- Bitcoin Investment Simulator
- Get them through Bitcoin Mining
- What Is Bitcoin?
- Get them by exchanging your money into bitcoin
- The Regulatory Environment
- STEPS HOW TO INVEST BITCOIN IN THE PHILIPPINES?
- BITCOIN TRADING FOR BEGINNERS - Cryptocurrency Exchange w/ PDAX - Philippines
- Bitcoin Hodl Calculator
- IMPORTANT NOTE:
- The State of Bitcoin in the Philippines
Bitcoin Investment Simulator
Since I posted my unbiased opinion about bitcoin last month, I received tons of inquiries in private message asking me HOW TO INVEST IN BITCOIN.
Actually aside from stock market & currency market (Forex), I also add cryptocurrency market especially bitcoin as one part of my asset allocation not long enough, I started trading bitcoin thru CFD offered by my forex broker since middle of 2017.
This kind of participation is not actually owning a bitcoin but only trading an instrument that is mirrored its market performance.
If you really want acquire real bitcoin.
Here are 2 ways how to acquire them.
Get them through Bitcoin Mining
Expert says that bitcoin is the modern gold. Since Gold is a precious metal and you can only get it by literally mining it in a very deep ground. The same way with bitcoin, you can get it by mining it in the vast world wide web. Mining gold underground requires special skills and expensive mining equipment to do it.
What Is Bitcoin?
Also it will cost you big amount of money. The same way with mining bitcoin, it requires an advance computer networking skills, understanding computer life cycle and expensive computer mining equipment. If you choose this option to acquire bitcoin, you must study and research all the details about it.
There are lots of helpful articles out there.
Get them by exchanging your money into bitcoin
Bitcoin itself is just a simple coin with unidentified value if you will not compare it to other valuable pair. Good thing, over the years, people get the value of bitcoin by comparing it to US Dollar. Since it was launched 2009 1 bitcoin is equal to $0.0003. That time it was an unforeseen piece of nothing.
The Regulatory Environment
After more or less 10 year, the value of 1 bitcoin compare to dollar, it is always at all-time-high of $14,000 (as of this writing). In fact, if you bought $5 worth of bitcoin last 2010, you are now 393 Million dollar richer.
Among the 2 options how to acquire bitcoin, I would recommend the second option because that is the easiest and simplest way to participate.
But the question is, How to do it?
In order to do that, you must have what they called a BITCOIN WALLET.
This wallet is your personal virtual wallet where you can store all your bitcoins. When a friend wanted to give bitcoin to you, just give your bitcoin wallet address.
Whether these bitcoins are from your mining activity or from your money exchange, having a wallet is your first step.
STEPS HOW TO INVEST BITCOIN IN THE PHILIPPINES?
- Create a Bitcoin Wallet – the only and most popular online payment system that supports bitcoin in the Philippines is the COINS.PH.
It’s an online wallet that is capable of many online transactions and has a feature of converting your peso money into bitcoin based on the world market exchange rate.
BITCOIN TRADING FOR BEGINNERS - Cryptocurrency Exchange w/ PDAX - Philippines
- Step 1 : Visit Coins.ph and create your virtual wallet
- Step 2 : Follow the Coins.ph process how to verify your account with them
- Step 3 : Once you are verified account in Coins.ph, you can now deposit funds to your virtual wallet thru any available options to transfer fund. In my case, I transfer fund from my UNIONBANK online banking to coinsph.
- In the screenshot example below, it was my wife’s new coinsph wallet.
Bitcoin Hodl Calculator
She deposited 102 pesos from her unionbank online account to her coinsph wallet (really funny small..haha). As a start, she give it a try.
- After the fund reflected to her coinsph wallet, she converted the 102 pesos to bitcoin. During that conversion, the exchange rate was 1btc=$12,000.
- That’s it, as simple as that.
Next thing you do is to wait and wait until your peso investment will grow since the bitcoin exchange rate is fluctuating. Once you are satisfied on the growth, you can now exchange back your bitcoins to pesos to realize the interest growth.
As of this writing, the exchange rate of bitcoin is at all-time-high to $14,000 per 1 bitcoin.
In the picture below, my wife’s 102 pesos worth of bitcoin is now at a whopping 127 pesos or more or less 25% growth within the week.
I know its quite small amount, from 102 to 127 pesos only. The point is just to share with you the easiest way how to directly invest in bitcoin in the Philippines.
The example shows a small return in value because the amount started is very small, but when you start at a higher capital, of course you’ll get a good satisfying return. So I will leave you here and whenever you are ready to give it a try this kind of asset option, please read the important note below.
Please note that every investment or journey that gives reward is tied with risk.
We cannot get rid of it. And this investment vehicle is consider and belong to a superdupervery risky investment because it is in introductory or infancy period where people are so optimistic and hyped up and they want to own bitcoin and willing to buy at any price, that is why the price zoomed up is short time.
My suggestion is please starts with money that you are willing to lose.
The State of Bitcoin in the Philippines
Because for me nobody knows where this will be heading, either it will zoom up to another level of high value or drop back to lower value. At least, if we have it then we gain some or we lose some. The worst if we left behind.
Filed Under: Bitcoin, Cryptocurrency