Online shopping has drastically changed over the years and almost everything can now be bought on the world wide web. Payment methods have improved and in fact, I find it great that I can pay for my orders without giving any sensitive information like my bank account or credit card details.
How is this possible, you ask? Well, with Bitcoins, of course. It’s a revolutionised digital and secure way of storing money and making payments online. It’s a digital form of currency that’s not controlled by any institutions, hence saving you of any extra fees that they usually charge to their customers. Bitcoin is safe and encrypted and won’t require you to provide banking information or even your name. You can use it for buying things over the ‘net and just like conventional currencies like yen, dollars or euros, you can even trade and profit from them as well.
How To Buy Bitcoin in the Philippines
| Bitcoin Exchange | Payment Method | Fees |
| Coins.ph | Cash, Banks, 711 | Average |
| Abra | Cash, Bank | Low |
| LocalBitcoins | Cash, Bank | Average |
| Bitbit | Cash, Bank | Average |
| BuyBitcoin.ph | Cash, Bank | Average |
There are many websites that can help you manage your Bitcoins. One example is Coins.ph, where you can buy bitcoins and use them on spending for something. It’s actually easy and you have so many payment options available, which adds to your convenience.
- If you don’t have an account yet, sign up for one at Coins.ph. Log in and go to the Cash In tab.
Choose from different Cash-In outlet options. They have different options and each one categorised, so you can easily figure out which one’s best for you. Keep in mind though, that transactions take at least 24 hours to complete. If you’re in a hurry, choose 24/7 coinXpress options, and pay over the counter at any 7-11, Cebuana Lhuillier or M Lhuillier branches. - Click the Bitcoin Wallet button and put in how much you’d like to add to your wallet. It will then display how much the total due is, together with applicable fees, if there are any.
- The last step will show you deposit instructions, which will be sent via email and SMS as well. Just keep in mind that request will expire if payment’s not made in an hour after order placement.
If paying by bank deposit, provide the deposit reference and click the ‘Mark as Paid’ button on the order screen to confirm your payment. This will change your order status from ‘Awaiting Payment’ to ‘Processing’.
Good thing is, you can even buy Bitcoins over the weekend. This is just great as sometimes you may only remember Friday night that you need to pay for something the next day, only to realise that your Bitcoin wallet is running low on funds. Just follow the same process above and transfer funds from your BPI, BDO or GCash account to theirs. And if you’re already outside on a Saturday, might as well head to the nearest BDO branch and do an over-the-counter payment.
It usually takes 24 hours for Bitcoins to be transferred to your wallet and sometimes, if you’re lucky enough, processing time can even be faster than that. If it’s been more than a day and you still haven’t received the funds yet, don’t hesitate to contact them and they will gladly assist you with your enquiry.
Bitcoin has made a difference on my online shopping experience and I must admit, it’s more convenient and safer than traditional payment methods we’ve all known and grown used to. If you want a more secure and convenient method of payment for your online shopping spree, switch to Bitcoin too and you definitely won’t regret it.You can also earn from your Bitcoins by trading online. There are many ways to do this but if you’re not too familiar with how trading works, you can always avail the service of websites like Poloniex, Bittrex and Coinexchange.io. They will take your order in and record it on their order book, and will execute trading for you. Plus you are not limited to simple orders because with them, you can also do advanced orders and earn more from margin trading and stop loss orders. If you want, you can also go for brokers who can do the buying and selling of Bitcoins for you. But this is a more expensive option because just like currency and shares trading, they charge a certain fee for every transaction made.