If you’ve read the first part of this episodic informative article series, then you should be introduced to bitcoin already. You should already have a bitcoin wallet, know your bitcoin address and you should have an active presence in the community. So you’ve gotten yourself some bitcoin, now what are you going to do with it? You’re not exactly going to twiddle your thumbs again until something happens right? Just think of it, your first purchase. What could it be? That nice handbag or that new video game you’ve been saving up for all year? Isn’t it exciting? Well, what if you could pay for it – with bitcoin?
THE EASY WAY OUT – DIRECT BITCOIN TRANSACTIONS
So you already got yourself money by being on your computer all day long? Well, why not make it even more 21st century by spending that money being on your computer all day long? There are already many Philippine services you can spend your money on, from CashCashPinoy and MetroDeal we’ve already mentioned so many times and through going to the local community groups to see if you can come to a deal. Certain merchants accept bitcoin on OLX and other peer-to-peer merchant sites, so why not?
Bitcoin transfers are quicker and more secure, but they can be fraudulent, so before buying anything, ensure that the merchant you’re buying from has a good reputation and has good and positive feedback from previous customers. If the item you want can be found online and are purchasable with bitcoin as a payment method, you’re in luck.
THE HARD WAY THROUGH – GIFT CARDS AND OTHER SERVICES
If you ever had the misfortune of having to deal with a site that has what you want but doesn’t accept bitcoin as a payment method, it may be a bit tricky. If you want something on Amazon or eBay, a gift card might do the trick. The best place to get gift cards are on Gyft, which is for US users only, so you may want to chat up a friend or a community member who can get that for you, try other sites.
PayPal can be a handy, as PayPal isn’t exactly confident and comfortable with bitcoin around the place, and they’re pretty open about it. If you really positively have to use PayPal, you can try having it traded through a merchant or follow the next part of the guide.
THE REMITTING METHOD – BITCOIN REMITTANCES
For those of you whose fathers, mothers and relatives are Overseas Filipino Workers or OFWs, you may already be familiar with remittances. This is money sent by a worker abroad to his or her family, and while you’re not exactly the target audience, it’s still pretty great and reliable. Rebit.ph and Coins.ph allow you to send bitcoin and pick it up at their HQ for free or at your local LBC, Cebuana Lhuillier and so on for a little fee. You can even have it sent to your savings account.
Through this, you can get your money as Philippine Peso and even send it to a loved one if you need to. Just like that, and you can spend your “bitcoins” just like regular money now.
Sure, we may not have fancy bitcoin ATMs all around the place (though if you live in the Makati area you may be in luck) or currency exchanges just next door, but we’re getting there. I hope that this guide has helped you in your future endeavors with bitcoin. It’s a tough world out there. And that’s it, The Filipino Kickstarter for Using Bitcoin. We’ve covered how to get started and what to do once you’re all set, and now it’s your turn. How will you kick your career further to the goal?