Bitcoin adoption in the Philippines

Bitcoin adoption – The Philippines, known as the Pearl of the Orient Seas. The country is rich in natural resources such as nickel, copper, gold, silver and minerals.

 
The Philippines is a country with a population of over 100 million people with the average age of just over 24 years with 44,9% of people living in urban areas. An interesting fact is that over 70% of people in the Philippines do not have bank accounts – Bitcoin can potentially change the lives of millions! The economy is growing around 6,3% in 2016 and forecast at 6,1% for 2017.

The Philippines are embracing the new digital economy with Telecommunications well-developed due to the presence of modern infrastructure facilities. 100% penetration of mobile phones vs 10% in laptops and PC’s.

The Philippines is the third largest recipient of money from its workers overseas, after China and India, with $29,8bn received in 2015. Besides this number, there are internal remittances up to $70bn within the Philippines Рimagine the transfer costs associated with this? Bitcoin cost to transfer is negligible! Bitcoin can alleviate poverty.

There are Bitcoin Exchanges and OTC’s established, namely Coins.ph ; Buybitcoin.ph ; Rebit.ph ; localbitcoins.com – people can buy and sell bitcoin; make local and international payments, and also settle utility bills. There are also e-commerce platforms that accept bitcoin such as CashCashPinoy and MetroDeal – all geared towards making Bitcoin transaction easy and part of every day life.

Philippines is more than ready for Bitcoin РAsian, US and Latin cultures Рa fast-growing economy (second only to China and India in terms of growth in Asia) Р100 million population country should not be overlooked

The Central Bank is most concerned about cyber security as are we – make sure you keep your bitcoin safe and secure.

 

 

bitcoins safe

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