Bitcoincash(BCH) vs. Philippine Peso (PHP)

We are about have comparison between the local currency  php and cryptocurrency Bitcoincash. What will be their advantages to each other, their uses and purposes.

What is PHP and BCH?

Php is the currency symbol for Philippine peso. The word peso is piso as the form of the 100cents or centimes in Filipino basically symbolizes as  ₱  while Bitcoincash is a cryptocurrency from the forked Bitcoincore(this is too common to us).

THEIR ADVANTAGES TO EACH OTHER

Advantages of PHP to BCH

PHP’S PRICE IS STABLE

Well obviously Php is fiat, that means its value is stable unlike Bitcoincash. We all know that Bitcoincash or other cryptocurrencies prices are volatile. That means their prices can be goes really low that can possibly owner of Bitcoincash lose its profit and the possibilities of gaining high profits if Bitcoincash price is pumped.

PHP CAN USE ANYWHERE

Bitcoincash has not yet spreaded most of the small countries like Philippines despite of being Social Media Capital of the world. So, people are relying to the local currency when it comes to making bank transactions, purchasing things, cheking in hotel and many more. All though Philippines has some popular E-wallet such as Gcash, Paymaya and Discartech, these wallets are only using Php for making transaction inside of it.Another thing is, Bitcoincash can’t be use for making small transaction in Philippine like paying for riding tricycle,  buying candies, baluts or fishball due to the fact that not all street vendors has mobile phones that they can use for storing Bitcoincash.

PHP’S HAS CAPACITY OF CHANGING APPEARANCE

Philippine Peso is always changing its appearance and designs every presidential terms. Php comes with specific designs, textures , forms and colors based on its value. Php has metallic  coins form for the small values and  paper money for its higher value.  Php’s highest value is Php1,000 that’s $20 in foreign currency exchange. This 2021 also Philippine announced that it will going to have Php5,000  bill as the highest denomination of the Philippines.

PHP IS CENTRALIZED

Fiat most basic advantage is its centralization. Centralization that really important for problem concerns about your money. Organization BSP or Bangko Sentral ng Pilipinas as example can be one of the center of decision making about the currency.

 Advantages of BCH to PHP

ITS VALUE

Comparing Bitcoincash’s value to Phillipine Peso value is too far from reality. Bitcoincash decimal form is to much greater than the decimal form of Php. Currently 1 Bitcoincash is Php21,685 while the Php 1 is only 0.000046 based on the current Bitcoincash price.

BCH IS DECENTRALIZED

One of the best advantages of Bitcoincash and other cryptocurrencies is the decentralization. Meaning, decentralization protecting our transaction is from the institution’s hands. Transactions are freely controlled by us.

BCH CAN BE MULTIPLIED TROUGH HODLING OR TRADING METHOD

Bitcoincash’ers are earning Bitcoincash from the actual amount of their Bitcoincash. They have different methods on how can day multiply gaining profits using their Bitcoincash that Php can’t do. What I mean here is the conviniencies of these methods they’ve used when it comes to earning profit  with Bitcoincash. The fact that alteast $2 worth of Bitcoincash can earn profit through different methods while Php 200 is having difficulties how to multiply it.  Bitcoincash has bunches of methods compare to Php.

BCH HAS QR CODE

One of the popular technology and most of the people using is the QR Code. BCH wallet can be stored using QR Code for receiving and making other transactions while you can’t  convert your worldy wallet in QR Code for storing PHP right? HAHA

Below are just comparison and what can possibly happened if we use the both currency. They have different uses and purposes to our lives, they can use in many way. BCH has the advantages that PHP can’t do and PHP has the advantages that BCH can’t do. They’re both important in many ways!

Thank you for reading!