Good News! Bitcoin goes Viral in Philippines and Thailand
The Philippine Government has officially recognised Bitcoin as a legal payment method following its growing popularity across the country. The central bank of the Philippines has released its guidelines for bitcoin exchanges operating in the country. You can read the full guidelines here.
The move comes months after officials of Bangko Sentral ng Pilipinas (BSP) mandate to regulate exchanges in bitcoin companies. The largest and most successful bitcoin company in the Philippines is coins.ph.
Why Bitcoin became Mainstream in the Philippines?
This company definitely made bitcoins mainstream in the entire country by establishing connections with major banks, utility providers, insurance companies, telecommunication companies, and universities.
Now, people can actually send money, pay water and electric bills, pay health insurance, top up mobile subscription, and even pay tuition fees in a much faster, cheaper, and more convenient way. Aside from online banking, and ATM deposits, they can also trade cash for bitcoins in 7-11 stores which are found everywhere across the country.
With its very low transaction fees, efficient service, and easy-to-use platform, more and more people are jumping in to use bitcoins for most financial transactions.
Filipinos are more than satisfied with the convenience brought about by this cryptocurrency as reflected by their feedbacks.
Soon after the success of bitcoin in the Philippines, the company extended their service to Thailand as coins.co.th.
Why Bitcoin became Mainstream in Thailand?
Fortunately, although there were notable resistance at first, the Thai government has finally approved the use of bitcoin in the country. You can see the news here https://cointelegraph.com/news/thailand-approves-fully-legal-bitcoin-exchange
Coins.co.th have also successfully partnered with the major banks and telecommunication companies in the country as shown
Similar functionality was also made available in Thailand which attracted a lot of people.
These recent developments have indeed brought the power of digital currencies into the hands of common civilians eventhough most of them have no technical idea on how cryptocurrency actually works. With bitcoin getting mainstream, the price will definitely skyrocket in the coming years. So hold your coins; we are millionaires in the making.
Aw, I didn't know this. This is excellent news!
The remittance companies must be crying themselves to sleep at night. the Phillipines one of the biggest consumers of remittance services. I was wondering when this would start. Pinoy Power! Here's what's going on in Vancouver BC https://steemit.com/bitcoin/@openparadigm/buying-bitcoin-is-getting-hard
Yes. But ironically, this bitcoin-based company also collaborates with remittance companies. I think it's their strategy to take over the market. haha
All they can take over is the exchange(which helps the liquidity of BTC) . And services for people who don't understand how to use BTC. They can't control the flow. The Spice must Flow
it's like a domino effect.. how many is that now? and who might be next?:D
Definitely more countries next. Bitcoin is going to the moon!
i think so too :)
Great news!
Time to hold bitcoins. We are at the golden age of cryptocurrency!
Bitcoin Cash getting more computing power support. Fees are very low. Regardless, good news for people who remit money. More choices. Less dependent on Moneygram and Western anymore.
https://steemit.com/f2pool/@tuventure/f2pool-moved-350-ph-s-to-bitcoin-cash-bitcoin-eclipse