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Author Topic: Alternative for BTC cash in and cash out [USD bank account]  (Read 1770 times)
Dhanems
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March 17, 2019, 03:35:55 AM
 #41

example:

(values based on the day and time posted)
(52 PHP = 1USD)

cash out

bittrex (3565 USD) = 185,380

coins.ph         = 180,801



cash in

bittrex (3571 USD) = 185,692

coins.ph         = 190,178


makikita natin na may ~5000 pesos or ~100 USD difference ang coins.ph sa bittrex



tested 1324 USD withdrawal from bittrex

bpi account received 1307.5 USD

sa mga allergic sa fees na mga tao dyan, as long as mas mataas ang selling price at mas mababa ang buying price sa bittrex ay mas marami ka pa rin na makukuha USD cash(sell) or BTC (buy)
-snip-

Ayos to sir ah. Paano pag nagtanong yung bank kung saan galing ang sources nung transacation fund, allowed ba na galing sa crypto currency exchange? And magkano ang fees from bittrex to your bank account?

Sa bittrex din dati ako nagtitrade kayo nung nag simula sila ng KYC lumipat na ako sa Binace. 

as of now allowed, crypto currency trading ang source of funds ko sa BPI ngayon.

remember this is a personal experience, i do not speak for the bank.

Ay wowww really, pwedi pala magcash sa bitrex,kyc approved me Jan e,via bpi LNG tlga..SNA landbank din noh:)
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Ipwich
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March 19, 2019, 11:46:53 PM
Merited by Remainder (2), shinharu10282016 (1)
 #42

I made another transfer again today, sent $156.21 and receive $139.71 in my BPI usd account, this means there is a charge of $16.5 for this transaction.
If I made this transaction with coins.ph, I could get a better rate as they are just 5% lower than the standard, here it's less 10% of my original amount.

Conclusion, wire transfer is not good for small transactions as the fee is your burden.
I don't know if this info is helpful in determining the fees, please help me analyze it and give your thoughts.

https://www.bpiexpressonline.com/p/1/694/international-wire-transfer


Next time I will transfer similar to the amount OP did in his example, let't see if the fee is reasonable.

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arielbit
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March 20, 2019, 11:40:19 AM
 #43

nakita ko ito sa website ng unionbank, kausap ko yung tao sa unionbank kahapon, wala siyang idea dito sa debit card na USD at wala daw silang card sa branch nilang ganun..mag iinquire daw siya at iuupdate ako.

ang disadvantage ng USD passbook:

 - may fifillupan na form kung magwiwithdraw
 - laging over the counter ang withdrawal (pupunta ka pa ng bank)

note: pag big amounts passbook dapat kasi hindi nakakaonline transfer ng pera for security purposes..hanggang viewing lang

perfect sana ito sa small amounts withdrawal at very convenient kasi sa ATM ka na magwiwithdraw (auto convert to peso), baka possible rin na mas maliit ang maintaining balance..


link: https://www.unionbankph.com/personal/debitcards/usdollar


try ninyo din mag inquire sa unionbank sa inyong mga lugar..
Ipwich
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March 21, 2019, 05:13:35 AM
 #44

Thanks for sharing bro, I opened an account at BPI which is a passbook account, so I really need to go their physically just to cash out.

nakita ko ito sa website ng unionbank, kausap ko yung tao sa unionbank kahapon, wala siyang idea dito sa debit card na USD at wala daw silang card sa branch nilang ganun..mag iinquire daw siya at iuupdate ako.

ang disadvantage ng USD passbook:

 - may fifillupan na form kung magwiwithdraw
 - laging over the counter ang withdrawal (pupunta ka pa ng bank)

note: pag big amounts passbook dapat kasi hindi nakakaonline transfer ng pera for security purposes..hanggang viewing lang

perfect sana ito sa small amounts withdrawal at very convenient kasi sa ATM ka na magwiwithdraw (auto convert to peso), baka possible rin na mas maliit ang maintaining balance..


link: https://www.unionbankph.com/personal/debitcards/usdollar


try ninyo din mag inquire sa unionbank sa inyong mga lugar..

The information you shared is really good and I will try to inquire for this with my friend working at Unionback, hopefully this is better for smaller transactions.

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Xenrise
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March 24, 2019, 08:26:08 AM
 #45

Hindi ba mas makakamura ka pag nilagay mo muna sa coins then isend sa bank account mo? Magkano ba fee ng bittrex sa mga pinapadala na btc? .001 btc? That's worth 205 php. And 1324 USD ang pera mo tapos ang natanggap mo is 1307.5. Let's break it down. Let's say 52 php is 1 usd.

Your transaction:
1,324 usd = 69,741.70 php
1307.5 usd = 68,872.56 php

69,741.70 - 68,872.56 = 869.14 is the fee(trex to BPI).

If trex -> coins -> BPI:

69,741.70 - 205 = 69,536.7 php

69,536.7 php sana ang matatanggap mo if ganto yung ginawa mong transaction.

69,536.7 - 68,872.56 = 664.14 php yung nawala mo sa ginawa mong transaction. Wala kasing fee ang pagpasa ng funds from coins to BPI.
arielbit
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March 24, 2019, 10:52:30 AM
 #46

Hindi ba mas makakamura ka pag nilagay mo muna sa coins then isend sa bank account mo? Magkano ba fee ng bittrex sa mga pinapadala na btc? .001 btc? That's worth 205 php. And 1324 USD ang pera mo tapos ang natanggap mo is 1307.5. Let's break it down. Let's say 52 php is 1 usd.

Your transaction:
1,324 usd = 69,741.70 php
1307.5 usd = 68,872.56 php

69,741.70 - 68,872.56 = 869.14 is the fee(trex to BPI).

If trex -> coins -> BPI:

69,741.70 - 205 = 69,536.7 php

69,536.7 php sana ang matatanggap mo if ganto yung ginawa mong transaction.

69,536.7 - 68,872.56 = 664.14 php yung nawala mo sa ginawa mong transaction. Wala kasing fee ang pagpasa ng funds from coins to BPI.

Consider the exchange rate first..as long as masmataas ang selling price ng BTC sa bittrex bale wala ang fee, ang coins pro lang ang halos nakakatapat sa rate ng bittrex pero halos walang laman yung exchange na yun, kung bibili ka ng malaki o magbebenta ng malaki , (exchange volume) malaki ang slippage at magiging spread.

At masmaganda na rin na may usd tayo, kung magdecide ka na bumili ng BTC outside ng bansa mahirap bumili ng usd.
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March 24, 2019, 12:46:31 PM
 #47

Consider the exchange rate first..as long as masmataas ang selling price ng BTC sa bittrex bale wala ang fee, ang coins pro lang ang halos nakakatapat sa rate ng bittrex pero halos walang laman yung exchange na yun, kung bibili ka ng malaki o magbebenta ng malaki , (exchange volume) malaki ang slippage at magiging spread.

At masmaganda na rin na may usd tayo, kung magdecide ka na bumili ng BTC outside ng bansa mahirap bumili ng usd.
Ang sinasabi kong wallet is coins.ph. Pero kung malaki ang difference ng exchange rate ng coins.ph sa trex, it's better for us to follow your transaction. At saka tama ka, isa din pala yun way para makabili ng BTC sa ibang bansa, what if magkashortage sa coins. Nice information though, sorry for not considering the exchange rate. Mas malaki volume ng trex sa coins that's why mas malaki ang presyuhan ng btc dun.
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March 24, 2019, 03:15:01 PM
 #48

Consider the exchange rate first..as long as masmataas ang selling price ng BTC sa bittrex bale wala ang fee, ang coins pro lang ang halos nakakatapat sa rate ng bittrex pero halos walang laman yung exchange na yun, kung bibili ka ng malaki o magbebenta ng malaki , (exchange volume) malaki ang slippage at magiging spread.

At masmaganda na rin na may usd tayo, kung magdecide ka na bumili ng BTC outside ng bansa mahirap bumili ng usd.
Ang sinasabi kong wallet is coins.ph. Pero kung malaki ang difference ng exchange rate ng coins.ph sa trex, it's better for us to follow your transaction. At saka tama ka, isa din pala yun way para makabili ng BTC sa ibang bansa, what if magkashortage sa coins. Nice information though, sorry for not considering the exchange rate. Mas malaki volume ng trex sa coins that's why mas malaki ang presyuhan ng btc dun.


pag dating naman sa "cash in" sa coins.ph up to 400k lang per month (level3) sa coins pro up to 15M pero, yun nga wala naman laman yung pro coins, parang binili mo na lahat ng BTC at ibang coins dun ng 15M mo hehe

(except sa mga custom accounts) note: wala pang nag share ng info dito na may custom account.

so pag dating ng next bullrun/trading action/massive volatility ...nasa labas ng bansa ang opportunity wala dito.

at pag nag cashout ka ng 500k pataas makikita/mararamdaman mo ang kalakihan ng mawawala sa iyo pag sa coins.ph ka nag cashout, sa 500k mga 20,000 din ang matitipid mo compared sa coins.ph.

saka yung meron lang tayong alternative sa coins.ph is good enough, hindi pwedeng umaasa lang tayo sa isa.
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March 27, 2019, 11:08:03 AM
 #49

Nowadays many banks will adopted a cryptocurrency like bitcoin..ripple and Ethereum..but be careful to link your bank account. So risky then:)even remettances will accept bitcoin and others crypto asset..
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March 28, 2019, 02:28:23 AM
 #50

Nowadays many banks will adopted a cryptocurrency like bitcoin..ripple and Ethereum..but be careful to link your bank account. So risky then:)even remettances will accept bitcoin and others crypto asset..

How is it being risky? Coins.ph have linked their bank to their depository banks and nothing happens, they still operate until now.
Maybe you should understand the low about crypto, if you don't do anything against the law, then you should not worry.

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March 28, 2019, 12:44:53 PM
 #51

~snip~
saka yung meron lang tayong alternative sa coins.ph is good enough, hindi pwedeng umaasa lang tayo sa isa.


May alternative naman kaya lang mas aggressive lang talaga ang coins.ph sa marketing and promotions kaya hindi makasabay ang iba.

Example ay ang bitbit.cash from the same operator of rebit.ph and from the PH Blockchain company Satoshi Citadel Industries

arielbit
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March 28, 2019, 01:14:24 PM
 #52

~snip~
saka yung meron lang tayong alternative sa coins.ph is good enough, hindi pwedeng umaasa lang tayo sa isa.


May alternative naman kaya lang mas aggressive lang talaga ang coins.ph sa marketing and promotions kaya hindi makasabay ang iba.

Example ay ang bitbit.cash from the same operator of rebit.ph and from the PH Blockchain company Satoshi Citadel Industries

plus abra pa..

idadgdag ko pa ito sa advantage -> "also by having more flexibility by owning USD, buying-selling BTC with USD outside of the country"
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March 28, 2019, 02:45:47 PM
 #53

~snip~
saka yung meron lang tayong alternative sa coins.ph is good enough, hindi pwedeng umaasa lang tayo sa isa.


May alternative naman kaya lang mas aggressive lang talaga ang coins.ph sa marketing and promotions kaya hindi makasabay ang iba.

Example ay ang bitbit.cash from the same operator of rebit.ph and from the PH Blockchain company Satoshi Citadel Industries
Much better talaga if we find alternatives. Napakalaking bagay yun na makakuha tayo ng alternatives, syempre makaka menos tayo ng fees.

Yung rebit.ph naririnig ko na to and sabi mas maganda daw yung palitan ng btc ditto. Di ko pa siya natatry though. Yung bitbit.cash ngayon ko lang narinig yan. Pero if the same yung operator but different name feel ko trusted naman yan.

Dhanems
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March 28, 2019, 02:48:39 PM
 #54

Nowadays many banks will adopted a cryptocurrency like bitcoin..ripple and Ethereum..but be careful to link your bank account. So risky then:)even remettances will accept bitcoin and others crypto asset..

How is it being risky? Coins.ph have linked their bank to their depository banks and nothing happens, they still operate until now.
Maybe you should understand the low about crypto, if you don't do anything against the law, then you should not worry.
Of course coins.pH is 100% legit I used coins.pH since 2015..risky to the new platform or website we don't know if its legit or not.unless you try it:)
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April 01, 2019, 06:32:48 AM
 #55

Makakatulong talaga itong post mo. Binabasa ko isa isa para hindi ako tanong ng tanong. Balak ko kasi gumamit na rin ng BPI para makadeposit at makawidro ng USD. Yung gusto kong itanong nababasa ko na dito. Kung meron pa akong itatanong siguro lalabas pa din kasi binabalak ko lang naman. Salamat
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April 01, 2019, 11:42:36 AM
 #56

Makakatulong talaga itong post mo. Binabasa ko isa isa para hindi ako tanong ng tanong. Balak ko kasi gumamit na rin ng BPI para makadeposit at makawidro ng USD. Yung gusto kong itanong nababasa ko na dito. Kung meron pa akong itatanong siguro lalabas pa din kasi binabalak ko lang naman. Salamat
You should try this, I successfully made it with OP's tutorial.
Now, I can directly sell my BTC in Bittrex with a competitive rates and then deposit the proceeds in my BPI dollar account .

There is a fee, but it's nothing if you do big transactions.

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arielbit
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April 03, 2019, 04:42:10 PM
 #57

ilagay ko lang ito dito  Wink

Ipwich
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April 04, 2019, 11:42:14 AM
 #58

Another alternative again, but when they say free, would that mean there is no charges.
I know Bittrex claimed they don't charge fee and it's free but with my transactions initiated in the past, there's still fee.


Have you tried cashing out using this exchange?

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arielbit
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April 04, 2019, 03:00:53 PM
 #59

Another alternative again, but when they say free, would that mean there is no charges.
I know Bittrex claimed they don't charge fee and it's free but with my transactions initiated in the past, there's still fee.


Have you tried cashing out using this exchange?

I haven't tried "cash in" and "cash out" from kraken, will try cashing out in the future, at the moment I don't need to convert crypto to fiat yet.

the fees turns out to be "bank fees".
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