Buying Bitcoins in the Philippines: Why Investing In Bitcoin Is The Best Thing You Can Do TODAY

A few weeks ago, I blogged about how Bitcoin has reached its all-time high of P380,000/BTC, or roughly around $7,600. As I write this blog, Bitcoin has reached its new ALL TIME HIGH at around $17,000 over at cex.io, and over P850,000 at Coins.ph.

So why is buying BTC still the best thing you can do now?

Think of it like planting a tree. The next best time to plant a tree is NOW. Pick up your seed and plant it in TODAY so you can reap the fruits tomorrow.

If you've been reading my old blog posts, you probably noticed that I held 0.43BTC in July 2016, which was around P13,000 at that time. Yes, the exchange rate back then was 1BTC = P30,000. I cashed out also that month because it was the most practical thing to do while playing Bitcoin slots - cash out whenever you have already reached more than what you put in.

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!

Free Bitcoins - Where To Get Free Bitcoins and Free Satoshi

"Where do you get Bitcoins?"

This is the most common question that most people ask.

While the easiest way to get bitcoins is actually either to 1.) MINE or 2.) BUY Bitcoins with real money through online websites, such as Coins.PH (and pay via 7-11, G-Cash, BDO or BPI), there are actually several ways to earn Bitcoins without having to shell out money.

Bitcoin Mining - not free

The oldest way of getting a bitcoin is by mining. Bitcoin mining is done by computers, running at its full capacity for 24 hours a day, 7 days a week. Mind you, these machines get very hot - and expensive.

Of course, when setting up a computer specifically made for mining, you have to consider the cost of the computer, the cost of the software, the electricity needed, the cooling system, its maintenance, etc. In addition, it's not really that easy to mine Bitcoins. A $599-dollar ASIC Bitcoin miner can only get you around .40BTC per month.

Here's a short video about Bitcoin mining to help you get the basics of this money-making scheme.

Virtual Bitcoin Mining - free for some, optional paid features
At the bottom part of the infographic shown above, there's this thing called Bitcoin cloud mining. It's pretty much like Bitcoin mining, but without having to maintain and buy hardware since everything is done in the cloud.

Think of it as somebody else maintaining your facility for you, and you're just paying for the services.

One of my favorite virtual bitcoin mining websites is MinerFarm.com. Signing up is for free, and you just have to visit once a day to keep your account active.

Bitcoin Faucets
There are many Bitcoin faucets, but there are only a handful that are reliable.

Bitcoin faucets are websites that give out Satoshis, which is pretty much the smallest possible amount of Bitcoin. Most would require you to have 100,000 Satoshi, or around .001 BTC before you can cash out the same.

Most faucets give out anywhere from 50 Satoshis to around 5,000 Satoshis.

Currently, I have FOUR favorite Bitcoin faucets:

1. PocketDice - You get 1000 Satoshi every 60 minutes, which you can use to wager. It's a very fair game, and once you get the hang of it, you can easily bet and multiply your BTCs in no time.
2. HenBitCoin - You collect an egg every 6 minutes, and you need to take the eggs out of the nest once it reaches three. Keep your eggs at 30 pcs and sell them off by 30s to get the most out of the price! Actually, it costs more if you sell them one by one :)
3. ClaimBTC -  A no fuss Bitcoin faucet. Wait for about 20 minutes before claiming :) If followed religiously, you can get up to 8,500 Satoshis for 24 hours.
4. HitPIXL - This is a really fun Satoshi faucet since you get to see Mario jumping up and down. Various bonuses are also given away. 65 Satoshis given every few minutes, so always keep clicking.

How about you? What is your favorite method of getting Bitcoins?

Bitcoin Philippines - How I Made P13,000 (0.43Bitcoin) in One Night

I was once an avid fan of Sweepo, an online sweepstakes website that gives out real money through Bitcoins. I signed up for the Autoplay, which costs around 220 pesos per month and automatically enters you to sweepstakes. In a month of playing, I was able to win at least twice. Each win was around 200 pesos, so I actually doubled my money already.

There were times when I was winning Bitcoins for 3 or 4 times a month. And that is how I was able to accumulate around 2,000 pesos worth of Bitcoins, which I exchanged through my BTC wallet Coins.ph in April.

You can see that I was getting BTC around 3x per month. That is crazy!!

Exchanging in April was actually a bad move, since Bitcoin back then only cost roughly around $500. Today, it's around $650! My 2,000 pesos could have cost around 3,000 pesos if only I waited!

Bitcoin Wallet - Where to Store Bitcoin in the Philippines?

Choosing the right bitcoin wallet in the Philippines is a bit hard, particularly because there are not many providers that are targeted towards the Bitcoin users in the country. However, there is one Bitcoin wallet that I personally love using, particularly because there are many ways to put money in your wallet.

I bring you COINS.PH :D

Coins.ph is the ONLY coin wallet in the Philippines that lets you add money through the following channels:

• 7-11 - Instant credit
• BDO Bank deposit - within 24 hours
• Globe G-Cash - Instant Credit
• M Lhuiller E-Pay
• Online Bank Transfer - Security Bank Online, Unionbank, etc.
• Cash Deposit - BDO, Security Bank, etc.
• Remittance Center - M Lhuiller E Pay
• Department Stores - SM Bills, Robinsons
• ATMs

With these, you can easily add funds in yout Bitcoin wallet and use it to pay bills, transfer money to others, and many more.

Heck, you can even use it to play your luck in Bitcoin casinos and MULTIPLY your Bitcoins exponentially. Learn how I did it soon in my following post - where I won over P13,000 pesos (yes!!) in Bitcoin :) And that's with the 25 free spins!!

How to Get Bitcoins in the Philippines

The term "bitcoin" is not so popular in the Philippines, but over the years, it is gaining both popularity and notoriety. There are many concerns about its validity, veracity, and even its source. Some people may think that Bitcoin is a scam but it's not; in fact, it's just similar to a commodity being bought and sold, depending on the price in the market. Think of it as a 'virtual item' that may be sold and bought.

With the advent of local payment gateways accepting Bitcoins, such as Coins.ph, more and more Filipinos are seeing Bitcoins as a great alternative to using banks and credit cards in online transactions. In addition, because of the number of Internet users in the Philippines, it is not entirely surprising that Filipinos are now jumping into 'investing' and 'mining' bitcoins.

But the first thing that most people ask is this: how exactly do you get bitcoins? 

There are actually a few ways of getting bitcoins, but after the break, we'll be discussing some of the more popular ways to help you get started in getting your bitcoins.