Summary of cash in/out limits of BSP approved Virtual Currency Exchanges

[Bttzed03]

Medyo bored kaya naisipan ko na lang gumawa ng table/summary, may you find it useful  

For a list of live and under development crypto exchanges with BSP approved VCEs, check it here



COINSPRO

                                                                                             CASH OUT                                                           CASH IN                              

Tier	Requirements		Daily	Monthly	Annual		Daily	Monthly	Annual
_____	_______________________________		____________	____________	____________		____________	____________	____________
1	Email and Phone verified		-	-	-		No limit	No limit	No limit
2	ID and selfie verified		xxx	250,000	xxx		No limit	No limit	No limit
3	Address verified		500,000	15,000,000	xxx		No limit	No limit	No limit
4	Custom verified		above 500,000	xxx	xxx		No limit	No limit	No limit

NOTE:

• For business purposes, still no limit for deposits but withdrawal limits is determined on a per client basis
• Cash ins and cash outs using the Coins.ph PHP wallet will count towards your Coins.ph limits.

PDAX

                                                                                             CASH OUT                                                           CASH IN                              

Tier	Requirements		Daily	Monthly	Annual		Daily	Monthly	Annual
_____	_______________________________		____________	____________	____________		____________	____________	____________
0	Email and phone verified		-	-	-		1,000	3,000	5,000
1	ID and selfie verified		1,000	3,000	5,000		1,000	3,000	5,000
2	Address verified		50,000	150,000	500,000		50,000	150,000	500,000
3	Source of income verified		100,000	400,000	3,000,000		100,000	400,000	3,000,000
4	Faced-to-face verified		No limit	No limit	No limit		No limit	No limit	No limit

NOTE:

Your cash transaction limit for a specific period refers to the total amount of both your cash-in and cash-out transactions made during that time. This means that if you’re in Tier 0 and cashed in PHP 1,000 in a single day, you’ve already maxed out your daily cash transaction limit. As a result, you will no longer be able to cash out or withdraw funds from your PDAX account within the same day and will have to wait 24 hours for your daily limit to refresh again. The same applies to the succeeding tiers and limits.

VHCEX

                                                                                             CASH OUT                                                           CASH IN                              

Tier	Requirements		Daily (USD)	Monthly (USD)	Annual (USD)		Daily	Monthly	Annual
_____	_______________________________		____________	____________	____________		____________	____________	____________
0	Email verified		-	-	-		no limit	no limit	no limit
1	ID and address verified		xxx	50,000	xxx		no limit	no limit	no limit
2			xxx	100,000	xxx		no limit	no limit	no limit

Note:

• Withdrawal limited total are cumulative of both fiat and cryptocurrency.
• Withdrawal limit for tiers 1 and 2 resets every month.
• If anyone has done Tier 2 verification, please comment the type of documents you submitted.

BUYBITCOINPH (Rebittance)

                                                                                             CASH OUT                                                           CASH IN                              

Tier	Requirements		Daily (BTC)	Monthly (BTC)	Annual (BTC)		Daily (BTC)	Monthly (BTC)	Annual (BTC)
_____	_______________________________		____________	____________	____________		____________	____________	____________
1	Phone and email verified		-	-	-		-	-	-
2	ID and personal information verified		0.19728146	xxx	xxx		0.18446781	xxx	xxx
3	Address and source of income verified		0.98640731	xxx	xxx		0.92317350	xxx	xxx

NOTE:

• Cash in and out limits changes everyday depending on the value of bitcoin
• RebitPH and BitbitCash are both products of BuybitcoinPH
• Buying and selling limits is different from cash in/out but it also depends on your KYC level verification

RESERVED FOR UPCOMING EXCHANGES

                                                                                             CASH OUT                                                           CASH IN                              

Tier	Requirements		Daily	Monthly	Annual		Daily	Monthly	Annual
_____	_______________________________		____________	____________	____________		____________	____________	____________
xxx	xxx		xxx	xxx	xxx		xxx	xxx	xxx
xxx	xxx		xxx	xxx	xxx		xxx	xxx	xxx
xxx	xxx		xxx	xxx	xxx		xxx	xxx	xxx
xxx	xxx		xxx	xxx	xxx		xxx	xxx	xxx

As pointed out by @inthelongrun, magkaiba ang limits ni coinsph at coinspro kaya hiniwalay ko na lang sila.

COINSPH

                                                                                             CASH OUT                                                           CASH IN                              

Tier	Requirements		Daily	Monthly	Annual		Daily	Monthly	Annual
_____	_______________________________		____________	____________	____________		____________	____________	____________
1	Email/Phone verified		-	-	-		2,000	50,000	50,000
2	ID and selfie verified		50,000	250,000	400,000		50,000	100,000	400,000
3	Address verified		400,000	No limit	No limit		400,000	400,000	No limit
4	Custom verified		Custom	5,000,000	Custom		Custom	5,000,000	Custom

NOTE:
For those interested in custom deposits and withdrawals, you can apply here


Per request, isasama ko na din transaction limits ni Abra (globally) kahit hindi siya kasama sa BSP approved exchanges. Isa din naman sa sikat na crypto app dito sa Pinas. No tiers.

ABRA

Method of Transaction	Daily (USD)	Monthly (USD)	Annual (USD)
___________________________________________	___________________	___________________	___________________
US bank wires	500-40,000 per wire	-	-
Bank deposits & withdrawals (rolling cycle)	2,000-4,000	4,000-8,000	8,000-16,000
Credit card deposits (rolling cycle) - AMEX	200	1,000	-
Teller deposits & withdrawals	check w/ teller	check w/ teller	check w/ teller
Crypto deposits & withdrawals	No limit	No limit	No limit

NOTE:

Bank regulations may supersede Abra's limits: please check with your financial institution.

[bitcoin31]

Nice thread kabayan, dahil dito magkakaroon ng Idea ang mga iba na hindi pa nila alam kung magkano ang pwede nilang icash in o icashout kapag gumamit sila ng wallet lalo na ang coins.ph . Naalala ko pa noon kahit hindi need ng selfie verification ID sa coins.ph pero ngayon naghigpit na sila. Sana next makapag update ka pa na iba na bsp approve din kung mayroon.

[dothebeats]

Been a customer of coins.ph since 2014. Napaka-ayos lang talaga ng flow ng service nila at napakaraming embedded na retailers/outlets na pwedeng paggamitan ng bitcoin mo kung ayaw mo i-cash out. Naka-custom limit din ako sa kanila when it comes to deposit and cash-outs. Since the process of in-depth KYC started in late 2017, napaalam nila agad sa ating mga users kung ano ang kailangang gawin at kung ano ang mga requirements. Walk-in ko kinumpleto lahat ng kanilang mga requirements at within 3 business days, natapos ang proseso at Level 4 verified ako. Hindi ako umaabot sa pagte-trade ng ganun kalaking halaga pero kampante naman ako sa pagbigay ng detalye sa kanila.

[chaser15]

Nice effort sa pag-compile and sana mas humaba pa ang list in the future. Although dapat tulungan ang lahat lalo na't baka magkaroon ng update at di naman maisa-isa ni OP yan icheck regularly.

Di ako familiar dun sa pangatlong exchanges na nakalista. Isa ba yan recently approved or kasama na yan dun sa mga dati pang approved? Kung kasama yan dun sa dati, medyo poor ang marketing pero kung yan ay iyong bago, sana magpush sila makilala.

[GreatArkansas]

Ask ako about sa Abra, kasi naka subok na din ako gumamit nito dati, nakasubok bumili ng Bitcoin at mag withdraw ng PHP dito via bank accounts.
Hindi ba sila BSP approved ang Abra?
Nung nagkatransaction ako sa Abra, walang KYC na ako pinagdaanan o di na nila ako hiningan ng any documents.

Kasi nakikita ko sa isang article ng Abra, ang sabi "Properly registered with the SEC Philippines"

Yes, Abra operates locally in the Philippines, and is properly registered with the SEC Philippines and other relevant entities as PLUTUS TECHNOLOGIES PHILIPPINES CORPORATION.

Pwede kaya isali ang Abra sa list sa first post?

[Bttzed03]

Hindi ba sila BSP approved ang Abra?

Hindi siya registered under BSP. Wala din siya sa exchanges licensed by CEZA.

Pwede kaya isali ang Abra sa list sa first post?

Iba ang transaction limits ni Abra pero isama ko siguro sa dulo.
Edit: Done

Di ako familiar dun sa pangatlong exchanges na nakalista. Isa ba yan recently approved or kasama na yan dun sa mga dati pang approved? Kung kasama yan dun sa dati, medyo poor ang marketing pero kung yan ay iyong bago, sana magpush sila makilala.

Nauna pang naaprubahan ang VHCEX kesa sa PDAX. May kahinaan nga marketing nila dito siguro dahil na din sa expansion sila sa Pinas.

[Clark05]

Been a customer of coins.ph since 2014. Napaka-ayos lang talaga ng flow ng service nila at napakaraming embedded na retailers/outlets na pwedeng paggamitan ng bitcoin mo kung ayaw mo i-cash out. Naka-custom limit din ako sa kanila when it comes to deposit and cash-outs. Since the process of in-depth KYC started in late 2017, napaalam nila agad sa ating mga users kung ano ang kailangang gawin at kung ano ang mga requirements. Walk-in ko kinumpleto lahat ng kanilang mga requirements at within 3 business days, natapos ang proseso at Level 4 verified ako. Hindi ako umaabot sa pagte-trade ng ganun kalaking halaga pero kampante naman ako sa pagbigay ng detalye sa kanila.

Even kahit ako naman ako ayokong binibigay ang details ko sa iba pero ang kinagandahan sa coins.ph alam ko na secure ang information ng user sa kanila kaya ginawa ko nagpaverified narin ako. At yun nga lang verified level 2 lang ako kasi maliit lang naman cashout ko.  Siguro kabayan napakalaki ng cashout mo daily or monthly dahil nagpaverified ka na ng level 4 na talaga namang mahirap ireach dahil kung minsan aasikasuhin mo talaga yung documents.

[crwth]

Marami na palang mga exchange na nag sisimula dito sa Philippines. It's good that there would be more competitive benefits when using a specific exchange, etc. I think we don't want monopolization and no more feeling of taking advantage of everyone.

Hindi ako familiar with PDAX and VHCEX. Chineck ko both yung site, yung PDAX, upon checking, on beta pa din pala. Lahat ata ng mga Bitcoin exchange dito sa Philippines ay on beta pa. Pero naiintindihan ko kasi baka marami pang fixes na kailangan gawin para maging maayos yung mismong exchange. Both exchanges have good UI and feeling ko magiging maganda naman ang result. Napansin ko lang sa VHCEX ay meron silang Telegram Group tapos madami na din pala yung members nila kahit papano kasi 1500+ members na yung dun sa Telegram.

Thank you for compiling this one, at least makakatulong 'to sa mga hindi aware on what exchanges are there lalo na yung verified and licensed. Personal protection and Security kasi ang makaka attract din sa mga tao para i-trust yung website/service.

Note: I think it's better to put coins.ph as coins.pro kasi yun yung exchange nila and coins.ph is a service type of application, like Abra. Both Wallet service ang tingin ko kasi sakanila.

[Darker45]

Nice initiative, OP!

I don't know kung familiar kayo sa rebit.ph. I've known certain Pinoy crypto traders and supporters na gumagamit nito. I haven't tried their services yet pero existing na rin to for quite a while na. Maaari nyo tong isama sa options nyo. Baka na-max nyo na ang limit nyo sa other accounts nyo, o di kaya under maintenance ang ibang accounts, etc, you may use it as alternative. 

For more info, you may check their website: https://rebit.ph/

[Bttzed03]

~snip

Live trading na ang PDAX, ito yung direct registration link https://accounts.pdax.ph/register
Edited na din yung coinsph salamat sa suggestion.

~snip

Ang pagkakaalam ko kay rebit is hindi siya talaga live trading unlike sa mga unang tatlong nabanggit sa OP. Bale, hanggang conversion lang. Ilagay ko na din siguro sa dulo kasunod ng Abra.

[crwth]

Live trading na ang PDAX, ito yung direct registration link https://accounts.pdax.ph/register

Sakin lumalabas pa din na link is https://beta.pdax.ph/trade. Will try to register on that link.

Sinearch ko through Google, ganun pa din ang lumabas. Ang iniisip ko is like coins.pro na parang may waitlist pa etc. Based dun sa beta.pdax.ph na link, may waitlist din. Pero nakapag register na ko, update ko kayo if ever.

[Darker45]

~snip

Ang pagkakaalam ko kay rebit is hindi siya talaga live trading unlike sa mga unang tatlong nabanggit sa OP. Bale, hanggang conversion lang. Ilagay ko na din siguro sa dulo kasunod ng Abra.

Speaking of "live trading", supposing ito yung trading na gagawa ka ng buy and sell orders with bid and ask prices as compared sa "conversion" lang, do you happen to have the copy or link of the license or approval sa mga trading sites na ito kung saan nakasaad ang ganitong uri ng business?

Sa pagkakaalam ko kasi hindi "live trading" ang tinutukoy ng BSP sa salitang "exchange". They are referring to "conversion." Baka may nagbago kasi 2017 pa yung BSP Circular eh, maganda sana kung makita natin yung mismong policy or law na nag-aallow sa mga ganitong exchanges. Baka sakaling sumabit sila rito eh.

Please refer to this old post of mine.

It is worth noting that when we speak of Currency Exchange here, it does not refer to the likes of Binance, Bittrex, HitBTC, etc. Kasi madalas pag pinag-uusapan natin ang exchange o exchange platform, marahil naiisip kaagad natin yung parang trading kung saan gagawa ka ng buy and sell order. Hindi nag-iissue ang BSP ng permit o license sa mga ganitong exchanges. Yung exchange na tinutukoy dito ay yung parang money exchange lang o conversion from fiat to crypto o crypto to fiat.

Kung kaya't ang license na binibigay ng BSP sa mga exchanges na ito ay para sa kanilang operasyon bilang remittance o transfer business lamang.

Please take a while to read the full circular of BSP regarding virtual currency exchanges sa Pilipinas.

 

[chaser15]

More on being "Remittance" yata ang Rebit unlike sa usual exchange service.

Walang account tier as long as maprocess succesffuly ni sender iyong ipapadala as remittance money.

Parang Western Union but has a feature of converting directly their crypto as payment money na ipapadala kahit saan.

Correct me na lang if I'm wrong.

[Bttzed03]

Live trading na ang PDAX, ito yung direct registration link https://accounts.pdax.ph/register

Sakin lumalabas pa din na link is https://beta.pdax.ph/trade. Will try to register on that link.

Sinearch ko through Google, ganun pa din ang lumabas. Ang iniisip ko is like coins.pro na parang may waitlist pa etc. Based dun sa beta.pdax.ph na link, may waitlist din. Pero nakapag register na ko, update ko kayo if ever.

Yes, sa "beta" website ka ma-redirect once mag-signup. May email at phone verification yan, Huwag ka dun sa waitlist mag-register kagaya ng unang ginawa ni @greatarkansas  

~snip

~snip

Speaking of "live trading", supposing ito yung trading na gagawa ka ng buy and sell orders with bid and ask prices as compared sa "conversion" lang, do you happen to have the copy or link of the license or approval sa mga trading sites na ito kung saan nakasaad ang ganitong uri ng business?

Sa pagkakaalam ko kasi hindi "live trading" ang tinutukoy ng BSP sa salitang "exchange". They are referring to "conversion." Baka may nagbago kasi 2017 pa yung BSP Circular eh, maganda sana kung makita natin yung mismong policy or law na nag-aallow sa mga ganitong exchanges. Baka sakaling sumabit sila rito eh.

Please refer to this old post of mine.

It is worth noting that when we speak of Currency Exchange here, it does not refer to the likes of Binance, Bittrex, HitBTC, etc. Kasi madalas pag pinag-uusapan natin ang exchange o exchange platform, marahil naiisip kaagad natin yung parang trading kung saan gagawa ka ng buy and sell order. Hindi nag-iissue ang BSP ng permit o license sa mga ganitong exchanges. Yung exchange na tinutukoy dito ay yung parang money exchange lang o conversion from fiat to crypto o crypto to fiat.

Kung kaya't ang license na binibigay ng BSP sa mga exchanges na ito ay para sa kanilang operasyon bilang remittance o transfer business lamang.

Please take a while to read the full circular of BSP regarding virtual currency exchanges sa Pilipinas.

Magandang point for discussion yan

BSP regulation states that "VC exchange service refers to the conversion or exchange of fiat currency or other value into VC, or the conversion or exchange of VC into fiat currency or other value;". It did not specifically mention na bawal ang order-book style na palitan at iyan siguro ang nakita ng kagaya ni Coinspro na "butas". End of the day, converted pa din from VC to fiat. Binigyan lang nila mga users ng option to convert or exchange at a "flexible" rate.  

Now that you brought it up, I wonder kung na-consult na ba nila ang BSP bago mag-launch o kung aware na ang BSP sa mga launched exhanges. Iniisip ko na din kung ano ang mas appropriate title.

[jeraldskie11]

Ngayon ko lang nalaman na may iba pa palang local exchanges maliban sa Coinsph dahil sa post na to. At tsaka may summary pa, malalaman kaagad natin kung maganda ba gumamit sa exchanges na yan kasi nilagay mo yung cash in/out limits at ibang importanting mga detalyi sa local exchanges na yan.

[Darker45]

Magandang point for discussion yan

BSP regulation states that "VC exchange service refers to the conversion or exchange of fiat currency or other value into VC, or the conversion or exchange of VC into fiat currency or other value;". It did not specifically mention na bawal ang order-book style na palitan at iyan siguro ang nakita ng kagaya ni Coinspro na "butas". End of the day, converted pa din from VC to fiat. Binigyan lang nila mga users ng option to convert or exchange at a "flexible" rate. 

Now that you brought it up, I wonder kung na-consult na ba nila ang BSP bago mag-launch o kung aware na ang BSP sa mga launched exhanges. Iniisip ko na din kung ano ang mas appropriate title.

Medyo iba kasi ang pagkakaintindi ko dito sa mga linyang ito:

...the BSP aims to regulate VCs when used for delivery of
financial services, particularly, for payments and remittances...

...they are considered similar to remittance and transfer companies, as
provided for under Section 3 in relation to Section 11...

It noted that the BSP’s Virtual Currency Exchange (VCE) license does not include acting as a trading platform but is more on crypto to fiat transactions.^[1]

For the sake of clarifying things lang tong sa akin. Malamang ang mga trading platforms natin dito ay may paliwanag naman tungkol sa mga provisions na ito sa BSP Circular.

[1] https://bitpinas.com/cryptocurrency/list-cryptocurrency-exchanges-philippines/#state_of_cryptocurrencies_in_the_philippines

[Bttzed03]

This is what I got after further reading: Sa tingin ko BSP does not cover order-book style conversion of fiat to VC (vice versa) at mukhang sinadya na parang-remittance style lang talaga. Since may mga demand sa exchange na may live trading, dito na pumasok ang SEC para punan yun.

The SEC released the draft rules for Digital Asset Exchange (DAE) last July 2019 and they've allowed exchanges to submit comments on the proposed rules. Sa ngayon naghihintay na lang tayo ng official rules from them.

Here's how they define DAE:

What is a digital asset exchange (DAE)?
An organized marketplace or facility that brings together the buyers and sellers and executes trades of securities. This includes buying/selling digital assets with fiat (fiat/digital asset pairing) as well as buying/selling digital assets with other digital assets (digital asset/digital asset pairing). They can be viewed as an online marketplace for the entire Digital Asset network.

To summarize (my opinion):
BSP will issue licenses to VCEs at kung gusto nila (VCEs) maging DAE, kailangan nila ng SEC approval. Yung mga live na palitan ngayon ay kukuha na lang ng karagdagang lisensya from SEC.
 

[crwth]

Yes, sa "beta" website ka ma-redirect once mag-signup. May email at phone verification yan, Huwag ka dun sa waitlist mag-register kagaya ng unang ginawa ni @greatarkansas  

Ayun nga, so nag hihintay pa ko ng confirmation na pwede na din mag deposit. Have you had good experience din diyan sa exchange na yan? Feeling ko sa graphics palang niya, okay na siya. Thank you sa information about kay GreatArkansas

[rosezionjohn]

Ayun nga, so nag hihintay pa ko ng confirmation na pwede na din mag deposit.

Anong confirmation ang hinihintay? Kasama na sa sign up yung email at mobile verification. Under tier 0 ka once naka-successful sign up at alam ko pwede na agad mag-deposito ng 1K per day ayon sa table sa OP. Pagdating naman sa withdrawal, kailangan naman maka-tier 1 verification ka at ang processing ay inaabot ng 1 to 2 business days.

[mcnocon2]

Been a customer of coins.ph since 2014. Napaka-ayos lang talaga ng flow ng service nila at napakaraming embedded na retailers/outlets na pwedeng paggamitan ng bitcoin mo kung ayaw mo i-cash out. Naka-custom limit din ako sa kanila when it comes to deposit and cash-outs. Since the process of in-depth KYC started in late 2017, napaalam nila agad sa ating mga users kung ano ang kailangang gawin at kung ano ang mga requirements. Walk-in ko kinumpleto lahat ng kanilang mga requirements at within 3 business days, natapos ang proseso at Level 4 verified ako. Hindi ako umaabot sa pagte-trade ng ganun kalaking halaga pero kampante naman ako sa pagbigay ng detalye sa kanila.

Same here, I've been using coins.ph since natuto akong magcrypto at so far wala naman akong bad experience na nakuha sa kanya hindi katulad ng mga reviews ng ibang users sa facebook. And nakikita ko lang problema sa coins.ph ay hindi active yung live chat support nila na dapat ay ora mismo nakarespond na agad pero hindi minsan tumatagal pa ng 2-3 oras.