Bitcoin Philippines - How To Invest in Bitcoins and Ether

Bitcoin has hit its all-time high at almost P380,000/BTC. If you bought roughly around .1 BTC worth of Bitcoins last year at around P4,000, you can easily sell it over at Coins.ph directly to your Bank Account or G-Cash at around P37,000 right now. Where can you get an investment like that?

In the month, there's a 69% increase in the price of Bitcoins. The price is so high now, that the .01BTC worth P300 pesos that I used to buy before now costs P3,700!!!

Most people are still clueless as to how to invest in Bitcoins, so here's an easy, step-by-step guide on how to invest in Bitcoins. You might want to refrain from buying now, but there are other cryptocurrencies available, like the Ether which has went up by 3000% since it was released. In a year, it went from around $10 to $300.

So without further ado, here's a short tutorial on how to invest with cryptocurrencies.

You can also grab free bitcoin over here at Casho - I think they're the ones behind Sweepo before!



1. Setup a Bitcoin Wallet or Ether Wallet
What do you look for in a wallet? For me, it's security and ease of use, including mobile apps. I personally like the Coins.ph because it's designed specifically for Filipinos, with cash-in and cash-in options ranging from G-Cash, to BPI/BDO and various local banks. You can even add money through pawnshops and through 7-11!

The downside of the Coins.ph account is that it doesn't support Ether. For that, I personally use either Cex.io or Coinbase.com. For Cex.io, you can easily use your credit card or debit card if you want to buy cryptocurrencies after some validation. For Coinbase.com, it's a nice Ether and Bitcoin wallet, but for Filipino residents, we still cannot use Coinbase to buy cryptocurrencies. Head over to Cex.io or Coins.ph if you want to buy Bitcoins.

2. Buy Bitcoin (or Buy Ether)

As stated earlier, both Coins.ph and Cex.io allow you to buy Bitcoin or Ether using a wide variety of options. Coins.ph lets you cash-in through 7-11, BDO, BPI, Unionbank, and even some pawnshops - instantly. Cex.io , on the other hand, conveniently uses credit cards or debit cards for purchases, making it easy for those who don't have on-hand money but still want to try the world of cryptocurrencies.


Cex.io PROS

• Allows the use of credit cards and debit cards
• Lets you buy ETH
• Can exchange ETH for BTC, and vice versa

Cex.io CONS

• Needs to validate your card before you can use it
• Minimum cash-out is .01BTC  or .01ETH

Coins.ph PROS

• Local company
• Can use G-Cash, local banks, and local pawnshops
• Fast customer service

Coins.ph CONS

• No ETH available
• The discrepancy between the BUYING and SELLING price of the Bitcoin is sometimes outrageous

3. Wait.

I cannot stress this enough - sometimes, you really have to wait.

Remember, in November 2016, .01 BTC was only P3,500. Now, it's at P37,000.
ETH in November 2016 was $10. Now, it's at $300.

But the question is, when are you ready to cash out? I would say when you really need it.

I need to whack myself for cashing out my .12BTC at P3,900. Who would've thought it would now cost P45,000 in just a year? I thought it was already high back then - but it seems that the Bitcoin will still continue to rise these coming years.



4. Engage in currency exchange

Cex.io allows you to buy ETH with your BTC, or BTC with your ETH. You can utilize price drops in each cryptocurrency and try to exchange currencies, thereby maximizing your investment.


5. Wait some more.

Again, see #3.

If I waited 2 years before cashing out .4BTC, I could easily have gotten P150,000 from an investment of P600 (.02 BTC, played over at my favorite bitcoin casino). Sometimes, it really pays off to WAIT. Just wait. Think of it as your time deposit.

Pray to the mining gods that the price continues to rise :D

6. Play in Bitcoin Casinos

Although it may be risky, mBitcoin Casino offers so many bonuses once you deposit your Bitcoins for you to play in various slot machines, poker tables, and even other card games.

TIP: If you love slot machines, find one that has the LOWEST possible coin value at .01mbtc. This makes you play more out of your Bitcoin, thereby increasing your chances of winning. That is, of course, you have .01BTC to play with. If you have .1BTC to play with, then by all means, bet all you want :D

My favorites are 2 Million B.C., Spin or Reels, and Charms & Clovers. The bonuses are definitely worth it!!!


7. Withdraw!

When you're comfortable about your investment (read: you got your capital back PLUS MORE!) then perhaps it's time to withdraw your Bitcoins.

Coins.ph has several cash-out options - for free. You can easily convert your BTC to PHP, then send them over to your BPI or BDO accounts, or any other banks. Or you can retain them and wait some more :P

However you choose to hold on to your Bitcoin, the key always is to make sure that you get back your capital so that your time is worth it.


Until the next post!