Thinking of Using Steem to Send Money to Someone in Philippines. Filipinos/Filipinas Please Help!
Hi Steemians from Philippines,
Kumusta, po?
I need to send some money to someone in Philippines but as you know Western Union is expensive and it takes a big cut out of the amount I pay, I was thinking of using Steem to send money. Why not!
Image Source: Pixabay (edited by me)
Once I sent money to Philippines via WU and it took almost 33 % of what I paid! That's cruel. On the other hand, I can send Steem free of cost. Zero transfer fees. Instant transfer within 3 seconds.
I need your help. You can help in two ways.
1. Cheapest Withdraw Method in Philippines?
It would be nice of you to share the cheapest way (which means lowest fees) to convert Steem to Philippines Peso. In this way, we can adopt an alternative, faster and cheaper way of sending money to your people if needed.
2. I Send Steem to You, You Send Peso to the Person
This is the fastest available method. I will transfer Steem to your account and you send equivalent amount (minus the transfer fees you bear, if any) to the person intended to receive money.
- It will be super fast.
- The person will get more money than if I send via WU.
- Steemit community achieves new levels of awesomeness and innovation by using people-to-people direct transfers.
Now how is that! I'm already excited! Hope to find an answer soon. Please resteem and share in your Philippines communities.
To take Steem out from your account and give to another person without charges requires that both of you are in Steemit.
To send directly to another person, it seems you will need to convert it to BTC first. And that person can withdraw it to their local wallet here like Abra or Coins.ph or others.
Actually what he meant was that he will send steem to a fellow filipino steemian. Who would be willing to take steem or sbd and then make the transfer from his own bank in local currency (peso in this case) to the intended person..
This doesnt involve fellow filipino steemian to actually convert the steem to btc and then to peso. He/ she will just take steem and transfer peso from their own savings. It will be like he/she has purchased steem..
Hope it clarifies??
That is exactly the kind of superfast superefficient help that I want. Thanks for clarifying.
Abra and coins.ph
Thanks! That's a great bit of help. Can there be a case where I send Steem to a Steemian and he/she sends Peso to the person I want to send money?
Looking for that!
This is a brilliant idea.. thats what the blockchain was intended for. To take out the middle man who would eat up your own money just to provide a service that shudnt cost this much..
Very very good work. Earlier, i read a post where a steemian intends to open a restaurant and take steem / sbd as modes of payment.. bingo...
I'm a fintech freak. I love the idea of being able to send $30 from Pakistan to any part of the world with minimul costs. If the receiver can get $28 or more into his/her account, it is an incredible feat. I want this to happen!
Brilliant idea...
Thanks
Yes it is awesome feature of blockchain technology that transfer of money is very easy and in least time. Thanks for sharing such informative post.
The future indeed is bright. TenX card and similar start ups and products are making cryptocurrency available to all. Developing countries like ours are going to be the last beneficiaries. Sad...
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by ilyastarar from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.