Estates, Silk Road Thai Bistro in The Fort, Yardstick Coffee in Salcedo Village, and 4 Manang’s Branches (Katipunan, Taft, Jupiter and Ortigas). Go and try out spending your Bitcoin at these places!

8. You can also pay for services through Bitcoin.

– For example, Brisom, Lee Grane and Rivermaya now accept Bitcoin payments for their various musical services. Baicapture’s photobooth services and Plum by Jackie Mitra-Bailon, an interior designer, also accept payments in Bitcoin.

9. The PH is one of the countries where bitcoin has the biggest potential to succeed.

– The Philippines is no stranger to red tape. Bitcoin makes it easier and simpler to transact without the hassle of trekking to banks, paying exorbitant fees, and going through all the processes. With charities having limited reach, Bitcoin enables them to accept international donations without the high transfer fees. There are half a million online merchants with no access or are unqualified to accept digital payments. Bitcoin finally allows them to integrate digital payments. We are #3 in the world in the Remittance market. Imagine if Bitcoin could eliminate high transaction fees for our OFWs?

10. Sending Bitcoin to the Philippines has never been simpler.

Remember what we said about Bitcoin being able to eliminate high transaction fees for our OFWs sending money home? Send Bitcoin to the Philippines through Rebit.ph and your families or friends back home will get the peso equivalent the next banking day. There is a flat 1% transaction fee and a real-time BTC to PHP exchange rate. Guaranteed to have the lowest fees when sending Bitcoin to the Philippines.

And with that, we are giving away Php5000 worth of Bitcoin that you can use to purchase on establishments that accepts Bitcoin!

Just follow the Rafflecopter steps below to join:

a Rafflecopter giveaway

Congratulations to John Neil Bantahinay for winning our giveaway!