There’s a new Bitcoin buy and sell service in the Philippines — Bitcoinsmeetup.com.
For those who are into cryptocurrency, there’s a new option available aside from Coins.ph and Abra. Unlike the two which focus solely on online transactions, Bitcoins Meetup can transact with customers personally.
Bitcoins Meetup’s pricing is just 3% above the market rate, which makes it relatively affordable compared to its competitors.
The process goes like this:
- Call, text, or chat with the staff to give your preferred time, date, and the amount of Bitcoins
- *Request for a field operator to guide you in depositing payment in the bank. / Visit any of their offices located throughout the Philippines for a “kaliwaan” transaction.
- The final Bitcoin price will be determined at the moment of the transaction. Once the peso payment has been made, the Bitcoins will be sent immediately after.
*A Php150 service fee is charged for every visit. Direct transactions in the offices are free.
Since the service is new, payment options are still limited at the time of writing. Bank payments are accepted via BDO (Over the counter and online transfer), while Remittance center are currently available in LBC and Palawan Express only.
Those who have Bitcoins can also sell it to Bitcoins Meetup at 3% lower than the current market rate at the moment of transaction. The seller can decide which bank he/she wants to be paid. However, if the transaction is less than Php10,000, the only option is BDO.
The new service is definitely in its early stages, but we expect it to improve to further to compete with the likes of Coins and Abra.
Source: Bitcoins Meetup (Facebook)