This article talks about a filipino with paypal account and wants to use the paypal money to fund the uphold crypto exhange account.
Uphold has facilities on how you can fund your account. For this article it will be from your paypal account which is not available in Uphold.
This is for Filipinos that has a paypal account, and dont have any bank accepted by uphold or dont want to use their bank details and dont have cryptos to transfer to their uphold account.
Solutions on doing this is to convert you paypal money to a crypto so you can then send it to your uphold cryto wallet.
So how to convert paypal money to a crypto. Let;s start, as a Filipino you can avail of the GCASH and Coins.ph, you need these two. GCash to get your money from paypal to your peso account in gcash. Then Coins.ph to convert your Cash to a crypto. Since coins.ph dont support paypal links yet, so we use gcash.
Open you gcash account and then link your paypal account. Once you have linked the accounts together, do a in cash in gcash and use paypal for the cash in.
Usually a few minutes, you will get an sms message confirming it. Now lets see my starting and new gcash account
Below is my current gcash account before the transfer from paypal to gcash
A fresh to see if the money from paypal has been transfered. Ignore the tme I checked it after sometime but I did got the sms message.So noticed it has P1000 now. I've checked Paypal and no deductions, so the transfer from Paypal to Gcash has not transfer fee.
Now we need to move the cash from Gcash to Coinph, where we can convert it to cryptos.
In your Gcash you can do a bank transfer, from gcash to coins.ph. They have an instruction there. Notice the P15 transfer fee below.
After the confirmation, you will sms messages regarding the transfer. Notice the P15 charge.
Now, we will check my coins.ph start and new with the transfer. Below is my starting coins.ph and the after the transfer.
Below is my Coins.ph starting
A refresh to see if the transfer has been completed
Now that we have our money in coins.ph coming from paypal passing gcash, with a fee from gcash to coins.ph. So now we can convert cash to crpytos.
In your coins.ph account you can then convert the cash to any cyrpto avaiable, they have BTC, XRP, ETHER and Bitcoin Cash. You can use any of those. for fast moving like BTC you might have some difficulties in transfer to your desired amount since the exchange price moves so fast. Another thing to consider is the high and low price of the crypto, Exchange your cash to a crypto that is low at the transfer time, meaning your peso can buy more of the crypto.
In here, im converted to btc. Below is the start of my btc in coins.ph
Then I made a convert from Php to BTC, See below the worth of BTC is my PHP. The means i have the BTC added now.
To show another example, I did a crypto to crypto exchange, from BTC to XRP. See below same amount of BTC from cash to its worth in XRP. Notice the notification of the volatile exchange prices.
Now, I have XRP crypto. I can use the BTC to transfer to my Uphold, but since I converted BTC to XRP I will be transfering to my Uphold account the XRP.
Now we send coins.ph xrp cryptos to uphold xrp crypto. Notice the details its less than the Php Cash equivalence, meaning the value differed since prices changes and to conside the exchange fee. So i have to adjust the amount of xrp to transfer that the total can still accommodate the xrp fees
See below an sms verification to confirm your transfer of the crypto from coins.ph to your uphold wallet.
Now, let see if the xrp from coins.ph has been transfer to my uphold xrp wallet. Below is the starting of my XRP in uphold
Below is the new xrp in my uphold account. Notice the peso value, compare it the vlaue before I transfered it.
Now, we have XRP in our uphold account the we can. So the value is less than the actual PHP form paypal, due to transfer fees and price changes. So take that into consideration on when you want to withdraw your money from Upload, that you have those transfer fees to be part of your target.