GCash is a Philippine digital wallet that lets users send and receive money, pay bills, pay online purchases, and buy ETH and other cryptos, which is our main topic for today. The crypto scene in the Philippines is hot, and many people are trying to hop in but the credit card penetration rate is very low, even for debit cards. As an alternative payment method, GCash is one of the best.
GCash is comparable to PayPal but with a more diversified features specifically useful in the Phillippines. And with almost 50 million active users, GCash is undoubtedly the Philippines leading digital wallet, far beyond others.
How to use GCash
Although GCash is used in the Philippines, you can still access GCash from overseas. And all you need is a phone and any Philippine mobile sim/network with an activated ‘Roaming‘ feature so it can still be used while overseas.
Since GCash is affiliated with thousands of third-party vendors, purchasing items and cryptos online is relatively easy. But for starters, your GCash account must be fully verified to send or transfer funds to other accounts or make payments.
And all you need is to provide basic information such as your name, Philippine address, a selfie, and a valid ID. The verification process could take up to 7 days, and once verified, you’re free to perform purchases and other transactions using the GCash app.
How to Purchase Eth Using GCash
So, I did some research and found out that there are several ways to purchase cryptos using GCash online. Though some require tedious steps, others are a bit questionable in terms of security. Luckily, I found two easy and secure alternatives. And that is through Coins.ph and Binance.
Coins.ph
Coins.ph is also a digital wallet, much like GCash. Though it’s not as popular as GCash, you can convert the Philippine peso to ETH, BTC, XRP, and other notable cryptos with their app.
Why use GCash when you can do it with Coins.ph in the first place?
That is a valid point. However, most Filipinos haven’t even heard of Coins.ph, let alone have an account with it. The downside to this alternative is you’ll need to make another verified account with Coins.ph with your valid information.
You’re all set if both your GCash and Coins.ph accounts have been verified. And then follow the instructions below:
Step 1. Open your GCash App and click the “Bank Transfer” option below.
Step 2. You should see several Partner Banks on the next screen. Click the three dots or “View All” option > Then type “coin” or “Coins.ph,”> And type the amount you want to transfer > then click “Send Money.” Another screen will appear, then click “Confirm” once you’ve verified all the information.
Step 3. Afterward, open Coins.ph app to convert your funds to Ethereum.
Step 4. You’ll see an option for “Crypto” at the bottom. Simply click on it.
Step 5. Then choose “ETH” and click “Convert” your funds to Ethereum > Click “Buy“> And then enter your desired amount, or you can also choose to “Convert All.”> Then finally, “Slide to Convert.”
Now that wasn’t too hard, was it?
Binance
For Binance, all you need is a verified GCash account and a verified Binance account. Next, you’ll just have to link your GCash with Binance. And here’s how:
Step 1. Login to your account > Launch the app > Then click “Wallets” at the bottom right corner of your screen.
Step 2. At the top of your screen, click on “Funding“> then click on “P2P.”
Step 3. Choose any crypto you’d like to purchase > then click “Payment Method,” and you’ll see an option for GCash.
And voila! You’re good to go. Just proceed with payment, and that’s a wrap.
As you can see, this method is more straightforward compared to the first alternative using Coins.ph. And the verification process for Binance isn’t that hard as well. It’s something that can be done in just a matter of minutes. So I highly suggest you get a Binance account instead.
Conclusion
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