Pahinge ng Payo tungkol sa Conversion ng Bitcoin to Philippine Peso (Large Sums)

[Theb]

I'm intending to convert some of my Bitcoin sa ating Philippine Peso and usually ang ginagawa ko lang madalas is through Coins.ph App to my Bank Account and ang current limit ko lang is ₱400,000 dahil na rin na kailangan pang i-convert ang BTC to PHP at hindi sapat ito. Pwede ko rin naman mag-request ng custom level pero pangit rin ang rates ng Coins.ph kaya naghahanap ako ng ibang way para mag-liquidate ng Bitcoin. Other options I see is localbitcoins pero wala pa akong masyadong experience dito involving large quantities of Bitcoin (sharing your experience would be greatly appreciated).

Thread Rule: please post accordingly by your own personal experience

[Maus0728]

May kakilala kasi ako personally when it comes to trading BTC to PHP sa P2P Trading ng Binance kaya matagal na akong hindi gumagamit ng coins.ph simula nung naimplement yung P2P exchange. The good thing is halos hindi mo mararamdaman yung exchange fee kasi 50-100 PHP lang sa total traded amount yung mababawas.

Approximately, nakapag trade na ako ng total of 150k to 200k sa kanya with an interval of 1 - 2 months per small  trade. Also, ang gamit ko lang ay Gcash for receiving PHP kaso maliit lang din ung monthly incoming limit; nasa 100k per month lang. Mas okay siguro kung by batch mong gagawin yung pagbenta mo kasi ang tendency mabilis mare-reach yung limit ng account mo.

Edit: Or if you have Gcash, pwede mo pang i-link yung Bank Account or Debit Card mo para magkaroon ka ng 500k monthly incoming limit. Goods na yun if you are cashing out millions of pesos. Note that walang daily limit ang gcash for receiving.

[goaldigger]

If you're planning to transact with Coinsph make sure lang na may supporting documents ka kase may nabasa ako na mahigpit sila kapag malaking pera nag iwiwithdraw mo lalo na sa isang bagsakan lang.

P2P ang solusyon dito, pero wag mo ren masyadong biglain kase baka magtaka ren ang bank na gagamitin mo at maquestion ka kung saan galing ang pera mo.
Pinakamalaking transaction ko sa P2P is around 100k, kinaya naman ito ng isang batch, nakakakaba nga lang.

If may Binance ka mate at verified account naman, ok itong option na ito piliin mo lang yung seller na verified den.

[mk4]

If ang problem is ung limits: probably spread out ung selling on multiple exchanges like Coins.ph, Abra, BloomX, etc.

If ang problem is privacy: no choice talaga but to sell pakonti konti using multiple exchanges(better if P2P), and spread to multiple banks para hindi malakihan ang nawiwithdraw.

[Bttzed03]

Thread Rule: please post accordingly by your own personal experience

Not my experience yet kasi nagplano pa lang din ng exit strategy.

I would probably deal with someone na kasama ko sa isang crypto group. Mukhang legit naman at recommended even by the group founder. She can accomodate Php1 Million daily (or more pa ata). Wala akong ibang alam na contact kundi Facebook. PM me kung interesado ka.

[Theb]

I would probably deal with someone na kasama ko sa isang crypto group. Mukhang legit naman at recommended even by the group founder. She can accomodate Php1 Million daily (or more pa ata). Wala akong ibang alam na contact kundi Facebook. PM me kung interesado ka.

Not unless makikipag-kita ako sakanya in person hindi ko pipiliin na makipag-deal through online lalong-lalo na mang-gagaling ito sa isang Facebook group lang. Siguro alam naman natin lahat na kahit scammer ay nasa loob ng grupo na ito at mahirap na silang pagka-tiwalaan.

If ang problem is ung limits: probably spread out ung selling on multiple exchanges like Coins.ph, Abra, BloomX, etc.

If ang problem is privacy: no choice talaga but to sell pakonti konti using multiple exchanges(better if P2P), and spread to multiple banks para hindi malakihan ang nawiwithdraw.

What if privacy isn't a concern? What are the best options na nagawa mo na? Are localbitcoin buyers trusted?

[mk4]

What if privacy isn't a concern? What are the best options na nagawa mo na? Are localbitcoin buyers trusted?

Then spread out using multiple exchanges talaga. As for LocalBitcoins, nakadipende nalang talaga sa buyers. Piliin mo lang ung may ample amounts of positive feedback, tapos spread out mo in multiple transactions. If possible, it's best na makipag meetup ka nalang mismo sa banko para talagang sigurado.

[Bttzed03]

~
Not unless makikipag-kita ako sakanya in person hindi ko pipiliin na makipag-deal through online lalong-lalo na mang-gagaling ito sa isang Facebook group lang. Siguro alam naman natin lahat na kahit scammer ay nasa loob ng grupo na ito at mahirap na silang pagka-tiwalaan.

Nasa sa'yo naman yan. Pwede ka naman magtanong sa kanya kung paano ang magiging mode of exchange ninyo. Like I said, PM para makuha account niya. If not, all good.

[blockman]

May Coins Pro ka ba? sa experience ko 500k per day siya depende rin sa level ng account mo pero ang maganda sa coins pro, hindi magagalaw ang limit mo sa coins.ph.
Pwede mo rin try yung moneybees or tivoli exchange ata tawag dun na nasa glorietta at city of dreams. Need mo lang ng ID, bale over the counter transaction siya.

[AicecreaME]

May kakilala kasi ako personally when it comes to trading BTC to PHP sa P2P Trading ng Binance kaya matagal na akong hindi gumagamit ng coins.ph simula nung naimplement yung P2P exchange. The good thing is halos hindi mo mararamdaman yung exchange fee kasi 50-100 PHP lang sa total traded amount yung mababawas.

Approximately, nakapag trade na ako ng total of 150k to 200k sa kanya with an interval of 1 - 2 months per small  trade. Also, ang gamit ko lang ay Gcash for receiving PHP kaso maliit lang din ung monthly incoming limit; nasa 100k per month lang. Mas okay siguro kung by batch mong gagawin yung pagbenta mo kasi ang tendency mabilis mare-reach yung limit ng account mo.

Edit: Or if you have Gcash, pwede mo pang i-link yung Bank Account or Debit Card mo para magkaroon ka ng 500k monthly incoming limit. Goods na yun if you are cashing out millions of pesos. Note that walang daily limit ang gcash for receiving.

I also recommend this.

Never use coins.ph when you're going to convert a large sum of money since masyado silang sensitive about it kahit mataas pa yang level ng account mo, unless their company knows you personally so I don't see any issue about using their platform on such thing. Pagdating naman sa P2P sa Binance, I also vouch it since smooth naman ang transaction nila doon pero beware na rin siguro sa mga scammers kabayan, always payment first before confirming your transactions.

[dothebeats]

What if privacy isn't a concern? What are the best options na nagawa mo na? Are localbitcoin buyers trusted?

Personal experience: Localbitcoins traders are trusted, pero madalas matataas ang patong nila at madalas e panget ang kanilang exchange rates. Kung may makita kang medyo maganda ang rates pero mababa ang ratings, magtaka ka na dahil malamang e groomed lang yung account para makapagpalabas na mukhang legitimate yung trader. I only used it thrice for conversions na more than 100k, and never used it again kasi nga masyadong rip off; kinailangan ko lang ng fast cash nung mga time na yun.

As others was pointing out, binance p2p is the way to go. Pero siyempre be wary sa trust ratings at sa kung sino yung pagte-tradean mo.

[maxreish]

Kung may Binance ka @OP, maari mo ng isend ang bitcoin into php na sa bank mo using p2p transactions. Piliin din yong makakatransact dahil may kakilala akong using gcash ipinapasend pero hindi nag comply at nang scam na. Or, kung may other coins.ph ang isa sa mga kapamilya mo ay makisuyo ka nalang na gamitin ito pang cash out.
 
 Last time ganyan din ang ginawa ko, two coins.ph ang ginamit ko pang send sa bank at binance ung iba para nahati yong ilalabas sa ibat ibang wallets. Yon nga lang, from custodial wallet kasi ung bitcoin ko that time kaya nai distribute ko siya sa ibat ibang wallet.

[Eureka_07]

I'm intending to convert some of my Bitcoin sa ating Philippine Peso and usually ang ginagawa ko lang madalas is through Coins.ph App to my Bank Account and ang current limit ko lang is ₱400,000 dahil na rin na kailangan pang i-convert ang BTC to PHP at hindi sapat ito. Pwede ko rin naman mag-request ng custom level pero pangit rin ang rates ng Coins.ph kaya naghahanap ako ng ibang way para mag-liquidate ng Bitcoin. Other options I see is localbitcoins pero wala pa akong masyadong experience dito involving large quantities of Bitcoin (sharing your experience would be greatly appreciated).

Thread Rule: please post accordingly by your own personal experience

Sobrang laki ng fee kasi sa coins eh. For sure ramdam na ramdam yan lalo na kung napakalaking halaga ng ieexchange mo. Para sakin better to use P2P mode of exchange para dito. Less ka na sa trading fee dun diba? Medyo time costly nga lang since need mo mag hintay/maghanap ng other peeps na gustong mag buy ng ganyan kalaking halaga. Isa pang way, katulad nung nasabi ng ilan sa itaas, cut nalang yung pagbenta since may limit.

[samcrypto]

Nakapagwithdraw kana ba mate ng malaking halaga? I’m also curious kung paano at ano ang mas ok.
As per them P2P ang magandang option pero baka kase magtaka yung bang mo if makareceive ka ng malaking halaga out of nowhere. Share your experience mate if ever na ka pag withdraw kana.