pHow to Cash Out Your Bitcoins in the Philippines So lets say youve already stacked up your hardearned bitcoins.
Either you HODL it, trade it, or use it to make online purchases. But how do you use it outside the online world? You convert it to cash.
Today, Ill be showing you how to cash out your bitcoins from your digital wallet. Whats up cryptopeeps? Its your girl Maria, here to deliver your daily dose of Bitcoin news. There are different ways to do this but it depends on where youre located and what is available to you. Since Im currently in the Philippines, Ill show you some of the easiest ways to cash out your bitcoins in the country.
The first two ways that Ill discuss require you to download an app called coins.ph, which serves as your digital wallet. You can also use this app to send load to your phone or even pay your bills. Now, lets get to it!
Number 1: Bank Transfers Once youre in the app, go to your Peso or Bitcoin wallet and this depends if you converted your Bitcoin into pesos or if you chose to keep them in your wallet as crypto. Tip: If the market of Bitcoin is high, Its best to store your bitcoins in your Bitcoin wallet so you can increase them. But if youre afraid of the risk that this might lessen your bitcoins, you can safely convert them in your Peso wallet. Next, click on the cash out button and youll see a lot of different ways to cash out your Bitcoin, but for now lets focus on the most convenient way. Click on bank.
Choose the bank you use and want the bitcoins to be sent to. Fill in the amount. And lastly, the details. And its as easy as that! But take note that orders placed before 10 a.m will be delivered to your bank account within the day, but orders placed after 10 a.m. will be sent by 6 p.m on the next business day.
Number 2: Money Centers Again, this needs to be done through the app. Also, keep in mind that remittance centers charge a fee depending on the amount that you will send. Currently, there are only two money centers to choose from on coins.ph, either Cebuana Lhuillier or LBC Instant Peso Padala.
Both have different rates, which you can simply search for on Google. Click on the money center of your choice, type in the amount and fill in your details. Once confirmed, the amount will be sent to the money centers for pickup within an hour or so. Dont forget to bring a valid ID since it is part of the requirements when you pick up your cash. Number 3: Bitcoin ATM Most of you dont know, but theres actually a Bitcoin ATM in the Philippines.
You can find it in a hotel located on P. Burgos street, Poblacion, Makati City. The hotel is called Sunnette Tower and you can find ATM just inside the lobby. Dont forget to bring your phone as you need this later to confirm your transaction. Now lets get started. If you take a look at the ATM, youll see that there are already instructions for you to follow Step one is to select withdraw cash.
Next, input the amount you want to withdraw. Then, using the Bitcoin mobile app on your phone scan your Bitcoin wallet QR code or you can opt to type it in manually but this is very risky since it is prone to errors. If youre having trouble scanning your code or too afraid to type it in you can also instantly create a paper wallet through the ATM. If youre encashing an amount greater than five thousand pesos, get the redemption code and wait for the confirmation code that it will send you through text. Once you get the code, type it into the machine and click redeem.
If the amount is less than five thousand pesos, then you can skip this step and get your cash directly through the dispenser along with the confirmation receipt. Simple, right? Wouldnt it be awesome if Bitcoin ATMs were available everywhere around the globe? I know that would make my life easier. Do you guys want us to teach you how to cash out in different places or how about more methods?
Let us know in the comment section down below. Dont forget to like this article, subscribe to our channel and click that bell button to get notified whenever we post new articles. Follow us on social media and our website as well. And lastly, my name is Maria and this is WeTheCryptos.p