How to Use the Lightning Network in the Philippines

The Lightning Network, Bitcoin's most popular payment network, is a revolutionary way to move money around the world. If you reside in the Philippines, the easiest way to start moving pesos over lightning is to download the Pouch.ph app.

The Lightning Network allows transactions can be made instantly for little or no cost, which has many advantages over the traditional payments, such as:

1. An Overseas Filipino Worker can send a remittance to the Philippines  for a fraction of the cost.
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2. Send Philippine Pesos directly to a US bank account with no fees and quicker settlement via ACH.
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3. New features like Lightning Addresses allow eWallet users in different countries to make instant fee-free payments with each other.
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4. An expat or digital nomad residing in the Philippines can instantly send money to themselves from abroad, without paying transfer fees.

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Receiving

If you are receiving a lightning payment, you can generate a QR code to show in person, OR you can share your customized Lightning Address, which looks just like an email address (for example [email protected]).

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Sending

If you are sending a lightning payment, there are also several ways to pay! For example:

1. Scan a lightning QR code, or
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2. Type in a Lightning Address (Tap "Send", then "Quick Send" in the Pouch app), or
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3. To send to a US bank account, tap "Send", then"Send Globally" in the Pouch app!

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Converting Pesos & Bitcoin

You can deposit or withdraw pesos in your Pouch account via bank transfer (InstaPay or PESONet), cash over-the-counter at leading national brands like 7-11 or MLhuillier, or even QR-PH.

Whenever it's time to pay via lightning, Pouch does the bitcoin conversion for you. This is helpful because you don't even need to be exposed to bitcoin volatility for everyday transactions.

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Bitcoin is ideal for long-term savings, but practically speaking, lightning startups around the world help to zap all sorts of currencies over lightning - after all, the Lightning Network was designed for real-world payments!

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