The Start Of Bitcoin Cash Mass Adoption In The Philippines Will Be Possible Through GCash

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Avatar for Jane
Written by
3 years ago

August 26, 2021

In May 2021, the Philippines crypto community was surprised by the news of Philstar about the leading Philippine mobile wallet GCash for its future adoption of cryptocurrencies on its products and services. The mobile wallet will soon be accessible for buying, selling, and saving cryptocurrencies just like its great rival crypto wallet Coins.ph is offering.

As a crypto holder, the GCash adoption of cryptocurrencies will be a great start for massive crypto adoption in the Philippines, and that includes Bitcoin Cash. Cryptocurrencies may be known to many Filipinos, but the adoption and integration of cryptocurrencies in daily transactions are what our country is lacking. The intention to invest in cryptocurrencies is high among Filipinos because we are always open to any kind of investment that will give us a definite return.

The youngsters, for example, are among the Filipinos that are keen on exploring and trying new earning opportunities online, either on crypto or non-crypto-related earning platforms. Poverty and aiming for a higher income that our country can't provide are some of the reasons why Filipinos are seeking better opportunities online that will give them extra cash to support their families and studies financially.

Back on track, the GCash integration of cryptocurrencies in its financial products and services is a potential road to massive Bitcoin Cash adoption in the Philippines.

How can GCash help Bitcoin Cash mass adoption in the Philippines?

GCash is a preferred mobile wallet by most Filipinos and the number one finance app. It is owned by Mynt and is a subsidiary of Globe Telecom Inc which is one of the biggest network companies in the country. And according to Statista, the digital wallet has an average of 33 million users in 2020 with a 65 percent increase from the previous year. And as of July 2021, the wallet has about 46 million registered users according to Rappler.

Click the image to check the source

The potential for massive BCH adoption in the Philippines is high once GCash will integrate cryptocurrencies into its financial products and services. As of 2021, there are only a few merchants in the Philippines accepting Bitcoin Cash. You can check the list of BCH merchants in the Philippines in this article of @BantayanIsland

Philippine Merchants Accepting Bitcoin Cash (BCH) As Payment

GCash on the other hand has over 73, 000 partner merchants across the Philippines.

As the pandemic hit the world, the Philippines became the third-highest rate of crypto users across the world according to Thefintechtimes. Meanwhile, GCash serves as the main medium for cashless payment of most Filipinos in buying, selling, paying bills, bank transfers, and more digital payment transactions.

Probably, millions of Filipinos are now using cryptocurrencies since it was known in the country in 2017. And the average number of users is increasing day by day with the help of different crypto platforms.

Image from: Image from: https://news.bitcoin.com/philippine-mobile-wallet-gcash-buy-sell-cryptocurrencies/

And with the help of GCash crypto adoption, cryptocurrencies can easily be introduced to their current million users and thousands of merchants and will be known to more Filipinos across the country. Many GCash users are current users of cryptocurrencies already. Noise.cash for example has more than 200,000 users and read.cash has more than 70, 000 users and the majority of them are Filipinos. These Filipinos are already aware of Bitcoin Cash and other cryptocurrencies and users of GCash as well.


The start of Bitcoin Cash Mass Adoption with GCash

As I have mentioned above, Filipinos are keen on exploring new earning opportunities. The BCH adoption will start by introducing crypto to GCash users and merchants. The consumers' and merchant's curiosity about the new feature of GCash will lead them to dig more information regarding cryptocurrencies and how they will be useful in their daily business transactions. The cryptocurrencies' advantages, benefits, and huge potential returns will then convince them to use cryptocurrencies in GCash, and accept crypto as a form of payment.

GCash Merchants' form of payment: Why Bitcoin Cash, not other cryptos?

The possible list of cryptocurrencies that will be added on GCash based on the first blockchain-backed platform coins.ph might include Bitcoin, Ethereum, Bitcoin Cash, and Ripple.

Unedited photo from: https://www.pinterest.com/pin/487233253434950506/

For practical merchants, if they will adopt cryptocurrencies as a form of payment using GCash, they will choose the crypto with lesser fees, fast transactions, higher potential returns, and good for long-term investment.

Bitcoin was the first crypto introduced in the Philippines and is currently used widely in the country. Ethereum on the other hand is famous for its outstanding innovation, DApps, and smart contract platforms.

However, BTC and ETH are really not good options for digital payment because of their high transaction fee and very low transaction speed.

Among all the cryptocurrencies above, Bitcoin Cash is the peer-to-peer digital currency that allows consumers and merchants to receive and send payment in the fastest transaction time and with very low transaction fees. Meanwhile, many crypto users see Ripple as a good form of payment as well and many Filipinos are also using this crypto because of its cheaper price.

However, if you will compare the two cryptos based on their potentials and fundamentals, Bitcoin Cash will always lead the spot. XRP is also backed by RippleNet, and the company's downfall is also a downfall for XRP. Just like what happened to it last November 2020 where the company faced a lawsuit charged by the U.S. Securities and Exchange Commission (SEC) due to alleged marketing of XRP illegally to retailer customers.

A practical merchant won't wait for too long for the payment to arrive in his wallet. And a practical customer won't use crypto with high transaction fees as customers are always after saving money and lower prices. Thus, Bitcoin Cash is a great form of digital payment that will be accepted by most GCash merchants and users.


Why is GCash the way to crypto mass adoption when coins.ph comes first?

Coins.ph is the first blockchain-backed crypto wallet in the Philippines and regulated by the Bangko Sentral ng Pilipinas (BSP) that offers products and services that GCash has.

Both coins.ph and GCash apps allow their consumers to:

  • Direct access to banking

  • Send remittances local and international

  • Pay bills

  • Buy loads/mobile data

  • Buy game credits/internet plan

  • Online shopping

  • Save money

Coins.ph may be the first crypto wallet in the Philippines, but GCash offers services that coins.ph don't have. And that is the use of QR code in buying products in many local stores and supermarkets as well as in public transportations.

Coins.ph has fewer partner merchants compared to GCash and a growing number of Filipinos are aiming for cashless payment for their safety and convenience. And if you visit different shops in the Philippines, you'll see GCash QR codes in many stores. Public vehicles are now accepting GCash as well as forms of payment. The process for cashing in and cashing out in GCash is also more convenient because of its thousands of partners anywhere in the country, compared to coins.ph that can only be done through remittance centers and banks.

Thus, GCash is a great way to massive Bitcoin Cash adoption in the country if all its consumers and merchants will adopt crypto and use Bitcoin Cash as a form of digital payment. And it would be the moment that we are waiting for, to use Bitcoin Cash in our daily transactions, buying products, mobile data, paying bills, online shops, and more.


Closing Thoughts:

Digital payments and cryptocurrencies are becoming mainstream in the Philippines. And in this pandemic era, many are clamoring for cashless payments for their safety and convenience, and to avoid physical contact during transactions. The adoption of cryptocurrencies has also been a huge help for many Filipinos financially especially during this pandemic crisis wherein many Filipinos lost their jobs and many business owners closed their businesses.

Filipinos are now starting to view the value of cryptocurrencies as an investment and a mode of generating income through the help of crypto games and other crypto platforms. The evolving technological landscape in the Philippines is also the main factor of growing cryptocurrency adoption in the country.

With the help of the upcoming GCash feature for cryptocurrencies, the possibility for Bitcoin Cash to be adopted by its partner merchants and consumers is high due to its advantages and being a great candidate for digital payment.

Besides, Bitcoin Cash sound money to the world. It is fast, has low fees, is reliable, simple, stable, and secure. And its permissionless innovation, fixed supply, and decentralized development are the qualities that make it stand out among cryptocurrencies.

So are you guys ready to use BCH in daily transactions? Let's hope that GCash will us achieve this mass adoption. More merchants to come, and the start of Bitcoin Cash mass adoption in the Philippines.

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Comments

Thanks for the mention of my article, now back in action. Let us helped one another in spreading the good news about Bitcoin Cash.

$ 0.00
2 years ago

Having a crypto wallet sa gcash would be very convenient talaga.

$ 0.00
3 years ago

That is a good idea and really helpful for me as most of my transactions are thru Gcash.

$ 0.00
3 years ago

Having a crypto wallet sa gcash would be very convenient talaga. I just hope they won't have the same high fees like with coins.ph. I have a feeling na magiging mataas fees nila because of all the convenient features they have.

$ 0.03
3 years ago

Isa ako sa matutuwa if ever mangyari to. Gcash tas BCH. Yay! Perfect combo!

$ 0.03
3 years ago

Super...madali nlng

$ 0.00
3 years ago

ay goodnews yun..hehe

$ 0.00
3 years ago

Wow this would be a great leap.

$ 0.00
3 years ago

Sana yung Shopee at Lazada rin. 😁 Kung may crypto na sa Gcash, for sure marami ng magkakainteresado sa read at noise lalo na dito samin bihira lang may alam ano ang bch

$ 0.00
3 years ago

For sure na kapag mas dumami pa ang cryptos na kayang i-offer sa mga e-wallets dito sa atin like GCash and coins.ph? Or kung sakali mas dumami pa din ang nakakakilala or makakakilala sa BCH? Nakikini-kinita ko na na mas magsi-seek pa ang mga tao ng mga sites na pwedeng mag-earn ng cryptos. And kung mas madami ang maka-discover ng read.cash at noise.cash? 'Di malayo na patawan na din tayo ng tax, just like 'yung sa Axie ngayon.

$ 0.05
3 years ago

Possibly.. Pro hndi naman tyo nun maapektuhan.. Kc whole crypto yun kung magpataw ng tax.

$ 0.00
3 years ago

Ah ganun pala. Na-relief naman daw ako ng very light.

$ 0.00
3 years ago

I'm so ready to use bch in my transactions but still I don't see it here. I hope Gcash, Paymaya and the like including Shopee and Lazada will soon accept BCH .

$ 0.03
3 years ago

Ay bet ko yan.. Madali nlng

$ 0.00
3 years ago

..yay hoping matuloy para di na need dumaan sa coins.ph ang transactions din 😊

$ 0.00
3 years ago

Ayos po ito lalo na Maraming gumagamit ng Gcash mas madali kesa sa Coins.ph mas madali pa makapag cash out malapit lang samin lalo na fully verified pa ang Account ko 🥰 Mas makikilala pa lalo ang crypto dito sa pinas kaya sana mangyari na hahaha excited ang lahat 😊

$ 0.03
3 years ago

Sana nga.. 😁

$ 0.00
3 years ago

Predicting BCH to GCASh collaboration sure yan mababa lang yung transaction fee. Sana sana!

$ 0.03
3 years ago

Sana nga.

$ 0.00
3 years ago

Alam mo ba, dahil don sa mga P2E na game na nagkalat ngayon. Ang dami kong nakikita sa Fb friend ko na nag shesgare ng mga token na binibili nila. Unti unti na tslagang sumisikat ang Cryptocurrency sa Pilipinas, kung mas maraming nakakaalam noon super na mas madami na ata ngayon. Sana naman etry din nila ang Bitcoincash ano. Pero mas makikilala un if ever nga mangyayari yang sa GCASH. UwU exciting 🤩

$ 0.04
3 years ago

Kpg few crypto lng ilist sa gcash, for sure BCH ksama jan. At cgurado mas gagamitin ng consumers yun

$ 0.00
3 years ago

Kaya nga, sana naman nakuu excited na me.

$ 0.00
3 years ago

Based on what I read, Gcash is a really great way for cryptocurrencies in general to be adopted amongst the masses, even among people that previously didn't know about it or knew about it but weren't previously interested. It's a wonderful opportunity for people to use their cryptos to access services eithiut having to first convert it to fiat.

But the question would be "what about the price fluctuation?" Wouldn't it affect the value of the services for instance when a certain good is bought at a price and BCH dries the next day. wouldn't the seller feel at loss? Just my thought. Tell me what you think about this.

$ 0.05
3 years ago

Merchants should know that matter before accepting crypto. And why at loss? In every dump there's a pump.. The returns is even bigger when the price gets back on track. Accepting crypto is like a long-term investment.. Let's say save your one month BCH income in selling your products. After one, two, or three months, you'll get a huge profit

$ 0.00
3 years ago

I think its not a good idea, kasi yung iba need din yung money para sa products nila. what if need na nila yung money tas bumaba price ng BCH wala silang choice kundi e withdraw yung BCH. hindi naman pwede na mag restock sila every 2-3 months. Hindi naman ganun yung business.

$ 0.00
3 years ago

I hope Gcash will accept buy and sell of crypto soon, I hope Philippines also accept cryptocurrency that would be a great adoption.

$ 0.03
3 years ago

And we're looking forward to using it

$ 0.00
3 years ago

mas madali na rin mag invites kasi mas accesible nila ang gcash compare to other crypto wallets lalo na pag bago pa lang sila sa crypto world like me

$ 0.03
3 years ago

Tama.

$ 0.00
3 years ago

With your claim and what I understand from the article, I believe Gcash would make the growth of BCH escalate in the Philippine and the impact would be felt positively across the globe.

$ 0.03
3 years ago

For sure it will. .and we are excited to wait for it to happen

$ 0.00
3 years ago

If ever GCash was to integrate crypto currency into the system. Then it would be great as I no longer have to go through Coins.ph to have my BCH into peso. Just hope that the company realize their advantage over Coins.ph soon. And I can't wait for it to happen honestly. And I use GCash more often than Coins.ph.

$ 0.03
3 years ago

Let's hope for that

$ 0.00
3 years ago

Ay ang galing naman sis kung go na talaga yan :) I will be using it too for sure :)

$ 0.03
3 years ago

Same ..

$ 0.00
3 years ago

Mas madali talaga gamitin si GCash at mas mababa ang fees unlike ni coins.ph, kaso di pa verified GCash ko😅 wala pa akong email na natatanggap

$ 0.03
3 years ago

San hndi ka verified? 😅

$ 0.00
3 years ago

Sa GCash po😅

$ 0.00
3 years ago

Pag talaga mayroon na Yung gcash, lilipat ako sa gcash pag maganda haha. Baka mababa lang fee kesa sa coins.ph.

Ipapa verify ko yun kay mama uli🤣

$ 0.03
3 years ago

Verify mo na habang wala pa haha

$ 0.00
3 years ago

Hmmm. Diko alam if mas maganda nga si Gcash ate since di ko naman masyado nagagamit acc ko don. Mas sanay ako sa Coins.ph kasi madali lang siya gamitin 🤧 pero I hope na kapag pwede na gamitin si Gcash at may crypto na, matututo din naman siguro ako doon. Tsaka sabagay, goods din na si Gcash ang gamitin kesa si Coins.ph kasi maliit lang talaga nakaka alam kay Coins.ph since kokonti lang naman nakakaalam or may alam sa crypto dito sa pinas mas madami nakakagamit kay gcash at makakanendorse siya sa pagka tunog sa buong pinas ni BCH .

$ 0.08
3 years ago

Gcash kc kahit sa retail stores pwd mag cash in at cash out. Kya mas madali n

$ 0.00
3 years ago

Kung ganon marami na talagang makakaalam kung ano ang crypocurrency which is good kasi widely used and gcash sa pinas

$ 0.03
3 years ago

Kya nga. Mas madami mag aadopt rn ng bch

$ 0.00
3 years ago

True. At mas madali ng eexplain sa kanila kung ano ang bch.

$ 0.00
3 years ago

Sana na man kasi minsan na hihirapan ako gumamit nang coins.ph mas madale kasi ang gcash gamitin at mababalang ang transaction fee pag kukuha kanang pera.

$ 0.03
3 years ago

Kya nga. Mas prefer ng maraming pinoy

$ 0.00
3 years ago

Kaya nga po ehh sana po talaga at yan ang mangyare para hindi masyadung mahirap po.

$ 0.00
3 years ago

Sana nga . pra mas dumami merchants sa pinas

$ 0.00
3 years ago

Oo nga po ate jane para din sa ating mga read cash at mga taga noise cash na users

$ 0.00
3 years ago

Congrats G.Cash is going to change the fate of Philpines. I hope it will give freedom of money to everyone including youngstars, old and Women as well. Crypto is ultimate evolution of money sooner or later every one will accept it.

$ 0.03
3 years ago

Let's hope for that

$ 0.00
3 years ago

Pag talaga puwede na crypto sa g cash laking tulong nun para sa mga bata na tulad ko na di verified sa coins 😂 Mas madali na maglabas ng earnings haha

$ 0.03
3 years ago

Wala KYC sa gcash noh? 😅

$ 0.00
3 years ago

Good news yan sa mga katulad ko na GCASH users..GCASH na talaga ang gamit ko sa pagbabayad ng bills ko since nung nag pandemic.

$ 0.03
3 years ago

Ako hndi pa ngamit since abroad ako. Pro yung mobile wallet dn dto tumatanggap ng gcash na padala

$ 0.00
3 years ago

I see..nakakatakot lang kasi mag store ng pera sa gcash due to mga previous scamming incidents.. Kaya ang gawa ko, kung kailang lang ako magbabayad saka lang ako magkakacash in.

$ 0.00
3 years ago

Hndi naman maiiscam pera sa gcash kung hndicm ibibigay sa iba 😅

$ 0.00
3 years ago

Sabagay nga..

$ 0.00
3 years ago

Good news for you all. More power to u all

$ 0.00
3 years ago

Sana mas mababa yung transaction fees pati conversion sa gcash pag may crypto na. Pansin ko kase malaki ang patong ni coinsph.

$ 0.03
3 years ago

Sobra laki..

$ 0.00
3 years ago

That is fantastic news and lots of options to use BCH.

$ 0.03
3 years ago

Still hoping for that.. They didn't release that feature yet.

$ 0.00
3 years ago

I have also Gcash account mas madali lang talaga siyang gamitin at mas madali yung transaction hmm

$ 0.03
3 years ago

Yup. Mas mababa pa fee

$ 0.00
3 years ago

Can't wait mas madali kasi sa gcash kaysa sa coins ph.

$ 0.02
3 years ago

Oh my, what a deep knowledge you have on crypto :) I still struggle with understanding everything lol...

$ 0.00
3 years ago

Thanks

$ 0.00
3 years ago

This is amazing! The BCH spread is inevitable. I will we could these types of merchant here in our country too.

$ 0.03
3 years ago

I guess you have too..you just don't know bout them

$ 0.00
3 years ago

Maybe

$ 0.00
3 years ago

kung saka-sakali sis mas convenient na nian ne. So exciting naman yan. san very very soon na para dun na lahat. hehe

ang gcash pa meron na din card na pwede sa ATM so mas convenient na talaga. hehehe

$ 0.03
3 years ago

Kaya nga. Finally mgagamit na BCH sa pagbili. Haha. Sana nga lng ay tanggapin ng merchants yun

$ 0.00
3 years ago

Andami qong natutunan madam,soon makakagamit na din aqo ng Gcash pag uwi ng pilipinas In Gods will.nabuksan ang isipbqo sa maraming bagay dhl sa article mo.thank you so much

$ 0.00
3 years ago

wow goodnews yan kc halos lahat my gcash pang bills payment, money trans, online purchases ganern lalo ngayong pandemic..atlis sa gcash na lahat pati crypto

$ 0.03
3 years ago

Kya nga. Waiting tlga ako dto

$ 0.00
3 years ago

Ay talaga ba? Mas okay to kasi mdaming merchant ang nag aaccept ng payment tru gcash eh. Unlike sa coins.ph na pay bills lang talaga..

$ 0.03
3 years ago

Yup and online payment. Gcash kc dami merchants.

$ 0.00
3 years ago

Saka meron din silang GCredit.

$ 0.00
3 years ago

Wow! So excited if that happens! i am a GCAsh user and I wpuld love to transact BCH through it! ♥️

$ 0.03
3 years ago

Yun tlga gusto ko mangyari... Maexperiencr gamitin ang bch sa pagbili at pagbayad

$ 0.00
3 years ago

Nabasa ko yan madam sa GCash kakatuwa! So I have an option na other than coins.ph.

$ 0.03
3 years ago

Yup.. May mganda gcash kc pwd gamitin kht saan unlike coinsph

$ 0.00
3 years ago