Cheapest way to send php to the Philippines via bitcoin? (normie-friendly)

Bitcoinislife09

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Quote from: ralle14 on May 20, 2020, 09:58:11 PM

Quote from: Tyr808 on May 20, 2020, 09:09:56 PM

That's good to know about Abra but yet but MK4 said it has a "slightly worse UI and less withdrawal methods" - would you say that is not the case?
With coins.ph I can just tell people to make an account there and send me the btc wallet they create there; they figure out themselves how to convert or use what I send. Would the same be possible with Abra? Imagine your average IQ illiterate peanuts vendor in Makati ave.

It's possible but I think it's much easier with coins.ph because of the accessibility you could use their service in both the browser or the app while with Abra you're only limited to their app. I agree abra is a good competitor against coins but imo they're still lacking at some parts when compared to coins like the limited withdrawal methods (only bank and remit) but overall their service is still quite good as they're less strict with KYC they could start receiving bitcoins after registration and cash out. Your friend could probably figure it out on their own as abra have faqs and articles about converting to php, cashing out, etc.

Yes, I agree that it is much better and easier to transfer money or bitcoin using coins.ph. Many people are already using coins.ph and it is really accessible, it is already tested by many. Coins.ph is an application downloadable online at google playstore, you can immediately download the application and use it. But then you must be verified using your identification card before having withdrawal transactions. If you want to pay bills using the coins.ph you are allowed to do it and with a cash back. You can also buy load using this application and get 10% cashback. This can also send money to banks and other onlime wallets.

maxreish

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Lately ko lang ito natry. Kung no choice at need mo talaga maglabas ng fiat money from coins.ph or need mo talaga magpadala ng pera sa pamilya. Convertion is necessary talaga though convertion fee cannot be prevented. Kung btc to php (convertion fee) tapos coins.ph send to paymaya (php to php na yun) at walang transfer fee. Then paymaya cashout ( may fee depende kung magkano nasa 25pesos lang ata ang 2000php). Mas makakamura pa.

Well, yun ay base lang sa real experience ko. Nung nagtry aq nito, lagi ko n gngawa pg cash in at pg cash out from paymaya to coins.ph or vice versa.

It is still up to you kung saan ka mas comportable mag cash out. Feeling ko kasi doon aq nakatipid sa ginawa ko.

Twentyonepaylots

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Quote from: mk4 on June 25, 2020, 08:10:52 AM

Quote from: Kong Hey Pakboy on June 25, 2020, 06:19:58 AM

Quote from: Shimmiry on June 11, 2020, 12:45:08 AM

Based on my experience using XRP bilang pang convert para mas makamura, ilang beses ko na ginagawa ang ganitong method ever since coins.ph accepts XRP and TBH it is really much convenient kasi mabilis din yung transactions ng XRP compared sa pagsend ng BTC to BTC.* Also, BTC to BTC then BTC to PHP might cost you 5-10% of your money sent (though I have not yet tried because I wouldn't risk any money para lang sa proof). And lastly, diba nakadepende naman yung fees sa kung anong exchange yung pagsesendan ng isang user?

Same experience here. Simula noong nagstart magaccept ng XRP ang Coins.ph ito na ang madalas na ginagamit namin magkakaibigan kapag magsesend ng transaction dahil nga mas mabilis ito at mas mababa ang transaction fee. Ang alam ko kasi nakadepende talaga ang mga fees kung anong exchange ang gamit mo, kahit ito ay decentralized o centralized exchange. Pero minsan nakadepende sa isang coin kung gaano kalaki ang transaction fees.

Again, mostly para makamura ka sa XRP --> PHP transactions, you'd have to initially have the XRP. Kumbaga XRP na dapat talaga ang hinohold mo hindi BTC. Kasi pag BTC --> XRP --> PHP, edi talagang kakainin ka sa conversion fees kahit kung makatipid ka sa transaction fees.

This is what I do sometimes lalo na pag nafefeel ko na gagalaw ang market or magkakaron ng event sa bitcoin which might affect congestion sa network na mag cacause ng higher fees. Minsan XRP ang ginagamit pero mas madalas ethereum, I find it cheaper kase most of the time than bitcoin. Once in a blue talaga ako mag convert ng bitcoin, ang sakit sa mata ng fee and conversion rates haha.

Quote from: mk4 on June 25, 2020, 08:10:52 AM

Also, mas worth it ang ganito pag lower amounts. Mid 5 digits to low 6 peso digits worth of transactions though? Kakainin ka talaga ng conversion fees, na tipong worth it kahit bayaran mo $5 worth bitcoin transaction fee.

Inaadvise ko rin to lalo na pag mataas talaga ang fees for the past days, make the transaction worth of the fee hindi yung magcoconvert ka lang kasi bibili ka ng kape ( pero worth naman ang kape diba? lol)

mk4

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Quote from: Kong Hey Pakboy on June 25, 2020, 06:19:58 AM

Quote from: Shimmiry on June 11, 2020, 12:45:08 AM

Based on my experience using XRP bilang pang convert para mas makamura, ilang beses ko na ginagawa ang ganitong method ever since coins.ph accepts XRP and TBH it is really much convenient kasi mabilis din yung transactions ng XRP compared sa pagsend ng BTC to BTC.* Also, BTC to BTC then BTC to PHP might cost you 5-10% of your money sent (though I have not yet tried because I wouldn't risk any money para lang sa proof). And lastly, diba nakadepende naman yung fees sa kung anong exchange yung pagsesendan ng isang user?

Same experience here. Simula noong nagstart magaccept ng XRP ang Coins.ph ito na ang madalas na ginagamit namin magkakaibigan kapag magsesend ng transaction dahil nga mas mabilis ito at mas mababa ang transaction fee. Ang alam ko kasi nakadepende talaga ang mga fees kung anong exchange ang gamit mo, kahit ito ay decentralized o centralized exchange. Pero minsan nakadepende sa isang coin kung gaano kalaki ang transaction fees.

Again, mostly para makamura ka sa XRP --> PHP transactions, you'd have to initially have the XRP. Kumbaga XRP na dapat talaga ang hinohold mo hindi BTC. Kasi pag BTC --> XRP --> PHP, edi talagang kakainin ka sa conversion fees kahit kung makatipid ka sa transaction fees.

Also, mas worth it ang ganito pag lower amounts. Mid 5 digits to low 6 peso digits worth of transactions though? Kakainin ka talaga ng conversion fees, na tipong worth it kahit bayaran mo $5 worth bitcoin transaction fee.

Quote from: trex30 on June 25, 2020, 01:36:06 AM

Hi guys Just want to comment about abra, tottoo na walang conversion fee. pero ang totoo ay mas mataas pa siya ng conversion sa coins.ph. kasi yung amount ng BTC sa home screen ng abra is different when you make a final payment.try niyo mag place order,check niyo ang final payment and e compare niyo yung home screen abra and coins.ph. sana maka tulong

I made a comparison between Coins.ph and Abra conversion fees some time ago: https://bitcointalksearch.org/topic/bitcoin-buy-prices-coinsph-vs-abra-5174388

Kong Hey Pakboy

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Quote from: Shimmiry on June 11, 2020, 12:45:08 AM

Quote from: mk4 on June 07, 2020, 09:20:28 PM

People mostly hold bitcoin by default for obvious reasons. Yes, cheaper transaction fees ang XRP, pero, kakailanganin pa munang iconvert ng isang tao ung BTC nya to XRP to be able to send XRP, so dagdag fees nanaman un. It'd be a lot cheaper to send BTC straight-off instead since sobrang liit naman ng fees ng BTC currently.

Based on my experience using XRP bilang pang convert para mas makamura, ilang beses ko na ginagawa ang ganitong method ever since coins.ph accepts XRP and TBH it is really much convenient kasi mabilis din yung transactions ng XRP compared sa pagsend ng BTC to BTC.* Also, BTC to BTC then BTC to PHP might cost you 5-10% of your money sent (though I have not yet tried because I wouldn't risk any money para lang sa proof). And lastly, diba nakadepende naman yung fees sa kung anong exchange yung pagsesendan ng isang user?

Same experience here. Simula noong nagstart magaccept ng XRP ang Coins.ph ito na ang madalas na ginagamit namin magkakaibigan kapag magsesend ng transaction dahil nga mas mabilis ito at mas mababa ang transaction fee. Ang alam ko kasi nakadepende talaga ang mga fees kung anong exchange ang gamit mo, kahit ito ay decentralized o centralized exchange. Pero minsan nakadepende sa isang coin kung gaano kalaki ang transaction fees.

Quote from: Shimmiry on June 11, 2020, 12:45:08 AM

Quote from: Tyr808 on June 09, 2020, 09:50:53 PM

Because XRP is a scam and holding it will cost you way more than you "save" in cheaper tx fees.

Nah, hindi siya scam. May confusion lang kung crypto ba ito or hindi.* Sadyang yes centralized siya pero kung gagamtin mo lang naman sya for smaller tx fees, why not diba?

* - see ref here: https://bitpinas.com/cryptocurrency/avoiding-bitcoin-transfer-fees-xrp/)

Tama. May mga tao na may ayaw sa XRP dahil ito ay centralized pero para saakin maituturing ko parin itong isang cryptocurrency.

trex30

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Hi guys Just want to comment about abra, tottoo na walang conversion fee. pero ang totoo ay mas mataas pa siya ng conversion sa coins.ph. kasi yung amount ng BTC sa home screen ng abra is different when you make a final payment.try niyo mag place order,check niyo ang final payment and e compare niyo yung home screen abra and coins.ph. sana maka tulong

Shimmiry

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Quote from: mk4 on June 07, 2020, 09:20:28 PM

People mostly hold bitcoin by default for obvious reasons. Yes, cheaper transaction fees ang XRP, pero, kakailanganin pa munang iconvert ng isang tao ung BTC nya to XRP to be able to send XRP, so dagdag fees nanaman un. It'd be a lot cheaper to send BTC straight-off instead since sobrang liit naman ng fees ng BTC currently.

Based on my experience using XRP bilang pang convert para mas makamura, ilang beses ko na ginagawa ang ganitong method ever since coins.ph accepts XRP and TBH it is really much convenient kasi mabilis din yung transactions ng XRP compared sa pagsend ng BTC to BTC.* Also, BTC to BTC then BTC to PHP might cost you 5-10% of your money sent (though I have not yet tried because I wouldn't risk any money para lang sa proof). And lastly, diba nakadepende naman yung fees sa kung anong exchange yung pagsesendan ng isang user?

Quote from: Tyr808 on June 09, 2020, 09:50:53 PM

Because XRP is a scam and holding it will cost you way more than you "save" in cheaper tx fees.

Nah, hindi siya scam. May confusion lang kung crypto ba ito or hindi.* Sadyang yes centralized siya pero kung gagamtin mo lang naman sya for smaller tx fees, why not diba?

* - see ref here: https://bitpinas.com/cryptocurrency/avoiding-bitcoin-transfer-fees-xrp/)

Vaculin

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Quote from: Tyr808 on June 09, 2020, 09:50:53 PM

Quote from: Shimmiry on May 24, 2020, 11:47:00 PM

Why not try receiving XRP instead?

Because XRP is a scam and holding it will cost you way more than you "save" in cheaper tx fees.

What's your basis on calling XRP as a scam coin, a coin with over $1 billion 24 hours trading volume looks like legit to me.

https://coinmarketcap.com/currencies/xrp/markets/

Have you considered checking my post above, I think you'll be able to save money for that.

Tyr808

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Quote from: Shimmiry on May 24, 2020, 11:47:00 PM

Why not try receiving XRP instead?

Because XRP is a scam and holding it will cost you way more than you "save" in cheaper tx fees.

mk4

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Quote from: Shimmiry on May 24, 2020, 11:47:00 PM

Why not try receiving XRP instead?
Napansin ko lang kasi na sobrang mura to almost walang transaction fees ang Coins pag Ripple ang ginamit, and it can be also easily converted sa PHP. Ilang beses ko na ginagawa tong ganitong way and I think eto yung pinakabest way kung gusto natin makatipid sa every transactions natin.

People mostly hold bitcoin by default for obvious reasons. Yes, cheaper transaction fees ang XRP, pero, kakailanganin pa munang iconvert ng isang tao ung BTC nya to XRP to be able to send XRP, so dagdag fees nanaman un. It'd be a lot cheaper to send BTC straight-off instead since sobrang liit naman ng fees ng BTC currently.

Vannie12

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I think there is no other option than coins.ph dito sa bansa natin. Ito din pinakaconvinient na gamitin ang cryptos nakaindicate na agad ang php, btc, bch, eth at xrp. Pefo wala tayong magagawa about sa fees. From the start, fees are already terrible.

Vaculin

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Quote from: Shimmiry on May 24, 2020, 11:47:00 PM

I think fees would be high sa Bittrex to banks, and kasi banks do also requires huge fees lalong lalo na kapag international exchange rates ang pinaguusapan and AFAIK huge amounts lang tatanggapin neto and not good nor friendly for transactions na mabababa lang ang amount.

The fee is very minimal, you can refer to this old thread.

https://bitcointalk.org/index.php?topic=5108813.40 Alternative for BTC cash in and cash out [USD bank account]

Quote from: Ipwich on March 19, 2019, 06:46:53 PM

I made another transfer again today, sent $156.21 and receive $139.71 in my BPI usd account, this means there is a charge of $16.5 for this transaction.
If I made this transaction with coins.ph, I could get a better rate as they are just 5% lower than the standard, here it's less 10% of my original amount.

Conclusion, wire transfer is not good for small transactions as the fee is your burden.
I don't know if this info is helpful in determining the fees, please help me analyze it and give your thoughts.

https://www.bpiexpressonline.com/p/1/694/international-wire-transfer

Next time I will transfer similar to the amount OP did in his example, let't see if the fee is reasonable.

As you can see, the fee was only $16.5 for a $156.21 transfer, so if you going to transfer a bigger amount, you will save a lot compared to the rate you will get from coins.ph.

Shimmiry

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Quote from: Tyr808 on May 16, 2020, 05:58:46 PM

Any other alternative you guys are aware of?

Uhm tingin ko hindi normal tong way ko para makareceive ng crypto through coins.ph. Di ko ginagamit yung Bitcoin for transfers kasi sobrang taas nga naman ng kain ni Coins sa fees nito.

Why not try receiving XRP instead?
Napansin ko lang kasi na sobrang mura to almost walang transaction fees ang Coins pag Ripple ang ginamit, and it can be also easily converted sa PHP. Ilang beses ko na ginagawa tong ganitong way and I think eto yung pinakabest way kung gusto natin makatipid sa every transactions natin.

Quote from: Vaculin on May 22, 2020, 09:49:15 AM

You can trade your btc to USD in Bittrex and you can send send that USD to a bank account in the Philippines, provided the receiver has a dollar account.
This is quite complicated, but if you are sending a big amount, you ca save with the conversion as an exchange uses a standard exchange rate.
I am not sure with the fee though from bittrex to a dollar bank account in the Philippines but I'm sure it's not that high.. I made a transaction before from bittrex to my BPI dollar account.

I think fees would be high sa Bittrex to banks, and kasi banks do also requires huge fees lalong lalo na kapag international exchange rates ang pinaguusapan and AFAIK huge amounts lang tatanggapin neto and not good nor friendly for transactions na mabababa lang ang amount.

nakamura12

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I'd recommend coins.ph rather than abra. To the person you're going to ask to create coins.ph account will be referred by you by giving them your link. Coins.ph have different remittance center that you can send compare to abra so coins.ph is much better with abra except the bitcoin transaction fee to another wallet. Prices may change so it's much better if you convert it yourself to php before sending it out to other coins.ph account.

Vaculin

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You can trade your btc to USD in Bittrex and you can send send that USD to a bank account in the Philippines, provided the receiver has a dollar account.

This is quite complicated, but if you are sending a big amount, you ca save with the conversion as an exchange uses a standard exchange rate.
I am not sure with the fee though from bittrex to a dollar bank account in the Philippines but I'm sure it's not that high.. I made a transaction before from bittrex to my BPI dollar account.

Tyr808

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Quote from: Bttzed03 on May 21, 2020, 12:52:27 AM

Quote from: Tyr808 on May 20, 2020, 10:46:29 PM

~ what do you mean by "remit"?

@ralle14 is referring to money remittance center (Abra refers to them as "Teller"). Right now, Tambunting Pawnshop is the only remittance center that's partnered with Abra.

You can send these tutorials to your friend if you decide to go for Abra

If you want to explore more option, here's another: https://www.bitbit.cash/
I haven't used it but from what I know, it has mobile app and web version too similar to coinsph. For some reason, I cannot access the website but I got this image

Thank you, this is helpful. Plenty of Tambunting Pawnshop in Manila so that's pretty good if they offer better conversion rates than coins.ph. Also good to have those tutorials and contacts in case.

Bttzed03

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Quote from: Tyr808 on May 20, 2020, 10:46:29 PM

~ what do you mean by "remit"?

@ralle14 is referring to money remittance center (Abra refers to them as "Teller"). Right now, Tambunting Pawnshop is the only remittance center that's partnered with Abra.

You can send these tutorials to your friend if you decide to go for Abra

If you want to explore more option, here's another: https://www.bitbit.cash/
I haven't used it but from what I know, it has mobile app and web version too similar to coinsph. For some reason, I cannot access the website but I got this image

Tyr808

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Quote from: ralle14 on May 20, 2020, 09:58:11 PM

Quote from: Tyr808 on May 20, 2020, 09:09:56 PM

That's good to know about Abra but yet but MK4 said it has a "slightly worse UI and less withdrawal methods" - would you say that is not the case?
With coins.ph I can just tell people to make an account there and send me the btc wallet they create there; they figure out themselves how to convert or use what I send. Would the same be possible with Abra? Imagine your average IQ illiterate peanuts vendor in Makati ave.

It's possible but I think it's much easier with coins.ph because of the accessibility you could use their service in both the browser or the app while with Abra you're only limited to their app. I agree abra is a good competitor against coins but imo they're still lacking at some parts when compared to coins like the limited withdrawal methods (only bank and remit) but overall their service is still quite good as they're less strict with KYC they could start receiving bitcoins after registration and cash out. Your friend could probably figure it out on their own as abra have faqs and articles about converting to php, cashing out, etc.

Alright then, I'll give Abra a go. So they can cash out only via those two methods; what do you mean by "remit"?

ralle14

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Quote from: Tyr808 on May 20, 2020, 09:09:56 PM

That's good to know about Abra but yet but MK4 said it has a "slightly worse UI and less withdrawal methods" - would you say that is not the case?
With coins.ph I can just tell people to make an account there and send me the btc wallet they create there; they figure out themselves how to convert or use what I send. Would the same be possible with Abra? Imagine your average IQ illiterate peanuts vendor in Makati ave.

It's possible but I think it's much easier with coins.ph because of the accessibility you could use their service in both the browser or the app while with Abra you're only limited to their app. I agree abra is a good competitor against coins but imo they're still lacking at some parts when compared to coins like the limited withdrawal methods (only bank and remit) but overall their service is still quite good as they're less strict with KYC they could start receiving bitcoins after registration and cash out. Your friend could probably figure it out on their own as abra have faqs and articles about converting to php, cashing out, etc.

Tyr808

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Quote from: Theb on May 20, 2020, 03:34:45 PM

I don't understand your reasoning here. You were just saying in your OP that you want "normies" to create a Coins.ph account even though they aren't aware of the app mostly yet you don't want them to try Abra which is the same and the closes competitor of Coins.ph, they are basically the same service and both of them if introduce to new people that are not into cryptocurrencies will just take the same time to learn the app/service itself. If you are looking for alternatives here for sending Bitcoin then this is the best thing you have as this is the only alternative for Coins.ph here in the Philippines. But if you still insists on not introducing Abra to your Filipino "normies" I guess your only choice left is a non-BTC transaction to send them money to like what I previously suggested.

And FYI you can send BTC to Philippine Peso in Abra because it has a Peso Wallet in-app. Here is also the full list of fiat currencies they have in-app for their international users.

Quote from: https://support.abra.com/hc/en-us/articles/236149527-Can-someone-send-me-Bitcoin-if-my-wallet-is-not-set-to-Bitcoin-

Can someone send me Bitcoin if my wallet is not set to Bitcoin?

Yes, Abra will automatically convert Bitcoin to your current wallet's currency and apply the current exchange rate. For transfer between two BTC wallets, no conversion will be performed.

Please note, a sender will have to choose which currency wallet to send to.

That's good to know about Abra but yet but MK4 said it has a "slightly worse UI and less withdrawal methods" - would you say that is not the case?
With coins.ph I can just tell people to make an account there and send me the btc wallet they create there; they figure out themselves how to convert or use what I send. Would the same be possible with Abra? Imagine your average IQ illiterate peanuts vendor in Makati ave.

Topic: Cheapest way to send php to the Philippines via bitcoin? (normie-friendly) (Read 657 times)