Coins.ph Review – The Ultimate Digital Wallet for Filipinos

Earn P50 for every person you referred who gets to register and have their accounts validated thru the site or referral code: fjwaff on the app. Download from Google Play.

Due to the overwhelming response from my officemates about my previous post about Bitcoins, I was motivated about writing about one of the Bitcoin Wallets I frequently use for day-to-day transactions – Coins.ph. Full details are listed on their site but here I will just give a rundown of what they has to offer. 

 Brief Background

• started around 2015
• featured in GMA News -see Link
• SEC-registered and regulated
• partnered with different merchants, banks, remittance centers, billers, institutions in the Philippines to provide services they do today
• one of first bitcoin sellers here in the Philippines where you can easily purchase bitcoins via trusted gateways or as simple as using the mobile app
• an exchange – because it lets you exchange conventional money (like Philippine peso) to Bitcoins and vice versa. Hence it serves as a bridge for our bitcoins to be encashed or our cash to be saved as bitcoins

Coins.ph Walkthrough

Features:

1. Secure Way to Save Philippine Pesos/Bitcoins – as long as your account is two-factor enabled. As a bonus, your account will never be frozen unlike in your bank. You can have your funds in Philippine Pesos in which the value will never change.
2. Great Way to Invest Hard-Earned Cash with higher interest rates than regular mutual funds, stocks, or savings can offer. As discussed in my previous blog, BTC has grown above 800%, so I guess it’s not bad to earn passively from this just by keeping your money on this wallet, instead of settling at 0.25% rate at the bank. 800% returns is not guaranteed, but it is guaranteed that BTC growth rate is higher than bank prevailing rates.You can have it in Bitcoins in which it’s equivalent Peso value fluctuates depending on the BTC-PHP exchange rate which will give you opportunity to earn by riding the BTC growth rate. However, my advise is if you would like to earn from BTC growth, as the BTC value is very volatile, earnings can’t be felt daily but long-term, like some other investments that values grow thru time or when the supplies get scarce like gold.
3. Access to Funds Anytime – Like your traditional bank, you can withdraw the funds anytime you wish, thru different channels shown below
4. Economical Money Remittance Option – As coins.ph, also categorized as fintech (financial technology) company, partnered with remittance companies thru Gcash or Cebuana. You also have the option to withdraw funds thru direct deposit thru BDO or BPI or also by ATM-less withdrawal via Security Bank. Withdrawal Fees for Gcash is at 4%, thru BPI online Banking is free so this is actually my preferred option. Fees associated with cashing out or remitting money, including the transaction fees for sending bitcoins from wallet to wallet locally and globally is much cheaper, I can say, because, sending money from Paypal to a local bank account costs around P300, and international bank transfer costs around P200.

Note: A transaction fee is being charged every time you send bitcoins or money from one wallet to another. This is charged by bitcoin miners (ones who validates these transactions using computers running on specialized software) as their incentive on keeping the bitcoin network secure. Sending money from coins.ph to another coins.ph doesn’t have a fee though. 

 5. Convenient Way to Purchase Bitcoins –

• Before you can only buy bitcoins either by using a Bitcoin ATM, personal meet up with your buyer who will send you bitcoins from wallet to wallet or thru bitcoin buy and sell website, coins.ph made it easier for us via partners shown below to buy bitcoins on our fingertips. Why buy bitcoin? 100 reasons actually.

 6. Not Just a Bitcoin Wallet, but a Load Retailer Wallet – Get rewarded 5% rebate everytime you load yourself or friends using this app. A feature that banks are shy to have. Not bad if you would like to have a loading business on the side. 5% rebate is like earning 5% interest if you are a load retailer. 

 7. Rewards You for Paying Your Bills – Yes they also give 5% rebate for every bills paid using their app, Minimum bill amount is P100. You can also get P100 for 5 consecutive bill payments using their app. Again, a feat that Bayad Centers or bank mobile app can’t match. I liked their tagline, “Never stand in line again,”. “Kasi naman, nakakapagod din naman talagang maghintay.” 

 8. Ideal for Online Shopping – There’s a built-in virtual Visa Card that can be linked to your wallet for online shopping use. Partner stores are also listed on their website in which some also gives rebates. 

9. Follows Know-Your-Customer (KYC) Procedures – Like other remittance companies, you would need to provide suffice documentation to validate your identity after you registered on the site. This means that coins.ph is doing their best to align with our country’s regulatory standards in observance of Anti-Money Laundering Law, to establish that funds being deposited on the wallets were not from suspicious activities.

10. Earn Free Bitcoins as you Validate Your Account – Earn free bitcoins each time your submission is validated, not big though but better than nothing. They are actually being generous on that anyway. Some tasks only take few minutes to complete and you can start being credited bitcoins right away. 

 11. Promotions – they always have this to give your buck an extra boost. 

 Other Features

• They also have a blog about bitcoin, cryptocurrency or some financial advise.
• You can send money using an e-mail address, as long as the recipient has a coins.ph account linked to an e-mail or Facebook, your transactions are shown on the wall page of the mobile app.
• You can change the privacy of your transaction, from Public (everyone including your FB friends can see) or Private (between senders only)

Lastly,Earn P50 from every person you referred to completely register on the site. So if you like my post and would also like to use Coins.ph, you can register on the link here 

Thank you for taking time on my app/site review. If you like this, leave a like or comment below. You can download this app from Google Play or Apple app store and use the code fjwaff so you can get the P50 bonus.

Update: Because of your continued support, I finally got two verified referrals here at coins.ph. I’m showing the proofs to you to let you know that your referrals only need to each at least Level 2 verification in order to get the rewards. Once rewards are credited, these can already be withdrawn anytime. So what are you waiting for? Hop in so you can also start adding up your bitcoin fortune!

I hid my referral’s partial e-mail addresses and my wallet balances for our privacy. 

 Here’s a quick introduction video about coins.ph here.

You can also subscribe to their channel for more tips and tricks.