On Bitcoin, the Philippines and Coins.PH
I also delved into mining crypto-coins but my electricity costs and my alt-coin mining difficulty is at odds so I re-assessed the situation and concluded it was not cost effective anymore. So I stopped mining some years ago and I monitored the bitcoin scene and its infosec connection from the sidelines of social media.
This year, I read that Bangko Sentral ng Pilipinas (BSP) issued some guidelines on virtual currencies and for me this is some sort keeping up with the times of BSP (hehe acceptance of reality maybe) and is a long awaited good news overall. So I decided that the time is ripe for Philippines and Bitcoin so I searched what my friend Dexter of TechAthand.net and BestofRiyadh.com mentioned in one of his posts that a PH-based company is offering an easy way to buy bitcoins and do purchases and remittances with cheaper costs. So I researched more about that company (Coins.PH) and find that it’s very promising 🙂 . Luckily, a friend IRL mentioned that he is using Coins.PH too so this sealed the deal.
I registered at the Coins.PH website and downloaded the iOS app and tried using the Coins.PH services. And I am very happy to say that Coins.PH is very easy to use and is really promising as lot of merchants are using it to sell e-loads, pay bills (for telco/utilities like meralco) and allow sending of remittances. Payment is very easy too (via G-cash, 7-11 stores, Cebuana Lhuillier or bank transaction (online or OTC (over-the-counter). These are my top choices of payment but you can see other options in the website or app and use what is convenient for you. From my personal checking, the app and the website is secure, but of course I will be constantly be vigilant about this and will check it from time to time. I know that good security practices with your mobile phone and computing machines (PC/Macs) is a must for the overall security and safety of bitcoins transaction and other online financial activities. Update: I also had some good experience dealing with the support folks on some issues so this is another plus for them 🙂
To show my appreciation and support to Coins.PH and the bitcoin community around the world and in the Philippines I am doing this awareness post on Bitcoins and Coins.PH. I strongly recommend that you, my readers, friends (online and IRL) and supporters try Coins.PH too by registering using my Coins.PH referral link . Registration is FREE, but the good thing with registering using my Coins.ph link, we both earn 50 pesos each (credited to our Coins.PH wallet) when you complete the verification process. To complete the verification process they will require Identification (ID) card upload as to prevent potential abuse (hehehe shoutout to our friends at BSP and AMLC 😀 ). If you are not comfortable about uploading your ID and complete the verification it’s A-OK too, the only drawback is that you will have some daily transaction limit (P2,000) but still, the basic account can be a good way to try and have a hands-on feel on how to do wallet and bitcoin transactions.
Again I invite you to try Coins.PH its FREE and SAFE. And as the saying goes… there is no harm in trying 🙂
Hope you like my bitcoin and Coins.ph post. If you like bitcoin and coins.ph too please feel free to leave a comment at the end of this post or leave some comments at our facebook page.