Update: It seems Prepaid Bitcoin has shut down. You can check out Abra where you can purchase Bitcoins via deposit:
October 6, 2017: Here at our Bitcoin Philippines Blog, we look for ways on how everyone can join and transact with Bitcoins. There are a variety of ways to buy BTC right now. We covered the majority of how to buy BTC in the Philippines in this article. Today, we will look at a way that involves both offline and online activities. We will look at Prepaid Bitcoin.ph.
Table of Contents.
Prepaid Bitcoin.ph is a unique way of buying Bitcoin in the Philippines. The website sells prepaid cards in Pesos with a corresponding Bitcoin denomination. Think of it like those old mobile prepaid cards you use to, well, load your mobile phone. You can buy these cards to select places in the Philippines, and even online.
Where to Buy Prepaid Bitcoin Cards Offline
As mentioned, prepaid bitcoin cards are physical cards you buy. You scratch its back with a coin to reveal a code, which will then unlock the bitcoin. These are the places where you can buy bitcoin
- Baicapture Office at 7635 Guijo Street, Makati City 1203. Check out the map here.
- Bitmarket PH office at Unit 606 GC Corporate Plaza, 150 Legazpi Street, Legaspi Village, Makati City, Philippines 1200. You can check the map here.
Where to Buy Prepaid Bitcoin Cards Online
Buy Bitcoin with your mobile load – Smart, TnT, Sun
As mentioned, you can also buy prepaid bitcoin cards online. The only way to do it right now is through the site called “Gamex“. This site will let you pay for the prepaid bitcoin card using your mobile load.
How to buy using Gamex
- First, go to the Gamex site.
- Specify the amount you want to buy.
- Once you click “buy” you will be directed to another page that instructs you to put your mobile no.
- You will receive an SMS with the code.
- Input the code on the Gamex site then view the pin. The pin is a 16-digit Activation Code
- Go back to Prepaid Bitcoin Site
- Input the code on the space provided.
- Input your bitcoin wallet address.
Prepaid Bitcoin Cards Denomination
As of the time I write this, here’s the denomination available and their bitcoin conversion.
|Peso||Bitcoin Conversion (as of Oct. 6, 2017)|
|Php 200||0.000607 BTC|
|Php 500||0.001518 BTC|
|Php 1,000||0.003036 BTC|
Why should you use Prepaid Bitcoin.ph?
- If you have been using and you trust BuyBitcoin.ph and Bitbit, know that PrepaidBitcoin.ph is run by the same company – Satoshi Citadel Industries.
- Buying bitcoins using your mobile airtime load is GODSEND especially if you are really far from a bank or a convenience store. Alternatively, for Bitcoin traders, think of those days when you really need to buy some bitcoins because the market is in a favorable condition (perhaps a short drop in value).
- It is an uncomplicated way to buy bitcoins in PH.
Are there Disadvantage in Buying Prepaid Bitcoin Cards?
There’s one that I see, and that’s the fact that the rates are is slightly different compared to most of the options that you can see in this article. For a little bit of cross-checking, let’s see how much is the bitcoin equivalent of Php 1,000 and Php 500 in Coins ph:
|Php 500||Php 1,000|
|Coins.ph||0.00216129 BTC||0.0043226 BTC|
|BuyBitcoin.ph||0.00215045 BTC||0.00430089 BTC|
|Bitbit||0.00215180 BTC||0.00430361 BTC|
|Prepaid Bitcoin||0.001518 BTC||0.003036 BTC|
Remember that BuyBitcoin and Bitbit are same companies hence their rates are almost the same, with a slight difference with what Coins.ph offers. However, you can see the glaring rate difference between the first 3 services and Prepaid Bitcoin.ph.
Looking at the table above, you can immediately conclude that the other options are better. However, this is a prepaid load with a physical card. There is added cost to that. The partnership with Gamex also must have their profits on top of the fee that we will pay.
Despite that, however, we still think it is worth trying PrepaidBitcoin.ph. This is especially true for those who are either very far from convenience stores or very far from the bank. Of course, always make sure that you have a proper Internet connection. You will need to input the code to Prepaid Bitcoin Website. Also, you must have your own bitcoin wallet address.
What about you? Have you used Prepaid Bitcoin Cards to top up your bitcoin wallet? Do you use other services? Let us know in the comments below!