To convert Bitcoin into cash, look for a Bitcoin exchange that will allow you to sell your Bitcoin at a reasonable price, for your preferred local currency (such as pesos, dollars, or euros).
Most Bitcoin exchanges display their sell price, or "offer", in a ticker located at or near the top part of their homepage:
The sell price is basically what an exchange uses to compute how much cash you will get when you convert your Bitcoin. The price shown on the ticker is real-time and is usually updated every few seconds.
When choosing which exchange to use, you should consider the following:
- Whether or not the exchange supports your preferred currency, and your preferred method of receiving your cash
- How much does the exchange charge? (Beware of exchanges with hidden fees!)
- How long it will take for them to send your funds?
- Whether or not their sell price is reasonable
- If the exchange has a reputation of being legitimate and reliable
Converting Bitcoin into Pesos (PHP)
In the Philippines, Coins.ph provides the fastest, easiest and safest way to turn Bitcoin into Philippine Pesos (PHP). You can sell as little as 0.001 Bitcoin, and receive your cash through over 25 different ways, including options that don't even require having a bank account).
1. If you don't have one yet, start by signing up for a Coins.ph account.
Coins.ph accounts are completely free -- signing up only takes a couple of minutes, and all you need is a valid email address.
You'll need to sign in to place an order.
2. Go to the Cash Out page to place an order.
You will be directed through four steps:
1) Method - Start by choosing how you'd like us to send your cash. If you have a bank account, you can choose "Bank." If not, you can choose from a number of other options, such as an instant cardless ATM Instant Payout, cash pick-up at over 10,000 remittance outlets, and door-to-door delivery.
2) Amount - Indicate the amount you wish to sell.
3) Recipient - Provide necessary information about you or your recipient (e.g. bank account details, mobile number)
4) Payment - Choose how you want to pay for the order.
If you wish to convert Bitcoin that you are currently storing outside of Coins.ph (i.e. in a Bitcoin wallet such as Blockchain.info, or in another exchange such as Coinbase), click the "Other payment options" button.
Then click the "Show QR" button.
If you have already added funds to your Coins.ph BTC Wallet, you also have the option of paying directly with your Coins.ph balance. To do this, simply choose "Bitcoin Wallet" then click the "Pay" button.
3. Send your payment to finish placing your order.
Send the exact Bitcoin amount to the receiving wallet address indicated in the "Show QR" screen. If you're copy-pasting the address to a field in your external wallet, please don't forget to double-check before hitting send!
You will receive a notification via email once your Bitcoin payment reaches the receiving wallet.
The status of the order will also change to "Processing" to indicate that we are working on getting the funds to you:
4. Done! We'll deliver your cash!
We will then deposit your cash through the method you specified. Depending on when you placed your order and which method you chose, you will receive your funds between 5 minutes, 24 hours, or by next business day.
Need help? Send us an email at email@example.com and we'd be happy to assist you with your Cash Out order.