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| © Coins.ph |
What is Coins.ph?
In simple terms, Coins.ph is like your wallet, an online wallet where you can add money and use that money to buy something, pay something, and even send that money instantly to anyone with Coins.ph account for free or send that money through any of their partners for a minimum fee using your computers or smartphones.
Coins.ph is also one of the trusted platforms in the Philippines where you can buy and sell or trade bitcoins. It is licensed by the Bangko Sentral ng Pilipinas (BSP) to operate virtual currency-related business in the country such as bitcoin.
Aside from being a trust-worthy platform to trade BTC in the Philippines, Coins.ph is also one of the easiest platforms to use since they have various legitimate partners such as big banks, money remittances and payment centers, convenience stores, and some of the biggest department store operators in the country.
With that in mind, you can be assured that Coins.ph is legally operating in the Philippines and that you can entrust your hard-earned money to this company.
Also Read: List of bills you can pay using Coins.ph
Aside from being a trust-worthy platform to trade BTC in the Philippines, Coins.ph is also one of the easiest platforms to use since they have various legitimate partners such as big banks, money remittances and payment centers, convenience stores, and some of the biggest department store operators in the country.
With that in mind, you can be assured that Coins.ph is legally operating in the Philippines and that you can entrust your hard-earned money to this company.
How to Sign up to Coins.ph and What's the Requirements?
REMEMBER: In order to get the 50.00 pesos signing bonus, you must use a referral link or referral code when creating your Coins.ph account for the first time.In order to sign up to Coins.ph and create your account, you need to have an email address or phone number, that is the basic requirements for your to start your account at Coins.ph. If you already have any of that, you are now good to go and can now begin creating your own Coins.ph account through this link.
After signing up, you need to verify your account in order to start using their services because you need to be at a certain level to start using their services. You need to be at least in level 1 to be able to add money to your Coins.ph account. (see images below for the limits per level)
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| Coins.ph daily cash in and cash out limits per level |
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| Coins.ph yearly cash in and cash out limits per level |
- Level 1 — Email Verification (You can start adding money to your account with 2,000 daily/50,000 yearly cash in limits, no cash out)
- Level 2 — Phone, ID, and Selfie Verification (Bigger cash in and cash out limit up to 50,000 daily/400,000 yearly. Aside from that, this is also the stage where you will be able to receive your 50 pesos sign up bonus and be able to earn referral rewards when you invite others to sign up and get verified)
- Level 3 — Address Verification (Just like level 2 but with more daily cash in and cash out limits of up to 400,000)
- Custom — You need to contact Coins.ph team
- Business — Business Verification
In my case, I felt level 2 is enough for me so I didn't submit address verification, but it will still depend on what you need, if you feel you need more daily cash in and cash out limit, you can always submit verification for level 3.
Remember: If you sign up using a code or Coins.ph referral link, make sure to submit verification for level 2 to receive the 50.00 pesos and be able to earn using your referral links too.
Why is Selfie Verification Needed in Coins.ph?
Coins.ph and other institutions which involves money are strictly regulated by the government [if I'm not mistaken they are regulated by the Bangko Sentral ng Pilipinas (BSP)]. If you can remember, banks are very strict in accepting members and are asking for at least two valid and government-issued IDs in order for you to open an account. That is because they want to adhere to the regulations of the government especially regarding the money laundering, and since you can also use Coins.ph to hide and transfer money here and abroad, they need to know you as their customer, that you are a real person and not a fake person or dummy person so as to avoid being penalized by the government.Your Coins.ph Account: PHP Wallet vs BTC Wallet
After creating your Coins.ph account, you will be having two (2) different wallet addresses. Just like your bank account where you can have a different account for a specific currencies like when you open a Peso and Dollar account— these accounts of course has different account numbers, and just like that, your Coins.ph account has different wallet address, and the good thing is you get both by default unlike banks where you need to apply to have these separate accounts.
Read below for the summary of the difference between your regular peso wallet and your btc wallet.
Peso Wallet
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| A screenshot of my Coins.ph Peso Wallet |
In your Peso Wallet, the value of your money does not change and won't get affected by any currency exchange rates. If you add 100 pesos in your Coins.ph account, you will exactly have 100 pesos in your Coins.ph Peso wallet after a year without touching them. See Coins.ph detailed explanation on their peso wallet here.
BTC Wallet
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| A screenshot of my Coins.ph Bitcoin Wallet |
In your BTC Wallet your BTC amount won't change but the value of it changes as it is affected by the exchange rate of BTC/PhP (or whatever is the rate of the currency you want to exchange your bitcoins too because you are not limited to Philippine Peso only but all other currencies) . For example, if you buy 1 bitcoin at the rate of 400,000 pesos per btc, and after a month the sell rate goes up to 450,000PhP per 1BTC, the value of your 1BTC goes up and if you sell them you get 50,000 pesos. Same thing if it goes down, the value of your btc changes so you will lose. Here's a detailed explanation from Coins.ph on their bitcoin wallet.
So What Coins.ph Wallet Should You Use?
So you're asking what's the best Coins.ph wallet to use? Well, I'll say you use both but put your money in your Coins.ph Peso Wallet if you want your money to be safe. When you cash in, it's also better to add your money to your Peso Wallet so that it won't change over time and may be used for you to buy load, pay bills and even shop online, it's the appropriate wallet to use for such purpose. But if you also want to earn extra income in trading, you can put your money in your BTC wallet and convert it back when you get a profit because you can always convert your Peso amounts to BTC and vice versa in Coins.ph, anytime, anywhere.How Coins.ph Works?
Now that you are already familiar with the basics of Coins.ph accounts and its levels, let's talk about how Coins.ph works and how can you leverage this technology to your advantage and make your daily life easier and hassle-free.
Being an online wallet, Coins.ph works by adding fund to your account (that's what they call cash ins or adding money to your account). It works like a debit card where you get to spend the money you have added (you can't spend an amount that's not in your account, it doesn't work like a credit card) on your account to various partner stores and other services they offer.
For your reference and further reading, I have also written about the various ways on how to top up and add money to your Coins.ph account including cash in methods that are free of charge which I always love to use. (How to cash in money to your Coins.ph Account for Free)
Also Read: Things you can buy or pay using Coins.ph
For your reference and further reading, I have also written about the various ways on how to top up and add money to your Coins.ph account including cash in methods that are free of charge which I always love to use. (How to cash in money to your Coins.ph Account for Free)
How can you earn with Coins.ph?
There are various ways to earn extra income in Coins.ph from as low as 1 peso rebate when you buy load credits to any Philippine cellular networks to even earn thousands by trading bitcoins. Here are some of the most common ways people are earning in Coins.ph:
- Invite Someone (Referral Program)
- Sell Airtime Load
- Pay Bills
- Trade Bitcoins
- Earn through their Promotions
Also Read: How to earn extra income using Coins.ph
I hope you won't stop learning. Read more online about Coins.ph reviews so you will have a good understanding of how it works and how can you use it and apply it in your daily life.
If you are ready to learn about Bitcoins and how to buy them using Coins.ph, just read on our next article: How to buy and sell or trade btc in the Philippines using Coins.ph.
nice post..Can I copy this? And reblog to my own?
ReplyDeleteFeel free to cite this blog and link it in your posts as your source if you will copy some statements from this blog, but it's inappropriate to entirely copy a blog post and post in in your own blog.
Deleteokay thank you.
ReplyDeleteJust in today , dahil sa cocolife iniwan ako ng kasama ko sa mall dhil ang tagal ng discussion nila , hey maganda at convincing yon mga agent nila i even love the promo but i dont know that it will took almost 2 hours sa office tatlo ang kumausap skin pina inquire p nila kng active ba ang bank account ko,, para maconvince ako nagsalitan na sa pkikipag usap ang tao dun sa office pero one thing hind ko tlga kinagat is yon magpamember sa knila or bumili ng policy nila its seems their explanation is true pero hind tlga ako nag bitaw khit peso ,, halos hold upin nila ako or ipakalkal ang wallet ko , my discount na nung naglaon ang usapan pero todo tanggi ako wla ako dala khit sa amount na gusto nila ang pinakakababa na amount pero hind ako nagpadala tlga at masakit na likod ko kakaupo kasi napnsin ko na napoforced nko sa sitwasyon na , ,, ang nasa isip ko magbukas nga lng ng bank account e mahirap na ano p kya ang e claim ang insurance mo,, ayaw makipagsapalaran sa bagay na dko pinag aralan ng maigi bgo mag move,, so i end up with no pero my raffle ticket parin namn ako, kng manalo ako ng 100k dun e din bka sasali ako sa insurance na yon ,, inuto inuto nla ako ng bongga kaso di sila nanalo skin , kala ko yon sbi 20k free insurance mapunta skin yon khit hind ako bibili sounds great nung nagbasa na ng amount na pwdi pagpilian dun ako nag decide ako maglalabs ng khit peso ,, or e swipe card ko sa terminal nila para matransfer pera sa knila ,, big trouble ito sa husband ko dhil lahat ng transaction e online nya gingawa ,, sa subrang laks nila magconvince ng tao gusto p nla tawagan ko asawa ko para mapabili nla ako sa policy nila nanindigan ako hind ako maglalabs ng anong amount dhil my pinaglalaanan p ako ,, sumakit likod ko kakaupo lahat pinansin nila sa katawan ko at sbay sbi my mamahalin ako alahas or nakapag shopping nga ako bkit hind sa insurance ,, still hind ako nagpabula tlga ,, dbali nang wla ako insurance wag lng masabihan money face ,, higit sa lahat ayaw magdesisyon ng wlang consultation sa husband ko lalo n pagdating sa pera ,,
ReplyDelete