Bitcoin is now Available in 6,000 Outlets all over Philippines

[MonsterV]

Paying in bitcoin would be great but you can't, they only let you buy some Bitcoin. My previous experience in buying bitcoin from 7-11(from coins) is you need to create your own barcode through the app then let them scan the barcode then pay after that it'll be credited on your account. It's good to see another exchange other than coins partnering with 7-11.

You're right with what you said because the last time I checked Abra is more a global investment (crypto and stocks ) platform than been use as a payment system and I'm not surprised with the news of their partnership with the 7-11 because the project was actually officially launched in Phillinpine since 2016. But, this positive news of partnership will definitely boost more crypto user and investors in the Philippine and around the world.

The competition between these companies are getting stronger as time goes by. This is a good thing for the Filipinos as we can expect that they'll offer a cheaper fees and better services, thanks to the competition between these two companies. As we have seen that Abra is trying to take over the coins.ph, being the first place in offering Bitcoin wallets for the Philippines; coins.ph need to make sure that it's not going to happen.

I think it is quite difficult for ABRA to take over position of coins.ph, because coins.ph has had a very good reputation in recent years in Philippines. But good enough for ABRA in its development so far, maybe I will see some new features in future that are no less good than coins.ph. So I don't want to compare too far because ABRA is still relatively new to compare with coins.ph.

[LogitechMouse]

I'm just happy that more and more establishments are accepting Bitcoin in our countries. This is a proof that we are embracing the new currency that came to our country .

Even though the adoption of Bitcoin and crypto in our country is expanding, I know that there are many of our countrymen will be scammed with the use of Bitcoin because of lack of knowledge about it so aside from adoption, I think what we need is people who can spread information about Bitcoin even just the basics (how it works and how to transfer and how to store etc.)

[lighpulsar07]

Well congratulations to abra!! what i like in abra is, you don't have to do KYC in order sell your bitcoins and turn into cash unlike in coins.ph you have to do your KYC in order to cashout but the disadvantages of ABRA over coins is the availability of cash out options abra is available on tambunting pawnshop and also, you can cashout to bank but the problem is it may take 3-7 days to credit it on your account unlike in coins.ph there are a lot of cash out options for the users anyways, i hope abra team continues what they are doing maybe we knew abra is the next rival of coins.ph

[Juliedarwin]

Happy to read about it, , Bitcoin gives a lot of prosperity to many people like me who really support and a bitcoin users. Coins.ph cash out your money from bitcoin almost a great but about this bitcoin will now have a 6,000 an available outlets all over the philippines is so much thankful i am.

[andreibi]

Right now we need more merchants accepting cryptocurrencies. I don't think it will be harder for the Philippine market compared to the US market. US customers are avid users of credit cards while in the Philippines, many don't have a credit card or banks at all.

Maybe this is the right time for a Trezor wallet that focuses on payments rather than cold wallet storage.

[phamminhtan]

This is made possible by Abra as they partnered with 7-11 stores in the Philippines this is according to the news posted by Cointelegraph however, as far as I remember, Coins.ph is the first one who partnered with 7-11 so people in the Philippines can buy Bitcoin in 7-11. I hope with this positive news, there will be more merchants in the Philippines who will start accepting Bitcoin. cointelegraph.com/news/all-7-eleven-stores-across-the-philippines-now-sell-bitcoin

Interestingly, I'm in Vietnam and haven't seen any stores that accept Bitcoin, why ABRA didn't choose Vietnam

[Mulann2]

The road to global adoption is very certain I must say, seeing all this news about btc being accepted in one place or another is an indication of what will be happening in the nearest future, very positive news for the crypto community, btc gaining recognition slowly, the future is bright for crypto all we need is patience.

[qiman]

It is all good that many Asian countries are adopting the real use case for Bitcoin which is for merchants and for buying and selling and transacting in general. I do hope more countries take this as a good example as to how to bring mass adoption through shopping. Abra has done well to choose a country that has a lot to do with the remittance Industry and is big in this regard. Hopefully the Philippines can grow it's economy through the mass adoption of Bitcoin as more and more people turn online to find work also and earn an income in Bitcoin.

[Distraction]

Philippines is very serious about cryptocurrencies. They are trying everything they can to not get behind the changing world and technology. By doing this, they are supporting Bitcoin usage and it is a nice thing even it doesn't directly affect Bitcoin price.

[enhu]

It is a good thing that bitcoin has been recognize here in the Philippines. The only means g of this is that our country is open for any kind of changes just like bitcoin which we can be used to buy online. But I do hope that bitcoin awareness should spread out not just in the city but of course to all remote areas.

Remote areas in the Philippines may not have heard of BTC yet. I from the outskirts of national capital region, almost a city, we got big malls also but doesn't have one BTC ATM. But its good to see there are several in the Philippines, I've seen one in Makati but never really got a chance to buy.

There is so much news that encourages the use of BTC but the price isn't moving up. I think they should also be convincing businesses/merchants to accept BTC in the Phils.

[pawanjain]

I have been getting to know much about Philippines these days. They have been involving much in bitcoin.
It's good to know that it has been such a good supporter of bitcoin while many other countries are going against it.
Good to see Philippines is promoting bitcoin at such a huge level.

[jake zyrus]

Woah. This one is a good news. Knowing that the Philippines are slowly adopting bitcoin and cryptocurrency. I know the Philippines is already positive towards cryptocurrency, but this kind of movement is a great way to introduce bitcoin and crypto to other Filipinos. Of course, it would be easier for crypto users to make transactions, the more the country would recognize crypto and develop such things. Although Philippines is a small country, I'm glad that they're one of the countries that's adopting crypto and bitcoin very fast.

[The Sceptical Chymist]

And I am also a user of Abra and no problem at all especially for their KYC, I already have multiple transactions with Abra and until now they are still not asking some of my personal documents.

No KYC?  Wow, you're lucky.  I just tried using a bitcoin ATM yesterday (which malfunctioned, of course) and it asked me for a scan of my ID and phone number for an SMS verification. 

And hey, go Philippines for the win.  Based on how large the community is on bitcointalk, I'm fairly sure bitcoin is very popular there and this is yet another step toward mass adoption.  We've got 7-11 stores in my country but they're not partnering with any bitcoin-related businesses (yet).  I'd love to see that sort of thing happen in the US, but I have a feeling it won't.

There is so much news that encourages the use of BTC but the price isn't moving up.

I wouldn't expect it to.  But with bitcoin under $9k right now, think of it as a buying opportunity that you might not see again.

[adzino]

This is actually a very good news for the people living in Philippines. If countries like this can easily adopt and spread the usage of crypto currencies, why can't our western countries do the same? Why are they so aggressive towards crypto currencies? Just look at Philippines, they are so crypto friendly. It won't be take long enough for them to become one the first countries to have real financial freedom. They should keep it up and expand the usage of crypto currencies even more!

[GreatArkansas]

And I am also a user of Abra and no problem at all especially for their KYC, I already have multiple transactions with Abra and until now they are still not asking some of my personal documents.

No KYC?  Wow, you're lucky.  I just tried using a bitcoin ATM yesterday (which malfunctioned, of course) and it asked me for a scan of my ID and phone number for an SMS verification. 

For my almost 3 years now in crypto, I still didn't heard any KYC things about Abra here in the Philippines, it's maybe because they are only registered with SEC and maybe this will be the reason too:
(we have 1 popular exchange here which is Philippine based that is extremeley strict when it comes about KYC, but if you compare it with Abra, it is really opposite)

(..)
every business that are form as corporation has to be registered with the SEC, and all those businesses that are in money services or what we called financial corporation has to be registered with the BSP at the same time, I think this is due to the AMLA (Anti money Laundering Act) which is under the monitoring of the BSP.

IIRC, before only Banks are requires to register with the BSP, but now they already include Pawnshops and other financial institutions including the crypto exchanges. SEC does not usually issue memos from time to time, it's the BSP that is actively issues memos and every businesses under its supervision has to comply with such issuance.

[nydiacaskey01]

Aside from this Cliq machine where we can buy Bitcoins, we can also buy Bitcoins in Shell Select gas stations and Mini Stop where there's a kiosk that works just like Cliq where you can add funds to your Coins.ph account. Shell Select is a convenience store within the Shell Gas station, its open when the gas station is open and Mini Stop is also a convenience store that is open 24/7.

[peter0425]

Official statement of Abra:
https://www.abra.com/blog/big-gulps-and-bitcoin-abra-now-available-at-all-7-eleven-stores-in-the-philippines/

This is probably a good news for Abra users, more cash in options for them. However, it would be better if the users will receive their cash in instantly (just like how it is in coins.ph) and not after 1-2 business days.

Yeah mate how can they compete against coin PH when the request will be received in another working days when in Coin.ph is instant that sometimes in just a second the request was already in place for withdrawals

But about the topic I think Abra is one of the most competent in the Philippines that may challenge Coins.ph foot favor the users of both

[ralle14]

Official statement of Abra:
https://www.abra.com/blog/big-gulps-and-bitcoin-abra-now-available-at-all-7-eleven-stores-in-the-philippines/

This is probably a good news for Abra users, more cash in options for them. However, it would be better if the users will receive their cash in instantly (just like how it is in coins.ph) and not after 1-2 business days.

Yeah mate how can they compete against coin PH when the request will be received in another working days when in Coin.ph is instant that sometimes in just a second the request was already in place for withdrawals

That's only one of the few negative things when cashing in from abra aside from the small delay there's more positives on their services like the wallet's private keys. Their KYC being less strict than other exchanges could be beneficial for some people who doesn't want to be bothered with their personal information.

Edit: Did anyone here tried cashing in from one of the outlets and how was the experience?

[cheezcarls]

This is made possible by Abra as they partnered with 7-11 stores in the Philippines this is according to the news posted by Cointelegraph however, as far as I remember, Coins.ph is the first one who partnered with 7-11 so people in the Philippines can buy Bitcoin in 7-11. I hope with this positive news, there will be more merchants in the Philippines who will start accepting Bitcoin. cointelegraph.com/news/all-7-eleven-stores-across-the-philippines-now-sell-bitcoin

All I can say is that 7-11 and Abra are doing great work for contributing towards crypto massive adoption in the Philippines. However, I would really love to see those banners inside or outside of each 7-11 outlet that we can now buy or sell Bitcoin.

In that way, it would begin true awareness to those who regularly buy stuff in 7-11. This is really huge for the Philippines, which proves to those haters and doubters before that Bitcoin is not a scam. I have some contacts who have their minds fixed that Bitcoin is truly 100% scam. But in the end, they just misunderstood and lazy enough to “Google” or “Youtube” it, or even reading the Wikipedia.

[Babyrica0226]

This is made possible by Abra as they partnered with 7-11 stores in the Philippines this is according to the news posted by Cointelegraph however, as far as I remember, Coins.ph is the first one who partnered with 7-11 so people in the Philippines can buy Bitcoin in 7-11. I hope with this positive news, there will be more merchants in the Philippines who will start accepting Bitcoin. cointelegraph.com/news/all-7-eleven-stores-across-the-philippines-now-sell-bitcoin

Is good to know that Philippines are now opened into crypto currency or bitcoin. Does 6000 outlets
that you are talking about is the 7-11 convenience store? Because nationwide 7-11 are everywhere in the Philippines.
Because as far as I know the exchange you have if I am not mistaken was 48 correct me if I'm wrong.