E-shopping made safer with Bitcoin

E-commerce has created a second world – one that is more convenient and more secure. But why do many people still remain skeptical about purchasing items online? Although security in the World Wide Web is said to be getting safer by the day, converting pessimists could be a lifelong process for e- commerce businesses. This is true especially in a country like the Philippines where only five percent in the country have credit card access.

Bitcoin is digitized money. It allows people to buy, sell, and transfer money to other entities such as a person, an organization, an e-commerce merchant, and the like. Therefore, its function is parallel to any form of currency. The value can either go up or down depending on the Bitcoin community’s performance, which can be similarly seen in the stock market.

With this method, payment transfers and reception is guaranteed to be full; a 100 Bitcoins sent means 100 Bitcoins received by the recipient.

With the online payment solution called Dragonpay, anyone can convert their cash to Bitcoins. Taking note that the Filipino population is mostly comprised of non- credit card citizens, Dragonpay can be their tunnel to the realm of Bitcoins. Just log in to one of the popular local Bitcoin exchanges; click pay with Dragonpay, and pay over-the-counter with their partner banks and non-bank establishments.

Bitcoin is a fairly new business venture in the country, which are mainly led by three companies; namely, Coins.ph, Buybitcoin.ph, and Satoshi Citadel Industries, which recently acquired Buybitcoin.ph –a strategic move to further enhance its services.

For Coins.ph, the focus is bringing down costs for OFWs to remit, while providing a service to instantly send money to any mobile number or email address. They also make it convenient to receive money transfers, with a cash pickup network covering pawnshops, banks, and door-to-door delivery all over the Philippines. Their wallet app enables users to quickly pay bills and buy mobile load.

Satoshi Citadel Industries, integrates Bitcoin to daily and occasion-based affairs to make the new currency more relatable to both adults and the youth. Differences in approach have made both Coins. ph and Buybitcoin. ph recognizable as individual corporate entities but the common denominator in their business success is Dragonpay.