Bitcoin Forum

Iloilo properties for sale accepts crypto as payment

These properties are owned by cryptocurrency proponents who believe that a conversation on making cryptocurrencies a viable payment option should start.

The owners are both cryptocurrency proponents, and told CoinGeek that they believe that a conversation towards seeing cryptocurrencies as a viable payment option should start.

The owners also said that another reason why they accepted cryptocurrency payments is because of their plan to have the proceeds from the sale of the properties allocated into a cryptocurrency investment.

Read more here: https://www.unblock.news/news/iloilo-properties-for-sale-accepts-crypto-as-payment

I'm surprised this happened in the Visayas first. Might inspire the folks up north in Manila to do the same.


Well definitely better than gettting the payment in cash first and converting. The cash-in fees can also get quite expensive not to mention sometimes the exchange would lock your account over comparatively small amounts of money.

Already philippines have regulations for using cryptos?

If its still in the uncertain phase,then using bitcoin for buying properties without regulations may bring some difficulties later.

I think the SEC had already reconsidering this and will soon to release an update. They're open for this kind of new technology since it's getting attention from the mass.


I don't think so, it's already emphasize in the article that whoever want to buy the property they need to cash in through BSP licensed exchange such as bloom x, SCI and PDAX.

But the article didn't mention if the said amount will be base on the current price of btc or it will be fix in php and will just convert from php to btc.

I think this is a good move for both buyer and seller. Buyers can
diversify some of their crypto investments to property and sellers
are attracting crypto buyers, it makes sense.

Property is a solid investment [excuse the pun].
Generally if purchased properly property rises in value over time.
Consider to purchase a number of properties and rent them out.

Honestly, the adoption of cryptocurrency is spreading day by day even further and one of them is it, it is obvious that Philippine is crypto-friendly, because it is possible to see the most philippines in each project and AFAIK there are more crypto ATMs than others.

Not sure if CoinGeek is the best news outlet to consult in this case. They are known to be anti Bitcoin, and basically anti every other altcoin that isn't BSV.

It's good in terms of wealth preservation, but it's not something I would be looking to do right now. Currently there are way more exiting options to invest in with Bitcoin and other types of projects, and of course, with much higher profits. Thus far, everything of significant value you buy with Bitcoin will make you regret having done so during the next mania.

in Indonesia it is not good enough because there are many elements that are not clear I am happy my neighboring country is the Philippines there is good news about bitcoin I think it is good for them

How was it a good news? Does it have something to do with the improvement for crypto? I see your post as a regular news and nothing is good to happen to us even if he is to sell his properties using crypto.

Hey that’s an interesting news you have shared, I knew people were buying services with bitcoins but it’s good to see people are buying residential houses too with it. I wasn’t aware there was a huge demand for bitcoins in Philippines, but what about their local law does it allow such a transaction. I believe this news can inspire many others to buy and sell in bitcoins, and increase adoption of bitcoins which in turn can fuel a rally going ahead.

Maybe the tax laws would require people to hold bitcoins or even use them like the regular fiat currency is used ? If that is the case I doubt there would be any difference between buying a loaf of bread or a whole house. I mean the logic is the same in both of them, you pay the person in bitcoin and they give you the product, it could be anything. If that is allowed than buying a house shouldn't be a problem.

When these kinds of laws pass they usually include places (exchanges) that you can actually exchange your fiat to bitcoin and bitcoin to fiat because governments regulate those exchanges heavily. Same applies to coinbase and USA for example, government can't keep track of everyone so they put the workload to coinbase and trust them to give all info on people who has bitcoin.

If Philippines does the same with certain exchanges I don't see a reason why person A can't buy a house from person B as long as its tracked.

The Philippines having a positive sign on the crypto front we can expect positive adoption happen from banks and government organizations in crypto

https://news.bitcoin.com/philippine-sec-approves-draft-rules-for-icos-and-crypto/

You are right, the government of the Philippines recognized Bitcoin as an internet currency since last year and I think there's no reason why some people there accept Bitcoin as a transaction payment like buying and selling poverty. Besides, the seller is already aware of crypto, because they are crypto enthusiast too. Well, this a great open source and have mass adoption in the Philippines.

Yes, Philippines is open to adopt cryptocurrency and blockchain technology. There are many events here in the Philippines about blockchain and cryptocurrencies. Hoping soon that all the Filipinos are knowledgeable about crypto and blockchain and start to adopt it.

It is actually simple. If this goes in local mainstream media then it can open up minds of other people that there are other ways to pay something rather than just credit cards and the banking system.

Aint that what we are really aiming for? For every crypto currencies to be used as a "currency" and not just an investment.
Now that is being used as fiat like you are opposing it or questioning how was it good news?

I believe it is a good news. A small one but a good step ahead.

If this is true this could have been a very good example of how one can really benefit from the use of cryptocurrency. I hope this starts as a good model to push others to use or do just the same. Philippines is a small country yet it has never been so full of surprises to see that from such a small country comes the love and acceptance of cryptocurrency.

There is no final regulation about this one and I think this is too risky for the investors. Its good to accept cryptocurrency as mode of payment as long you study the possible result of that one, I’d rather use my fiat money and hold my bitcoin and I know it will grow more. This is a great adoption though.

it seems good to be tall of the Bitcoin to the next level because the good moves will always been appreciated by the people who are using this field from a long period of time will definitely accept it.

Well its surprising that Philippines took the crypto adoption seriously, its a very good news and good way to become example for other countries to adopt crypto, but I think its a bit forcing to make people must convert to bitcoin or litecoin to purchase the house, crypto suppose to be an option for payment so the government not misunderstand that crypto want to shift fiat usage, but I really happy to see another things can be bought using bitcoin, its mean we are near with the mass adoption and finally bitcoin could act as currency

good news will always have positive impact to cryptocurrency market.and more people accept cryptocurrency as payment system , demand to cryptocurrency will rise smoothly.fully adoption not longer time again will coming.

I have 3 houses in Iloilo, and this is the first time that I have stumbled upon this news. I have several doubts however on the way they'd be taxed for the proceeds and how would they present the sale for legal documentation. This is certainly not the first time that properties are being sold for bitcoin, and prior years have also shown that homeowners are really interested in taking in bitcoins as a form of payment for their properties. It would get interesting if markets and groceries in the Philippines will start accepting payments in crypto little by little, as it would surely be something worth noting and mentioning.


The SEC in line with the BSP have already set guidelines in using cryptocurrencies, so I think in the meantime, it's as good as legal, not unless the government's stance regarding the matter changes in the future.

with the good news will increase trust, on the other hand as if giving an assessment of the government to immediately take a policy that supports cryptocurrency, needs more good news, and we will see increasingly green prices

more good news is happening to crypto currencies in the Philippines.
I am very happy when crypto currencies are getting better and growing in several countries in the world, and especially in Asia.
Hopefully it will continue to affect other countries in Asia

Good news. I hope developers also start accepting crypto as payment. It grows overtime so i guess its perfect for a large payment scale like real estates. Imagine transfering 15 bitcoin to them as a payment for a house and lot, and those 15 bitcoin will earn 1 bitcoin per quarter?. They should think about this.

Amazing news. I also heard the JP Morgan is looking forward to having their own cryptocurrency. Let's see how true the news is but anything positive is welcoming.

Now many kababayan`s know that crypto is very useful not only in online but some in some business , and i see that many bank in the philippines are accepting crypto as a mode of payments and that is the really big news to us.

It will become more big soon, but for now we must wait for the regulations since our government are too strict right now and they can take this market down, hopefully it wont happen. Buying properties using your bitcoin is always a costly investment, because we know the history of most expensive pizza so try to analyze the market first before you used your bitcoin because those property companies will earn more if there’s a new peak.

We are moving headed for a new system and it is quite good that crypto adoption will be very entertaining to the Filipino's.
Banks are into it and they should keep working as it may happens that crypto will be a threat for their business. And with that,  there is no reason to adopt the system and follow the wants of the people.

Don't bother yourself with that JP morgan coin because it has nothing to do or to compare with BTC.

On topic,its good to see these kind of news about accepting crypto on selling our their assets.This proves out that there are people who are really confident on adopting crypto not
only on its benefits but also as a currency.

Good decision , as crypto are still in a bearish status and you have more properties can be bought if bitcoin starts another bull run in the future your $250k in this moment can make million dollar in return once this market stat is finally over and the crypto hype is back very wise owner.

Yes they will create their own coin but it shouldn't be called as cryptocurrency.

The news about them is true --> https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html

It is good to hear that there are many improvement in the Philippines. Investors in the Philippines will become more attracted to cryptocurrencies because it can now use in buying properties.

Well, considering that the market is in bearish trend it is an advantage for the homeowner to have crypto accepted because when the time Bitcoin starts to become bullish it would be a bunch of profit for his investment. I've seen other countries accepting cryptocurrency as a payment option for their lands or even a small island.

Exactly.This is really a good move for the owner.This idea will also promote cryptocurrency awareness on the people around especially for those who are not still aware about this.Once the market turns green again,it will definitely make the owner a millionaire especially if the price in the next months will become more expensive just like what most of the crypto fanatics are expecting.

If more bussiness sector can accept bitcoin as payment, i think its good for the price. People will learn about cryptocurrency and want to know how to invest. I am believe this is a good move for phillipines people

The owners really have a good reason for that and I am in really in support of this.  If you have a plan to invest the proceeds into a Cryptocoins investments there is no need of  selling the property in fait before thinking of converting to cryptocurrency again.  If cryptocurrencies is been patronize in Philippines it is  a great Thing and I think these people have a great foresight and that is why they are adopting cryptocurrencies.  Many good news has come out of Philippines and it is good we appreciate them.

Buying a property through bitcoin is a bit complicated for me. Is it legal to buy properties without paying tax? How are they going to pay the tax? Will the Government allow them to sell and buy properties using bitcoin? Cryptocurrency in the Philippines is not legal, nor illegal. But, buying or selling a property is something that needs a proper and legal documentation. If the Government allows Filipinos to use bitcoin as mode of payment, well, that's really a good news for everybody.

According to the article:


How those owners ended up in the Philippines in the first place? Very weird. Anyway, I don't know if there is someone from the Philippines, specially of all the places they wanted to buy is in the Iloilo. I'm not saying it's a bad decision, but if you wanted to attract attention in the crypto sphere and sell units, then it should be in Makati, or the corporate business district in the country. Well it is still a welcoming news, but I doubt if he can get serious buyers in Iloilo.

The future is positive for cryptocurrency community, thou the technology still seems complicated for lots of  people, as development keep happening sure the adoption rate will be on the increase and beyond property, all transaction can be through blockchain/ CRYPTO Technology.

one by one the good news about cryptocurrency began to emerge. I am always happy when I hear news like this, that way, it means that bitcoin has begun to be accepted among the public, especially traders who start accepting payments through bitcoin. incessantly I hope that this news will bring a good trend to the market today.

That's a good move, though Philippines is small in terms of population and the area it is getting highly advanced through more and more such services benefiting the people. Another important thing, Philippines is the country having largest cryptocurrency users next to China and Japan. This will surely help with these kind of accepting bitcoin into businesses.

Good to know that you can now buy and sell a property using cryptocurrency here in the Philippines because you don't need to convert it into real money for you to buy things that you need. Hoping that more businesses will start to accept cryptocurrency as payment.

Another good news where Philippines keep on adopting cryptocurrencies. This kind of news will have big effect to the people in the Philippines who do not have cryptocurrecies or to the people who do not have knowledge about it. The big tendency is many companies will start to accept cryptocurrencies so maybe in the next year most of the companies will totally accept cryptocurrencies.

until there is full regulation, no good news will affect the market.

Yes.This is really a good start for crypto to establish trust among people in the Philippine arena.Hopefully after a successful transaction like this,more establishments will now accept bitcoin and even altcoins to purchase not just goods and services but also properties.

Yes, I am also very happy if many countries begin to accept Bitcoin, because automatically the people of the world will increasingly know BItcoin and try to invest in it, so that it will affect the price of Bitcoin itself, hopefully.

Always good to see demand for crypto currencies around the world. Real world usage is welcome for all kinds of transactions especially property which will be a big purchase

I hope restaurants also adopt this kind of payment 'cause i really want to try it. I just want to put all of my money in the coins.ph, transfer some of it to the btc and hold. Filipinos is good at adopting the advanced technology, they've already implemented a lot of seminars about the hidden knowledge in blockchain. I'm proud of it and me as a student, I'm being innovative and conducting more research on how to expand the usage of bitcoin in the community.

I think it's a good start for people to accept this kind of method. If ever, i wanted to be a cryptocurrency enthusiast in some companies when they learn the process of accepting btc as a payment.

actually if the country wants to be open to studying crypto and the good crypto potential for the future, a country will be more advanced in terms of digital investment. I hope not only the Philippines, but other countries also follow it.

i havent ever heard about Iloilo properties. But any practical usage of bitcoin is a good new for all ecosystem. as long as sellers accept cryptıo currencies, natural demand to the currencies will increase.

Here in the Philippines, there are now few stores and businesses who accepts cryptocurrency as payment, that is why if everybody will start to accept crypto there is a chance that cryptocurrency will be start to accept by the government as a legal currency.

It is good to know that there are property sellers who are willing to accept cryptocurrency as a payment because people will don't have any problem in exchanging their crypto into cash. Hoping that more stores or businesses will start to accept crypto.

They must have a great faith in cryptocurrency for such a brave step. Imagine the risk too big they will be facing but nevertheless, any investment is risky. Real estate is meant to be a long term investment. As years passes by the value of land also increases, in 5-10 years from now if the currency in which they've accepted for the property will be gone, they will have just be losing the whole property too.

Great job from a local businessman to open up ìn this certain kind of business. He made his business range even wider and would probably attract even more buyers for his services and also another ping to the sleeping crypto community out there. Philippine's leader is a good man and anything that can help his country's growth in a good and legal way will be approved by him and no problem should come to businesses which have accomadated Bitcoin as a payment.

They try to reach cryptocurrency users ;) . Actually there are many property/real estate businesses that targeting cryptocurrency users. It is good for them and us. I hope other industries will accept bitcoin as well. E-commerce industry is the best industry for now, but many merchants still afraid about the volatility.

This is really a good news. But this is quite surprising at the present time. I think that countries in Asia are responding to crypto quite a lot and this is really a big step for Asia.
In the European region, many political events are happening and the US has not yet intended to join crypto.
I predict that in the future, Europe will have to envy the GNI index of Asian countries.  :D

There is nothing to be surprised of, there is nothing exciting, just a few properties for sale. Not even yet sold. Not even found someone interested.
We're talking about business related to cryptos here so saying the USA "hasn't intended to join crypto" is really wrong. Maybe 70% of the businesses are located in the USA

at first I also thought that the more countries that could accept bitcoin then it would affect the price of crypto currencies in general, but in reality it did not happen. the price is falling when there is a lot of good news about bitcoin.

have there been many countries that accept bitcoin? and if in my opinion there are still a few countries that want to accept bitcoin and be legalized so if many countries want to legalize bitcoin then the faster bitcoin will be used by many people in the world and bitcoin will also experience price increases

The price of bitcoin does not depend upon how many countries accepted bitcoin, it solely depends upon the investors who are investing in it, every market will rise and fall according to the investors and that does not mean mean that it will improve if a country accepts bitcoin as a payment system, the price will improve gradually and when the market rises you will see many technical analysis on why the market improved but it is hard to know before hand.

We are proud of that and glad to heard, that even a small country Philippines was already accepted bitcoin. Hoping that this good news will continue. We believe that sooner so many nearby countries will adopt bitcoin also. Because of that many Filipinos will be attracted to invest.

We can't say that for other countries as well. So far even the Asian region is still divided about how they are going to treat cryptocurrencies. India for one has laid down one of the toughest regulations against having possession of crypto, - jail time. While Japan and to an extent South Korea are crypto friendly. So everything is revolving around the neighboring countries. Of course as Filipinos, we are lucky to have a government that is very open and at the same time giving fair warning to it's constitute about the risk of investing. (https://www.philstar.com/business/2019/06/10/1925041/bsp-public-be-wary-cryptocurrencies/amp/)

So glad there are people that are willing to accept or let people pay them in bitcoin. There are a lot of people in our country that still don't know what bitcoin is and what crypto currency is. The thing is that I doubt someone that has a good amount of bitcoin will buy that, instead if that is me, I'd rather hold onto it rather than using it. Fiat can still be used despite coingeek converting those fiats into btc or ltc.

Lucky thing for people who do reside into those countries which do have positive or do really adopt cryptocurrencies into their vicinity.

We have seen ban and strict regulation everywhere and for us crypto users who do live into these countries where we do confidently
transact and engage with crypto are lucky ones and these type of news do really give out good mood on my side.

I think small countries like the Philippines will not have a major influence on the development of bitcoin prices, there must be a large country and have the world's largest economic condition that accepts bitcoin to be used for transactions every day, it will make the price of bitcoin expensive because bitcoin transactions will increase.

How is this good news?

There are a lot of ways you can use your Bitcoin in the Philippines and this is not new. Just think of the transaction fee that buyer will pay for that huge amount of BTC to pay, 4.5 million pesos is almost 10 BTC, who will buy that? Even if I own a lot of it, I'd rather buy in fiat since there will be no fee and I can just hand over that to them. If they will be using a platform without fee, maybe like coins.ph people will consider but looking at the price these days, I still don't think so.

Everyone is too familiar with open business operations for the market in the Philippines. They are really supporting crypto but the number of people using crypto and developing blockchain is still quite small compared to other countries. So the reason is why? They are preparing missiles but can't prepare the platform for rocket launcher?
I am afraid that the lack of knowledge in Phiplippines will make people lose in this market.

In the past I have heard a lot of good news from the Philippines and I also greatly appreciate their enthusiastic support for cryptocurrency in general and Blockchain in particular. But I have yet to see the volume of crypto transactions in the Philippines increase markedly. The market still has such familiar faces as Russia, America, China and Vietnam. These are 4 countries with very large volume of transactions at the moment. So what happened to the Philippines?

That is really a great thing. Recently I have seen a lot of good news about crypto in the Philippines. I think they are inclined to develop and invest in a new potential area like cryptocurrency to improve the economy in a clear way.
If the Filipinos are well-informed about Blockchain and crypto knowledge over the next few years, I'm sure their country will outperform those in Asia.

I wonder to what's the current update of this issue because I think there must be a deed of sale of land ownership between the owner and the buyer and if the government of the Philippines can recognize or honor cryptocurrency as a mode of payment for real estate properties.

Right, there are more questions about this process. And it's hard to track down any updates of the said sale as well. Well this is some sort of exposing to crypto, but I guess in the background there are also paperworks needed to be done, at least the buyers will just send the payment to a particular address and sign the paper works, however, I don't think that will be the case here.

This kind of buying or selling process is not suprisingly to happen, however it will be hard to track down but there are still process that needs to have legal assistance for the smooth transaction like having 3rd person specially when the payment will be done and for the paper the address must be indicated and must also be notarized.

They need to process those requirements before they will close the deals, as bitcoin won't be able to cover that and aside from computing the actual
needed money there's no way for them to continue and process just like buying things online, they needed to answer those required documentations.

There are already many merchants here that accepts bitcoin. You can already use it to pay some of your monthly bills with ease at your home. But there are still some that uses cryptocurrency as their front on their pyramiding/ponzi schemes. And still many people are investing on those ponzis because the leader are promising some high returns because of bitcoin's value now.

There are no fixed rules about transactions involving Cryptocurrency in Philippines. But many people know Bitcoin and use it. In this country, it has installed several Bitcoin ATMs in major city centers to meet the demand for people who want to own Bitcoin without going through exchanges with many that tie up KYC.

I think Philippine government see potential in cryptocurrency to boost it's own economy even though there have been scams relating to bitcoin and had been shown on the news the government is still open minded about cryptocurrency and I think it is great because as the time pass more people who were first afraid of cryptocurrency might consider trying it since the government open minded about it.

Wow, I didn't expect that bitcoin has been accepted in some of the companies in the Philippines, I mostly hear companies in the US and other countries but Philippines, it's just amazing, I hear some people say third world countries will be the last one to adopt bitcoin but with this I can say the Filipinos are getting smart. I just hope the adoption in the Philippines will grow even more.

Iloilo is a province in the Philippines, we have a lot of people in the provinces that are cryptocurrency supporters so this is not surprising, as long as it is done in accordance with the law, although here in the Philippines we still don't have a marketplace for real estate that caters to cryptocurrency supporters.

I hope that soon, the other Asian countries will do the same as what the Philippines and they will accept bitcoin too. If that happens, we will see a large population in Asia will support cryptocurrency and maybe we will see many offline shops in the Asian will be available since the Asian countries will be good for destination travel. And if cryptocurrency can be integrated with the travel agency, it will help cryptocurrency and for bitcoin specifically will grow too.

This article shows how cryptocurrency becomes trend in Philippines. If ever it will become popular in this country, Filipinos will embrace it so much. I knew that Filipinos are addict in everything. So definitely, they will adapt cryptocurrency. Using to buy properties in Ilo-Ilo would be a big step for new type of payment in Philippines. I hope it will continue more.

Crypto industry will proceed and make more attention around the world not only in small country like Phillipine but many other countries will adopt the system and let the process will take place, it's booming and let many people to use the system for the benefits of easier transactions.

That is the spirit of Filipino. Though we are cultural sensitive and we cannot move on easily towards technological advancement, we did not end in development also. We have our own ways of getting the new trend and Filipino loves to be the first want to try and feel something new. Sometimes we are so called reformists. We like to change.

It is good to see some more crypto adaptation and some attention paid to it, especially in the Philippines since it is considered one of the most bitcoin and crypto supporters, i hope that other companies and sellers take the same route, as paying for properties with bitcoin seems a little bit impossible as the people who own a large amount are probably going to hold it and they are not the spending type, i think the best way for crypto to advance and get accepted everywhere is micro transactions like Amazon or ebay.

that was great news !! , more and more developing country are adapt and using cryptocurrency and people will ready for future payment also cashless society

As of now, having cryptocurrencies as a payment option has a least of problems. The cash-in fees are expensive enough to hurt your feelings while withdrawing it from a platform. Also, the bitcoin's price is volatile and it would make your bookkeeping messy and confusing so you won't think of keeping it to your wallet because you will know how complicated it is to compute when the price changed especially rapidly.
Well, hopefully, all countries follow the steps of being crypto enthusiasts.

I think it is more a good news knowing that the payment courer like lhuillier companies had invested to satoshi group a known group of bitcoin and founder of bitcoin. I never had thought that there is a group created and visible for bitcoin. The founder still alive and even marketing bitcoin through adaptations in a form.of payment scheme using p2p way.

According to FT news, among the Southeast Asian neighbours, Philippines has relatively more open to using Bitcoin and other cryptocurrencies. The Philippines’ relatively higher adoption rate of cryptocurrencies may be related to the Bangko Sentral ng Pilipinas’ (BSP) moves to regulate rather than ban Bitcoin and other cryptocurrencies. I think this is a good news and an opened door for new opportunities. Well, I assume that this adoption will expand especially for known businesses.

Hopefully this will lead to crypto adoption in the next years to come.Philippines has been very positive in welcoming new doors of opportunities which will be very helpful in increasing not just individual's  economy but the country's economy as well.I know there are already numerous bitcoiners spread all over the Philippines,it' just that they chose to be secretive than telling the whole people that they're into crypto trading or investing.

The Philippines are truly crypto enthusiasts and are always on the move to take crypto to another level by utilizing its services. With time, the economic status will raise and be well enhanced due to the financial freedom and job opportunities crypto will create in the Philipines if most of the people become well informed in crypto.

of course we think of ourselves first. by investing in low prices, it allows us to get the maximum profit. and I think after that it doesn't matter to tell others, it will certainly be beneficial for us. but the most effective news from the government to legalize it

Secrecy in Cryptocurrency is just too much

This is merely a small fraction of transaction compared to everyday trade that poeple would want to see before they start investing in cryptocurrency. Yes, this is a good news that poeple are actually making steps to make bitcoin known, but we still lack consistency on how we campaign this kind I do hope that in the coming years, Bitcoin will be used almost in all transactions like the fiat is now.

We know right now that Japan is a crypto friendly country, also Philippines and also USA is a friendly one too even though their regulations are very tough right now. These are the ones we know, I think Ukraine was friendly too but something happened and I don't know their last position. We know china banned many things related to crypto like ICO and mining as well.

So, at the end of the day we have countries both liking bitcoin and hating bitcoin as well and countries will watch them closely, they will watch and see what happens to them and depending on results they will decide themselves as well. It is going to be very very important for all of us that live in the friendly countries to pay their taxes properly and do whatever they can and make it a great thing so others will follow.

I am sure that for the future of Asia, the Philippines will be a very lucky crypto for its people, for me this is a good example for other countries of the Philippines.
I also saw news about the exchange in Philippines, this would be very good news for Asia.
news: https://news.bitcoin.com/philippines-approved-cryptocurrency-exchanges/

This is not big deal but we should look at hug opportunities we are getting with bitcoin, not only in Philippines but all over the world. If they made it more secure with new technologies it is good, but before that it was having good name, I am sure now bitcoin will improve the economical state of Philippines even more;.

It's good to hear that Philippines is very supported of crypto and it's government really understand that crypto is not a bad thing specially for Philippines. And since there's only one exchange that really caters for Filipinos which is coins.ph, it will be nice to see other exchanges born and enter the scene to provide not just for Filipinos but in Asia as well. And I do hope that the government will continue it's support !!!

Many companies and big names are already investing and using cryptocurrency here in the Philippines so this news is likely to happen now and there will be more because the adoption of cryptocurrency is getting better day by day.

I have long heard that the Philippines is a country that is friendly to cryptocurrency, therefore many companies or stores accept Bitcoin as a means of payment.  And rightly the comments above, if this country does not accept Cryptocurrency as a legitimate payment instrument, then accepting Bitcoin as a means of payment for property will cause a big problem for a store or company in the future.

Great decision, if i were the land owner I will do the same decisions, he/she knows how to earned money will, because he/she knows that the bull run is yet to come as part of strategy it is really good if you hold bitcoin while it still in lower price, and wait for the bull run and your money might be double or triple.

It is not only in Philippines that we don’t get to hear of real estate investment as regards crypto, I have never seen any project too generally that is geared towards real estate using crypto, most of the real estate projects I have seen raising ICO has been purely scam, and real estate is another area that will boost the development of cryptocurrency if the managers can put crypto adoption into consideration.

It is amazing that cryptocurrency is beginning to be considered fully as means of payment by great companies like that one of Philippine and I know that with time, a lot of business  men and women will also do same as those property owners did in Philippine.

all possibilities are possible and no one can know for sure if all countries accept crypto currency as a legitimate payment system of course the government will make things go well I believe it

Cryptocurrency is gaining ground in the Philippines. There is this card called Pensionado and it is hosted by LoyalCoin and it gives rewards to its users. It was recently launched and so far thousand of cards has been given away and they are active, not just another card that sleeps in your card wallet. This is a good way of promoting Cryptocurrency, show them or give them the benefits of using it.

Everyone just wants a take on cryptocurrency, they are hoping that the price would go up so that their companies can hit huge amounts of money. I have been making use of cryptocurrency for a very long time now and the last thing that ever crossed my mind was buying anything with cryptocurrency. I have never tried such a thing before, I only use cryptocurrency as an investment and that's all I do with it and nothing else. If I feel like I want to make use of the money I have in my crypto wallet, whether there are services accepting crypto for what I need or not, I don't think of that. I just withdraw my money and use it for what I want and that is it.

Be careful when buying properties in the Philippines, there unscrupulous brokers who sells a property that has been sold already to someone else and they do it multiple times particularly to those houses that isn't ready yet for occupation. They had been doing this since properties in the Philippines aren't put to escrow unlike in US where mortgage payment are being escrowed.

Good point, it should also be consider that since bitcoin transactions doesn't have any supporting documents everything will be between buyers and
owners it''s best to have a decent escrow to hold the assets first before closing any deals if you are really aiming to proceed using your bitcoin.

People are being secretive about their cryptocurrency trading and usage because they still not gotten government backup, and we really don’t need this secrecy if we are to really allow this news to spread worldwide, but the issue of getting full government backup is what I am not sure we will ever get, because the system of crypto does not work in favor of them that much, and I even learnt that India being one of the largest country with largest population is already planning to place a ban on it, so this secrecy will still continue.

But it’s a good thing that Philippines are beginning to consider it, and I believe that we may gradually start getting adoption from smaller countries.

even from the news that I read, in India will get a punishment for those who have a cryptocurrency, but different things are done in the Philippines, which clearly the Philippines wants to follow in the footsteps of developed countries that have legalized it first

Agree, scam brokers may take advantage of this so that they will not be easily traced, I guess having an escrow is better to atleast add security to your assets. It is good that the Philippines is friendly to crypto unlike other countries, hopefully it will increase as the time goes by.

Every country has different rules and policies. very sorry to hear news from India, but in other countries crypto began to get attention. Philippines, one of the countries in Southeast Asia that has the principle of openness, I think every country must adopt this principle in various ways including finance.

  Precisely, Philippines is very acknowledgeable for every opportunity that exceed. Perhaps, bitcoin has a promising platform that should be grab on and easy to adopt for the open countries. And I think many country has take it licitly and adopt widely open due of its high recommendation.

I see, this is a good thing. But when was this launched? Did the government just started to lay down regulations on the use of cryptocurrency? Don't get me wrong, I want to have this but I am currently looking into the legitimacy of this project. Thanks for the information bud.

The owner of those properties is ready to take risk in cryptocurrency investment, actually there are a lot of property seller who accept cryptocurrency as payment method, I also glad to hear that UnionBank was create ATM to help philipinos to convert philippine pesos to cryptocurrency and vice versa, thanks for the article. I hope this will also works for tourist too.

Don't be discourage as not only the Philippines is not accepting bitcoin or crypto as payment but the rest of the world as well. Although there are some friendly countries who are now implementing LN. So perhaps if Philippines really wanted to be one the most bitcoin friendly in Asia, stores there should adopt LN, just saying.

I am from the Philippines and have been to Iloilo several times. I admire that the city does not only boost of a beautiful and well-organized city, but also of an advanced way of doing commerce.

However, I am mainly curious as to how the legal papers would be accomplished. Would they be indicating the sell price in their deed of sale in Bitcoin? I'm afraid that would somehow be considered illegal. I assume that papers would still be bearing the value and payment in fiat, in Philippine Peso for this matter.

It is done by a lot of countries, people accepting Bitcoin, accepting other cryptocurrencies, it is already done by a lot of contries, any changes? None.

What will you do to produce more investors? Increase the price, lower the risk. Is this possible? It is but the thing is that Bitcoin is decentralized so it is hard to do, so hard. Even the article we are talking about doesn't want to hold his BTC since he is directing it in a coinsdesk wallet because if he wants to hold it, I think it will not be in exchange.

The popularity of cryptocurrency and the attraction of new investments will always be influenced by news about cryptocurrency in the information space, as well as the development of infrastructure for the use of cryptocurrency in society.  I believe that the recent statement by Donald Trump has a very strong pressure on the entire cryptocurrency market.

Thats a very great news,Filipinos were very open for different options inorder to conquer poverty.A positive output to all Filipinos that there is an existing currency which it can be used to profit if mass adoption happens.

The Philippines is one of the countries in Southeast Asia after Singapore that gave a green signal to blockchain technology and cryptocurrency.  I think developing countries need to learn more in the blockchain and even use cryptocurrencies as an innovation for them to be able to compete with countries that have advanced in terms of innovation  ;D

I also think that there many potential and interested investors here in the Philippines. Though, most (or 50%) of the Filipinos are not that tech-savvy so they doubt these kinds of things and would be willingly invest in what they think they know like investments from agents and cases of those skyrockets because of these.

Hope some projects like Traxion would be successful in implementing cryptocurrencies and online payments and banking.

It really is good news. This is one way to show that cryptocurrencies are really being known across the country. Our government is also cool about it and with this kind of simple way of acknowledging crypto and adopting it, I'm pretty sure that it can be sustained. Let's just be positive about it. ;D

If that's the case then I might go to Iloilo and buy a property now.  :D


Let's not just be positive, we should support the community here in our country so the government will try to learn at least the basics and the advantages of bitcoin so they can implement a nationwide transaction of cryptocurrency. And also wish that the development of the blockchain itself will help us to make a better economy with advanced technology.

I am from the Philippines and that was a good decision on the part of the lot owner, this is very rare we do not have a market place that caters for Cryptocurrency users how I wish we have one, when the community is banded and supports each other here in the Philippines, we could soon have one.

  Blockchain technology is of great worth and value and I think that if you are able to invest in the technology, like start a Bitcoin ATM making company, you might make some good money with the investment. In addition, the technology could help the government build some great system that is transparent and instant for work related to finances.

some other good news like what you are mentioned in your topic is the medicine for the investors who had the only confident with the cryptocurrency investment on his future so that I appreciate this and it will be very useful for people in that country.

great news for all crypto enthusiasts in Philippines , the more companies trade directly for bitcoin the better
this is the only way to have mass adoption and no need to have middle men in a form of banks or exchanges to convert bitcoin to cash and vice versa
meantime there are many question as to the legality of such operations in Phili
how are they going to pay taxes on sales? they would want to convert crypto into fiat this way or another because the government
would not know what to do with the "3% of the 13 bitcoins tax"

Anything that is related to cryptocurrency as being the medium of payment is good news, especially that the exposure of bitcoin can quickly materialized across the country.

Throughout the years, any electronic cash or money is branded as a scam and has been stigmatized due to recent scam attempts done. That is why, whenever you hear someone introducing a brand-new type of currency in the internet, the first thing that they would think is an another scheme with shenanigans along the way (this is the case here in the Philippines).

News that involve bitcoin being accepted as another option for payment can slowly eliminate this kind of stigma if people were to start accepting it more as a payment option.

it is definitely not possible to cryptocurrency and people from using it,  the enforcement agencies are just trying to play on their intelligence by saying that,  I know bitcoin and cryptocurrency in general has changed whole lots of people lives in Philippines

The government are only afraid of the next revolution that bitcoin is gonna create,  because bitcoin will majorly be used as a transaction in mostly all transactions in future.  Imagine moving billions of dollars with a transfer fee of less than one dollar within minutes

Not to break your positivism but that wont really be an easy path.We are on adoption phase but it doesnt move out fast as we expected due to regulation matters.
Government would always be an issue, even if they cant totally get rid of crypto but with their ruling it do set out parameters which would really block out the fullest potential of adoption.Good thing that we are seeing countries that do reconsider out cryptos existence and make use of it.

Philippines look good for cryptocurrency because have regulation for bitcoin as transaction payment, their economic country not good but they want to build and accept bitcoin as their payment system, I hope for my country want to allow bitcoin as legal payment transaction and give more benefit for bitcoin and altcoin.

I am happy with development and updates regarding the crypto adaption in Philippines. Now seeing that some property owners accepts crypto is a welcome one especially in Iloilo.Slowly, crypto/bitcoin will become mainstream.


Yeah, its difficult and complex. Right now, they are discussing a bill, The Digital Assets Act which include FinTech, Cryptocurrency and other form of Digital Assets. Though its good to have one to protect consumers/users but in the case of cryptocurrency which is decentralized is different.

This was a great news and is sign for global adoption. As these business accepts bitcoin, it became more known and thus can increase its value in the near future. Mamy organizations are opening their company for bitcoin and other currencies. Also, payments that we suppose to do in our daily lives became easier because of this digital platform. The only thing to be aware of was its price volatility for our funds can be decrease in value in aome cases.

The issue about cryptocurrency in the Philippines have became outdated already, the government all of a sudden felt fear due to the increasing number of crypto users in the country. Now that such great news came in, we will surely be able utilize the use of it more than ever. There are certain of places in the country thay allows the use of crypto already as mode of payment and by that, we can see that the people are being smart for they have great plans with their crypto investment in the future.

It's good to know that even province businesses in the Philippines are into crypto. It will be a good type of business since they're going to invest their earnings. I haven't heard about that strategy. The good thing about the Philippines is they're open for the latest technology trend as well as the blockchain technology. If most countries would do the same, cryptocurrency could possibly grow and rise as digital money which could possibly help the economic growth at the same time.

Oh my God! Iloilo is just one hour boat ride away from my hometown Bacolod City. This is huge news to the Philippine crypto community. This is a great start for them to bring awareness to Bitcoin and cryptocurrencies in the Philippine market.

Here in Bacolod City, there’s a restaurant already that is accepting Bitcoin for payments. If only my dad has the capability of reviving his coffee shop and mini-resto, I would not hesitate to adopt Bitcoin and other cryptocurrencies as mode of payment.

For me, this is a very good sign now for Philippines to slowly adopt into crypto payments like these proponents in Iloilo.

Philippines is the only one country in Southeast Asia have adoption bitcoin as payment, other country like Indonesia, Myanmar, Malaysia still not adopt bitcoin as digital legal currency payment, Indonesia can use bitcoin but only for investment assets and people can't use bitcoin as digital currency payment. Malaysia have the same rule like Indonesia with bitcoin only as investment and never allowing for transaction payment, by the way to make tourist interested with Southeast Asia they have legal bitcoin as payment transaction.

of course this is good news. both the buyer and seller can benefit. the buyers can get the property they can buy property with the crypto they have and the seller also get crypto which can also be used directly as an investment tool. property and bitcoin are attractive investment tools and now many people are interested in investing in both. investing in property and bitcoin I think is more profitable than investing in the stock market or bank.

That's unexpected, but a good start to spreading the word about cryptocurrencies. If more people would become aware of its existence and would attract more investors, the market would indeed grow. However, there's still a lot to go through. We're still far away from almost complete adoptation. It's still good to see that the word is spreading especially in third world countries such as the Philippines.

There's also a possibility that it would replace current payment systems, but there's still uncertainty.

Maybe in this way many people in the Philippines might recognize the use of cryptocurrencies because, for me, it not just like an investment but can be also used as a mode of payment in different transactions. As of now, we can totally see different industries that accept bitcoin and other cryptocurrencies. I also think that the owner now has a good investment in cryptocurrencies maybe it is now one the whale in the market. Lastly, having a business that accepts cryptocurrencies is a new way to make a better profit.

Correct. No matter how big or small the news was as long as it is about Bitcoin or cryptocurrency in general, I think it would help other people without an idea to become aware that there was once a digital money that is way more convenient to use just like buying loads, paying bills, goods and services it will be a big thing in this cryptocurrency industry most especially in the Philippines.

The Philippines is one of the top countries with higher usage of internet worldwide so it won't be surprising that using bitcoin or accepting bitcoins as a method of payment would be an option. Probably transaction other than selling properties would start to accept bitcoin even small scale business who can do such payment would be available in the future.

To  people who are open minded this venue of investment is really a good place to invest your money, if you understand the concept both being a payment process and store asset will be able to collaborated. This move from bitcoin believers will bring more interest to those who are not yet
inside this industry.
Also a good proof that bitcoin is another payment venue that can be used as an alternative to the existing payment process.

In my country philippines many people are open minded about crypto currency. all people want to develop and use an easy way of transactions. philippines are included to those country who are mostly using cryptocurrency as payment. online shopping here is already have cryptocurrency payment method. so this will be the start of crypto growth in philippines.

The said properties was not own by the Government, it is a private properties by rich people, and buying it using Bitcoin and Litecoin is the same as buying it with fiat, it will just bring some difficulties to whoever buys that if the needed legal documents are not legit, the Government might take the property in that case, but this is all good in my jurisdiction since the owners are crpytocurrency enthusiasts.

It is a nice move for them because they don't need the money that much (since they are rich) and holding bitcoin 'till its price skyrocket again is no problem for them at all.

What a great news, I keep reading and stumbling across news like this, just earlier I've read that a small tech shop in the philippines is accepting bitcoin as payment, considering that it's just a small scale business but is very accepting and has adapted cryptocurrency, is a good sign that bitcoin or cryptocurrency is paving its way through the smallest after making an impression to big businesses. And now, this news just proves that the catalysts of massive adaptation of bitcoin is now increasing and nothing, even the life status can stop it.

It is also good news for residents of the Philippines, as Bloomberg reports, the largest bank in the Philippines, UnionBank, together with Swiss custodian Metaco and IBM (https://www.hubbis.com/news/union-bank-of-the-philippines-selects-metaco-and-ibm-to-orchestrate-its-digital-asset-custody-operations), is going to add trading and storage of digital assets for its customers to the line of services. Cathy Casas, head of the UnionBank blockchain group, believes that it can be expected that over the next five years approximately 3-5% of Filipinos will be able to place cryptocurrency on their accounts.
So it is possible that UnionBank customers will soon have the opportunity to buy, accumulate and sell cryptocurrencies.

https://www.bloomberg.com/news/articles/2022-01-20/crypto-enthusiasm-prompts-philippine-bank-to-launch-trading

Not being knowledgeable on the specfics, I think that Philippines is clearly one of the countries that can most benefit from crypto. Millions of unbanked people whoe need to carry on financials as usual and understand the use of the smart devices, even if not educated. It is the perfect environment to have a use case for a easily traded coin, perhaps litecoin or other with a low fee that can be used daily.

Banking is not a problem in the Philippines, as long as the area has internet, they can access their money and do transactions online. We have GCASH with over 50 million registered users, i think they are the biggest in the digital world (fiat) and they are planning to enter in the crypto world.

Its still a presumption or rumor since these had been said on last years.

https://www.rappler.com/business/cryptocurrency-trading-available-soon-gcash/
https://www.philstar.com/business/2021/05/31/2101925/gcash-eyeing-cryptocurrency

For now it wasnt implemented yet but who knows right?

True.

It's a developing country and many people are becoming open with cryptocurrencies. And that's the why many of the folks are going to maximize the potential of crypto and get the benefits from it.

There's also the help of the NFT games that have been making rounds in the country. It has forced the players to educate themselves towards crypto so it's also a blessing in disguise.