{"id":2192,"date":"2019-02-21T09:25:18","date_gmt":"2019-02-21T09:25:18","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=2192"},"modified":"2021-06-04T14:16:04","modified_gmt":"2021-06-04T07:16:04","slug":"these-philippine-properties-are-selling-for-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/these-philippine-properties-are-selling-for-cryptocurrencies\/","title":{"rendered":"These Philippine properties are selling for cryptocurrencies"},"content":{"rendered":"<figure id=\"attachment_2193\" aria-describedby=\"caption-attachment-2193\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-2193\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/03\/shutterstock_1013852626-compressor.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1013852626-compressor.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1013852626-compressor-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/03\/shutterstock_1013852626-compressor-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-2193\" class=\"wp-caption-text\">Bitcoin is gaining traction in the Philippines. Eakvoraseth\/Shutterstock<\/figcaption><\/figure>\n<p>Three residential units that accept cryptocurrency or digital money as mode of payment\u00a0are making the rounds on Filipino social media.<\/p>\n<p>The properties, all located in the central Philippine city of Iloilo, welcome\u00a0payments in\u00a0Bitcoin or Litecoin, according to a series of Facebook posts by a licenced broker with real estate firm RE\/MAX Advantage Iloilo.<\/p>\n<p>&#8220;We are big proponents of cryptocurrencies and think we should start expanding the conversation towards seeing it as a viable payment option for purchases,\u201d\u00a0said home owner Jonha Richman, who serves as advisor to Litecoin Foundation.<\/p>\n<p>&#8220;We\u2019ve also planned on allocating the proceeds of the said sale of these particular investment assets of ours to cryptocurrencies anyway, so it makes sense to make it available to those who prefer to pay with cryptocurrencies.&#8221;<\/p>\n<p>Cryptocurrency adoption has been picking up pace in the Philippines, one of several countries eyeing the honorific of \u201ccrypto valley of Asia.\u201d Government officials have\u00a0mulled\u00a0a special economic zone north of Manila that will cater to offices of cryptocurrency exchanges.<\/p>\n<p>For a country with high internet penetration rates \u2014 four in 10 Filipino adults use the internet \u2014\u00a0the mainstreaming of cryptocurrencies as methods of payment is imminent, experts say.<\/p>\n<p>Around 75 percent of Filipinos do not have access to traditional financial instruments like bank accounts and credit cards, according to Colin Goltra, head of cryptocurrency programs at Coins.ph.<\/p>\n<p>Richman, however, cautions Filipino property seekers on the volatility of cryptocurrencies due to their highly speculative nature. \u201cWe fully know and understand the risks of newly emerging investment markets such as cryptocurrencies and their volatility,\u201d Richman said.<\/p>\n<p>\u201cIt\u2019s just a minority stake of our asset allocation and we do not suggest or recommend people to take part in it until they fully understand the risks.\u201d<\/p>\n<p>Prospective cryptocurrency buyers in the Philippines should\u00a0transact only with sellers and dealers licenced by the central bank, she warns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High internet literacy, coupled with middling access to traditional financial instruments, augurs growing interest ahead in digital money as payment option for residential real estate<\/p>\n","protected":false},"author":2,"featured_media":19931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,78],"tags":[],"class_list":["post-2192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-tech","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is 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