Video Credits: Fikri Amnullah via YouTube

 

Image Credits: Sharon Lopez via Bitlanders

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The recent news on the suspension of the United States government on one of the popular online payment processors, Payza, prompted me to write this topic. I am aware that many members of Bitlanders are affected by this issue. Recently, Bitlanders made an announcement about reconsidering the use of cryptocurrencies such as Bitcoin (BTC)  and Bitcoin Cash (BCH) to send payment to its members. 

Image Credits: Micky via Bitlanders

Read about it here:

Important Announcement: Payza payments suspended; BTC and BCH Payouts available soon!

This is a great news even from members coming from the Philippines. We are open to using this currency, especially those who are currently engaging in Bitcoin activities. However, there may be some countries who might be affected because of the banning of the use of Bitcoins in their place.

Here is the list of countries that have banned Bitcoin: (Source)

• Thailand
• China
• Taiwan
• India 
• German
• Bolivia
• Russia

There were some friends from Bitlanders who requested for the consideration of Perfect Money as an alternative payment processor. This is good actually. However, upon searching further, I discovered that Perfect Money is not allowed in the US. (Source)  You may also read this article from BeforeitsNews.com for more details.

Though it may not be possible at this point to use perfect Money, please allow me to share my experience in using Perfect Money. I am hoping that this can help the whole community of Bitlanders in one way or another. I am not actively using Perfect Money as of this time but I still have some of my funds there. The good thing is that the amount I have in there is earning an annual interest. I can regard it as my online savings account. 

I opened an account with Perfect Money during the time that I tried exploring revenue sharing sites and other sites dealing with investment activities. That was also the time when I was actively participating in Bitcoin activities.  

Image Credits: PerfectMoney.is

Because PayPal does not support HYIP or High Yield Investment Programs, sites having this kind of business are paying through different payment processors such as Payza, EgoPay, Payeer, and Perfect Money. Moreover, PayPal does not support campaigns that violate their Acceptable Use Policy or activities that violate any law, statute, ordinance, or regulations such as:

• Currency exchange
• Refinancing debts
• Lotteries and gambling
• Get rich quick schemes

Source: PayPal Support

In 2015, I joined two revenue sharing companies namely,  MyPayingAds and Traffic Monsoon, both were selling advertising packages. During the start, these companies were using PayPal as a mode of payment. I wouldn't be joining a site unless it was paying through PayPal because that was the only payment processor I was familiar with. 

After some time, PayPal had frozen their funds because of the alleged violation of their TOS. The sites allowed other payment processors, I opened for a  Perfect Money account in order to withdraw my funds. 

One of the setbacks when using Perfect Money is that the site does not support bank transfer in the Philippines. Filipino online workers need to transact with an online exchanger before they could receive their online earnings or they could use the bank wire option which is charging high fees. As much as possible, Filipinos who are working online do not join sites that do not pay with PayPal. 

One of the good things about Perfect Money is that it does not allow transactions to be reversed. Secondly, they wouldn't allow logins from a different IP.  When the system detected that a different IP has been used for logging in to the site, they will automatically block and will send a code to your email. This is one of the security measures that I like about the site. 

Like Payza, Perfect Money also accepts Bitcoin transactions. So during the time that I had been receiving funds to my Perfect Money account, I was thinking that I could convert my dollars to Bitcoins within the site. However, there was no option for such transaction. Meaning, if you don't receive Bitcoin on your account, you cannot send Bitcoin. 

Image Credits: Sharon Lopez via Bitlanders

Moreover, looking at the image below, it can be seen that there was no 'Dollar to Bitcoin' exchange option or vice versa. Similarly, sending Bitcoin to another wallet requires that you received Bitcoin from another source. This situation has made me thought of acquiring service from online exchangers which was the first advice given to me by the person who encouraged me to join revenue sharing.

Image Credits: Sharon Lopez via Bitlanders

(Screenshot of the actual process)

Before deciding, I've done few more pieces of research until I discovered Changer.com. The site offers to convert dollars from some online payment processors to Bitcoins and other e-currencies which will be sent directly to your desired wallet address. 

Image Credits: Sharon Lopez via Bitlanders

Having a little knowledge of these types of online transactions, I was skeptical at first. But then after some time, I decided to give it a try and if anything undesirable thing happens, I will charge it to experience. 

Image Credits: Sharon Lopez via Bitlanders

I decided to try a few amounts just to make sure.  Below is a simple transaction with the current Bitcoin rate. Don't forget to enter the Bitcoin address. In our country, we use Coins.ph wallet. From there we can send the amount directly to our ATM or other bank or money changing institutions. 

Image Credits: Sharon Lopez via Bitlanders

The photo below shows the actual transactions I made. Look closely at the amount of Bitcoin during that time and compare it to the current price.  

 Image Credits: Sharon Lopez via Bitlanders

Conclusion:

I am not sure if this could help. But for those countries which are not allowed to have Bitcoin, but they can use Perfect Money, I think this can be a solution. Though I am not really sure because I haven't tried it yet. I will try to search more about it. 

I always believe that for every problem that we encounter, there is a corresponding solution. We just have to search for it. 

Image Credits: Corp-insider.com

 Here is a video showing how to exchange Bitcoin using Changer.com. Enjoy watching!

Video Credits: Simple Step1 via YouTube

 

Meanwhile, here is a Querlo Chat Survey made for you...

Thank you for sharing your most valuable time reading this post. Stay tuned for more updates!

 

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Written for Bitlanders
by Sharon Lopez

Thank you for reading.

Please visit my BLOGS more quality blog posts. 

Sharon Lopez is the owner of Online Working Solution and Sharon S Lopez

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DISCLAIMER: The views and opinions expressed in this blog post are that of the author and does not in any way represent the agency or department she currently belongs.

 ADDITIONAL NOTE: The sites mentioned in this post are for information purposes only and links are provided for easy access. The author does not receive any remuneration from the said companies or sites.