The coin will utilize the blockchain technology of Ethereum and will also employ a system similar to one used in South Korea. While they currently offer the service of mobile remittance of crypto from Canada to the Philippines via Telcoin, the potential to further venture into related cryptocurrency services could potentially be groundbreaking. A Crypto Future All things considered, the future of cryptocurrency in the Philippines is undeniably bright.
With both government authorities and local companies at the forefront of the movement, there is an increasingly high potential for cryptocurrency exchanges to continue their growth locally. For similar insight into burgeoning movements, developments, and industries across Asia, subscribe to our newsletter here. Read other insights See All Insights. Stay ahead in the rapidly changing Asia. Blockchain assets are a type of digital asset or cryptocurrency. Some could represent stakes in a particular organisation while others are intended to be currencies such as Bitcoin and Ethereum.
Despite a growing number of organisations having expressed their desire to enter the blockchain field — there are still a number of barriers to blockchain adoption. They include a lack of scalability, lack of standardisation, lack of blockchain developers and due to their complexity and their encrypted, distributed nature — blockchain can be slow and cumbersome.
One of the possible solutions to the current barrier of blockchain assets adoption in the market is a stable fiat-pegged blockchain asset — and this is what Creditz Base Group Limited CBGL does. The key factor that CBGL is addressing is the inability to do blockchain assets settlement quickly and safely due to market risks such as high volatility in pricing and unstable liquidity. Its BOCT platform is the first private blockchain-based digital money platform for cross border payments to a designated destination of choice.
Therefore, the application of BOCT in the new millennial era is integrated into a unique and reliable trading platform which offers more versatile access to crypto-financial services. The BOCT platform is expected to be a trendsetter that creates operational efficiencies, in the form of faster validation of settlements for many merchants and is set to redefine cost-savings strategies in the new digital consumer era.
In , the Philippine Revolution began, which then became entwined with the Spanish—American War. Spain ceded the territory to the United States, while Filipino revolutionaries declared the First Philippine Republic.
The ensuing Philippine—American War ended with the United States establishing control over the territory, which they maintained until the Japanese invasion of the islands during World War II. Following liberation , the Philippines became independent in Since then, the unitary sovereign state has often had a tumultuous experience with democracy, which included the overthrow of a dictatorship by the People Power Revolution.
It is considered to be an emerging market and a newly industrialized country , which has an economy transitioning from being based on agriculture to being based more on services and manufacturing. The Philippines' position as an island country on the Pacific Ring of Fire and close to the equator makes the country prone to earthquakes and typhoons.
The country has a variety of natural resources and a globally significant level of biodiversity. Eventually the name " Las Islas Filipinas " would be used to cover the archipelago's Spanish possessions. From the period of the Spanish—American War and the Philippine—American War — until the Commonwealth period — , American colonial authorities referred to the country as The Philippine Islands , a translation of the Spanish name.
There is evidence of early hominins living in what is now the Philippines as early as , years ago. From there, they rapidly spread downwards to the rest of the islands of the Philippines and Southeast Asia. The earliest known surviving written record found in the Philippines is the Laguna Copperplate Inscription.
During its rule, Spain quelled various indigenous revolts ,  as well as defending against external military challenges. Administration of the Philippine islands were considered a drain on the economy of Spain,  and there were debates to abandon it or trade it for other territory. However, this was opposed due to economic potential, security, and the desire to continue religious conversion in the islands and the surrounding region. British forces occupied Manila from to during the Seven Years' War , with Spanish rule restored through the Treaty of Paris.
In the last quarter of the 19th century, Spain conquered portions of Mindanao and Jolo ,  and the Moro Muslims in the Sultanate of Sulu formally recognized Spanish sovereignty. In the 19th century, Philippine ports opened to world trade and shifts started occurring within Filipino society. This identity shift was driven by wealthy families of mixed ancestry , to which it became a national identity.
Revolutionary sentiments were stoked in after three activist Catholic priests were executed on weak pretences. Rizal was eventually executed on December 30, , on charges of rebellion. This radicalized many who had previously been loyal to Spain. The Katipunan started the Philippine Revolution in In , the Spanish—American War began and reached the Philippines.
Aguinaldo returned, resumed the revolution, and declared independence from Spain on June 12, Cultural developments strengthened the continuing development of a national identity,   and Tagalog began to take precedence over other local languages. Laurel , was established as a puppet state. By the end of the war it is estimated that over a million Filipinos had died. Efforts to end the Hukbalahap Rebellion began during Elpidio Quirino 's term,  however, it was only during Ramon Magsaysay 's presidency that the movement was suppressed.
Garcia , initiated the Filipino First Policy ,  which was continued by Diosdado Macapagal , with celebration of Independence Day moved from July 4 to June 12, the date of Emilio Aguinaldo's declaration,   and pursuit of a claim on the eastern part of North Borneo. In , Macapagal lost the presidential election to Ferdinand Marcos. Early in his presidency, Marcos initiated numerous infrastructure projects  but, together with his wife Imelda , was accused of corruption and embezzling billions of dollars in public funds.
Marcos called a snap presidential election in The return of democracy and government reforms beginning in were hampered by national debt, government corruption, and coup attempts. Ramos , whose economic performance, at 3.
Economic growth continued during Benigno Aquino III 's administration, which pushed for good governance and transparency. The Philippines is an archipelago composed of about 7, islands ,   covering a total area, including inland bodies of water, of around , square kilometers , sq mi ,   with cadastral survey data suggesting it may be larger. Sulawesi is located to the southwest and Palau is located to the east of the islands.
The highest mountain is Mount Apo. It measures up to 2, meters 9, ft above sea level and is located on the island of Mindanao. Situated on the western fringes of the Pacific Ring of Fire , the Philippines experiences frequent seismic and volcanic activity. The country has valuable  mineral deposits as a result of its complex geologic structure and high level of seismic activity. Despite this, a lack of law enforcement, poor management, opposition due to the presence of indigenous communities, and past instances of environmental damage and disaster, have resulted in these mineral resources remaining largely untapped.
The Philippines is a megadiverse country. Around 1, land vertebrate species can be found in the Philippines including over mammal species and bird species not thought to exist elsewhere. Because of this, the rate of endemism for the Philippines has risen and likely will continue to rise.
Large reptiles include the Philippine crocodile  and saltwater crocodile. Notable birds include the Celestial monarch , flame-templed babbler , Red-vented cockatoo , Whiskered pitta , Sulu hornbill , Rufous hornbill , Luzon bleeding-heart and the Flame-breasted fruit dove. Philippine maritime waters encompass as much as 2,, square kilometers , sq mi producing unique and diverse marine life,  an important part of the Coral Triangle , a territory shared with other countries.
With an estimated 13, plant species in the country, 3, of which are unique to the islands,  Philippine rainforests boast an array of flora,  including many rare types of orchids  and rafflesia. The Philippines has a tropical maritime climate that is usually hot and humid. There are three seasons: a hot dry season or summer from March to May; a rainy season from June to November; and a cool dry season from December to February. The southwest monsoon lasts from May to October, and the northeast monsoon from November to April.
The coolest month is January; the warmest is May. The average yearly temperature is around In considering temperature, location in terms of latitude and longitude is not a significant factor, and temperatures at sea level tend to be in the same range.
Altitude usually has more of an impact. The average annual temperature of Baguio at an elevation of 1, meters 4, ft above sea level is Sitting astride the typhoon belt , the islands experience 15—20 typhoons annually from July to October,  with around nineteen typhoons  entering the Philippine area of responsibility in a typical year and eight or nine making landfall. The Philippines has a democratic government in the form of a constitutional republic with a presidential system. Senators are elected at large  while the representatives are elected from both legislative districts and through sectoral representation.
There have been attempts to change the government to a federal , unicameral , or parliamentary government since the Ramos administration. As a founding and active member of the United Nations,  the country has been elected to the Security Council. Romulo was a former president of the United Nations General Assembly.
The Philippines has a long relationship with the United States , covering economics, security, and people-to-people relations. Under President Duterte ties with the United States have weakened  with military purchases instead coming from China and Russia,   while Duterte states that the Philippines will no longer participate in any US-led wars.
The Philippines attaches great importance in its relations with China , and has established significant cooperation with the country. Historical and cultural ties continue to affect relations with Spain. The largest of its controlled islands in Thitu Island , which contains the Philippine's smallest village.
In Bangsamoro, the largest separatist organizations, the Moro National Liberation Front and the Moro Islamic Liberation Front were engaging the government politically as of [update]. The Philippines is governed as a unitary state , with the exception of the Bangsamoro Autonomous Region in Muslim Mindanao BARMM ,  although there have been several steps towards decentralization within the unitary framework. The Commission on Population estimated the country's population to be ,, as of December 31, , based on the latest population census of conducted by the Philippine Statistics Authority.
A third of the population resides in Metro Manila and its immediately neighboring regions. Metro Manila is the most populous of the 3 defined metropolitan areas in the Philippines  and the 5th most populous in the world. There is substantial ethnic diversity with the Philippines, a product of the seas and mountain ranges dividing the archipelago along with significant foreign influences. Negritos are considered among the earliest inhabitants of the islands.
South Asian ancestry was also detected with Filipinos and peaking among the Dilaut people. Chinese Filipinos are mostly the descendants of immigrants from Fujian in China after ,  numbering around 2 million, although there are an estimated 20 percent of Filipinos who have partial Chinese ancestry, stemming from precolonial and colonial Chinese migrants. Ethnologue lists individual languages in the Philippines, of which are living languages, while 4 no longer have any known speakers.
Most native languages are part of the Philippine branch of the Malayo-Polynesian languages , which is itself a branch of the Austronesian language family. Filipino and English are the official languages of the country. The Philippines is a secular state which protects freedom of religion.
Islam is the second largest religion. The Muslim population of the Philippines was reported as 6. In , Seventy percent of nursing graduates go overseas to work. As of [update] , the Philippines was the largest supplier of nurses for export.
There is improvement in patients access to medicines due to Filipinos' growing acceptance of generic drugs , with 6 out of 10 Filipinos already using generics. As of April , there are only about 7 million individuals covered by these plans. The Philippines had a simple literacy rate of In the budget, education was allocated PHP The majority of colleges and universities follow a semester calendar from June to October and November to March, while some have adopted an increasingly common semester calendar from August to December and January to May.
The school year will last days and will end on June 24, The Department of Education DepEd covers elementary, secondary, and non-formal education. In , madaris were mainstreamed in 16 regions nationwide, mainly in Muslim areas in Mindanao under the auspices and program of the Department of Education. A newly industrialized country ,   the Philippine economy has been transitioning from one based upon agriculture to an economy with more emphasis upon services and manufacturing.
The unemployment rate as of October [update] , stands at 4. The Asian Financial Crisis affected the economy, resulting in a lingering decline of the value of the peso and falls in the stock market. The extent it was affected initially was not as severe as that of some of its Asian neighbors. This was largely due to the fiscal conservatism of the government, partly as a result of decades of monitoring and fiscal supervision from the International Monetary Fund IMF , in comparison to the massive spending of its neighbors on the rapid acceleration of economic growth.
In , the economy experienced 6. Remittances from overseas Filipinos contribute significantly to the Philippine economy. The Department of Science and Technology is the governing agency responsible for the development of coordination of science and technology-related projects in the Philippines. The Philippines bought its first satellite in The travel and tourism sector contributed Transportation in the Philippines is facilitated by road, air, rail and waterways.
As of December , there are , kilometers , mi of roads in the Philippines, with only 65, kilometers 40, mi of roads paved. A network of expressways extends from the capital to other areas of Luzon. Despite wider historical use, rail transport in the Philippines is extremely limited, being confined to transporting passengers within Metro Manila and neighboring Laguna , with a separate short track in the Bicol Region.
As an archipelago, inter-island travel using watercraft is often necessary. A variety of boat types are used throughout the islands, such as dugouts baloto and house-boats like the lepa-lepa. There is significant cultural diversity across the islands, reinforced by the fragmented geography of the country.
One of the most visible Hispanic legacies is the prevalence of Spanish names and surnames among Filipinos; a Spanish name and surname, however, does not necessarily denote Spanish ancestry. There is a substantial American influence on modern Filipino culture. It has contributed to the influence of American pop cultural trends. The Ati-Atihan , Moriones and Sinulog festivals are among the most well-known. As a general description, the distinct value system of Filipinos is rooted primarily in personal alliance systems, especially those based in kinship, obligation, friendship, religion particularly Christianity , and commercial relationships.
Filipino values are, for the most part, centered around maintaining social harmony, motivated primarily by the desire to be accepted within a group. The main sanction against diverging from these values are the concepts of " Hiya ", roughly translated as 'a sense of shame',  and " Amor propio " or 'self-esteem'.
Of course, you have to be wary of those kinds of transactions. Make sure you have vetted the person you are transacting to before giving money to them. Above are the steps to buy Ethereum currently in the Philippines. While definitely not as convenient as bitcoin, Ethereum is a really popular cryptocurrency that we should get interested to.
Good morning sir, i have successfully transferred bitcoin from coins. If you bought ethereum, you cannot send it back to Coins. But if you have began buying bitcoin straight on bittrex, you can send those coins back to your coins. Also, you might want to wait as Abra will launch their Ether wallet very soon so no need to convert back to btc and transfer back to Coinsph. This is really Helpful. I want to focus on ether as well. They do have some minimum amount though.
The alternative for coins, abra, etc are exchanges, like bittrex, quoinex, and so on. We should have a guide this week on understanding exchanges part of our intermediate guide to buying cryptocurrency. And if you have topics you want us to cover, just let us know. And lastly, thank you for raising these questions. Sir kamusta naman yung experience nyo sa Quoinex tungkol sa pag cash-in, cash-out, at pag exchange?
Lately medyo slow si Quoinex Platform sa Google Chrome. For now, we recommend going to another cryptocurrency exchange, such as Bittrex. As always, test things with small amounts first. Bitcoin and Ether are experiencing increased user growth. If something goes wrong, the customer support might be slow.
Update lang. Mukang di pala pwede. A comment from Janus pointed it out. If you are going to widraw your eth you will have to convert to bitcoin first then transfer to external bitcoin wallet. Again, thank you for adding valuable input here in Bitpinas!
On the Coins. Minimum ng CEX is 0. So how do you pick up which one to invest […]. Just like Ethereum is the project and Ether is the token. You can read our coverage of the process in our article: How to buy ethereum in the Philippines.
Recent developments though may change that, as SCI Ventures, the company behind buybitcoin. A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas. Skip to content. Cryptocurrency How To Guides.
Share some Bitpinas love:. Table of Contents. Follow on social and subscribe to our newsletter. Oldest Newest Most Voted. Inline Feedbacks. Junel Kadatar. Reply to Junel Kadatar. Reply to Ej. Also, Abra, an app operating in the Philippines will support Eth soon. Please help coz I want to focus on Ethereum. Reply to Sam Sanchez. Reply to Mike. Whats your alternative for coins. Reply to sixto emmanuel francisco. Reply to Eoj Reply to janus. Cyril Cadangdang. Ask ko lang po, pwede ba magsend ng ETH from coins.
Mike Mislos. Reply to Cyril Cadangdang.
Then all our data, all our emails are gone forever. Also, if by any chance Google becomes a bad company, it might delete our emails for no reason at all. Within apps and software on the Ethereum platform, the control of your data goes back to you. Through the blockchain , the data is in a unified ledger. It is decentralized. So if one part of the blockchain shuts down, your data is still there because it is decentralized each part of the blockchain has your data, but only you can access it.
Similarly, you cannot edit whatever I wrote, but you can do it with yours. This is the simplest analogy I can think of right now. They differ in purpose. Bitcoin is built to facilitate decentralized digital cash transactions. Ethereum is built to allow users to create decentralized applications. So how can we buy Ethereum in the Philippines?
Think of it as the token you buy to purchase something in the Ethereum network. It is also the reward given to people who add something valuable to the network. To know more, please check this article:. Register for CEX. Also since this is a trading platform, you will be the one to set your prices for how much you want to buy per ether.
You can now buy ethereum over-the-counter in the Philippines, thanks to Moneybees. Abra is a bitcoin wallet, so our underlying currency is bitcoin. You can now get ether at Abra. The process is almost similar to buying bitcoin at Abra.
But just so you do not need to check the previous link, here are the short steps:. For the steps above, test it with small amounts first! The instructions above are straight from Abra themselves. They mentioned 2 — 4 business days before the amount gets debited to your wallet.
You may contact Abra here for any queries. Update Dec. Thank you to commenter Janus to mention that information. You can buy ether at cryptocurrency exchanges. In the steps below, we used Bittrex to buy our ether. Bittrex is the 3rd largest cryptocurrency exchange and a lot of altcoins are traded there. We have articles on how to proceed from buying altcoins at Bittrex. These steps will detail the procedure from Coins. Quoinex is a cryptocurrency exchange service based in Singapore that supports Philippine Fiat Philippine Peso.
We recommend trying other exchanges such as Bittrex or CX if you want to buy ethereum. You are trusting the exchanges of your Ethereum because they have your private keys, not you. In the event that the exchange site gets hacked, all your coins and investment will be gone. It is common practice to put your coins in a wallet and only keep it in the exchanges the amount you will use for trading. You can definitely do that. You can join Facebook Ethereum Groups based in the Philippines and negotiate before meeting in person.
Of course, you have to be wary of those kinds of transactions. Make sure you have vetted the person you are transacting to before giving money to them. Above are the steps to buy Ethereum currently in the Philippines. While definitely not as convenient as bitcoin, Ethereum is a really popular cryptocurrency that we should get interested to. Good morning sir, i have successfully transferred bitcoin from coins.
If you bought ethereum, you cannot send it back to Coins. But if you have began buying bitcoin straight on bittrex, you can send those coins back to your coins. Also, you might want to wait as Abra will launch their Ether wallet very soon so no need to convert back to btc and transfer back to Coinsph. This is really Helpful. I want to focus on ether as well. They do have some minimum amount though. The alternative for coins, abra, etc are exchanges, like bittrex, quoinex, and so on.
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