This Bitcoin Wallet is for Those Without Secure Banking
Alyson Wyers — October 28, 2014 — Business
References: coins.ph & springwise
The leading Bitcoin wallet in the Philippines is also the first for emerging markets. The cryptocurrency is not subject to exchange rates, making it very easy to transcend state borders. In an effort to bring Bitcoin to nations without secure banking systems in place, coins.ph allows users to buy and sell Bitcoin.
The coins.ph app also lets them store the cryptocurrency in a digital wallet and monitor the market. The mobile nature of the currency allows it to easily be transferred between family members. Due to a lack of regulation and restrictions og Bitcoin, the Android Bitcoin wallet app has an option where recipients can pick up transfers as cash or deposit funds in their bank account in their preferred currency. Smart, Globe or Sun phones can also be topped up.
The coins.ph app also lets them store the cryptocurrency in a digital wallet and monitor the market. The mobile nature of the currency allows it to easily be transferred between family members. Due to a lack of regulation and restrictions og Bitcoin, the Android Bitcoin wallet app has an option where recipients can pick up transfers as cash or deposit funds in their bank account in their preferred currency. Smart, Globe or Sun phones can also be topped up.
Trend Themes
1. Emerging-market Cryptocurrency Adoption - Cryptocurrency apps are becoming more popular in emerging markets, providing a disruptive innovation opportunity for companies to tap into these markets and make digital currencies more accessible.
2. Decentralized Finance (defi) Expansion - The lack of secure banking systems in emerging markets creates an opportunity for decentralized finance (DeFi) to expand and provide financial services to those who are unbanked or underbanked.
3. Mobile Bitcoin Transactions - With the rise in mobile phone usage in emerging markets, there is an opportunity for companies to develop mobile Bitcoin transaction services, making it easier for people to send and receive payments without a bank account.
Industry Implications
1. Mobile Payments - Mobile payments companies can capitalize on the rise in mobile phone usage in emerging markets to provide Bitcoin transaction services, making it easier for people to send and receive payments without a bank account.
2. Cryptocurrency Exchange - Cryptocurrency exchange platforms can expand their services to emerging markets, providing a gateway for people to buy and sell Bitcoin even if they live in countries with unstable currencies or weak banking systems.
3. Blockchain-based Financial Services - Blockchain-based financial services platforms can leverage the lack of secure banking systems in emerging markets to provide an alternative financial system that is more accessible, affordable and secure than traditional banking systems.
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