How to Withdraw Bitcoin to Cash in the Philippines

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Converting Bitcoin to cash in the Philippines has become increasingly accessible, thanks to a growing number of crypto-friendly platforms and financial services. Whether you're looking to withdraw funds for daily expenses, investment purposes, or simply to secure profits, understanding the safest and most efficient methods is crucial.

This guide walks you through the most reliable ways to turn your Bitcoin into Philippine pesos (PHP), covering licensed exchanges, peer-to-peer (P2P) platforms, over-the-counter (OTC) outlets, and bank transfer options—all while ensuring speed, low fees, and security.

Understanding Bitcoin-to-Cash Conversion

Bitcoin is a decentralized digital currency that can be stored in mobile or hardware wallets. While holding Bitcoin offers potential long-term gains, many users eventually need to convert it into fiat money—especially in a country like the Philippines, where cash remains king for everyday transactions.

The process involves transferring your Bitcoin to a platform that supports crypto-to-fiat conversion, then withdrawing the equivalent amount in pesos via bank transfer, e-wallet, remittance center, or cash pickup.

Key factors to consider:

👉 Discover how to securely convert Bitcoin to cash with fast withdrawal options.

Top Platforms to Cash Out Bitcoin in the Philippines

1. Coins.ph – Licensed and Versatile

Coins.ph is one of the most trusted, BSP-licensed platforms for converting Bitcoin to cash. Once your Bitcoin is in your Coins.ph wallet, you can choose from multiple cash-out methods:

Same-Day or Next-Day Payout Options

Door-to-Door Delivery

Coins.ph also supports InstaPay and PESONet transfers, enabling near real-time deposits to major banks.

💡 Pro Tip: Use InstaPay for faster transfers—funds arrive in minutes with a ₱25 fee and up to ₱50,000 limit.

2. PDAX – Fast Bank Transfers

PDAX (Philippine Digital Asset Exchange) offers competitive cash-out options with transparent fees:

PDAX is ideal if you prefer direct bank integration or use PayMaya regularly.

3. Rebit.ph – Cash Pickup Made Simple

Rebit allows you to send Bitcoin and receive pesos via cash pickup or bank deposit. It’s especially useful for self-transfers or receiving funds from abroad.

Steps to Cash Out via Rebit:

  1. Visit Rebit.ph and select “Send money to the Philippines from the Philippines with Bitcoin.”
  2. Click Get Started → Choose Cash Pick-up.
  3. Enter amount (minimum: ₱300).

  4. Select delivery method:

    • Remittance centers (2–4 hours)
    • Bank account (2–4 hours)
  5. Fill in your receiver details.
  6. Review and confirm.
  7. Send the required BTC to Rebit’s wallet address.
  8. Wait for confirmation and payout.
⚠️ Always double-check Bitcoin addresses—transactions are irreversible.

4. OTC Outlets: Bloom and Moneybees

For face-to-face transactions, over-the-counter (OTC) outlets offer a secure way to sell Bitcoin for cash.

Bloom Solutions

Bloom partners with remittance centers nationwide, including:

You can buy or sell Bitcoin at fixed rates in person—ideal for users uncomfortable with online platforms.

Moneybees

Licensed by the BSP as a Virtual Currency Exchange (VCE), Moneybees operates OTC kiosks at:

These locations allow instant conversion with minimal paperwork.

👉 Learn how to instantly convert Bitcoin to cash at trusted OTC locations.

5. UnionBank – The Crypto-Friendly Bank

UnionBank stands out as one of the most crypto-friendly banks in the country. You can:

The bank plans to expand its crypto ATM network, allowing direct buying and selling of Bitcoin using QR codes.

6. Paylance – Flexible Cash-Out Network

Paylance supports withdrawals to:

It's integrated with several exchanges and ideal for users who prefer cash pickup over bank transfers.

Peer-to-Peer (P2P) Selling: Risks and Rewards

Selling Bitcoin directly to buyers can yield better rates—but comes with risks.

How It Works:

  1. Agree on price and meet in person (or use escrow).
  2. Transfer Bitcoin to buyer’s wallet.
  3. Receive cash payment immediately.

Safety Tips:

While P2P offers flexibility, it lacks the protection of regulated platforms.

Smart Strategies to Reduce Fees

Convert First to XRP (Ripple)

Transferring Bitcoin directly can incur high network fees. A common workaround:

  1. Convert BTC → XRP on Binance or Kraken
  2. Transfer XRP (fast and cheap)
  3. Sell XRP for PHP on local exchanges

XRP transactions settle in seconds with minimal cost—ideal for moving large sums before cashing out.

Use LBC for Quick Access

LBC branches are widespread and offer near-instant payouts via LBC Peso Padala. Just ensure you initiate the transaction on a business day during operating hours.

Frequently Asked Questions (FAQ)

Q: Can I withdraw Bitcoin directly to my debit card?
A: Not directly. However, you can transfer funds to e-wallets like GCash or PayMaya and link them to Mastercard-enabled cards for spending.

Q: What is the fastest way to get cash from Bitcoin?
A: Using InstaPay through Coins.ph or PDAX delivers funds within minutes. OTC outlets like Bloom also offer instant cash pickup.

Q: Are there tax implications when selling Bitcoin?
A: Yes. The BIR treats cryptocurrency gains as taxable income. Keep records of all transactions for compliance.

Q: Is it safe to sell Bitcoin on Facebook groups?
A: Exercise caution. Always verify identities, use escrow services when possible, and avoid sharing wallet details.

Q: Do I need ID verification to cash out?
A: Yes. Licensed platforms like Coins.ph and PDAX require KYC (Know Your Customer) verification for withdrawals above certain limits.

Q: Can I convert small amounts of Bitcoin to cash?
A: Yes. Most platforms allow minimum withdrawals starting at ₱300–₱500, making micro-conversions feasible.

Core Keywords Integrated Naturally:

Whether you're a seasoned investor or new to crypto, turning Bitcoin into usable cash in the Philippines is now easier than ever. With licensed exchanges, OTC networks, and fast bank integrations, you have multiple secure pathways at your disposal.

Always prioritize platforms regulated by the BSP, keep transaction records, and stay updated on exchange rates and fees.

👉 Start converting your Bitcoin to cash today using fast, secure methods.