More Bitcoin = AMLA Red Flag?

[Johnyz]

Now that bitcoin is pumping again, napapaisip lang ako if we are still safe to have more bitcoin.

I'm just thinking what if I have 10 bitcoin and I'm just a service crew in a fast food chain, since milyonaryo na ako in terms of the value of bitcoin napapaisip lang ako kung paano ko ito maeenjoy yung perang pinaghirapan ko.

Do you think its easy to convert that 10 bitcoin to fiat money and put it on a bank? or
AMLA will freeze your account because its very suspicious and put your money on risk?

I'm sure marame sa atin ang maraming bitcoin na hawak, so share your thoughts about this.

[sheenshane]

If you have that huge amount of Bitcoin pwedi mo naman yan convert to fiat and split for how many times. Huwag mong pagsabayin ng withdraw in just one day. There are too many ways na pwedi mo ma withdraw yung money mo na paunti-unti kasi talagang malalagay yung bank account mo in risk kapag direct mo deposit doon(Lalo na pag sinabi mong galing sa crypto yung money talagang ma pe-freeze yan). The best advice is maghanap ka kaibigan mo na malapit sayo na may mga malalaking transactions in the bank tapos transfer mo sa kanilang account yung money mo and sila yung mag withdraw para sayo.

[samcrypto]

I’m also thinking how to liquidate my bitcoin if the price hits $20K per bitcoin again. Its hard to trust the bank if you don’t have enough source of income.

My suggestion is that, quit your job and do your own business. Sa halagang P200k magkakaron kana ng business, and paunti-unti withdraw ka ng pera at ilagay mo sa bank at least dito you have a legal business which can give you profit. Do it within a year, wag isang bagsakan. Mas ok kung lagpas isang taon mo sya kukunin, for now put your bitcoin on a safe wallet.

[meanwords]

I’m also thinking how to liquidate my bitcoin if the price hits $20K per bitcoin again. Its hard to trust the bank if you don’t have enough source of income.

My suggestion is that, quit your job and do your own business. Sa halagang P200k magkakaron kana ng business, and paunti-unti withdraw ka ng pera at ilagay mo sa bank at least dito you have a legal business which can give you profit. Do it within a year, wag isang bagsakan. Mas ok kung lagpas isang taon mo sya kukunin, for now put your bitcoin on a safe wallet.

Medyo okay nga itong suggestion nato. This way hindi na masyadong que-questionin ng Bank kung saan nang-gagaling yung kita mo. May kaibigan akong kumikita ng malaki dito sa cryptocurrency at sabi niya na pwede naman daw mag-labas ng 200k sa coins.ph. Hindi naman daw siya tinatanong. Siguro kung ganon kalaking halaga ang ilalabas mo kung sakaling tumaas pa ang Bitcoin, pwedeng-pwede ka mag withdraw kaso matagal nga lang.

[NavI_027]

Do you think its easy to convert that 10 bitcoin to fiat money and put it on a bank? or
AMLA will freeze your account because its very suspicious and put your money on risk?

Don't be scared if you are not doing anything wrong. Bakit naman nila ififreeze account mo ng walang dahilan, right? Yeah! Medyo kahina hinala nga na may malaki kang bitcoin holdings but it's not a valid reason for them to do such thing. May process dapat na sinusunod yun and if ever kailangan imbestigahan kung saan galing ang sources ng funds mo then so be it. Nothing to worry about as long as galing sa malinis na paraan ang pera mo.

Pero kung hindi ka pa rin panatag, mas mainam kung pakonti konti lang ang pag convert sa peso (like what they've said).

[Muzika]

Hindi mo naman ilalabas yan as one time kumbaga kapag need mo ng pera ilalabas mo certain amount pero since makikita yan you better have another account pwedeng sa pinagtitiwalaang miyembro ng pamilya mo kasi base sa mga nakikita ko kapag may mga malalaking transaction hinihingan ng further documents na magpapatunay sa mga perang pumasok o umiikot sayo.

[rosezionjohn]

Do you think its easy to convert that 10 bitcoin to fiat money and put it on a bank? or
AMLA will freeze your account because its very suspicious and put your money on risk?

Take note na hindi naman bawal ang pag-invest at pag-trade ng bitcoin dito sa Pinas. Kailangan mo lang maging transparent kung paano mo nakuha at kumpletuhin mo din KYC sa mga palitan. Sang-ayon din yung mungkahi ng iba na huwag i-convert at deposit sa bangko ng isang bagsakan. Kapag Php 500,000 and above deposits ay mapapasama ka na sa radar ng AMLA, siguro 200K per month pwede na.  

[bisdak40]

Do you think its easy to convert that 10 bitcoin to fiat money and put it on a bank? or
AMLA will freeze your account because its very suspicious and put your money on risk?

Wow naman, napakagandang problema nito kung magkakaganito ako.
For me, as an ordinary citizen of the Republic hindi ko bibiglain na i-convert yong 10 BTC into fiat since mahahalat ka talaga ng COins.ph and maybe your account will be freeze at kung wala ka namang natinong trabaho to justify where you got your funds, laking problema noon. Unti-untiin mo lang siguro sa pag convert and the convert to stable coins the remaining BTC's that you have and i you really need of large sum of money then ask a friend na may matinong trabaho para siya na ang mag-withdraw para sa iyo.

[rhomelmabini]

Now that bitcoin is pumping again, napapaisip lang ako if we are still safe to have more bitcoin.

Sa palagay ko safe naman just secure your accounts, passwords or your private keys where you store your assets, be anonymous as well especially sa coins.ph as if you're verified there are instances na nakikita yung mukha especially kung verified user ka.

I'm just thinking what if I have 10 bitcoin and I'm just a service crew in a fast food chain, since milyonaryo na ako in terms of the value of bitcoin napapaisip lang ako kung paano ko ito maeenjoy yung perang pinaghirapan ko.

There are ways kung paano mo ma enjoy yan, just know yourself muna kung ano man yung bagay na mag-eenjoy ka not just withdrawing it na wala sa plano. Just leave that SC job and start a business na have a low capital that way ma recognize ng bangko kung saan nanggagaling yung pera mo.

Do you think its easy to convert that 10 bitcoin to fiat money and put it on a bank? or
AMLA will freeze your account because its very suspicious and put your money on risk?

I'm sure marame sa atin ang maraming bitcoin na hawak, so share your thoughts about this.

It's not that easy, possible talaga na ma freeze yan, at why mind put it on the bank when you are your own bank by using bitcoin? Better na pakonte-konte nalang gawin mo na pag-withdraw if ever yan man ang balak mo, it's way safer and low risk involved. If you really want risk better na sa business mo ipunla rather put it in a bank with very small interest per year (or whatever you prefer the way of depositing it), a business that accepts bitcoin as well.

[mk4]

Tingin ko very likely na iffreeze nga siguro nila account mo for a while, or maybe baka tatawagan ka lang nila at tatanungin ka saan galing ung funds mo. Regardless, hindi ako sure kung paano ang taxes concerning bitcoin and cryptocurrencies, pero baka itatax ka. Just my guess.

Kelangan mo ba talaga perong kunin lahat in one go? Mas safe ung gradual na pakonti konti kung gusto mo mag stay under the radar.

[Bttzed03]

Do you think its easy to convert that 10 bitcoin to fiat money and put it on a bank? or
AMLA will freeze your account because its very suspicious and put your money on risk?

Kung bigla ka ba naman mag-deposito ng milyones tapos mga previous deposits mo ay mga 5-figures lang dati, talagang malaki tyansa ma-subject sa imbestigasyon yung account mo.

Regardless, hindi ako sure kung paano ang taxes concerning bitcoin and cryptocurrencies, pero baka itatax ka. Just my guess.

Ibang government agency na may hawak nito pero yes, magbabayad nga talaga ng tax. Hindi pa din clear sa akin kung anong classification ng BTC. Will it be considered as securities, property, kagaya ng stocks, etc.

[goaldigger]

Sa sobrang higpit ng mga bangko ngayon, tiyak na malalagay ka sa alanganin kung sakaling i withdraw mo lahat ng pera mo ng biglaan. Tiyak na ma kukwestyon ka at baka hindi lang pagka freeze ng account ang abutin mo. Lalo na kung ignorante pa sa cryptocurrency ang mag iimbestiga sayo, tiyak na hindi maganda ang kalalagyan mo. Di naman lingid sa kaalaman natin na scam padin ang turing ng iba sa bitcoin dito sa pinas kaya'tmas magandang maingat at magsave ng ebidensya kung saka sakali.

[dark08]

Kung talagang dumating sa punto na marami kang bitcoin na hawak at mataas pa ang value nito wag kang mag withdraw ng maramihan ang gawin mo isalin mo split mo into kung ilan member kayo sa bahay sa ganun hindi mahahalata kasi kung higlaan ang pag withdraw mo tapos sa bangko pa talagang mahahalata iyan at ifreeze ang account mo.

[samputin]

Kapag Php 500,000 and above deposits ay mapapasama ka na sa radar ng AMLA, siguro 200K per month pwede na.

Parang ang laki pa rin nung P200k (IMHO). But here's what I observed na ginagawa ng mga kakilala ko na may malaking btc kinikita. They withdraw just P50k per month at guess what? No need for banks to cash out dahil cebuana lhuiller lang sapat na . Less paper works and more covenient pa nga kung tutuusin, what I'm not sure is about the fee (kung significant ba ang mababawas compare to bank withdrawal).

[Darker45]

Kapag Php 500,000 and above deposits ay mapapasama ka na sa radar ng AMLA, siguro 200K per month pwede na.

Parang ang laki pa rin nung P200k (IMHO). But here's what I observed na ginagawa ng mga kakilala ko na may malaking btc kinikita. They withdraw just P50k per month at guess what? No need for banks to cash out dahil cebuana lhuiller lang sapat na . Less paper works and more covenient pa nga kung tutuusin, what I'm not sure is about the fee (kung significant ba ang mababawas compare to bank withdrawal).

I'm using coins.ph to banks, walang fee, at least BPI, Eastwest, and Landbank. I am not sure with other banks.

Sa tingin ko PHP 200,000 okay lang yan for as long as hindi sya sunod-sunod in a matter of few days tapos ang accumulated deposits ay hindi naman aabot ng milyones. Tsaka kung talagang medyo nagmamadali, scatter withdrawals through different banks and accounts, remittance centers, and through P2P. Mabilis na lang yan.

[Rufsilf]

If you have that huge amount of Bitcoin pwedi mo naman yan convert to fiat and split for how many times. Huwag mong pagsabayin ng withdraw in just one day. There are too many ways na pwedi mo ma withdraw yung money mo na paunti-unti kasi talagang malalagay yung bank account mo in risk kapag direct mo deposit doon(Lalo na pag sinabi mong galing sa crypto yung money talagang ma pe-freeze yan). The best advice is maghanap ka kaibigan mo na malapit sayo na may mga malalaking transactions in the bank tapos transfer mo sa kanilang account yung money mo and sila yung mag withdraw para sayo.

Correct hwag mo sya e convert in one go kasi for sure ma question ka mas better na e convert or cast out mo sya in many batches para hindi ka ma flag at iwas sa hassle ng bank sa mga review. Okay din naman na e deposit sa friends account but it’s money no matter how close kayo ng friend na yan bka masilaw lang din yan sa pera at baka hindi ikaw makinabang.

[jhonjhon]

pag mangyari man yan na may 10 bitcoin ka.. wag mo e diritso sa bank ang lahat ng pera mo talagang magduda sila sayo... mas mabuti unti-unti mo siyang kunin mga 50k pesos, ok na siguro yun mag eenjoy kana niyan sa pangshopping mo o kaya pang inum mo ng jack daniels kung isa kang lassingero hehe.

Agree ako, mas okay talaga na paunti unti kasi magtataka talaga ang bank kung may biglang malaking deposit sa account baka mahirapan ka lang mag withdraw tas minsan ang banko mabagal mag process ng kung ano ano at baka nka ilang balik kana sa branch di pa resolve or kaya di pa tapos ang validation. Kung meron ka madami bank account pwde mo din e cash out sa iba’t ibang account mo.

[mk4]

Parang ang laki pa rin nung P200k (IMHO). But here's what I observed na ginagawa ng mga kakilala ko na may malaking btc kinikita. They withdraw just P50k per month at guess what? No need for banks to cash out dahil cebuana lhuiller lang sapat na . Less paper works and more covenient pa nga kung tutuusin, what I'm not sure is about the fee (kung significant ba ang mababawas compare to bank withdrawal).

Mas safer ito, pero definitely wag abusuhin. Take note na hawak parin ng Cebuana Lhuiller ang personal information at withdrawal/deposit history nung tao. Kung talagang ginusto man na talagang i-inspect ng gobyerno ang isang tao(though unlikely unless sobrang daming pera ang pinag uusapan, possibility parin), pwedeng pwede nilang halungkatin itong mga money transfer services(including services like Coins.ph). Better safe than sorry.

[Clark05]

Kung may ganyang kalaking amount ng bitcoin maaari mo itong hati-hatian ng sagayon ay hindi nila mafreeze ang account mo may mga ibang way na maaari mong gamitin pwede mo rin ipacashout sa ibang kakilala mo at maganda kung sa remittances mo icacashout at pagkakuha mo na lang ng pera doon mo na lang ipasok sa banko.

Wala pa kasi akong nahahawakang ganyang klakong pera sa ngayom pero if ever na magkaroon din ako ng ganyan hindi ko icacashout yan ng isang biglaan dahil masyadong risky baka kung ano pang mangyari sa pera ko alam natin na supoorted ito ng BSP pero iba pa rin ang nag-iingat para iwas question na rin.

[Johnyz]

Mukang hinde talaga safe kung withdrawhin lahat ng bitcoin if ever, now alam na naten kung ano ang gagawin if we have a lot of bitcoin and gusto natin itong makuha.

My suggestion is that, quit your job and do your own business. Sa halagang P200k magkakaron kana ng business, and paunti-unti withdraw ka ng pera at ilagay mo sa bank at least dito you have a legal business which can give you profit. Do it within a year, wag isang bagsakan. Mas ok kung lagpas isang taon mo sya kukunin, for now put your bitcoin on a safe wallet.

Ito ang best option so far kase pag may business ka naman na hinde na masyadong mabusisi ang bangko as long as you have income on that business. Thanks mate for sharing this tips, though wala pa naman ako gantong kalaking pera pero hopefully in the future.

Sa sobrang higpit ng mga bangko ngayon, tiyak na malalagay ka sa alanganin kung sakaling i withdraw mo lahat ng pera mo ng biglaan. Tiyak na ma kukwestyon ka at baka hindi lang pagka freeze ng account ang abutin mo. Lalo na kung ignorante pa sa cryptocurrency ang mag iimbestiga sayo, tiyak na hindi maganda ang kalalagyan mo. Di naman lingid sa kaalaman natin na scam padin ang turing ng iba sa bitcoin dito sa pinas kaya'tmas magandang maingat at magsave ng ebidensya kung saka sakali.

Tama ka mate, regulation talaga siguro ang need naten para mas safe natin makuha ng pera naten. Nakakatakot lang din kase kapag after 2 years naging 1million up na yung pera mo sa bank tapos service crew ka paren.