Growing transaction volume in the Philippines

[Kemarit]

Many filipinos find bitcoins as a new source of income to increase their financial capabilities, it is good to hear that the goverment is embracing the fact that bitcoins can help the country economically. Improving the lives of filipinos. I'm looking forward for bitcoins to grow and develope more here in our country.

But you have to understand that not only Filipinos are enjoying the full benefits of bitcoin, but there are countless people globally that are taking advantage of cypto to enjoy their financial freedoms.


Yeah, the Philippines is really friendly to bitcoin that's why the Filipino community is still at its all-time-high as well. Its local trading platform are now expanding with a Coin Exchange (CX), its on the beta stage right now. And I'm sure that this will really bring a lot of Filipinos in the crypto world. And there are news that other trading exchange platforms are soon to be open. So in the next years or so, expect Philippines behind giants Japan And South Korea as leaders in the crypto sphere. If anyone is interested, here's the link: (https://coins.ph/blog/cx-first-digital-currency-exchange-philippines/).

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[yojodojo21]

Last week, it was reported that the Bitcoin transactions going in and out of the country has reached over $6 million, and now the Central bank of the Philippines will be issuing new guidelines regarding Bitcoin legality.

They gave no hint as to what their plans are, but officials from the Banko Sentral ng Pilipinas gave positive remarks, and even mentioned that cryptocurrency may help in the progress of the country.

everybody should not be happy to this news at all, Always evaluate news like this, Does Bangko sentral ng pilipinas has a good deal to bitcoin or bitcoin will just be used as a turning point to those oligarch Government officials to be used in illegal actions. as what OP stated they doesn't give any hints to it. so how can we be so sure that they are really up to a good idea? However, I hope Every Racist person must know that we are also a part of the growing bitcoin community as part of the third world country. Sooner or Later Philippines will be one of the country who uses crypto as paymet to any kinds of merchants.

[marielbeckham]

Yes, this country is really an excellent choice for those who are looking for a totally bitcoin-friendly community.

[reddolphin]

Philippines people they believe bitcoin more profitable than other investment and the government also supports.I hope every country support bitcoin.

[elena_rose19]

If ever the news is true then it's a good news for Filipino btc users. The market of bitcoin un in the Philippines is growing every single day, we can't deny the benefits that pinoys get from it. Looking forward to a cryptocurrency regulation in phil. I hope no one will take advantage of it.

[budz0425]

If ever the news is true then it's a good news for Filipino btc users. The market of bitcoin un in the Philippines is growing every single day, we can't deny the benefits that pinoys get from it. Looking forward to a cryptocurrency regulation in phil. I hope no one will take advantage of it.

With this kind of volume transactions in our country, our government had decided not to ban bitcoin here because they have seen the potential it brings to each individual and just have come up that they did just implement rules for the protection of those investors.

[Zabrielle]

Oops! now bitcoin transactions in the Philippines is being noticed already. Is this means that the bank securities is going to be tight then? But yes, there are people getting big amount in the bank from bitcoin transactions here in Philippines. One of friend husband did that. As expected this time will come. Good luck Filipinos

[LegendzX]

This is somehow a good news. Imagine, many countries are struggling for getting the favor of the banks and government to make room for crypto currency in their respective country because banks and government are afraid to the negative possibilities that cryptos can bring to them. And in the Philippines just like that, getting the positive feedback without the support of crypto currency experts.

[jonaire99]

The growing interest of many filipinos in bitcoin will further boost the transaction volume in the years ahead. The government have been reported to be positive on this development but a warning to the virtual holders was issued later in response to the news that scammers uses bitcoins to victimize people. This is one of the reasons why the Philippine government is trying to craft rules to protect bitcoin users from being victimized by the scammers.

[lynttrs]

Last week, it was reported that the Bitcoin transactions going in and out of the country has reached over $6 million, and now the Central bank of the Philippines will be issuing new guidelines regarding Bitcoin legality.

They gave no hint as to what their plans are, but officials from the Banko Sentral ng Pilipinas gave positive remarks, and even mentioned that cryptocurrency may help in the progress of the country.

It is true that bitcoin is getting known by more and more people in the Philiippines. By ordinary people and by investors. Ordinary people basically want to have extra income to suffice for their needs. Investors on the other hand see the potential of bitcoin and see it as a good business opportunity. Though there may be some bad news wherein some people get 'bitcoin scammed',  it still doesn't stop the mass to know what really is bitcoin. It just makes them more curious.

[goaldigger]

Our country is a bit supportive when it comes to cryptocurrency. Coins.ph, the leading and major wallet our country has,  is actually doing good also, now that they improve it and put ETH on the same wallet togehther with our local currency and bitcoin. Even they tax crypto on the future, im still thankful that our government is so supportive regarding this matter.

[Qunetick]

Our country is a bit supportive when it comes to cryptocurrency. Coins.ph, the leading and major wallet our country has,  is actually doing good also, now that they improve it and put ETH on the same wallet togehther with our local currency and bitcoin. Even they tax crypto on the future, im still thankful that our government is so supportive regarding this matter.

I think in philipines,  cryptocurrencies bitcoin was strongly regulated for now and the transactions was really growing and in fact most of the registration in coins.ph has legit and strict confirmation  prior we get an assurance that each identity  were traceable. For this kind of implementation more scam related crimes is always subjected by law scrutiny, just what had happened lately this year of the couple who've been scamming  through bitcoin cojn investments was traced through their coins.ph involvement and seen on transaction history.

[East2011]

Because of overwhelming support of  the Filipinos in cryptocurrency. They make a big impact in the market. And this also show that Filipinos are doing well in crypto world.

[hacekd]

I have read an update about their situation, it turns out that their Central Bank only have issued guidelines (more like warnings) where people have been given aware of the scams and sites to avoid in paying Bitcoin. They have not prohibited the use of Bitcoin in that country but warned the people to avoid websites such as HYIPs if they don't want to lose their Bitcoin. It is amazing how the Philippines have it's citizens enjoy Bitcoin and other cryptocurrencies and how they issued warnings to protect their own Bitcoin.

The use of bitcoin for alternative remittances is being explored by many in the Philippines. The Philippines has an enormous money-transfer market, where the emigrant population of the country sends many of its funds back to their families.

[Zadicar]

I have read an update about their situation, it turns out that their Central Bank only have issued guidelines (more like warnings) where people have been given aware of the scams and sites to avoid in paying Bitcoin. They have not prohibited the use of Bitcoin in that country but warned the people to avoid websites such as HYIPs if they don't want to lose their Bitcoin. It is amazing how the Philippines have it's citizens enjoy Bitcoin and other cryptocurrencies and how they issued warnings to protect their own Bitcoin.

The use of bitcoin for alternative remittances is being explored by many in the Philippines. The Philippines has an enormous money-transfer market, where the emigrant population of the country sends many of its funds back to their families.

I can attest to this situation where money remittances or money transfer businesses is rampant on Philippines but basing on the current users of bitcoin im not saying that those remitances would be affected when it comes to profits because numbers are not just too high for it to be influenced but basing on numbers of users on yearly we can really able to see progress or increase which sooner or later those businesses will felt Bitcoins existence.

[lokanot0]

Well the increase of bitcoin transaction that comes in and out from banks is a very good thing, if this becomes more big, in can increase our economy growth, that is what i think. Filipinos are well-known to be quick learners. I can assure that at this moment, thousands of Filipino are doing transaction.

[bitcad4u]

Philippines support the cryptocurrency upto heart.One of my friend in Philippines,he said bitcoin can be easily used in Philippines.Many of the sectors accept bitcoin as a payment.Even though bitcoin is banned in some country,the price is stable above certain value due to the country like Philippines.`

[jonaire99]

Last week, it was reported that the Bitcoin transactions going in and out of the country has reached over $6 million, and now the Central bank of the Philippines will be issuing new guidelines regarding Bitcoin legality.

They gave no hint as to what their plans are, but officials from the Banko Sentral ng Pilipinas gave positive remarks, and even mentioned that cryptocurrency may help in the progress of the country.

If the officials of the Central Bank are positive about bitcoin legalization in the Philippines, that will be a good sign for filipino crypto holders and investors. But in legalizing a virtual coin, they might also planning to impose some rules or regulations to safeguard every citizen from any illegal use of bitcoin.

[Bharat24]

Position sign shows by the central bank of the Philippines. They will be issuing new guidelines about Bitcoin legality. That is the reason why growing transactions volumes in the Philippines.

[Andrew S]

Perhaps the Philippines will be able to improve its financial position on the world market thanks to bitcoin.