Bitcoin is this somewhat new and trending Internet based currency. Basically, Bitcoins provide internet users a way to perform money transactions without the involvement of actual money, well until you actually opt to have your Bitcoin exchanged to whatever currency you prefer. Currently, 1 BitCoin (BTC) sells for at approximately Php 14,751.

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Although the use of Bitcoins isn’t as main stream here in country, one of the leading and more popular Bitcoin exchange and wallet provider here in the Philippines (and in Thailand, too) Coins.PH launched an all new service that will help users cash out their Bitcoins a whole lot easier.

The new cash-out option uses Coin.PH’s remittance system. With this, users can send money amounting from Php 500 to Php 10,000 to anyone in the Philippines. Remittance recipients on the other hand can get their money 24/7, through select ATM partners, even without an ATM card from the respective bank.

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To do this, recipients can easily head to the nearest Coins.PH partner ATM, selecting the “eGiveCash” cash-out option, and then entering the eGiveCash number they have received via an SMS, as well as the provided passcode received via e-mail and the amount.

“Our priority has always been about offering convenience and equal opportunity,” said Ron Hose, CEO of Coins.ph. “We believe that everyone deserves access to financial services and should have the option to use their money to their desire, without having to endure high fees and prerequisites.” he added.

Currently, according to Coins.PH’s website, there are a total of 450 ATM partners across the country, on top of over 5,000 pick up locations.

To know more about Coins.PH’s eGiveCash cash-out option, refer to the embedded video below.