Coinbox: The Best Use of Bitcoin Now Is Investing It in SE Asia

On a quick statement by Coinbox, Coin News has managed to cover some points with Roy about this Malaysian Bitcoin startup. Here’s Roy statement regarding Coinbox:

On Coinbox

Coinbox is the best in terms of availability , you can knock our customer service 2.00 in the morning and there will be person to help you with. And the best of it, our system are mostly automatic, in case you need an urgent withdrawal or deposit. It only takes several minutes to complete your transaction. Even for top up your cellphone to 16+ Malaysian Telco Provider.

The most time spending is preparing the system, security, infrastructure, blockchain, etc which costs around 5-6 months to be built. The specific challange is that the Malaysian market is not getting used to Bitcoin, and it really neesd a lot of time to educate. This is where we tried to bring various events on Malaysia What I love the most from Bitcoin is the Blockchain technology; this is really the future of money.

The Best Thing

The best thing about us, I think is our system security and its real-time transaction. You don’t have to wait 30 mins just for withdrawal or deposit. And we are also the first in Malaysia to make it possible to top up your cellphone using bitcoin. We are now currently looking for hosting an offline event.

On Bitcoin

The volatility of Bitcoin price is what prevents Bitcoin from going mainstream. Of course it’s very hard if for exampl,e today you own 1000 usd, and tomorrow it becomes 980 usd.  Someone should come with a concept to minimize the volatility for example making a central bank for Bitcoin reserve.

I think the best usage of bitcoin right now is sending money abroad and investing in South East Asia. I’ve been visiting almost all countries in the South East Asian region, and in my opinion, this is the usage of bitcoin right now in South East Asia.

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On the Price

If Greece says no on the bailout, I think the Bitcoin price will go up for sure. Coinbase, the largest bitcoin wallet in USA, has also tweeted that there was a 300% increase on Bitcoin purchase in Europe alone. This refers to people who are afraid to keep their money in flat currency. Because right now in Greece, people are trying to withdraw all of their money from the bank.

Buy bitcoin now! It’s never too late. I remember when I first got to know bitcoin around 2012, and I was thinking perhaps this is just for geeks. But once I started using it, I was totally amazed by the technology behind it.  Bitcoin allows you to send money anywhere in the world with a very low fee.

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