Paper wallets are slips or sheets of paper which contains a Bitcoin Private Key and/or a QR code for cold BTC Storage. Right now, the popularity of paper wallets is slowly increasing, as the market for tangible or so people say, “Physical Bitcoins” increases. There are a few paper wallet suppliers available for collectors, and some also cater to the wider range of masses in places including the Philippines.
PrepaidBitcoin.ph, a running paper wallet service here in the Philippines offers a range of top-up style Bitcoin load cards the Filipino masses are already accustomed with, from topping up our cellphones load balance. Currently, you can purchase your Bitcoin Prepaid Cards in 3 places: in the BitMarket.ph Office, at the Yardstick Coffee Shop, and at BaiCapture Offices all in Makati, Philippines. As Bitcoin awareness spreads throughout the Philippines, so will the demand for Bitcoins. Filipinos are used to frequently visiting convenience stores and small stalls to purchase mobile credit top-up cards, quite similar to that of “Prepaid Bitcoin” paper wallets.
Although right now there are very limited locations to buy these prepaid cards, they offer a reseller program which both offers a business opportunity for people here in the Philippines, but also allows people to set up more locations to buy the PrepaidBitcoin cards.
Using PrepaidBitcoin.ph’s cards are as easy as buy, scratch and enter! After purchasing and scratching open the code, you can easily navigate to http://www.prepaidbitcoin.ph and enter your card number and wallet address, and now you have some Bitcoins. This process is a lot easier than going over to the bank, depositing to an exchange’s account, find and/or wait for the right price and buy, which would probably take 12 hours at least. With these prepaidbitcoin.ph cards, although with a few fees, can take at most a few hours, or even less, as Smart Communication Philippines’s e-pin shop Gamex also offers PrepaidBitcoin.ph e-pins, where you can buy using Sun Cellular and/or Smart Comms. mobile credit.
The convenience brought to the masses by these prepaid Bitcoin cards may be the key to further mass adoption, especially to developing countries as the Philippines since a big number of citizens are un-banked, and some don’t have the luxury of time to be undergoing the whole Bitcoin exchange process, or prefer an automatic trustless exchange unlike peer to peer exchange or peer to peer services like LocalBitcoins.
Other more notable paper-wallets are PaperSafe’s Satoshi Notes, or BitStake Nigeria’s prepaid Bitcoin cards, just like PrepaidBitcoin.ph
Right now, Bitcoin may just be slowly spreading to the masses, in many developing countries like the Philippines, India or Africa. These prepaid Bitcoin Cards, or paper-wallets, may just be the key for widespread awareness.