In my last tutorial I have discuss how to cash out your hard-earned sbd from steemit and we ended in the step that you receive your earning in your bitcoin wallet in the form of bitcoin.
For this tutorial I will ralk about converting your bitcoin to fiat money for you to spend.
For now we don't have much merchant accepting cryptocurrencies but we have a way to convert it to fiat for us to spend in the market.
There are a lot of ways to convert your bitcoin to fiat money using different exchangers. Aside from coin.ph we still have abra and rebit.
But this tutorial is purely on couns.ph cardless tramsaction. We all know and most of us experienced cashing out through this local exchanger....by the way coins.ph is a local exchanger to buy and sell bitcoin.
Lets start...
Download the mobile app...by the way I will be using mobile app for coins.ph
That is the icon encircled.
Every coins.ph user is familar with the bitcoin and php wallet. Click bitcoin wallet.(for those who converted their bitcoin to php wallet-the process is the same) click cash out. Encircled in the screenshot.
Upon clicking it the cash out method will be shown. Choose Security Bank Cardless atm. This option will utilized third party method which is the Security Bank so better find out first if atm machine of this bak is available in your place because it is where you will going to withdraq your money.
The menu is encircled.
Chiose the amount you want to withdraw. 500php is rheir minimum amount and 5000php is the maximum however if you want to withdraw more than that as long as your limit permits you can repeat the process for the remaining amount.
Click next shown number 2
This is the window where you will fill-up for your recipient name and his number. Be very careful with this detail especially the number becuase it is wherw they will text the ecg number to be used in the atm machine.
- Recipient's name
- Recipient's number
At the bottom of the page you will see the payment option. Php wallet or bitcoin wallet. Choose bitcoin as shown..(for those using pho wallet click php wallet)
After that slide "slide to pay" to send ypur payment for the cash out order you created..
This window will come out next...wait until payout sent in #3. All numbers should be filled with blue colors to be sure that you finish the order and coins ph will send the needed numbers to claim the money in Security Bank atm machine.
Your recipient should received this sms giving him the ecg number. It is a 16 digit number to be encoded in the atm machine when he visit it to claim...but he still need other number the passcode.
This is the passcode a 4 digit number.
Take note that before the recipient can claim his money you sent he must have the
- Egive cash number
- Passcode number
- Amount to received.
All these 3 items should be clear and valid. If not he cannot claim the money.
This is instant you can claim after you have the 3 items enumerated unlike for banks which will take 2-3 banking days. Its also free of charge unlike the remmittance center who charge I think 130php for cebuana lhuiller. I don't know the rate for other remmittance center.
This is all for now and happy steeming!
PERSONAL ACKNOWLEDGEMENT:
To @beanz, mam thank you for the support and everything that you thought us in your server. I see to it that I read every conversation that I miss. It's very helpful. Wishing you and your family a good health ...a sincerest prayer for your dad.
To @surpassinggoogle thank you for your kindness to our community.
To @enginewitty thank you for always making me feel important by dropping by my post and suggestions.
To #VOTU, #thealliance and #steemitdiversify. Thanks for the support
Others that I cannot mention here and everyone who supports me ...
THANK YOU!!!
photo credit
Coins.ph of everlyn canaberal @evershe 0530
This is very much nice and informative post of all steemit and bitcoin user but i just want to know the following questions.....?????
24X7 service to send and withdraw money, anyplace in Asian country??????
The recipient needn't hold a checking account?????
No this is only for our local exchanger in the Philippines...and coins.ph do cater banks cash out but of course with an account in Philippine banks
nice share mam @baby07 i did the same process also....
Yeah its great to know it...it is beneficial to the newbies.
helpful indeed , share more my friend!
Thanks I will...
Halo apak kabar baby07 . Postingan kamu bagus sekali .
Another valuable information you shared @baby07! Thanks!
Very good tutorial but as far as I can see it's only for Philipinos!?!
It would be nice, if you know how, to help the other Steemit members from other countries, regarding this matter. (Just a suggestion!) 🙂
yes its for us...coins.ph is a local exchnager...I will try to research more for your request
thanks for sharing, very good information, success always👍👍👍
Very thorough and clear guide, this seems pretty complicated so it's good you have made all the steps very clear for people to follow.
#thealliance