Why Is Crypto Currency not Popular in the Philippines?

[Heroshema 0]

Maybe they allow crypto .. or tge phillips people have an enough information and ideas about crypto and how much its safe 

 

[Amr Ahmed 3]

i think most people in  Philippine don't know Crypto Currency because they don't understand the true ways to earn free bitcoin or crypto currency

[cryptowinner21 267]

hi all! This situation at Philipine is because of their law and people mentality! But this can change in a short time, because cryptocurrencies will be use by many person in futur!

[Mcd0d0 5882]

i think the reason why cryptocurrency not popular. to the philippines is the btc value? and i dont think that btc or cryptocurrency will run to philippines in future because it will be race between Philippine peso and btc value..

[Amirul Islam 382]

On 1/13/2020 at 10:47 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.

Philiphine is a poor country. Government think that if they regulate the crypto then their economy can be in risk. 

[tung12345 30]

The central bank adopted a formal regulatory approach to cryptocurrency through the issuance of Circular No. 944 back in 2017. It requires businesses engaged in the exchange of cryptocurrencies for fiat money in the Philippines to register with the central bank as remittance and transfer companies.

[Ruschdine 3]

On 1/13/2020 at 6:47 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 don't think people understand..they are ignorant.If u don't know anything about about crypto they automatically decide it's a hoax.

[Ms.o 3322]

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.

It's only because many people in the philippines doesn't have knowledge about it,and many uses cryptocurrencies to scam people. If only there are someone who will educate them,it will be easy for them to understand it.

[Ruschdine 3]

Hey I am from South Africa.I don't know anyone who is even Interested in bitcoin people don't even know about it.When I try to explain to them trying to refer them or something they don't want to.They don't even like using data...meaning I struggle to refer people for anything.

[Sohel Rana Sazzad 453]

I think the Philippine crypto currency is what Ilegal thinks.  I think they do not have enough idea about crypto currency so crypto is not prevalent in their country but hopefully their country will use crypto soon.

[gigabyteRTX 1583]

4 hours ago, Sumaiya said:

In Philippines cryptotalk doesn't legalised. There country people doesn't work in crypto. I think for this reason in Philippines crypto currency doesn't popular. 

That's not true my friend, I'm from Philippines and I can say that cryptocurrency is popular in my country but for most of the young age only because the teenager here explore more and find ways to ear and more of them find using or working in crypto very useful to them, including me of course.

[Armcannon 858]

I don't think cryptocurrency  is not popular yet in Philippines because I'm a member of Bitcoin earning groups in Philippines and lots of people are looking and referring ways to earn free bitcoins.and some sites to invest bitcoins.

[ShakilA 373]

I think the Cryptocurrency users of Philippines is not more.They have not like to work in Cryptocurrency.Or their has not scope to use Cryptocurrency

[Suhannewaz 245]

Notwithstanding the downward trend in the virtual currencies last year, crypto-currency exchanges were growing in the Philippines as a result of increasing public demand and regulatory leniency.

[samislam 403]

it depends on the country and the people.some country have no permission of crypto currency and some don't use still on regular basis.so in Philippine you can check the government rules and regular use of crypto.but it will increase i hope

[Sapdrx 469]

oK the succes depends basically on 3 things:

1. motivation (do people feel the need of crypto, does it fill a gap)
2. accesibilty, is it easy to get crypto in the Philipines
3. trigger, what are the triggers for people to start with crypto in the philipines (maybe the financial sector collapse, loss of purchasing power etc)

 

[Whydoyoucare 1094]

I think because philippines is not yet ready to accept crypto because, they think that it will affect the country so badly. so this is just only my opinion. if there is someone pinoy here, dont get mad at me.

[Ummita 303]

Maybe lack of interest or lack of knowledge of how using cryptocurrency can ease their life in one way or the other. Or just as others have said maybe due to law restrictions.

[Beeba 240]

There are several reason for this

No.1 Government restriction

No.2 awarness

No.3 Not use at below level as medium of exchange

The above and more reason which is the casued of crypto not familier in Philipians.

[Jyz2009 105]

This because Philippines are not into investments. Filipinos will always think about the basic needs of their family rather than thinking about investing in something especially new to them. Its better if there are some institutions that will provide a guidelines about it, teach them how. Only some Filipinos are into bitcoins, most of them are risk taker.

[Great Commander 659]

The government have no idea what cryptocurrencies is and has no capability to directly orient the public due to major problems must be solve first. 

[Nurul Huda 944]

On 1/16/2020 at 12:46 AM, Louckik said:

many of countries are there where crypto currency is not popular. isn't tha laws of there county. it's high time now more of tha county should accept crypto currency. 

There are so many countries all over the world but where crypto currencies are not popular because the level of quality and support is very minimal, therefore I hope to better support crypto currencies so everyone knows and knows about crypto currencies so that it's time for many countries to accept currencies crypto.

[Agios 1763]

Yeah, in many countries Bitcoin is more famous than cryptocurrencies, as far as I know in the Philippines there are many places to buy and sell bitcoin, also bitcoin can be used to pay for bills, buy prepaid costs and send money. So Bitcoin and cryptocracy are recognized and allowed by the government.

[TasinHasan 421]

i think people afraid to talk about bitcoin because of the law of the country.

I don't know about crypto accept on Philippines or not but people afraid for hard law

[Kenan mehoub 540]

Because some governments prohibit trading in cryptocurrencies, especially bitcoin, as they consider it unsafe and can harm the economy