How to Buy Bitcoin ter the Philippines
How to Buy Bitcoin ter the Philippines
Very first let mij commence by telling that I’m not an accomplished at cryptocurrency or Bitcoin BUT I want to learn spil much spil I can about it. The best way for mij to learn is by doing (I’m not indeed the academic type) so I’ll be sharing with you guys everything that I learn about Bitcoin, blockchain technology, and cryptocurrency ter this fresh section on Unbox called Bitcoin Philippines.
For this inaugural postbode I’ll kick things off by sharing what my Bitcoin strategy is and then I’ll share how I’m buying Bitcoin te the Philippines.
My Bitcoin Strategy
For mij Bitcoin is an a “Hail Mary” type of asset. The risk is high but the comes back are also amazingly explosive. That said I want to mitigate the risk spil much spil possible. My project is to set aside 5%-10% of monthly savings and use it to buy Bitcoin (and other Altstem Coins) regardless of the current price. From there it’s a waiting spel to see when the best time is to contant out. I’ve already invested some money ter it and the comes back have bot outstanding.
Chic from doing Bitcoin, I also want to learn about Altstem Coins and Initial Coin Offerings (ICOs). Again the best way for mij to learn is by doing, so I’ll just leap right into it. My project right now is to explore how to buy Etherium and then attempt to support one ICO (preferably a company ter Asia). I will chronicle my practices here on Unbox spil well spil movies on the Unbox Facebook Pagina.
How do I Buy Bitcoin te the Philippines
I buy Bitcoin using an app called Coins.ph. Think of it spil your e-wallet for Bitcoin. I use them because they have the easiest user interface AND they were accredited by the Central Bankgebouw of the Philippines. If you want to get into this with mij, download the Coins.ph app, sign-up for an account, and use my referral code so you get Php50 ter your wallet after you get validated.
My referral code: r39g8y
For utter disclosure I’ll also make Php50 when you get validated. Win-win, hehe.
There are several options to “load” your Coins.ph wallet with pesos so that you can convert it to Bitcoin. You just tapkast the “Cash In” option on the app and then pick which way you want to flow it up. You input the amount and then you’ll get instructions how to do it. For 7-11 it’s straightforward. The app will give you a tapkast code and you jsut have to go to 7-11, voorstelling the caf code, and pay. It instantly emerges on your Coins.ph wallet.
Here are the current available options on the app:
- Cebuana Lhuillier
- M Lhuillier
- Online Canap Transfer (BPI, Security Canap, UnionBank)
- Overheen the Toonbank Bankgebouw (Chinabank, UnionBank, BPI)
- Remittance Center (Bayad Center, Cebuna Lhullier, LBC Bills Xpress, M Lhuillier E Pay)
- Malls (Robinson’s and SM Business Centers via DragonPay)
If you want no fees, you can go with UnionBank. If you want convenience, you can go with 7-11 but they have a modest toverfee that you pay for. I’ve attempted using 7-11 and Online Bankgebouw Transfer via BPI and DragonPay. Both worked. Will be attempting out UnionBank this week.
After loading with pesos, I convert them to Bitcoin. The Coins.ph app will showcase the Peso Value of the Bitcoin almost ter real time.
Is There a Ondergrens to Buy Bitcoin via Coins.ph?
No but I suggest you guys geyser at least Php500 to see how it works so you can appreciate how it works and learn spil much spil you can from it.
Did I Make Money on Bitcoin?
I bought Bitcoin when it wasgoed te the 1 BC = $7,000 USD. It’s now nearing 1 BC = $Ten,000 USD.
How do I Withdraw my Bitcoin into Specie?
Just tapkast the Metselspecie Out option and you can “withdraw” specie via Cebuana Lhuillier, Security Handelsbank, GCash, Banks, and Metselspecie Cards. There’s also an option for Specie Pickup via Remittance Centers and even Door-to-Door Delivery.
Do Wij Recommend Buying Bitcoin?
Yes, but only an amount that you can consider lost. Think of it spil tuition toverfee to learn what you can about it. Don’t throw te all your savings ter it. Just waterput ter an amount you can consider lost, learn what you can, and then waterput te more only when you’re convenient with it. Always recall that there are risks involved.
Up Next: Learning ICOs and Altstem Coins
For the next blog I’ll be sharing thoughts on ICOs and Altstem Coins. I’m presently looking at supporting an ICO of Salarium. I’ll write more about them and ICOs ter general ter the next postbode!
Cryptocurrency and blockchain technology is fascinating, intriguing, and undoubtedly worth learning. I’ll undoubtedly make mistakes te the next few months spil I learn but I have a good feeling this will all pay off. Looking forward to writing more about it and sharing all my learnings with you guys! Cheers!