Bitcoin machines are on the rise worldwide. Currently, these devices are in 76 countries and now the Philippines have been added to the list.

In the capital Manila, the first Bitcoin ATM was set up by UnionBank and Philippine&#;s central bank, Bangko Sentral ng Pilipinas. The fact that these parties are behind setting up the Bitcoin ATM in Manila shows a trend of growing acceptance for cryptocurrencies in the Philippines.

UnionBank justifies its commitment that it must adapt to the “changing needs and tastes of its customers”. Therefore, users of cryptocurrencies should be able to convert their digital currencies to the Philippine national currency Peso and vice versa.

The Bitcoin ATM in Manila enables users to deposit and withdraw from a wide range of cryptocurrencies including but not limited to Bitcoin, Ethereum, Litecoin and Monero.

“The Bitcoin ATM” is located in the bank’s main branch, UnionBank Plaza, Meralco Ave. cor. Onyx St., Ortigas Center, Pasig City.

Featured image credit: UnionBank Philippines

Source: www.oldyorkcellars.com

Not considered to be an official form of currency, earnings are subject to tax law.

The Financial Market Authority (FMA) has warned investors that cryptocurrencies are risky and that the FMA does not supervise or regulate virtual currencies, including bitcoin, or cryptocurrency trading platforms.^{[14]:&#;30–31&#;}

Croatia's Financial Stability Council warned investors about the risks of virtual currencies, such as digital wallet theft and fraud, on 18 December The National Bank of Croatia issued a similar warning on 22 September ^{[14]:&#;33&#;}

Businesses and individuals who buy, sell, store, manage, or mediate the purchase or sale of virtual currencies or provide similar services must comply with the anti-money laundering law.^{[14]:&#;33–34&#;}

Bitcoin is classified as an intangible asset (not as electronic money) for the purpose of accounting and taxes.^[][]

On 19 August , the German Finance Ministry announced that bitcoin is now essentially a "unit of account" and can be used for the purpose of tax and trading in the country, meaning that purchases made with it must pay VAT as with euro transactions. It is not classified as a foreign currency or e–money but stands as "private money" which can be used in "multilateral clearing circles", according to the ministry.^[][] The Bundesbank says that bitcoin is not a virtual currency or digital money. It recommends using the term "crypto token."^{[14]:&#;41&#;}

In November , a legislation passed by German parliament allows the banks to sell and store cryptocurrencies starting from 1 January ^[]

The use of bitcoin in Poland is not regulated by a legal act at present.^{[3]:&#;Poland&#;}

Szymon Woźniak of the Ministry of Finance made an official announcement on the legality of bitcoin on 18 December at a conference at the Warsaw School of Economics stating that the Ministry of Finance does not consider bitcoin illegal and does not want to hinder its development.^[] He clarified that while not illegal, bitcoin cannot be considered legal tender, and, in the light of the directives of the European Union, it is neither electronic money.^[] As of 27 January , several banks have closed accounts of clients trading bitcoin, and indicated "presumption of criminal offense" as the cause, with "criminal offense" presumably being "cryptocurrency trade".^[] As of 7 July , the National Bank of Poland (NBP) and Financial Supervision Authority (KNF) issued a comment on virtual "currencies".^[] They underlined that virtual currencies (including bitcoin): (1) are not issued or guaranteed by the central bank, (2) are not money, i.e. they are neither legal tender nor currency, (3) can not be used to pay tax liabilities, (4) do not meet the criterion of universal acceptability in shopping and service points, (5) are not electronic money, (6) are not payment services (in legal terms), (7) are not financial instruments (in legal terms). They added that trading virtual currencies in Poland does not violate national or EU law, however, having virtual "currencies", involves many risks: (1) risk related to the possibility of loss of funds due to theft, (2) risk related to lack of guarantee, (3) risk of lack of universal acceptability, (4) risk related to the possibility of fraud, (5) risk of high price change. Because of these risks, the NBP and KNF warn against buying virtual currencies and investing in them. The NBP and KNF recognize that the purchase, possession and sale of virtual currencies by entities supervised by the KNF (e.g. banks) would be burdened with high risk and would not ensure a stable and prudent management of the financial institution. Financial institutions should be cautious about engaging and cooperating with virtual currency "trading" entities.

As of March , an official statement of the Romanian National Bank mentioned that "using digital currencies as payment has certain risks for the financial system".^[]

In October , the National Fiscal Administration Agency (ANAF) declared that there is a lack of a legislative framework around bitcoin, and therefore, it is unable to create a tax regulation framework for it as well (implying no taxation).^[]

In January , Law nr. 30/ clarifies that starting in , income from trading "virtual currency" is classified under "income from other sources". In addition, there is a new subpoint, Article (2) c), specifying that the income tax of 10% is only applied on the "positive difference between the selling price and acquisition price" (and not to the entire received amount from a sale). In addition, profits under RON per transaction that total under RON during a fiscal year are exempt from tax.^[]

The National Bank of Slovakia (NBS), stated^[] that bitcoin does not have the legal attributes of a currency, and therefore it cannot be considered a currency.^{[note 1]} European legislation, including the Slovak law, does not define the activities associated with virtual currency. Such activities are not regulated and supervised by the National Bank of Slovakia or the European Central Bank. At the same time NBS points out that any legal person or natural person in the Slovak Republic shall not issue any notes or any other coins. Unlawful manufacturing of banknotes and coins and putting them into circulation is punishable by law. In this context, NBS points out that virtual currencies have not a physical counterpart in the form of legal tender and participation in such a scheme (virtual currency) is at your own risk. Exchanges or purchases of virtual currencies represent the business risk of investors and investors' money are not protected. For any compensation of losses caused by such exchanges or purchases there is no legal entitlement.

On 23 December the Slovenian Ministry of Finance made an announcement^[] stating that bitcoin is neither a currency nor an asset. There is no capital gains tax chargeable on bitcoin, however bitcoin mining is taxed and businesses selling goods/services in bitcoin are also taxed.

Bitcoin businesses in Switzerland are subject to anti-money laundering regulations and in some instances may need to obtain a banking license.^[]

On 5 December , a proposal was put forth by 45 members of the Swiss Parliament for digital sustainability (Pardigli), that calls on the Swiss government to evaluate the opportunities for utilization of bitcoin by the country's financial sector.^[] It also seeks clarification on bitcoin's legal standing with respect to VAT, securities and anti-money laundering laws.^[]

In response to the parliament postulates, the Swiss Federal Council issued a report on virtual currencies in June ^[] The report states that since virtual currencies are not in a legal vacuum, the Federal Council has concluded that there is no need for legislative measures to be taken at the moment.

In , Zug added bitcoin as a means of paying city fees, in a test and an attempt to advance Zug as a region that is advancing future technologies.^[]Swiss Federal Railways, government-owned railway company of Switzerland, sells bitcoins at its ticket machines.^[]

In , FINMA stated that it would take a "balanced approach" towards the cryptocurrency industry and allow "legitimate innovators to navigate the regulatory landscape". By June , a record number of Exchange Traded Products (ETP) and crypto structured products were offered on the SIX Swiss Exchange with a total trading value of CHF billion.^[]

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How to buy litecoin from the bitcoin ATM

Located in one of the hotels in Poblacion, Makati is this bitcoin ATM machine:

(Yes, yes, I know &#;ATM machine&#; is automated teller machine machine.)

And yes, Poblacion is where the famous P. Burgos St. can be found.

For the uninitiated, P. Burgos is famous because it is a known red light district. BUT! In case you haven’t been there recently, it’s actually been turning into a hipster spot with fancy coffee shops and cool new restaurants.

The hotel where this bitcoin ATM is located is called Sunette Tower. If you&#;ve ever heard of A&#;Toda Madre, it&#;s in that same hotel.

It opened for business about three years ago in May , making it one of the first bitcoin ATMs in the Philippines. The first one was a &#;traveling ATM&#; installed by www.oldyorkcellars.com back in I actually didn&#;t know these ATMs even existed until I saw posts about it on the Cryptocurrency Philippines Facebook group. When I saw a bunch of people posting selfies at this ATM, I knew I had to check it out.

The hotel isn&#;t hard to find but if you&#;re taking an Uber or Grab, you may want to pay close attention as it&#;s easy to make a wrong turn.

When you get to the hotel, just go straight and then make a left where the elevators are. The guards don&#;t ask questions; it seems they&#;re used to people just going straight for the ATM.

This machine allows you to buy two cryptocurrencies: bitcoin and litecoin. You can also withdraw. But for this post, I can only tell you about my litecoin purchase. I’ll write a separate one when I withdraw!

But first: How&#;s the spread?

I’m going to show you my handy dandy spreadsheet again and compare my purchase with Coinbase&#;s as it is the most popular place to buy litecoin in the US. Coinbase is not open to Philippine citizens as of this writing.

Note that the Coinbase fee increases as the amount you’re buying increases. The numbers below are based off my ₱2, LTC purchase that I did via the ATM. In USD that is $40 if we use the USD/PHP rate of $1:₱ The usual Coinbase fee for credit card purchases of $ and above is %.

I’m also not sure if this bitcoin ATM charges separate fees as I didn’t see it broken down during my entire process of buying. I’m assuming the fees are already baked in the sell price.

Coinbase	Bitcoin ATM
Dashboard Price	$ or ₱12,	$ or ₱13,
Transaction Fees	$ buy spread + % Coinbase fee for credit card transactions (instant buy) $50 or lower / % for $ or higher (dashboard price vs. actual buy price)	N/A (I didn’t see any breakdown of the fees while buying)
Actual LTC price including buy spread and fees	$ or ₱12,	$ or ₱13,
Price difference between Coinbase and the bitcoin ATM	$ or ₱69

Dat price difference doe! Not bad, right?!

I was actually thinking of buying bitcoin but because I just bought some from www.oldyorkcellars.com, I thought I’d switch it up a bit and try litecoin for those wanting to buy.

ALSO READ:I bought bitcoin at a 7-Eleven in Manila and compared how much BTC costs at Coinbase vs. www.oldyorkcellars.com

 

The process is pretty straightforward but here’s a quick list of the things you’ll need before you head there:

1. Your phone
   • You’ll need this to verify your identity because they’ll send you a code via your mobile number
   • You will also need this in case you don’t have a printed version of your QR code address
2. Cash that you’ll be depositing to your litecoin account
3. Your litecoin wallet address
4. Presence of mind in case someone robs you &#; listen &#; you never know. Don’t bring unnecessary things when you go here. Leave your bling at home. Pretend you’re going to Divisoria.

Step-by-step litecoin purchase process:

I didn’t create a paper wallet from this machine so for this process, I’m going to assume you already know where to send your litecoin.

Step 1:

Select Buy Coins from the main screen.

Step 2:

Type in your mobile number in the Identity Verification screen.

Step 3:

Agree to the Terms and Conditions of Service because what choice do we really have if we want to use this ATM&#;

Step 4:

Type in the SMS code that was sent to your phone.

Step 5:

Select Litecoin.

Step 6:

You can scan your wallet’s QR code using the scanner on the right hand side of the machine or type in your address manually (error prone!!!).

Step 7:

You can take a screenshot from your phone and then just use that or print the QR code.

Step 8:

If you’re having trouble scanning your wallet or realize you’d rather create a new wallet, you can still do so.

Step 9:

Start cold sweating as you insert your peso bills.

Step

Watch and be fascinated as the amount is registered as LTC on the screen.

Step

Print the receipt. Keep it as your souvenir.

Step

Voila! Wait a couple minutes for your wallet address to be loaded with the same amount of LTC that was printed on your receipt.

Overall thoughts

Buying litecoin from this bitcoin ATM was a pretty smooth experience and the spread is definitely not bad. If you don’t have access to LTC, this has to be your best bet because you won’t have to deal with exchanging your BTC for LTC anymore. You can have it directly as LTC.

My only concern here is safety. I definitely don’t recommend going here by yourself and at night.

I&#;m not sure if there are other bitcoin ATMs in Manila but so far I’ve only tried this one in Sunette Towers. If you&#;ve tried other machines, let me know in the comments section!

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Источник: [www.oldyorkcellars.com]

PureCoin - Bitcoin ATM. Bitcoin Barrel offers reviews of the most popular Bitcoin faucets, casinos, games, videos and other crypto-currency resources. PureCoin 0. ATM cash withdrawals at ATMs displaying the Visa logo by inserting your Purecoin card at the ATM, inputting your PIN and following the instructions at the ATM; 7. As well as, Search for other ATM Locations on The Real Yellow Pages&#;.


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Final Verdict

There are lots of options when it comes to Bitcoin debit cards. Whether you’re looking for a card that offers impressive cashback rates, supports lots of different currencies, or charges few fees, there are various cards to choose from. Overall, our top pick for a Bitcoin debit card is Coinbase.

You can use the Coinbase Bitcoin debit card anywhere Visa is accepted, making it one of the most versatile and flexible cards available. It supports up to nine cryptocurrencies and automatically converts your preferred cryptocurrency in your Coinbase wallet. The card comes with robust security features to protect your funds, and you can make purchases both online and in stores.

Compare the Best Bitcoin Debit Cards

Guide to Choosing the Best Bitcoin Debit Cards

Do You Need a Bitcoin Debit Card?

Whether or not a Bitcoin debit card makes sense for you depends on whether you use cryptocurrency. If you’re content with a regular debit card and don’t regularly use cryptocurrency to make purchases, then a Bitcoin debit card may not be necessary. On the other hand, if you regularly favor cryptocurrency over fiat currency when shopping, a Bitcoin debit card could make your life easier.

Here are the pros of a Bitcoin debit card:

• Spend cryptocurrency even at venues that don’t typically support it
• Ability to earn cashback rewards in cryptocurrency for transactions
• Many cards support multiple types of currency
• Robust security features to protect your account

Here are the cons of a Bitcoin debit card:

• Many cards charge fees
• Not all Bitcoin debit cards are available in all areas
• High volatility makes cryptocurrency less predictable than fiat currency
• May not be necessary if you don’t shop using cryptocurrency

Comparing Bitcoin Debit Cards

When comparing Bitcoin debit cards, there are a few features that you should be sure to take into account. These include:

• Fees: Many, but not all, Bitcoin debit cards come with fees. These can include monthly maintenance, foreign transaction, and ATM withdrawal fees. You should look for a card that charges as few fees as possible.
• Rewards: Some Bitcoin debit cards come with rewards like cryptocurrency cashback. These rewards can seriously boost your earning potential, so it’s good to look for cards with generous cash back.
• Supported currencies: Not all Bitcoin debit cards support other currencies. Depending on what type of cryptocurrency you prefer, you should choose a card that supports it.
• Availability: Some Bitcoin debit cards are only available in certain geographic areas, such as the EU or U.S. You should look for a debit card that works where you live.
• Other perks: Added perks are a nice additional bonus for Bitcoin debit cards. These can include basic perks like waived ATM fees and unique ones like free Spotify memberships.

Applying for a Bitcoin Debit Card

After you’ve decided which Bitcoin debit card works best for you, you’ll need to apply for a card. To use a Bitcoin debit card, there are a few steps you’ll need to take, including:

• Creating a Bitcoin wallet
• Buying Bitcoin from a reputable exchange
• Connecting the card to a wallet
• Funding the card
• Using the card to make purchases

Some cards require users to validate their identity before being approved. Others require users to purchase a card or make an investment in the card’s native currency. You can transfer Bitcoin from the debit card to fiat currency via an exchange or Bitcoin ATM.

Frequently Asked Questions

Methodology

We looked at nearly a dozen Bitcoin debit cards for this review. Our first consideration was to find cards that were easy to use and created a seamless transition from cryptocurrency conversion to purchase or withdrawal.

Security was also important, and we made sure to choose cards that offered the same level of security as traditional debit and credit cards as well as quick ways to freeze or cancel a card. Although price wasn’t a prime factor, we did highlight a few cards with low to no fees as well as those that offered cashback and other perks.

Not considered to be an official form of currency, earnings are subject to tax law.

The Financial Market Authority (FMA) has warned investors that cryptocurrencies are risky and that the FMA does not supervise or regulate virtual currencies, including bitcoin, or cryptocurrency trading platforms.^{[14]:&#;30–31&#;}

Croatia's Financial Stability Council warned investors about the risks of virtual currencies, such as digital wallet theft and fraud, on 18 December The National Bank of Croatia issued a similar warning on 22 September ^{[14]:&#;33&#;}

Businesses and individuals who buy, sell, store, manage, or mediate the purchase or sale of virtual currencies or provide similar services must comply with the anti-money laundering law.^{[14]:&#;33–34&#;}

Bitcoin is classified as an intangible asset (not as electronic money) for the purpose of accounting and taxes.^[][]

On 19 Augustthe German Finance Ministry announced that bitcoin is now essentially a "unit of account" and can be used for the purpose of tax and trading in the country, meaning that purchases made with it must pay VAT as with euro transactions. It is not classified as a foreign currency or e–money but stands as "private money" which can be used in "multilateral clearing circles", according to the ministry.^[][] The Bundesbank says that bitcoin is not a virtual currency or digital money. It recommends using the term "crypto token."^{[14]:&#;41&#;}

In Novembera legislation passed by German parliament allows the banks to sell and store cryptocurrencies starting from 1 January ^[]

The use of bitcoin in Poland is not regulated by a legal act at present.^{[3]:&#;Poland&#;}

Szymon Woźniak of the Ministry of Finance made an official announcement on the legality of bitcoin on 18 December at a conference at the Warsaw School of Economics stating that the Ministry of Finance does not consider bitcoin illegal and does not want to hinder its development.^[] He clarified that while not illegal, bitcoin cannot be considered legal tender, and, in the light of the directives of the European Union, it is neither electronic money.^[] As of 27 Januaryseveral banks have closed accounts of clients trading bitcoin, and indicated "presumption of criminal offense" as the cause, with "criminal offense" presumably being "cryptocurrency trade".^[] As of 7 Julythe National Bank of Poland (NBP) and Financial Supervision Authority (KNF) issued a comment on virtual "currencies".^[] They underlined that virtual currencies (including bitcoin): (1) are not issued or guaranteed by the central bank, (2) are not money, i.e. they are neither legal tender nor currency, (3) can not be used to pay tax liabilities, (4) do not meet the criterion of universal acceptability in shopping and service points, (5) are not electronic money, (6) are not payment services (in legal terms), (7) are not financial instruments (in legal terms). They added that trading virtual currencies in Poland does not violate national or EU law, however, having virtual "currencies", involves many risks: (1) risk related to the possibility of loss of funds due to theft, (2) risk related to lack of guarantee, (3) risk of lack of universal acceptability, (4) risk related to the possibility of fraud, (5) risk of high price change. Because of these risks, the NBP and KNF warn against buying virtual currencies and investing in them. The NBP and KNF recognize that the purchase, possession and sale of virtual currencies by entities supervised by the KNF (e.g. banks) would be burdened with high risk and would not ensure a stable and prudent management of the financial institution. Financial institutions should be cautious about engaging and cooperating with virtual currency "trading" entities.

As of Marchan official statement of the Romanian National Bank mentioned that "using digital currencies as payment has certain risks for the financial system".^[]

In Octoberthe National Fiscal Administration Agency (ANAF) declared that there is a lack of a legislative framework around bitcoin, and therefore, it is unable to create a tax regulation framework for it as well (implying no taxation).^[]

In JanuaryLaw nr. 30/ clarifies that starting inincome from trading "virtual currency" is classified under "income from other sources". Income statement and retained earnings example addition, there is a new subpoint, Article (2) c), specifying that the income tax of 10% is only applied on the "positive difference between the selling price and acquisition price" (and not to the entire received amount from a sale). In addition, profits under RON per transaction that total under RON during a fiscal year are exempt from tax.^[]

The National Bank of Slovakia (NBS), stated^[] that bitcoin does not have the legal attributes of a currency, and therefore it cannot be considered a currency.^{[note 1]} European legislation, including the Slovak law, does not define the activities associated with virtual currency. Such activities are not regulated and supervised by the National Bank of Slovakia or the European Central Bank. At the same time NBS points out that any legal person or natural person in the Slovak Republic shall not issue any notes or any other coins. Unlawful manufacturing of banknotes and coins and putting them into circulation is punishable by law. In this context, NBS points out that virtual currencies have not a physical counterpart in the form of legal tender and participation in such a scheme (virtual currency) is at your own risk. Exchanges or purchases of virtual currencies represent the business risk of investors and investors' money are not protected. For any compensation of losses caused by such exchanges or purchases there is no legal entitlement.

On 23 December the Slovenian Ministry list of bitcoin atm in philippines Finance made an announcement^[] stating that bitcoin is neither a currency nor an asset. There is no capital gains tax chargeable on bitcoin, however bitcoin mining is taxed and businesses selling goods/services in bitcoin are also taxed.

Bitcoin businesses in Switzerland are subject to anti-money laundering regulations and in some instances may need to obtain a banking license.^[]

On 5 Decembera proposal was put forth by 45 members of the Swiss Parliament for digital sustainability (Pardigli), that calls on the Swiss government to evaluate the opportunities for utilization list of bitcoin atm in philippines bitcoin by the country's financial sector.^[] It also seeks clarification on bitcoin's legal standing with respect to VAT, securities and anti-money laundering laws.^[]

In response to the parliament postulates, the Swiss Federal Council issued a report on virtual currencies in June ^[] The report states that since virtual currencies are not in a legal vacuum, the Federal Council has concluded that there is no need for legislative measures to be taken at the moment.

InZug added bitcoin as a means of paying city fees, in a test and an attempt to advance Zug as a region that is advancing future technologies.^[]Swiss Federal Railways, government-owned railway company of Switzerland, sells bitcoins at its ticket machines.^[]

InFINMA stated that it would take a "balanced approach" towards the cryptocurrency industry and allow "legitimate innovators to navigate the regulatory landscape", list of bitcoin atm in philippines. By Junea record number of Exchange Traded Products (ETP) and crypto structured products were offered on the SIX Swiss Exchange with a total trading value of CHF billion.^[]

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Located in one of the hotels in Poblacion, Makati is this bitcoin ATM machine:

(Yes, list of bitcoin atm in philippines, yes, I know &#;ATM machine&#; is automated teller machine machine.)

And yes, Poblacion is where the famous P. Burgos St. can be found.

For the uninitiated, P. Burgos is famous because it is a known red light district. BUT! In case you haven’t been there recently, it’s actually been turning into a hipster spot with fancy coffee shops and cool new restaurants.

The hotel where this bitcoin ATM is located is called Sunette Tower. If you&#;ve ever heard of A&#;Toda Madre, it&#;s in that same hotel.

It opened for business about list of bitcoin atm in philippines years ago in Maymaking it one of the first bitcoin ATMs in the Philippines. The first one was a &#;traveling ATM&#; installed by www.oldyorkcellars.com back in I actually didn&#;t know these ATMs even existed until I saw posts about it on the Cryptocurrency Philippines Facebook group. When I saw a bunch of people posting selfies at this ATM, I knew I had to check it out.

The hotel isn&#;t hard to find but if you&#;re taking an Uber or Grab, list of bitcoin atm in philippines, you may want to pay close attention as it&#;s easy to make a wrong turn.

When you get to the hotel, just go straight and then make a left where the elevators are. The guards don&#;t ask questions; it seems they&#;re used to people just going straight for the ATM.

This machine allows you to buy two cryptocurrencies: bitcoin and litecoin. You can also withdraw. But for this post, I can only tell you about my litecoin purchase. I’ll write a separate one when I withdraw!

But first: How&#;s the spread?

I’m going to show you my handy dandy spreadsheet again and compare my purchase with Coinbase&#;s as it is the most popular place to buy litecoin in the US. Coinbase is not open to Philippine citizens as of this writing.

Note that the Coinbase fee increases as the amount you’re buying increases. The numbers below are based off my ₱2, LTC purchase that I did via the ATM. In USD that is $40 if we use the USD/PHP rate of $1:₱ The usual Coinbase fee for credit card purchases of $ and above is %.

I’m also not sure if this bitcoin ATM charges separate fees as I didn’t see it broken down during my entire process of buying. I’m assuming the fees are already baked in the sell price.

Dat price difference doe! Not bad, right?!

I was actually thinking of buying bitcoin but because I just bought some from www.oldyorkcellars.com, I thought I’d switch it up a bit and try litecoin for those wanting to buy.

ALSO READ:I bought bitcoin at a 7-Eleven in Manila and compared how much BTC costs at Coinbase vs. www.oldyorkcellars.com

The process is pretty straightforward but here’s a quick list of the things you’ll need before you head there:

1. Your phone
   • You’ll need this to verify your identity because they’ll send you a code via your mobile number
   • You will also need this in case you don’t have a printed version of your QR code address
2. Cash that you’ll be depositing to your litecoin account
3. Your litecoin wallet address
4. Presence of mind in case someone robs you &#; listen &#; you never know. Don’t bring unnecessary things when you go here. Leave your bling at home. Pretend you’re going to Divisoria.

Step-by-step litecoin purchase process:

I didn’t create a paper wallet from this machine so for this process, I’m going to assume you already know where to send your litecoin.

Step 1:

Select Buy Coins from the main screen.

Step 2:

Type in your mobile number in the Identity Verification screen.

Step 3:

Agree to the Terms and Conditions of Service because what choice do we really have if we want to use this ATM&#;

Step 4:

Type in the SMS code that was sent to your phone.

Step 5:

Select Litecoin.

Step 6:

You can scan your wallet’s QR code using the scanner on the right hand side of the machine or type in your address manually (error prone!!!).

Step 7:

You can take a screenshot from your phone and then just use that or print the QR code.

Step 8:

If you’re having trouble scanning your wallet or realize you’d rather create a new wallet, you can still do so.

Step 9:

Start cold sweating as you insert your peso bills.

Step

Watch and be fascinated as the amount is registered as LTC on the screen.

Step

Print the receipt, list of bitcoin atm in philippines. Keep it as your souvenir.

Step

Voila! Wait a couple minutes for your wallet address to be loaded with the same amount of LTC that was printed on your receipt.

Overall thoughts

Buying litecoin from this bitcoin ATM was a pretty smooth experience and the spread is definitely not bad. If you don’t have access to LTC, this has to be your best bet because you won’t have to deal with exchanging your How to invest money in share market for beginners in tamil for LTC anymore. You can have it directly as LTC.

My only concern here is safety. I definitely don’t recommend going here by yourself and at night.

I&#;m not sure if there are other bitcoin ATMs in Manila but so far I’ve only tried this one in Sunette Towers. If you&#;ve tried other machines, let me know in the comments section!

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