Bitcoin exchange latest rate August 2017
Bitcoin has become popular to many people around the world and because of its high demand, the exchange rate also rise up. In the past six months, the exchange rate has soar to its peak this month.
In March of this year, the selling price for a bitcoin was only 60k pesos. This month, particularly today, it is now on the 200k pesos level. That is about 333% increase. If you have bitcoin in the last six months and will exchange it today, that means your money has increased up to approximately 333%. Which means your 100 pesos in March is now 330 pesos, more than three times increase.
So what is bitcoin?
Bitcoins is an online currency without a direct regulation from the banks or central bank of a country. That means transactions are direct from one person to another. For those who are sending remittances to their loved ones in the Philippines, this is a great advantage as the fee is very low. Bitcoin Philippines Replaces Commerce, Remittance Online Payment because many Filipinos now prefer to send money to the Philippines using bitcoins.
This is also best for OFWs because they could get better exchange rate for their money abroad. Compared to other remittance services, bitcoin is the cheapest to send money in terms of fees while it has the highest exchange rate.
Does it really have the highest rate?
Let me tell you this. Bitcoin is a live trading facility available online which means the exchange rate can fluctuate at any single moment. The exchange rate is unstable because it depends on the market demand and availability of the coins in the marketplace. However, if you know how to play the game, you will really get the best and the highest exchange rate for your money. All you need is patience and techniques.
I am a member of Coins.ph since July and I can attest to you how reliable their system is and how credible the company is. Bitcoins can be used to buy mobile load credit as well as sending money from abroad to the Philippines at higher exchange rate on the day I sent the money. To know more about bitcoin, read my tips and techniques how to get higher exchange rate for your money from abroad using coins.ph in my next article. Thanks for visiting.