Why Is Crypto Currency not Popular in the Philippines?

[HUMAIRA1 0]

 I think cryptographic money in the Philippines are simply not acknowledged by the administration, they don't generally think about digital currency that is the reason they think cryptographic money isn't famous in the Philippines. That is for me.

Are you residing in Philippines? Why not? I think it is the slower process to gain popularity in your country. I guess your government has not banned the crypto currencies in Philippines. Keep patience and hope goods for the future friend. 

[RJMALIK 230]

According to my opinion they have the strict laws against the cryptocurrency. Maybe the people of Philipine are not much aware about the cryptocurrency. If they find cryptocurrency usefull they will satart trading of cryptocurrency and it become possible in the future when the whole world had been trading with the cryptocurrency.

[Shehraz bhatti 1703]

I think they dont believe in digital currency and they love. Physcial currency or there is  many other reason  to no use of  this oppurtunity i think lack of knowledge  is also the reason they dont use the btc.

But i think  the givernment of that country does not allowed the digital currency becuaee many of the peoples are want to trade online and they need the currency  if the government can allow them to avaial this oppurtunity they peoples who want to join btc they can earn money. And they can trade also because there is many peoples are want to earn online also.

[Nicole018 4548]

There are many countries even developed countries that have not yet learnt the potential possibilities of the currencies and coins. This is such a huge back in the modern digital world. It's high time that all the countries and government start to accept and understand the value and importance of cryptocurrency in today's world. Hopefully some positive impact could be witnessed in the coming future.

[bhattiumair 250]

i am sure it will always be used as a transaction tool.. but my opinion is abot crypto cyrriencues because they do not understand how it work and they even believe it is scam this is reason.

[Mridul Rahman 1058]

Well there are some countries that doesn't allow cryptocurrency. Philippines is one of them. Those countries government doesn't allow crypto cause they think that crypto will affect in their economy. Well this is true though. But yeah my country is also one of them. Not much popular as other countries. Hoping for someday to be valid to use crypto along in our country.

[Captin 0]

In fact, there are countries where dealing in cryptocurrencies is prohibited, and there are countries where the forum is prohibited from working in them, and therefore these may be the reasons.

[Ummah97531 615]

Yes, basically! They don’t believe in digital currency and they love it. There are many more reasons not to use physical currency or this filth, lack of knowledge is also the reason why they do not use BTC.

Yes, basically! The government of this country does not approve of digital currency because many people want to trade online and if they need the currency the government wants to join their BTC so that they can get this unchanged opportunity in the way they can earn.

[Genshinemura 244]

Philippines is skeptical about cryptocurrencies are prone to be hacked thats why they are still using paper moneys and doesnt recommend using this

Now which is pandemic, physical contact is very scary now a days so maybe they'll try using one of these someday

[Smallingcane012 344]

The reason why crypto currency is not popular is how more people are join the platform but we should not worry our self it will start popular very soon.

[Sarahden111 1231]

In a global fashion, this matter is due to the promotion of this market, so advertising and promoting it is weak, and therefore the percentage of people reaching it is small But if the promotion is good and explains its benefits and the possibility of making a profit from it, then this will make people rush to invest in it in any region

[HighkeyDonut 445]

On 1/14/2020 at 12:47 AM, LexBee68 said:

A lot of people are afraid if we are talking about bitcoins or any other crypto currencies.  Why is it so? Especially in the Philippines, people are skeptical about it.

One of the reasons is because of the law. Philippines cannot really adapt cryptocurrency and apply it to the market. Yes, some can work out with cryptocurrency but not official, and must work or mine privately.

[Flademer awslow 620]

Perhaps in your country there are strict laws that prohibit dealing in this cryptocurrency, and this is not limited to your country, the Philippines only, but there are many countries in the world that have not recognized this currency and are afraid of it because it is intangible and does not need any paper transaction to deal with it, buy and sell

[Quickbee 26]

Cryptocurrency is banned in a few countries like Philippines. The reason maybe because Cryptocurrency is an intangible currency. They may not have understood or don't have confidence in the working of crypto currency.

[nanaaisha20 61]

 Crypto currencies are now popular in all parts of the world, this is due to the coronavirus pandemic and also the effect of the lockdown. Many people hit aware of crypto during the lockdown. It seems almost as if the lockdown was to get people into crypto.

[Aulla1997 424]

Perhaps now this does not agree with the regulations Or that this does not serve interests inside and outside the country, maybe too people just love paper money . Fact: I do not rule out that cryptocurrencies have found its way not only to the Philippines and to the rest of the countries that do not deal  With it because day after day it achieve success on all levels.

[Anas Manzoor 247]

Lack of information because Philippines don't know about cryptotalk and lack of interest in this platform In pakistan mostly people's don't know about bitcoin and many other firms and in Pakistan laws we don't use any crypto bitcoin on websites

[Roop 1108]

Not just phillipines there are so many countries where people are unaware of cryptocurrency. They may have no idea about its profit and introducing crypto takes lots of base.

[koynayak 1923]

Nice question. I think the world still can't get used to crypto's. I don't know about phillippines but let me give you an example, Nigeria is the country where crypto is using most, because they can't trust banks or governments so they see crypto as a investment. Every year crypto and bitcoin became more famous and i beileve in the near future every country will have to support crypto's.

[Anzaatta 379]

The crypto currency is not  popular in Philippines because they don't believe in the concept of bitcoins, its advantages and also about their characteristics. They fear of to be banned by philippines state. Or may be the lack of knowledge is also be the reason.

[Wanderdark 2178]

Cryptocurrencies are interestingly popular in lesser developed countries because the people living in such countries can't trust their governments and their financial system. Therefore they try to hold their savings in cryptocurrency. Think about that, cryptos are not regulated therefore they can in no way considered secure for the moment. But the financial and governmental instruments seem to be even less secure so they incline towards crypto. Strange indeed.

[decemberends 1881]

The possibility there are is the fact they aren't having much a trust in between the how the business works and the cryptocurrency itself basically trust issues that we cannot deny because they would rather to other business rather than this.

[betelihem 4766]

On 1/13/2020 at 7:47 PM, LexBee68 said:

A lot of people are afraid if we are talking about bitcoins or any other crypto currencies.  Why is it so? Especially in the Philippines, people are skeptical about it.

 I see so meany youtube videos on how to earn cryptocurrencys and cryptocurrency related videos from Philippines and i think they know more about crypto more than any other country's, and they also have coin.ph wallet that developed in Philippines.

Edited November 27, 2020 by betelihem

[Dani5 118]

Hi 

I am from Bangladesh, It likewise not well known in here, Crypto is new in our nation, yet it developing step by step. 

Possibly it likewise for Philippines. 

I simply shear my thought.

[Authority 630]

I don't know they don't think the bitcoin hypothesis with its recompense and characteristics they accept as true simply the definite thing, in adjunct to core banned by the Philippine royal.