When I'm not yet discovered the P2P of Binance, I'm always using coins.ph. Even it takes a long time to receive my BCH, I always used it because there are no other ways to convert my BCH that I know and simple.
Even I already know that Binance has P2P that we can convert your token to our fiat, I'm not trying it because It needs KYC and I think it's taken too long to approve it. That's why I preferred to use Coins.ph because it's already verified by my mother.
I never try to use the P2P in Binance until I need to convert money because of the coins.ph already limit.
Coins.ph have limits in Cash-In. It's only ₱100,000 a month because it's only level 2. We need to verify our address to make it higher but we can't because the electric bill of my father is disapproved and my mother doesn't have a bill.
We already Cash-In ₱70,000+ in a month before and we immediately need to withdraw worth of ₱50,000 in a few days. We tried to make my father's account but it's always rejected and we don't know why. The ID is disapproved while the selfie is still not finished. We already tried it before and it's always the same too.
We need to withdraw at least ₱50,000 because we need it in a few days. We already Cash-In ₱70,000+ in a month and we can only Cash-In worth of ₱30,000. It's not enough, so we find a way to convert money in the other apps.
Note: I'm not the only one using that account. My brother also Cash-In there and withdraws money.
We immediately need money for our house so we need to withdraw money. Our money is in BCH and we need to convert it to Peso using Coins. ph
I thought it takes a few days before my mother's account will be verified. It says it will take 10 days before it will verify, that's why I never tried to make an account there because 10 days is too long.
My brother said, try it and see what happened. So we submit a valid ID and a selfie of my mother. Until a few hours, we visit the account and already verified it.
It's December when we tried to use this P2P in Binance. This is my first deposit in Binance. I'm trying if I will receive it fast than Coins.ph and in a few minutes, it's already added to my account. I'm scared that I will not receive it so I tried to send it only worth $20 and try to convert it using P2P.
I convert my BCH to USDT first so I can use it for P2P. I converted it to USDT and put it in the Funding wallet. I only tried $20 to make a test if it's good or not. If it's faster and safe.
Before I sell it to our fiat, I watch a video tutorial on YouTube on how It's working. What will I do next? I'm so scared to lose my money, so I want to be sure if I will receive it after a few minutes.
This is my first time using a P2P transaction. Sometimes, it only takes a few minutes and I have already received it. I pick only 15 minutes time frame because I only need to wait a maximum of 15 minutes.
I put it in GCASH then transfer it to my father's bank account. I don't want to direct it to my father's account because I don't know if the bank of my father will be closed. I'm just want to be sure that it's safe.
After my test tries, I send my BCH and sell it to fiat. It's safe and we have already withdrawn it. It's faster and easy to use.
But even I used P2P, I also used the coins.ph account to withdraw. I don't want that my mother's GCASH will be limited too because my mother always used her Gcash than coins. ph. She used it when someone paying her and when she is buying a load.
Thanks for reading ❤️