Since February 2107 Bitcoin has been legal in the Philippines. Though people/governments round the world seem misinformed about bitcoin as a whole and are reluctant to acknowledge it as viable currency; "Bitcoin is acknowledged by the Philippines!
It wasn't readily accepted in the past, however, this February, it became regulated by the Central Bank of the Philippines especially as a means for remittance. This now allow banks to come in!
Now, third parties may seen by crypto-enthusiasts as a minus, however, this is a plus, for regular internet citizens who want to interact with crypto and in this case steemit and the crypto-currency called "steem".
One major thing though, that may be on the mind of a Filipino, upon introducing him to steemit and showing him steemit posts with payouts is:
How do i get my cash/fiat/money?
Well, anywhere in the Philippines, this is really, really, really easy! In fact, you can seat in your house and wait for cash to be delivered to your home address in a method called cash delivery, administered by Coins.ph.
Hahaha, how fun is that! And just if you don't have an ATM, Coins.ph also tackles that as they provide you electronic details instantly, without fees that allow use ATMs all around the Philippines and the bank currently offering this convenience is Security Bank!
Next post, i will break down the entire process!
Coins.ph has a high reputation in the Philippines and i say this, solely because i have interacted with them and used their service. There customer service is top notch and i tell you, it is live chat!
This will shock you but it is true.
I am hopeful that i can pass this post around till it gets to coins.ph because a simple steem integration with coins.ph, will bring steemit to the mainstream in the Philippines. Why is this?
First take note that Coins.ph is very familiar with blockchain, look at this image below reference their API:
image source/credit to: coins.ph
Coins.ph is a popular and very normal remittance Philippine Pesos web interface & app. It is a hub integrated with all the popular remittance centres in the Philippines.
- There is directory of all the financial institutions including foreign/local banks as well as remittance centres here
- Popular remittance centers in the Philippines are: MLhuillier, Cebuana Lhuillier
- Popular remittances tied to popular Philippine Telecommunication carriers are: Smart Pera Padala and GCash
Yes; it is integrated with all of the popular banks here and recognized as an authentic means of payment for almost all utility bills in the Philippines. Hahaha, you can also buy airtime using coins.ph, thus it integrated with all popular phone carriers like Globe and Smart.
Don't, forget you can also shop, straight from the coins.ph interface as it is interfaced with popular online stores from all around Asia. As for going to physical stores, coins.ph offers gift cards.
Coins.ph also offers virtual debit cards for direct online shopping anywhere on the web accepting Master/Visa cards. If you have to pay with bitcoin:
Coins.ph has a separate bitcoin wallet and an address that allows you to pay for anything online using Bitcoin. To curb volatility, you can instantly convert your bitcoin to PHP or cash out. Note that you can receive bitcoin directly to your Coins.ph wallet address!
image source/credit to: https://app.coins.ph/wallet
Upon signing up, you will see how easy it is to use as its interface is like any other non-crypto-remittance app, like Paymaya etc
Another thing though that makes it popular is that they have a really good referral model, which has created jobs for many. Basically, people earn 50 Philippine pesos (1$), to refer one person to sign up on the app and do some levels of verification.
Coins.ph is easy to sign up on and also has really efficient IOS and Android apps but requires an easy verification to remove limits on fund transfer. Verification is easy; to get a 50,000 PHP (1,000$) daily limit, you will need to take a selfie of you holding you ID, straight from your app or PC as the case maybe along with submitting an attachement of your ID.
Converting steem to cash in the Philippines can be as easy as a, b, c really and since there is no steemit resource on the internet, that explains how easy this is in full details, i will tackle the Steps in my next post!
"A steemit account and @blocktrades (https://blocktrades.us)" and you are all set to get your steemit earning on hand or to pay bills anywhere in the Philippines.
Today, our aim is to write a steemit post that can reach coins.ph, to see if they can join steemit, to allow for direct conversion of steem to fiat, instead of going through bitcoin. Yes, all coins.ph will need to effect this, is a steemit wallet address i.e a steemit account.
They currently only have a bitcoin address which integrates instantly with PHP or fiat so to speak.
Steemit is a social network of reputable great minds sitting on a bare; fast, transaction-free steem blockchain, allowing users to distribute or be rewarded steem, for the value they bring to the blockchain. One such activity is blogging or offer Fiverr-like services called #steemgigs, thus, coins.ph will benefit greatly if they joined steemit, to offer easier access to steem for Filipinos.
Basically, a really big issue with bitcoin are; high fees and really slow transactions, which creates avenues for huge losses for users of bitcoin and steemit easily fixes this; "with its zero-fees and "3 seconds" block-time".
For first timers to steemit from the Philippines, don't fret; you can very easily hold your steem as PHP; in your hands! We have a popular exchange right here on steemit, with username @blocktrades administering exchange among cryptocurrencies and alas; You don't require sign up!
image source/credit: www.blocktrades.us
Moreover, @blocktrades is here with us on steemit and does love steem. This is evident on their social activity on steemit. It is not unheardof of, to see @blocktrades leave comments on an interesting post. This is added guarantee of authenticity and should give you confidence in their service.
Watch our for the next part of this post, that will lead you with steps, on how to withdraw or cash out your steem to cash (PHP) on hand!
Leave a comment containing your thoughts or unanswered questions; i will get to them and answer!
Your boy Terry
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