Philippines: Where, How, and What you can buy for bitcoins
Somewhere cryptocurrencies are legal, somewhere — not. The Kript team decided to figure that out and started making a new series of reviews: we tell you where, how, and what you can buy with bitcoins.
Country: Philippines
The Philippines officially legitimized bitcoin as a payment method in the early 2017. The Bangko Sentral ng Pilipinas (BSP) has already awarded several currency exchange licenses with the authority to convert Philippine Peso to cryptocurrency and vice versa. So, currently businesses in the Philippines are free to accept Bitcoins as a form of payment. Mainstream bitcoin adoption in the Philippines is growing and millions of users are utilizing bitcoin to settle remittance payments, utility bills and make bank account transfers.
What you can pay for
Utility Bills
Coins.ph mobile app allows to pay over 80 types of bills, including electricity bills of Manila Electric Company (Meralco), Manila and Maynilad water bills, passport fees, NBI Clearance (identification document used for employment, business requirements, etc.), PAY-IBIG membership savings and housing loan bills, and more.
Customer loans and bills
Local consumer finance company Home Credit provides non-cash loans through in-store financing meant mainly for purchases of electronics and home appliances. Bitcoin payment option is provided.
Order in a café
Punta Mandala, a resto-bar offering Filipino, Latin American, Tex-Mex cooking, accepted its first Bitcoin payment in November 2017.
Cakes and cupcakes
Tailor-made cakes are available for bitcoins at The Bunny Baker. And Wirin Cupcakery offers its customers to try marvelous cupcakes which can be purchased with bitcoins.
Games and related products
Pinoy Game Store is a Southeast Asia’s games and merchandise supplier. The store offers exclusive in-game items and other game-related goods. It accepts payments in Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Icon.
Travel services
PinoyTravel provides online services, aggregating long distance bus and ferry companies into one site to give a single view of services available to a desired destination. It enables booking a hotel or reserving a seat in a bus or a ferry in advance in an easy way. Bitcoin payment option is available through partnership with Dragonpay.
How to pay
Coins.ph: a payment gateway. Coins.ph was the first virtual currency provider in the Philippines licensed by The Central Bank of The Philippines. It provides a simple way to buy and sell bitcoins within the wallet as well as to make payments in bitcoins, enabling users to pay from Coins.ph wallet in stores that accept bitcoin payments. It is one of the most popular remittance-focused bitcoin applications in Philippines.
BuyBitCoin.ph: payment gateway. It provides quick, secure and reliable way for buying and selling Bitcoins.
Rebit.ph: a bitcoin remittance and billing platform that is used to send local and international payments.
Dragonpay: online payment solution that enables Coins.ph and BuyBitCoin.ph users to buy and sell bitcoins in a more convenient way.
Shopify: e-commerce platform supporting many of the top Philippines payment gateways such as 2Checkout, Coinbase, BitPay and more. The platform enables bitcoin payments with low fees and no chargebacks.
Bitcoin ATMs
According to Coin ATM Radar service, currently there is only 1 ATM in Philippines, located in Manila. With the use of this ATM you can easily buy or sell bitcoin as well as some other cryptocurrencies, such as Bitcoin Cash, Ether , Dash, and more.
Content kript.ioShare with your friends if you enjoyed this postDownload Kript on AppStore and GooglePlayFollow us on Telegram, Facebook, Twitter
