The rise of Bitcoin in the Philippines

AT THIS point, the Bitcoin revolution has reached all parts of the globe, inspiring millions to learn more about what cryptocurrency can do for them, and the bigger picture. While many still don’t know much about the specifics of cryptocurrency, they know enough to see that it could make a big difference in how people do things in the future. For all of their positives, Bitcoin and other cryptocurrencies are still looked at with fear by many countries in the world. So, why is the Philippines taking a different approach? Here’s the gist of it.

Why Bitcoin?

As most people out there already know, Bitcoin can be worth a lot of money. Its price varies through time, meaning, a particular amount of Bitcoin might not be worth much now, but in a couple of months, one could be looking at some astronomical sums. This is one of the main reasons Bitcoin trading has become such a popular way to invest. If one wants to learn more about this, he can visit this website about the bitcoin revolution.

The Philippines and Bitcoin

Cryptocurrencies and Bitcoin have recently been legalized in the Philippines and it shouldn’t come as a surprise. Giving fresh companies a new way to raise capital is one of the reasons for this. With cryptocurrencies regulated by the government, people will feel a lot safer when dealing with them, and easily grow more confident when using them.

The impact this could have on the overall economy of the country is potentially huge, sending it into a positive direction slowly but surely. Registered crypto exchanges are popping up left and right in the Philippines right now, so if there was ever a time to start using Bitcoin, it would be right now.

Pros of Bitcoin

There are a lot of pros to using cryptocurrency, and thankfully more and more people are starting to realize that. One of the biggest reasons for Bitcoin’s initial success was due to the anonymity it granted its users. Privacy can be a big deal to a lot of people, especially with online transactions. That is why Bitcoin became the number one favorite cryptocurrency to use.

While it might seem strange to some, this causes no problems when it comes to transparency. All Bitcoin transactions are listed publicly while still managing to uphold anonymity. This can be extremely helpful in tracking one's transaction history and preventing scams from happening. This coupled with the practically non-existent transaction fees and quick payment processing makes Bitcoin a favorite among people.

Cons of Bitcoin

Everything has its flaws, and the same goes for Bitcoin. A lot of people fear Bitcoin for the same reason many others love it—its volatility. As an unstable currency, Bitcoin’s price can vary quite often and one never knows what he's going to get. While this excites many— thanks to the potential price increases—it scares some that they’ll be left with too little if the price suddenly drops. (Sponsored Content)