Satoshi Citadel Industries
brings you its third bitcoin service REBIT. Rebit.ph
was created by a local team of trusted Filipino entrepreneurs that have at least five decades worth of experience in doing business in the Philippines. If you are a Filipino abroad, you can rest assured you won't be sending money to a faceless site established three days ago. We are also the same team behind, Bitmarket.ph
, and are heavily invested in a long term bitcoin solution for the Philippines economy.Rebit.ph
is working on future solutions to the fiat conversion on the receiving end as we forge partnerships with other companies that can complement our service by, for example, allowing users to have debit cards that make the withdrawal of Bitcoin to fiat as frictionless and painless as possible. We also brought the first of many Bitcoin ATMs in the Philippines too support this infrastructure. There are plans to partner with Bitcoin companies all over the world to make it as easy as possible for users to acquire Bitcoin as well.
This won't be just a "buzzword" remittance solution but a real company that will concentrate on tackling a real problem in the Philippines. We will be providing a fully supported infrastructure and are looking at a long term and viable remittance solution using Bitcoin in our country.
After doing extensive research on existing remittance fees and rates, Rebit.ph
is able to lower the cost of using our service to make it the most inexpensive way to send money to the Philippines, given that you already have Bitcoin or have access to Bitcoins. One important thing that we are doing with Rebit.ph
is that we will not be making money off of the USD to Peso exchange rate and will be using the fairest published rate available in the market. This is where remittance companies make a killing, charging around 2.5% to convert your money on the average. We are also making it a point that we are 100% transparent when it comes to our fees and charges, even offering direct comparisons with other remittance companies for everyone to see. Our delivery options include forwarding to most local banks, as well as the most popular pawnshops and payment centers.
We also know that what we are doing now is a temporary solution. Combined with our other Bitcoin ventures in the Philippines like Bitmarket.ph
, we're hoping to close that loop in using Bitcoin to send money across borders. The end game would be that people receiving money will not need to cash out but be able to use the Bitcoin they receive to purchase goods, pay bills, and buy necessities. This is something that will take time, so for now, we're offering what we think is the best way to send money to the Philippines using Bitcoin with Rebit.ph
Please feel free to comment, suggest, or criticize if needed. We'd love to improve this service and hear feedback. Fellow Filipinos who are working abroad, don't hesitate to get in touch with us. We would love to hear from you.