Topic: Best way to cash-out - page 3. (Read 532 times)

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Coins.ph Help Center  Managing your funds Cashing Out / Claiming Cash

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How do I cash out of my wallet?
 Avatar  Coins.ph
Updated 1 day ago
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Cashing out through Coins.ph lets you directly claim funds out of your wallet or send money to anyone in the Philippines via bank transfer, cash pickup, mobile money, or door-to-door delivery.

Here are the steps:

1) Choose the cash-out option that is most convenient for you.

Note that if you cash out through a remittance outlet before 10 am on a regular business day, you will receive it on the same day. Outside of that, you will receive the cash in your chosen outlet on the next business day.

*For more urgent cashouts, we recommend using our coinsXpress option – Cardless ATM Instant Payout, Globe GCash or through Express Cash Pick-up (via Cebuana Lhuillier).

 



 

2) Within each option, you can select the specific payout method. If you choose 'Bank' for example, you can select any bank where you or your recipient can conveniently get the cash.



 

3) Enter the amount that you want to cash out. Transfers to your bank have zero fees, unless it's a branch outside Metro Manila.



 

4) Enter recipient details and the bank account number, then click 'Complete payment.' The funds will be transferred from your wallet to the chosen account once we have processed your cash out.



5) Lastly, choose which wallet you would use to fund your transaction and enter your verification code. Click pay to successfuly place your order.

Once you complete a sale, you'll receive the money into your Cash Balance and be able to either withdraw into your bank account, PayPal account or Bitcoin wallet.

What if you want to cash out your bitcoins? Find out the banks and remittance centers that let you withdraw your bitcoins to cash, plus the payout fees.

It's time to sell bitcoins and collect the money earned. In this situation, you can again use exchangers or withdraw money through the exchange.

I don't live in Malaysia but what's happening there? Can someone give a delight if this is for real that the gov't are freezing bank accounts of bitcoin exchanges? Gov't is responsible for giving a directive to the banks and the bank itself that shall give sanctions to these bitcoin exchange bank accounts. I have heard this type of news but with different country and IIRC that's in India and afterwards, FUD came out that bitcoin is ban in India.
There are citizens in my country that does have bank accounts offshore so I guess it will be easy for you if you have big money.

For me the best way to cash out if you are in a hurry is to sell to someone who buys token in bitcoin or the other side you can cash out the money through banks and it could paypal too. Their are many ways to exchange the money. Or you can refer to coin.ph their are ways there how to cash out.

The number one rule of dealing in crypto is NEVER keep your crypto on an exchange. No matter how many times people get burned, you still see people doing this. Keeping money on exchanges is the easiest way to lose your investment. Move your crypto to your own wallet, and store your private keys securely. There are several exchanges that allow buyers from all over the world. Selling crypto, on the other hand, is a little harder. There are some peer-to-peer sites that allow you to sell Bitcoin and transfer the funds to your PayPal account. Search online for this.

Bitcoin has not only made us financially stable but it also made us more friends and acquaintances. Hence, this users that you have met would surely be able to help you when your country banns the withdrawal/conversion of cash from bitcoin. I think you must know someone really trusted to withdraw an amount from your account and remit it to you thru wire transfer and the likes. However it is a risk that you must weigh and think of.

Try to visit our local board in the Philippines. See trusted members there, then visit Philippines if you have time. As suggestions by other members, peer to peer is the best way to sell your bitcoin. Its the fastest way to cash out.

I think it will be difficult for you to convert your bitcoin to fiat money. If you can find someone who would buy your bitcoin and send you fiat money as payment, then you can do so. However, if you will only sell small amounts, it would be difficult for you to sell it because some people buy big amount of bitcoin.

So the government did not gave any chance to the investors to take out the money before freezing the accounts of that exchange ? If the exchange account was freeze because of fraud or some suspicious behavior, then it will take a lot of time. This matter will go in court. You may try appealing to government to speed up this process giving your personal financial situation.

You can exchange your bitcoin to money and if you have a mastercard you can add your bitcoin to your card by exchange site you can visit bestchange.com and you can find many exchange sites choose an exchange site with low fee of transaction

If you are holding high amount of Bitcoins then I would recommend you to contact your legal attorney and take the help. The best way is to sell Bitcoins on the exchange having KYC enabled in it and paying the taxes if there are any. In my country the maximum tax is 30% so it everyone in my country is recommended to pay 30% tax if there is any gain from it. You can check the taxation rate of your country and pay the same.

Of course you will need to look not at the national currency but on the dollar and there will be a good way for subsequent cashing then just transfer to your currency.

Learn how you can easily cash out Bitcoin, to turn it into USD, EUR, or other fiat ... you have to withdraw your Bitcoin and what the best ways are to do it.

Instead of cashing out your Bitcoin holdings you might consider purchasing goods and services with Bitcoin. After all, isn't it the main purpuse behind why Bitcoin was created in the first place - as an electronic currency system? And with transaction fees being as low as they are currently, it is an option worth considering, I think.

Answer to you question is Singapore. Because I think Singapore is the most bitcoin/crypto friendly country on earth.

You are very near to Singapore and I guess you're Malaysian so you don't need visa to visit Singapore you can travel by bus its just 90MYR.
Also you can open account there in any bank like CIMB or HSBC they have branches in Malaysia / Singapore too. It should be very easy for Malaysians. I remember when I was there in Malaysia people use to go to Singapore just to buy iPhone.

Any way once you have Bank account in Singapore use any can exchange (e.g. Coinbase does support Singapore) to withdraw to your SG Bank and later bring the cash to Malaysia or do online transfer to your local account.

You can check for some payment systems (like Skrill or Okpay) that have an option of funding your account via bitpay, if they don't have any restrictions in your country then it will be realy fast to fund your acc with a single transaction and only 1% bitpay fee. The 2nd fastest option is localbitcoins, which was already mentioned, but even if it is popular in your country I havent seen any major sellers buying with lower then 5% fee.

The best way is to use the social media to find friends in Malaysia who want to buy bitcoins so you exchange with them. Again you can open accounts with a bank that accept bitcoins; and exchange it there

I think now Bitcoin debit card is not working in all countries I heard only in the European countries this card is working not sure. recently it stops working in Singapore this is for sure.

How about Paypal money? you can sell your bitcoins to PayPal money this is also good option.