Why Is Crypto Currency not Popular in the Philippines?

[Philip1 220]

Hello my dear friend I want to tell you that that is not too much popular in the Philippine and wanting more I want to tell you there because the price of the cryptocurrency is more flexible than no many person are interested to invest in the cryptocurrency

[Ali iskandr 600]

This is because of the strict penalties imposed by the state on the people if they deal with cryptocurrencies, so they are banned in the Philippines and there is no statement about the reasons for preventing them.

[tanbir132 41]

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 cryptocurrency in any way. Cryptocurrency does not have its own ownership in their country. So they don't want to deal with cryptocurrency.

[Hamza Ahmad 510]

This is not just happening in the Philippines, There are many countries that do not believe in cryptocurrencies, but believe in physical fiat currencies, in the future when big countries take it as a real currency to trade between people, this will affect the rest of the countries and give them an incentive to use it and start trading it as a.

[Ashrafi62 489]

It is true that this cryptocurrency is not yet known in philippins.  Because this crypto platform is the best but not yet known in all countries.  But this forum is very profitable.  So in the future this forum will become famous very soon.

[Miraa 654]

In my country there are many people who have similar reactions like what the OP said about bitcoin, this could be because bitcoin has not been legalized so we are limited in promoting bitcoin. Perhaps the same thing happened in the Philippines. 

 

[MoradSaQr 756]

Maybe the state has banned it and hasn't allowed trading in cryptocurrencies yet, or people might not trust it and think it's a hoax. I don't know much about the Philippines, but these reasons seem correct

Edited April 28, 2021 by MoradSaQr

[AlBashek249 901]

This may happen due to a lack of knowledge about cryptocurrencies. We must present a clear picture of digital currencies, because it is a wonderful and distinctive field

[Moshi khan 459 347]

Technology has not reached them well well and they see this kind of divorce they need gurntees but there is no guarantee alot of risk and promise might stay۔۔۔

[Oday22 253]

Many countries impose sanctions on people who deal in cryptocurrencies, so the residents of these countries are afraid to talk about it, and I expect the Philippines to be one of these countries.

[Candy buttler 3]

My dear friend 

Exactly they are afraid to buy crypto currency 

Major reason is the most of persons there are poor 

They are afraid because crypto currency has so much variation in its prices 

No one can judge their future price 

So it is risk to invest in crypto currency also 

'So they are afraid to lose their money

[aliahmadali5854 92]

The popularity of cryptocurrencies in a country depends on the culture of that country first, as well as the way the people of this country think and the extent to which its members are convinced of the idea of using the cryptocurrency instead of the real currency, as well as some countries in which governments see that the use of the cryptocurrency will harm their economy, so they put laws prohibiting Dealing with cryptocurrencies

[Ghiyas 199]

 

 

I think that there is a real reason, but I do not know whether it is because of the government or because of a lack of knowledge of these currencies

 

 

[lala33 2]

Hello my dear brother
I think the weakness of the territorial revolution in the weak country, such as the Arab country, does not deal with the electronic currency

[Mohmad22 695]

My dear friend, I believe that the Philippines' lack of interest in the encrypted currency and is not popular because of the system followed by this country and the measures taken by the rights of its citizens not to work in this currency under penalty of punishment can affect its economy

[Mohammed626 342]

Dear Friend The general culture about cryptocurrencies is not complete in some countries in a way that can be dealt with. I think that this is due to the fear of these countries that these currencies will gain popularity that will overwhelm the local currency due to the characteristics of cryptocurrencies. And I hope in the future that there will be an adoption of the concept of digital currencies in general in all parts of the world and to look at their advantages away from their disadvantages.

[dlal88 725]

My friend, encrypted currencies are not very popular in the Philippines and several countries as well. The reason may be due to several reasons, the most important of which is first because of the safety and confidence they give to paper currencies more than encrypted currencies. Second, the Bitcoin currency is unknown and reliable by these countries and trading in it is dangerous third, perhaps laws These strict countries are facing encrypted currencies

[Katadaabed 0]

أعتقد ربما بسبب نقص المعرفة حول هذا الموضوع ، أو ربما ، الأفكار الخاطئة عنه ، أو ربما بعض القوانين في بلدك ، لكني أعتقد أن السبب هو نقص المعرفة. كل مجهول خطر وهذا يقلل من شعبيته لقلة التعمق ..

Edited April 28, 2021 by Katadaabed
أخطاء املائية

[Shady85 132]

My dear friend, unfortunately, there are many countries that do not deal with these cryptocurrencies and are legally prohibited for economic reasons, but I think that very soon they will be adopted by many countries and I hope that your country will be among them.

[Hallaasaad 5]

Not only in the Philippines, wherever it is difficult for some to deal with cryptocurrency because they have no previous experiences or real experiences that reinforce this idea for them and because people like real and fast tangible money that pays directly for work, what we have to help them to believe and believe in the hypothetical currency

[Deviler546 386]

That is one of the sources of problems for the Philippines who do not know about crypto, even though the crypto world is very good and profitable if they find out, I am sure it will always be used as a transaction tool.

[Lana9992 234]

I think that it is up to people themselves to accept the existence of cryptocurrencies in their culture, because most people do not like to try new methods, knowing that cryptocurrencies can be useful to them.

[Ali_Yaseen 252]

Not only in the Philippines, there are many countries that do not pay any attention to cryptocurrencies, and often these countries are poor countries, and their traders are not willing to engage in something new such as cryptocurrencies.

[Deviler546 386]

That is one of the sources of problems for the Philippines who do not know about crypto, even though the crypto world is very good and profitable if they find out, I am sure it will always be used as a transaction tool.

[Harry jhon 246]

because lots of people don't have eanough time and money to invest in cryptos and who has both of these thay are interested in cryptos and using it to make money.