Last month the bank announced that this atm is now operational. Bitcoin atm at a major bank union bank of the philippines ubp aka unionbank one of the largest banks in the country recently installed a bitcoin atm at one of its main branches with the approval of the central bank and in partnership with coins ph. Vouchers may also be boght online via gamex ph using smart or sun mobile payments.
They sell vouchers from 2 physical locations in makati city these vouchers can be redeemed online for bitcoins. Prepaidbitcoin ph is a unique bitcoin service in the philippines. This is more than just a platform for buying bitcoins because you can also pay your billers like utility bills sss contribution postpaid bills and even insurance plus you get a php 5 rebate for every unique bill you pay.
How to buy bitcoins in the philippines the most popular channel to buy bitcoins is coins ph. Not only has the bangko sentral ng pilipinas licensed some cryptocurrency exchanges but there are also peer to peer marketplaces bitcoin. The philippines has many places you can buy bitcoin from.
On one end it s just a lot of miners solving maths problems but on the other end it s like an autonomous digital fully automated payments robot that automatically records all transactions and lets you safely send money anywhere in the world without needing to use a bank or other payment service. That s how bitcoin and its blockchain work. You can send bitcoin from one part of the world to another instantly using just your computer or your mobile phone and it would cost you just a fraction of what you would normally pay for a bank wire or.
Sending bitcoin is cheap and easy. Bitcoin that is bought in the philippines is the same as bitcoin bought in the united states israel iceland argentina or anywhere else in the world. They are available in p200 p500 and p1 000 denominations.
Another way of getting bitcoin is via prepaidbitcoin cards which you can buy through prepaidbitcoin ph. The easiest way is to go through bitcoin exchanges like coinage coins ph or buybitcoin ph. There are a number of ways to get bitcoin in the philippines.
Bitcoin is not controlled by a single government or organization though companies that operate bitcoin services are regulated in the philippines by the bangko sentral.
How does bitcoin works in philippines. Bitcoin just like standard money is a medium of exchange. It has value can be converted to pesos and can be used to purchase goods and services from merchants.
It has value can be converted to pesos and can be used to purchase goods and services from merchants. Bitcoin just like standard money is a medium of exchange.
