What is the best way to convert Bitcoin to Pesos in Philippines?

Mometaskers

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Quote from: YuginKadoya on December 14, 2017, 09:50:57 AM

Quote from: Mometaskers on December 14, 2017, 09:25:41 AM

Quote from: dothebeats on December 14, 2017, 08:35:46 AM

I'm using Abra and P2P exchanges from the people I personally knew through Facebook. Used to buy from coins.ph via Unionbank but thought of something new and the fees are indeed high. I even created an account in FB just to join a private group that buys and sells bitcoin at current market rates. Abra is a good alternative in buying bitcoins, but for converting to fiat, coins.ph is still the king, at least in my opinion.

I've only used coins.ph myself. I don't have a large network anyway that is also into bitcoins so I can't send them btc when I need cash.

Coins.ph is fine, I even use it to pay bills and buy load. The one thing people complain is the spread. Guess it need more competitors.

I am using Coins.ph as well and don't have any problem using it, and It has a fast withdrawal of bitcoin through the use of eGiveCash or Security Bank card less withdrawal, But I am using another wallet to make sure that I keep a percentage of my bitcoin for trading purposes I only use Coins.ph for withdrawing purposes, I think keeping a multiple wallet just to be safe if one of your wallet had been hack

I just send it to my savings account so I can withdraw through ATM. As for saving, I have my long term holding in Electrum. Bitcoins I'm earning are stored away in different online wallets. If I earn anything, that's when I send it to coins.ph.

Catch-22

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I think coins.ph is what almost everyone in the Philippines is using. Are there any competitor other than Abra who we heard of recently?
I like coins.ph, transactions are fast and cash-in and out are easy.

YuginKadoya

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Quote from: Mometaskers on December 14, 2017, 09:25:41 AM

Quote from: dothebeats on December 14, 2017, 08:35:46 AM

I'm using Abra and P2P exchanges from the people I personally knew through Facebook. Used to buy from coins.ph via Unionbank but thought of something new and the fees are indeed high. I even created an account in FB just to join a private group that buys and sells bitcoin at current market rates. Abra is a good alternative in buying bitcoins, but for converting to fiat, coins.ph is still the king, at least in my opinion.

I've only used coins.ph myself. I don't have a large network anyway that is also into bitcoins so I can't send them btc when I need cash.

Coins.ph is fine, I even use it to pay bills and buy load. The one thing people complain is the spread. Guess it need more competitors.

I am using Coins.ph as well and don't have any problem using it, and It has a fast withdrawal of bitcoin through the use of eGiveCash or Security Bank card less withdrawal, But I am using another wallet to make sure that I keep a percentage of my bitcoin for trading purposes I only use Coins.ph for withdrawing purposes, I think keeping a multiple wallet just to be safe if one of your wallet had been hack

Mometaskers

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Quote from: dothebeats on December 14, 2017, 08:35:46 AM

I'm using Abra and P2P exchanges from the people I personally knew through Facebook. Used to buy from coins.ph via Unionbank but thought of something new and the fees are indeed high. I even created an account in FB just to join a private group that buys and sells bitcoin at current market rates. Abra is a good alternative in buying bitcoins, but for converting to fiat, coins.ph is still the king, at least in my opinion.

I've only used coins.ph myself. I don't have a large network anyway that is also into bitcoins so I can't send them btc when I need cash.

Coins.ph is fine, I even use it to pay bills and buy load. The one thing people complain is the spread. Guess it need more competitors.

saffira

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I am also using Coins.ph. I found it userfriendly and during cash out I prefer banks because transaction is free. As of now I do not encounter any problem using it. It is safe.

Swenna

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What is the problem with using coins.ph in converting bitcoin to peso? You can directly convert it without paying conversion rates, right? I've been converting btc's using coins for a long time now and I don't see any problem with it. Hm. Maybe you are referring to buying bitcoin?

AngelJoshua

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We live on the same country , what i suggest is keep it as on altcoin like etherium because the fee on etherium is really low if youre going to make some investment of course that accept etherium

, but if you want to keep it as a bitcoin use other exchanges too

like poloniex or other to keep your bitcoin the fee their is low

perrysaico

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Thank you for sharing your thoughts. Appreciated

dothebeats

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I'm using Abra and P2P exchanges from the people I personally knew through Facebook. Used to buy from coins.ph via Unionbank but thought of something new and the fees are indeed high. I even created an account in FB just to join a private group that buys and sells bitcoin at current market rates. Abra is a good alternative in buying bitcoins, but for converting to fiat, coins.ph is still the king, at least in my opinion.

Mandoy

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Quote from: perrysaico on December 14, 2017, 08:17:36 AM

I am using Coins.ph right now. But the fees and exchange rate is way too different from those
of the exchanges. Hope someone can suggest some alternative which i can try. Thank you!!

I am also using the same site to convert bitcoin to pesos and there is no problem actually in converting bitcoin to peso. You can automatically convert it to peso without any fees and can cash out it to BPI or security bank to avoid fees. Most of the problems with coins.ph is that there is a huge gap between the buy and sell values and also the transfer fee of bitcoin to other site is really high. Well there are ways to solve this issue and that is you need to wait for bitcoin to increase the value before transferring that way your interest from the volatility will cater the miner fees.

perrysaico

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I am using Coins.ph right now. But the fees and exchange rate is way too different from those
of the exchanges. Hope someone can suggest some alternative which i can try. Thank you!!

Topic: What is the best way to convert Bitcoin to Pesos in Philippines? (Read 109 times)