Withdraw bitcoin to Philippine bank account

0

I work as a virtual assistant and live in the Philippines and my employer is in the US. We've been using Paypal to send payments to me and my employer mentioned using bitcoins instead.

So I downloaded this Bitcoin wallet on my PC (we haven't done any transactions yet using bitcoin cause I want to understand it first) and was wondering how can I transfer the bitcoin money from that wallet to my bank account here in the Philippines?

hearmeroar

Posted 2014-02-19T17:43:30.397

Reputation: 1

1You'll need an exchange to do that. – user13413 – 2014-02-19T22:11:34.490

what exchange can i use? suggestions? – hearmeroar – 2014-02-20T00:46:59.573

I've absolutely no knoledge of the country, but taking a look on bitcointalk.org should give you an idea of what exchanges are available to you. – user13413 – 2014-02-20T01:35:49.350

Answers

2

Currently, the list of exchanges in the Philippines includes https://buybitcoin.ph/ and https://coins.ph/. Both of those allow you to sell Bitcoin and have the proceeds deposited as PHP into your bank account.

The way the process works is that you send Bitcoin from your wallet to the wallet of the Exchange, where it gets sold for PHP.

https://www.coinxchange.ph/ will be opening soon. Disclosure: I'm an employee of CoinXchange.

ChrisW

Posted 2014-02-19T17:43:30.397

Reputation: 870