Bitcoin could be used to pay for Bills,load and for travel in the Philippines

[0t3p0t]

can foreigners enjoy this fantastic opportunity of using this native bitcoin wallet of the Philippines?

I think this is only for the Filipino citizens due to KYC but I am not that sure if it really is and one thing is for sure they offer a lot of services that accepts Bitcoin payments. Philippines is a cryptocurrency friendly country that where the government implemented regulations for the local cryptocurrency exchanges. The services on that local exchnage could save time for the Filipinos falling in line in a crowded and unsafe area.

[1715597285]

1715597285

[1715597285]

1715597285

[BrewMaster]

But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.

yeah, but HODL to what end?
we all talk about wanting or hoping for price rise and adoption but when it comes down to ourselves it seems like some of us forget everything and are still clinging tight to the fiat that we were criticizing right before that.
it is great to HODL bitcoin but we should also not lose sight of the fact that bitcoin is meant to be used as a currency not something you HODL to eventually dump and get a large amount of "fiat"!

[btc_angela]

You have to understand where Filipinos are coming from. Filipinos loves to enjoy the last minute rush to pay their bills. Wherein there's a long line of people, throng of people trying to pay their bills because it's the last day of cut-off. But with coins.ph features, it makes it easy to pay without going out so it's really advantageous. Of course, we would love to hold, but sometimes you have to take advantage of what coins.ph has to offer so I'm sure a lot of Filipinos pay their bills with bitcoin as what the OP is doing or suggested.

[xvids]

But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.

Maybe what the OP is trying to say is that in the Philippines, you can spend your bitcoins just like what others may have wanted it to be, for micro payment transactions.

I'm sure that with the OP's rank, he knows a thing or two with the word, HODL. He/she may have experimented paying monthly bills with his bitcoins, but for sure he/she may have stash some of it for the purpose of HODLing. 

Yeah I never tried paying bills with my Bitcoin even if I could use it,
I am just proud to share that in the Philippines we support bitcoin and could use it as a regular currency to pay almost anything evan our taxi fare

But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.

yeah, but HODL to what end?
we all talk about wanting or hoping for price rise and adoption but when it comes down to ourselves it seems like some of us forget everything and are still clinging tight to the fiat that we were criticizing right before that.
it is great to HODL bitcoin but we should also not lose sight of the fact that bitcoin is meant to be used as a currency not something you HODL to eventually dump and get a large amount of "fiat"!

Yep we should also learn when to quit holding it,
Sometimes it's better to quit than to continue hurting yourself😂,
I have some friends who believe in their alt-coins and ended up having nothing.

[letecia012]

Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.

Yes you can but the price margin is quite is high maybe around 5-10% which is not advisable to use if you have some fiat in your wallet as ehat others say use only when it needed or if you have no fiat in your wallet

[Lpim01]

Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.

Yes you can but the price margin is quite is high maybe around 5-10% which is not advisable to use if you have some fiat in your wallet as ehat others say use only when it needed or if you have no fiat in your wallet

I really don't know why people always looking for bitcoin as an investment, in fact, Bitcoin is just intended to used just like of fiat money and not for investment only. Since it is already accepted to our country(Philippines), then why we don't want to grab this opportunity. Every country have looking such thing also..

[meanwords]

Yes, the Philippines is already adopting the concept of micro-transaction where people are able to use Bitcoin to buy small things. With this, anything can be possible. I'm amazed on how this country permits the usage of Bitcoin and cryptocurrency but the regulation is not that heavy.

[pushups44]

Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.

That's great to see bitcoin have more use cases over time, taking the place of fiat currencies to pay for goods and services. I believe bitcoin will be especially valuable in the developing world due to its economic and political instability leading to occasional hyperinflation.

[LUCKMCFLY]

Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.

That's great to see bitcoin have more use cases over time, taking the place of fiat currencies to pay for goods and services. I believe bitcoin will be especially valuable in the developing world due to its economic and political instability leading to occasional hyperinflation.

This is very beneficial, as they do in some airlines that give the option of payment through Bitcoin, every service that can be paid with Bitcoin is excellent, it expands more and more and this makes the market in general begin to grow, simply because there will be people who will be integrated into the bitcoin world, and possibly investors.

[Juggy777]

Here in the Philippines we could use our local wallet called coins.ph to buy load pay for our electric,water and credit card bills and even book for travel.

Hey that’s nice to hear but can you give more specifics of this local wallet, is it a secured wallet and most importantly a decentralised wallet?. Also what are the transactions costs you’re incuring when you’re paying it with bitcoins, and how soon does the confirmation takes place. Lastly op I would not advise you to use bitcoins for every small transaction, use it if it’s necessary you’ll earn more from it if you hodl it.

[lienfaye]

Well its an advantage to use this wallet compared to others due to its features and just like what op said you can pay your bills and top up your phone without the need of falling in line.

Its been 5 years since coins.ph were created and it is beneficial for the filipinos to have this local wallet with such features. The only problem that I see is you dont hold your private keys, thus they have the authority to suspend your account if you violate their rules.

Nevertheless, I prefer to keep hodling and buy additional bitcoins because the price is cheap. Thats why I refrain myself from spending it for paying bills and buying goods.

[Dudeperfect]

But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.

To be honest, Bitcoin is a payment system in its core and if we are not using it as a payment instrument then we are destroying it. This whole system is based on trust that someone will pay x amount or goods of equivalent amount against 1 bitcoin and if no one is spending it then no one will accept it on the other side this will reduce the value and trust on Bitcoin over the period of time. Hence in order to improve the utility value of Bitcoin, we must start using it as a payment instrument.

[hridoyb]

But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.

Agree with you here on all accounts. 
Just because you are physically able to pay with BTC doesn’t necessarily mean it’s the wisest idea.

Why not? Poeple keep holding bitcoin and trading other cryptos, making a fake impression that these are some pseudo-securities or commodities. Bitcoin IS money and it SHOULD be used to pay the bills and everything. Given the bearish market, it seems reasonable to save some BTC for later, just like sometimes people make fiat savings. But the rest of it should circulate, should be useful in the real life. I would gladly use my Bitcoin to pay the bills, for instance. Unfortunately, each time I have to sell my BTC for fiat and then use it. Bitcoin is the better money, so why not use it in accordance with its main purpose?

Unfortunately Bitcoin is not money. At least not yet.
It is still an asset and this is how it will remain until the volume that forms the BTC rates will come from those users that are paying bills with it and treating it as a currency and not an asset. Right now people are still trading it as an asset more than they use it as a currency.

Yes,i agree with you people use bitcoin only for trading or asset but never use it for currency. Bitcoin transaction fee is so high so i think donot need pay bill or other payment use bitcoin.Another way you can convert bitcoin to USD and then try to pay the utility bill or other payment otherwise it's not a good decision to use bitcoin for bills or payment.

[mk4]

Yes. We can. But let's be completely honest and realistic here. Majority of the Coins.ph users use the app to buy all these things using their fiat wallet, not their bitcoin wallet. Not everyone wants to handle volatile assets, especially the poorer people as they'd definitely need money ready at all times.

Not saying that this is a bad thing though, having the option to pay with BTC is always good.

[AjithBtc]

Coins.ph being one of the the most used wallet around Philippines giving access to more services accepting bitcoin surely adds more user to the bitcoin user community. Already there were more and more marketplace with bitcoin acceptance, now paying electricity and other necessities with bitcoin will help in the growth of bitcoin.

[jseverson]

Unfortunately Bitcoin is not money. At least not yet.
It is still an asset and this is how it will remain until the volume that forms the BTC rates will come from those users that are paying bills with it and treating it as a currency and not an asset. Right now people are still trading it as an asset more than they use it as a currency.

Actually, by definition, money can be an asset. I see what you're trying to say though, and I disagree. Bitcoin is money; it's just a bit problematic how people are actually incentivized not to spend it.

And you said it yourself. Things will never change until people actually use it as money. I get that it's probably not financially wise to spend it because it could easily be worth 10x more in the future, but it won't actually get to that point if everyone just relied on everyone else to do the dirty work.

[steampunkz]

But I wouldn't use Bitcoin to pay for anything that fiat can pay with unless it's very necessary, if I were you. Bitcoin is a provably scarce resource, don't waste it. HODL.

That's opinion mate. But sometimes for me, if its really in case of emergency especially if you are out of pocket money, and also need some bills to pay, need for food and for commuting too. I have been using bitcoin quite some time to pay those ones.

[Capt00]

Coins.ph being one of the the most used wallet around Philippines giving access to more services accepting bitcoin surely adds more user to the bitcoin user community. Already there were more and more marketplace with bitcoin acceptance, now paying electricity and other necessities with bitcoin will help in the growth of bitcoin.

As what mjglqw said the reply above of your's, Coins.ph users most likely used their fiat to pay bills and other necessities but not their own Bitcoin. I must prefer to wait when the market recovers and use my bitcoin rather than used in the unnecessary thing which is you just wasting profit with bitcoin opportunity.

[Bitcoindigger02]

The development of Bitcoin in the Philippines seems quite positive. The central bank document acknowledges the possibilities Bitcoin brings to the country. Moreover, the country has no plans to create independent licensing requirements for Bitcoin, which is good. The new scheme is expected to come into effect on February 21, 2017. What legal effects will Bitcoin have on its use in the Philippines?

[purple.thoughts]

Yes, I agree with this. Filipinos do have their facility to buy load exchange Bitcoin to fiat, pay bills and even book flights. They have this application or rather mobile application used in order for them to these things. The mobile application is called coins.ph. They are so lucky because they a separate application for local Bitcoin wallet.