Best way BTC>PHP?

[lebron99x]

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

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[asu]

Hello lebron99x,

You are indeed correct from what you did:
(blockchain withdraw btc > send to coins.ph btc wallet > convert to php)

It’s just about the fees that your $450 amount reduced $8 when you converted your btc to php.

I’ve captured the bitcoin price at Timestamp: 11:21:00 PM

Coins.ph	Preev	Google
______________	______________	______________
498,866 PHP	510,200 PHP	509,998 PHP

That’s how coins.ph work by having a low bitcoin price when converting or to withdraw.

Unfortunately only coins.ph works reliable so far to withdraw your bitcoin. Can’t recommend alternative way to withdraw your bitcoin with such low fees or higher value of bitcoin price to withdraw.

[bisdak40]

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.

[asu]

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.

It’s stated above that the BTC came from a hot wallet (blockchain.com).

I’ve done a lot of transactions thru exchange converting it first my btc to xrp and I mostly recommended it also to using an alternative way of sending btc to coins.ph just not to cost them alot in transaction fees and if they’re in a hurry xrp is the best alternative to use. Though it’s still the same but rather have just a slight difference when it comes to fees because I know blockchain applies just a small amount of fees when you’re sending a bitcoin to another wallet. But then again, it’s still the same when it comes to coins.ph converting btc to php that will reduce you a slight amount because that’s how coins.ph works.

[mk4]

Mejo may kamahalan nga talaga ang BTC. Unfortunately dun sila kumikita so wala tayong magagawa besides makipag transact ka nalang sa tao mismo in person para walang fees. Try mo rin pero ung Abra[1], based on my experience dati mas mura kahit papaano.

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.

As far as I know ung fees kung saan nalugi si OP, is sa patong ng Coins.ph sa price ng BTC.

[1] https://abra.com/

[LbtalkL]

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

I think ito hinahanap mo https://bitcointalk.org/index.php?topic=5127937.0
pero bago mo subokan tingnan mo muna ang mga rates kung makasave ka ba or hindi pero kadalasan makakasave ka talaga diyan.
Try in your own risk po.

[GreatArkansas]

I think ito hinahanap mo https://bitcointalk.org/index.php?topic=5127937.0

Seems na parang newbie siya pati na din siguro sa coins.ph kakaregister niya at baka di siya nakasali sa whitelisting ng coins pro. Medyo matatagalan pa siya nyan pag mag pasa siya ng application for beta ng Coins Pro. Di niya magagamit ang method na ito [GUIDE] Sekretong Malupit sa Pag Convert to PHP sa Coins.ph!

But, madami ibang way na mas makakatipid ka kompara sa coins.ph(pag wala kang coins pro).
Gaya ng Abra which I already tried na din at after ko ma convert yung BTC sa abra, withdraw ko agad sa bank account ko, after 2-3 days, dumadating na. So far, so good, mas maganda dahil hawak mo yung private keys mo sa Abra tapos no need mag pasa ng personal information mo para maka cash out ka ng PHP sa kanila o maka bili ng BTC.

[micko09]

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.

mas makakatipid ba pag BTC to XRP tapos XRP to PHP? kasi parang same lang din ata fees nya basta dadaan sa coins.ph, tapos my charge pa pag iwiwithdraw pa, ang na try ko palang kasi ETH, halos same lang sya sa BTC ang fees.

[bisdak40]

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.

mas makakatipid ba pag BTC to XRP tapos XRP to PHP? kasi parang same lang din ata fees nya basta dadaan sa coins.ph, tapos my charge pa pag iwiwithdraw pa, ang na try ko palang kasi ETH, halos same lang sya sa BTC ang fees.

Akala ko na galing sa exchange yong BTC niya but as per @asu's comment that it comes from a hot wallet (blockchain.com), hindi ito applicable yong nasa isip ko.

Ipagpalagay natin na galing ito sa exchange (Binance), you convert your BTC to XRP, then withdraw your XRP to Coins.PH with a withdrawal fee of 0.5 XRP which is equivalent to PHP10.0 more or less. If you directly withdraw your BTC to Coins.Ph the withdrawal fee is 0.0005 BTC which is PHP 250.0 on the current value. With this method makakatipid ka ng PHP 240.

[micko09]

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.

mas makakatipid ba pag BTC to XRP tapos XRP to PHP? kasi parang same lang din ata fees nya basta dadaan sa coins.ph, tapos my charge pa pag iwiwithdraw pa, ang na try ko palang kasi ETH, halos same lang sya sa BTC ang fees.

Akala ko na galing sa exchange yong BTC niya but as per @asu's comment that it comes from a hot wallet (blockchain.com), hindi ito applicable yong nasa isip ko.

Ipagpalagay natin na galing ito sa exchange (Binance), you convert your BTC to XRP, then withdraw your XRP to Coins.PH with a withdrawal fee of 0.5 XRP which is equivalent to PHP10.0 more or less. If you directly withdraw your BTC to Coins.Ph the withdrawal fee is 0.0005 BTC which is PHP 250.0 on the current value. With this method makakatipid ka ng PHP 240.

fix ba ung 0.5 XRP na fee? or dipende sa amount ng wiwithdrawhin? sige OP salamat sa idea, try ko to sa next payout ko, tapos mag update nalang ako kung mas malaki nga matitipid ko sa same amount na na withdraw ko dati.

[harizen]

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

Exchange rates. It varies per exchange.

Converting to peso on coins.ph will be based on their current selling price. So even you send it on your coins.ph PHP wallet, they will just convert it based on their current Sell rates. No difference at all.

Alternatives? Try converting it instead on coins.pro.

EDIT:
Oh, you just tried out coins.ph? I think you can't access the coins.pro yet.

[blockman]

Mag register ka sa coins.pro kaso wait list ka after mo mag register.

Mas mataas ng konti yung rate ni coins.pro.

[darklus123]

If hindi ka nag mamadali mate ang lagi ko ginagawa is to wait if hot ba ang transactions during that time of the day. I personally will wait for a lesser transaction fee. Pero usuay sa btc ko pa tlga muna inilalagay.

Then mas better if you have a little trading knowledge go to coins.pro kasi mas malaki rates dun in converting your btc to php.

Summary ,
Blockchain -> coins btc wallet -> coins.pro btc wallet -> coins.pro php wallet -> coins php wallet

[clickoutsourcing]

For me the best way to transfer BTC to PHP is via GCash, lately ko lang nalaman to pero let me share to you know on how to do it.

1. If you happen to have your BTC on trading platform (Kucoin, Binance, Bittrex, etc), transfer it to your Coins.PH account
2. If na receive mo na sa Coins.PH account mo, then transfer your money to Gcash. 2% lang ang bawas, for example, if you will send 1000 there will be a fee of 20 Pesos for transferring your funds.
3. After, receiving it on Gcash which is almost instantly, transfer it then to your bank account using Gcash account. 0% po ang transfer fee from Gcash to your bank account which is nice. I use BPI, the transfer is almost instant also. That's it. Viola! You have you money on your bank account already.

In summary:
Trading Platform (Kucoin, Binance, Bittrex, etc) -> Coins.PH -> GCash -> Bank Account

In my opinion this is the most affordable and most convenient way to transfer money from BTC to PHP.

Hopefully, nakatulong to sa iyo.

[lebron99x]

Thanks for the replys. I don´t understand tagalog but i think the best way is what i choose here.
I joined coins ph because of there free withdrawal @ATM but this service is not available and no information for how long.

This might be the best way now, btc > coins btc wallet > coins ph > gcash
but for me not ideal. you get a bad price for the conversation + the 2% fee to gcash. at the end you have to pay about 4-6% (included conversation).

[Bttzed03]

I joined coins ph because of there free withdrawal @ATM but this service is not available and no information for how long.

Hey, have you read this article from coinsph? https://support.coins.ph/hc/en-us/articles/202398194-Which-cash-out-methods-are-available-

There are a lot of ATM cash out options.

This might be the best way now, btc > coins btc wallet > coins ph > gcash
but for me not ideal. you get a bad price for the conversation + the 2% fee to gcash. at the end you have to pay about 4-6% (included conversation).

Yes, Gcash rates is much higher compared to other options. It's what you get for the convenient and fast (most of the time) withdrawals but is only ideal for small amounts.

[mk4]

fix ba ung 0.5 XRP na fee? or dipende sa amount ng wiwithdrawhin? sige OP salamat sa idea, try ko to sa next payout ko, tapos mag update nalang ako kung mas malaki nga matitipid ko sa same amount na na withdraw ko dati.

Yes, fixed ung XRP withdrawal fee, pero based sa Binance[1], ang withdrawal fee ng XRP is 0.25 XRP, so mas makakamura ka.



Take note pero na may 0.1% trading fee ang Binance. So pag ang binabalak mo is convert BTC to XRP para mas mabilis at mura ang withdraw, calculate mo muna kung worth it nga ba magwithdraw sa ganitong paraan; dahil 0.1% sa trading fee. While mukhang maliit na numero lang yan, pwedeng malaki laki ang mababawas sayo dpende kung gaano kalaki ieexchange mo.

[1] https://www.binance.com/en/fee/schedule

[spadormie]

Thanks for the replys. I don´t understand tagalog but i think the best way is what i choose here.
I joined coins ph because of there free withdrawal @ATM but this service is not available and no information for how long.

This might be the best way now, btc > coins btc wallet > coins ph > gcash
but for me not ideal. you get a bad price for the conversation + the 2% fee to gcash. at the end you have to pay about 4-6% (included conversation).

You can always try to withdraw your funds using other cryptocurrencies to lessen the price of the fee. Anyway, if you think that it's quite bad for you to withdraw your money using gcash. Remember that there are many ways for you to withdraw it using other options. You can try LBC padala, with 2 valid IDs you can withdraw your money. Unlike with GCASH, you'll be charged for 2%. Let's do a math. Let's say you have a $450 = P23,550.

With GCASH, the fee is 471 php that's quite a bummer.
With LBC, the fee is only 120 php.
Or you can try sending it to your bank account with no fee at all. There were some banks that I tried months ago that has no fee. Goodluck!

[lebron99x]

@Bttzed03 Thank you. Not really a lot of ATM options, but there are some options to pay via coins.ph like phil airlines, shopee, traveloka and few coffee shops (manila).
i hope they add more alternatives and not only in manila.

@mjglqw
sorry mate but what do you mean in your post...sending xrp to coins ph xrp wallet and then convert to php is better?

@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?

[mk4]

@mjglqw
sorry mate but what do you mean in your post...sending xrp to coins ph xrp wallet and then convert to php is better?

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.

[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.