Coins.ph is one of the most well-known cryptocurrency exchanges and wallets in the Philippines. With its easy-to-use platform, competitive fees, and a range of services, Coins.ph has become a go-to choice for many Filipinos looking to buy, sell, and store cryptocurrencies. In this review, we’ll take a closer look at Coins.ph and its features, as well as explore its pros and cons.
Introduction to Coins.ph
Coins.ph was founded in 2014 by Ron Hose and Runar Petursson, with the aim of providing an easier and more accessible way for Filipinos to access financial services. Initially focused on providing a mobile wallet and bill payment service, Coins.ph has since expanded its offering to include cryptocurrency trading and remittance services.
The company is headquartered in Manila, Philippines, and is regulated by the Bangko Sentral ng Pilipinas (BSP). It has over 10 million registered users and has processed billions of Philippine pesos in transactions.
Trading on Coins.ph
Coins.ph offers a simple and user-friendly platform for buying and selling cryptocurrencies. Users can trade Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Ripple (XRP) on the exchange. Transactions can be made via bank transfer, e-wallet, or cash pick-up.
Coins.ph charges a fee of 1.5% for buying and selling cryptocurrencies, which is competitive compared to other exchanges in the region. The exchange also offers a range of trading tools and features, including price alerts and real-time market data.
Coins.ph Wallet
Coins.ph provides a mobile wallet that allows users to store and manage their cryptocurrencies. The wallet is available for both iOS and Android devices and offers a range of features, including the ability to send and receive cryptocurrencies, view transaction history, and access real-time market data.
One of the standout features of the Coins.ph wallet is its ease of use. The wallet is designed to be simple and intuitive, making it accessible to even those new to cryptocurrencies. In addition, Coins.ph offers a range of security features to ensure that users’ funds are kept safe, including two-factor authentication and biometric login.
Remittance Services
Coins.ph is perhaps best known for its remittance services, which allow users to send and receive money domestically and internationally using cryptocurrencies. This service is particularly popular among Overseas Filipino Workers (OFWs) who wish to send money back home to their families.
The remittance service is available for both cryptocurrencies and fiat currencies, and allows users to send money instantly and at a lower cost than traditional money transfer services. Coins.ph also partners with a number of banks and payment providers to make it easier for users to convert their cryptocurrency into cash.
Customer Support
Coins.ph has a reputation for providing excellent customer support. The company offers a range of support options, including email support, live chat, and phone support. In addition, Coins.ph has an extensive knowledge base and a helpful community forum where users can ask questions and get advice.
Coins.ph also provides a number of educational resources to help users better understand cryptocurrencies and how to use the platform. These include articles, tutorials, and videos that cover a range of topics, from the basics of cryptocurrency trading to more advanced trading strategies.
Pros and Cons of Coins.ph
Pros:
Easy to use platform with a range of trading tools and features
Competitive fees for buying and selling cryptocurrencies
Simple and intuitive mobile wallet with strong security features
Fast and affordable remittance services
Excellent customer support and educational resources
Cons:
Limited range of cryptocurrencies available for trading
Limited payment options compared to other exchanges
Relatively high fees for cash pick-up transactions.