Cryptocurrency in the Philippines

Cryptocurrency is the future of payments. I think we should embrace it this early so we'd improve out payment system.

What is cryptocurrency?

Cryptocurrency comes from two words: crypto and currency. Crypto for cryptography - the art of writing or solving codes. More commonly Wikipedia defined it as:

refers almost exclusively to encryption, which is the process of converting ordinary information into unintelligible text.

Currency on the other hand
refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. Philippine peso (PHP), British pound (GBP), Japanese yen (JPY) are called flat monies. And here are some famous cryptocurrencies:

Some famous cryptocurrency

Bitcoin (BTC)

The most famous and successful cryptocurrency. The price of Bitcoin at the time of writing is $11,127.60. It's so famous that cryptocurrency and Bitcoin is sometimes used interchangeably.

It founded by Satoshi Nakamoto in 2008.

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. - Wikipedia

Ethereum (ETH)

The main competitor to Bitcoin. It exchanges for $872.65

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. It supports a modified version of Nakamoto consensus via transaction based state transitions. - Wikipedia

Litecoin (LTC)



Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.Wikipedia

Today 1 litecoin can be bought for $208.11. It is originally authored by Charlie Lee and is written in C++.

Ripple (XRP)

Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network created by the Ripple company. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol it is built upon a distributed open source internet protocol, consensus ledger and native cryptocurrency abbreviated as XRP (ripples). Wikipedia

A ripple can be bought for $0.915827. It is originally authored byArthur Britto, David Schwartz amd Ryan Fugger in 2012. You may check their GitHub repository here.

Nem (XEM)



NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. Written in Java, with a C++ version in the works, New has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. Wikipedia

Nem developers are pseudonymous. Nem was started by a Bitcoin Talk forum user called UtopianFuture who was inspired by Nxt. (another cryptocurrency).The initial plan for NEM was to create a fork of NXT, but this was eventually dismissed in favor of a completely new codebase. A nem coin can be bought for $0.412137

How do I get bitcoins?

You can buy bitcoins on coins.ph. It is the most convenient means of payment out there. You can virtually do anything with your money. From buying load to paying bills. You can do both without leaving your house. How brilliant is that?

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