My Responce to @surpassinggoogle's call to Add SBD and Steem to coinsph wallet

INTRODUCTION

Hello Philippines and Steemians, This is my response to @surpassinggoogle's call on adding SBD AND STEEM to Coins.ph.

I cant make a video right now because I lost my phone and laptop so I write a post about this call.

Before I start my response, I want to thank @surpassinggoogle for being nice to us and helpful support in our team. He has a kind heart and caring to everyone. I will always support any movements and projects of sir @surpassinggoogle.

Receive updates on my post, blog, news, story etc by following @alfren.

THE COINSPH

Coins.ph is the leading Bitcoin Remittance Center in the Philippines. You can buy and sell bitcoin using their web wallet or mobile application. More than 1.2 Million people were using their application.

It supports two (2) major cryptocurrency today, the BITCOIN which is the mother of all altcoin and ETHEREUM which is always 2nd to BITCOIN.

Coins.ph is the Asia's largest Bitcoin Exchange and have been partnered to major remittances and banks all over the Philippines. It is considered the most useful wallet today and next to Gcash.

The growth of the users is very fast. I still remember the time when someone introduce me to coins.ph last 2015. That time, coinsph has only 100,000+ users and their referral reward is only PHP15. In just 3 years, more than a million users already put their trust to coins.ph.

PROBLEM WITH BITCOIN

Over the years, Bitcoin became famous due to its fast increase in value that attract many investors. Most of them have no idea what is bitcoin and how it process every transaction.

In the 3rd quarter of 2017. The world of cryptocurrency was shocked that the price of each bitcoin become 20,000 USD from its previous value of 3000 USD a month ago.

But here is the problem, when bitcoin gain its record high of 20,000 USD, the transaction fee also increase 8 to 15 times than its normal fee when the price of bitcoin was around 3000 USD.

Due to that problem, many bitcoin users traded their bitcoin into Ethereum and Litecoin which offers a lower transaction fee. That time, many were confused if bitcoin will continue to rise. So they traded their bitcoins to other altcoins. By these action, Bitcoin slowly decrease its value until it almost reach 5500 USD.

Now, bitcoin has a hardtime to make fast transaction and lower fees. So, the crypto enthusiast sees Ethereum as the next bitcoin. This is also the problem of coinsph so they adopt ETHEREUM to their wallet because many were shifting from bitcoin to ethereum.

One more problem with bitcoin is the speed of transaction. Sometimes I experience almost 2days confirmation duration to my transaction. I dont know if this is also happens in you.

THE ETHEREUM

I can say that ETH is always the next bitcoin. It offers a fast transaction with lower fees compared to bitcoin. That is why coins.ph Added Ethereum to their wallet. Ethereum is still better than Bitcoin.

I had a question in my mind that when bitcoin reaches 20,000 USD, the fee also increase so we can see that if Ethereum becomes 20,000 USD, I cant tell that the fee is still lower.

SBD AND STEEM

SBD and Steem, both altcoins offers the fastest transaction (3 to 10 seconds) with 0 USD transaction fee. This is the advantage of STEEM and SBD.

CONCLUSION

After coinsph added Ethereum to their wallet. Many Pilipino steemians use ETH to trade their SBD AND STEEM to ETH and transfer it to ETH in coins.ph so that they can cash it out or cash it in. This is one of the market place that coins.ph should see. The volume of transaction making is STEEM and SBD is far higher than the combine transaction of the top 5 cryptocurrency listed on Coinmarketcap.

Due to growing number of SBD AND STEEM users in the Philippines, we can see the future of STEEM and SBD. It offers a free transaction fee and coinsph should realize that they can get a huge market on it.

If I were the owner of coinsph, I will include SBD and STEEM and put a super little transaction fee when sending SBD and STEEM to external wallet. In the action, Coinsph will earn little in every transaction but if you will compute it in volume, it is very huge and coins.ph will benefit on it.

One more thing is they will get the market of steemians and all of it is in favor to coins.ph.

Hope everyone learned from this post.

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