Best way BTC>PHP?

[spadormie]

@spadormie
Thanks, i think i have to try LBC.
About direct to Bank, i´m a little bit skeptical about that. No trouble if they see a credit from coins ph?

There were some cases that the bank is asking the owner of the bank account about the transaction of it. But, that was a year ago. I don't know if they are still doing this kind of process until now.

Can you please state what is the bank you are using? Metrobank is the case I was talking about. I just saw it in some posts in here that there was some kind of action by that bank regarding cryptocurrency.

Anyway, the bank I tried was BPI. No question, fast transaction by 10 am I can get it by 6 pm.

[lebron99x]

There were some cases that the bank is asking the owner of the bank account about the transaction of it. But, that was a year ago. I don't know if they are still doing this kind of process until now.

Can you please state what is the bank you are using? Metrobank is the case I was talking about. I just saw it in some posts in here that there was some kind of action by that bank regarding cryptocurrency.

Anyway, the bank I tried was BPI. No question, fast transaction by 10 am I can get it by 6 pm.

Thanks for sharing.
It´s PNB, that was the only Bank which offer me a Bank Account after few Month in PH. Others wan´t me to stay at least >6 Month and req additional Documents.

I was thinking to open a second BA @BDO or BPI but it´s really always crowded, many people on line. No surprise, BDO is the Bank #1 in Ph. Maybe i try it with BDO/BPI.

It completely depends. Kasi kahit na mas mura at mas mabilis ang withdrawal fee(0.25XRP) pag XRP ang gagamitin mo, pag icoconvert mo ung BTC mo to XRP sa Binance, may 0.1% exchange fee. So kung 'better' sya o hindi depends sa magkano ung balak mo iwithdraw, kasi baka kainin lang nung 0.1% exchange fee ung funds mo pag icoconvert mo pa ung BTC mo sa XRP bago mo iwithdraw.

Hi mjglgw,

sorry but can i ask you again please, what does yoour post means? I´m not good in tagalog...could you please translate it to me?

Would be really nice....
Have a nice day mate

[mk4]

Hi mjglgw,

sorry but can i ask you again please, what does yoour post means? I´m not good in tagalog...could you please translate it to me?

Would be really nice....
Have a nice day mate

Oh whoops. Automatically assumed that you can speak filipino.

Anyway, it completely depends. Transferring XRP from Binance to Coins.ph can be cheaper and faster due to the withdrawal fee being only 0.25XRP, but it really completely depends on how much you're planning on transferring. Always take note that Binance takes a 0.1% fee for exchanging assets (e.g. BTC <-> XRP). So depending on how much you're planning on withdrawing, it might be better to withdraw BTC from Binance to Coins.ph rather than paying unnecessary fees from converting your BTC to XRP, then withdrawing the XRP to Coins.ph. Again, because of that 0.1% fee. If you're planning on withdrawing a good amount, that 0.1% fee can eat up a good chunk of your funds.

^ Hope I explained that clearly enough.

Binance withdrawal and exchange fees: https://www.binance.com/en/fee/schedule

[lebron99x]

Oh whoops. Automatically assumed that you can speak filipino.

Anyway, it completely depends. Transferring XRP from Binance to Coins.ph can be cheaper and faster due to the withdrawal fee being only 0.25XRP, but it really completely depends on how much you're planning on transferring. Always take note that Binance takes a 0.1% fee for exchanging assets (e.g. BTC <-> XRP). So depending on how much you're planning on withdrawing, it might be better to withdraw BTC from Binance to Coins.ph rather than paying unnecessary fees from converting your BTC to XRP, then withdrawing the XRP to Coins.ph. Again, because of that 0.1% fee. If you're planning on withdrawing a good amount, that 0.1% fee can eat up a good chunk of your funds.

^ Hope I explained that clearly enough.

Binance withdrawal and exchange fees: https://www.binance.com/en/fee/schedule

Oh yes thank you mate, you explain it very well. Yes it is a good amount so i´m better with btc to coins i guess.
I hope they activate soon the ATM Cash Out @Securtiy Bank, because they still offer and make promotion for that on the first page. So people gonna sign in and get dissapointed after.

[mk4]

Oh yes thank you mate, you explain it very well. Yes it is a good amount so i´m better with btc to coins i guess.
I hope they activate soon the ATM Cash Out @Securtiy Bank, because they still offer and make promotion for that on the first page. So people gonna sign in and get dissapointed after.

You're welcome.

About ATM cash outs, chances are, the rates are going to be really really bad. They're probably going to have 8%+ price cuts, just like with most bitcoin ATMs.

I suggest trying out Abra[1]. Prices there tend to be significantly better compared to Coins.ph based on my experience(for both buying and selling).

[1] https://www.abra.com/

[lebron99x]

You're welcome.

About ATM cash outs, chances are, the rates are going to be really really bad. They're probably going to have 8%+ price cuts, just like with most bitcoin ATMs.

I suggest trying out Abra[1]. Prices there tend to be significantly better compared to Coins.ph based on my experience(for both buying and selling).

[1] https://www.abra.com/

8% for the ATM withdrawal @Security Bank? Ridiculous...
Then better don´t offer it, no one gonna use this and burn his money.

i checked out Arba and compared them with coins ph

Coins ph = 550,597 PhP
Arba       = 563,908 PhP (not sure if this is the selling price)

Withdrawal:
Coins ph = 120 PhP for example 50k (LBC is good to go here)
Arba       = minimum 1,5%

you need 2 ids for lbc withdrawal
i don´t know what do you need exactly for arba but you have to meet a arba teller to get your caash

which one would you trust more your money? i can´t say anything about arba, maybe they are good...from what i read now about coins ph is, they are serous and trustful

hope we have more choices in the future...competition is always good.

[spadormie]

Thanks for sharing.
It´s PNB, that was the only Bank which offer me a Bank Account after few Month in PH. Others wan´t me to stay at least >6 Month and req additional Documents.

I was thinking to open a second BA @BDO or BPI but it´s really always crowded, many people on line. No surprise, BDO is the Bank #1 in Ph. Maybe i try it with BDO/BPI.

Yeah, that's what they are requiring and that's what you need to fulfill. Anyway, BPI is different from BDO .

[mk4]

Both are really good and reputable. Abra is just far less known here in the Philippines because Abra focuses on an international demographic, while Coins.ph is focused mainly on the Philippines, hence heavily marketed here.

I really haven't tried withdrawal through LBC so I can't comment on that. I mostly use withdrawal to banks.

[lebron99x]

Both are really good and reputable. Abra is just far less known here in the Philippines because Abra focuses on an international demographic, while Coins.ph is focused mainly on the Philippines, hence heavily marketed here.

I really haven't tried withdrawal through LBC so I can't comment on that. I mostly use withdrawal to banks.

That´s great. I found also rebit. Any experience with them? I think that 3 are the only available right now.

I think it would be helpful if we open a Thread with online payment options via coins ph or bitcoins?
What do you think? So everyone is updated.

coins ph is posibble to pay
@Phil Airlines
@Shopee
@Traveloka
@Grab via Dragaonpay

[Clark05]

Pwede ka gumamit ng rebit.ph nakagamit na ako nito at masasabi ko naman na maayos at maganda ang service nila yun nga lang hindi ko maincompare kung alin sa dalawa ang mas mataas ang selling ng bitcoin dahil bihira ko lamang gamitin ang rebit.ph dahil ang coins.ph ay madalas kong gamitin dahil madali lang magcashout ng pera.

[spadormie]

That´s great. I found also rebit. Any experience with them? I think that 3 are the only available right now.

There are some people experienced using rebit and they found it good to use.

I think it would be helpful if we open a Thread with online payment options via coins ph or bitcoins?
What do you think? So everyone is updated.

coins ph is posibble to pay
@Phil Airlines
@Shopee
@Traveloka
@Grab via Dragaonpay

Well, you can just explore coins for these things. I mean, there are a lot to explore! Even paying beep card is possible with coins.ph. You can even buy load or even game credits with it. Pay your bills etc.

Pwede ka gumamit ng rebit.ph nakagamit na ako nito at masasabi ko naman na maayos at maganda ang service nila yun nga lang hindi ko maincompare kung alin sa dalawa ang mas mataas ang selling ng bitcoin dahil bihira ko lamang gamitin ang rebit.ph dahil ang coins.ph ay madalas kong gamitin dahil madali lang magcashout ng pera.

lebron99x can't understand Filipino. Better to translate this bro.

[lebron99x]

Well, you can just explore coins for these things. I mean, there are a lot to explore! Even paying beep card is possible with coins.ph. You can even buy load or even game credits with it. Pay your bills etc.

Don´t think i´m gonna use the beep card but paying bills > i like i like

lebron99x can't understand Filipino. Better to translate this bro.

No need anymore bro, i let it translate already...

Thanks all for your help guys, filipinos are helpful and friendly here as in real life
I´m gonna stick with coins ph, looks very promising.

[bisdak40]

I´m gonna stick with coins ph, looks very promising.

Hi @lebron99x, you are not a Filipino right? If so, does Coins.Ph approved your account application?

I thought that  Coins.Ph is just exclusively for Filipinos only.

[mk4]

Hi @lebron99x, you are not a Filipino right? If so, does Coins.Ph approved your account application?

I thought that  Coins.Ph is just exclusively for Filipinos only.

I don't think it's specifically only for Filipinos per se(because that would be very bad and a very weird rule), but most probably just for people that's currently residing in the Philippines. That'd make a lot more sense. Also, only level 3 verifications require address verification. https://support.coins.ph/hc/en-us/articles/201305154-How-can-I-increase-my-daily-transaction-limits-

[lebron99x]

Hi @lebron99x, you are not a Filipino right? If so, does Coins.Ph approved your account application?

I thought that  Coins.Ph is just exclusively for Filipinos only.

No i´m not and yes my Account is approved

[Ranly123]

Hi guys,

i just tried out coins.ph and i´m not sure if the way was correct...

Sended from blockchain btc to coins.ph btc wallet and then convert it to php wallet. I lost about 8$ for only 450$.
Or should i send from blockchain directly btc to php wallet @coins.ph, without convert?

Is there better alternatives?

Thanks for help

There is nothing wrong with your process. The only difference is the transaction fee in transferring BTC to coin.ph from other wallet is just high. You should have look for other alternative to save transaction fee. Like for example converting you BTC to xrp before sending it to coins.ph wallet. In that way you can save because transaction fee on sending xrp to coins.ph is lesser than BTC.

[miningmanila]

SCI Ventures does OTC buying and selling of BTC  You can go to their office and transact there

[evader11]

From where you got your BTC? If it is from the exchange, it is better you convert your BTC to XRP then withdraw your XRP to Coins.Ph then convert to PHP. That way, makakatipid ka sa transaction fee kasi cheap lang yong withdrawal fee kapag XRP ginamit mo.

Okay rin yan paps pero kung sa exchange palang nagconvert tayo from btc to xrp ay may fees rin tapos ililipat natin sa coinsph at may fees parin tapos sa php may bawas pa rin pero atleast mas mababa ang fee kaysa sa btc tapos lipat sa coins, yan din kasi ginagawa ko minsan kasi di ako makapagwithdraw dahil need nila ng minimum balance kung BTC ang i-withdraw kaya XRP nalang.