Coins PH Review – What Is Coins.PH, Is It Legal, Can You Use The App As Bitcoin Wallet

We’re glad that you’re here reading our Coins.ph review.

Perhaps you wanted to know more about Coins.ph and you like to know what Coins.ph is all about. You understand it better before you sign up and make transactions.

Maybe you learn about this app from a friend, telling you about the many ways that you can use the platform for money transfer, bills payment, buying load, and crypto investments.

Whatever the situation may be, this guide will help you get started with Coins.ph. You’ll learn about the many features of CoinsPh and how the financial platform works.

You’ll know what this money app is all about, how to register, what are the services available, and how to use features in CoinsPh. So, let’s begin my guide to Coins.ph review. I’ll give you insights based on my personal experience and own use of the financial app.

What Is Coins Ph Wallet?

Coins.ph is an online money platform that started in 2014 in the Philippines with a license from BSP or the Bangko Sentral ng Pilipinas.

It provides similar bank services through its smartphone app with features such as money remittances, bills payment, buying SIM load, bank transfers, buying game credits, Bitcoin investments, and many more.

At the moment, Coins.Ph provides services to countries in Southeast Asia.

Is Coins PH Legal?

Coins.ph is the first virtual currency and cryptocurrency provider in the Philippines that is under regulation and license by the BSP or Bangko Sentral ng Pilipinas. CoinsPH protects your funds as a top priority.

They have advanced systems and security to keep your cryptocurrencies safe.

Is Coins Ph a Bitcoin Wallet?

Yes, CoinsPH comes with a Bitcoin wallet which you can use to send and receive Bitcoins.

However, CoinsPH is more than a Bitcoin wallet. You can also send payments in just a couple of minute inside the Coins.ph app. It means you’ll never have to spend time in traffic, going to different agencies, and waiting in line for hours – just to pay bills.

You can manage funds instantly using the Coins.ph app on your smartphone. You can receive, transfer, invest in up to 33,000+ partner establishments.

They provide a platform to buy or sell digital assets. You can use the app for small investments or trading for cryptocurrencies like Bitcoin.

The available cryptocurrencies in CoinsPh are Bitcoins (BTC), Etheruem ETH), BitCoin Cash (BCH), and Ripple (XRP).

However, if you like to use more tools for crypto investments, you can use Coins Pro, their dedicated cryptocurrency trading platform.

How To Create Coins.Ph Account

There are several ways to create an account in CoinsPh. You can create an account by visiting coins.ph on your PC web browser or by installing the Coins.ph app on your Smartphone.

Both methods have the same way to register on the platform.

  • Click Sign Up/Create An Account
  • Fill up your details. It will ask for email, mobile number, and password that you will use for logging in.
  • Fill in verification code

After creating Coins.Ph account, you now have a basic account, but it has few features, and it only allows around P2,000 to send and receive.

For a fully verified account, CoinsPh would request to verify your identity. The platform will ask you to provide your personal information and also to send a valid ID card issued by the government.

I recommend you proceed with the Coin.ph verification, as this can take only around ten minutes. Having a verified CoinsPh account provides access to most of the features on CoinsPh.

This personal verification is actually required by Bangko Sentral ng Pilipinas (BSP) to prevent financial fraud or criminal activities. Some of the personal identification to be asked by CoinsPh include:

  • UMID Card
  • Passport
  • PRC Card
  • Driver’s License
  • Postal ID
  • SSS ID
  • GSIS ID
  • OFW ID
  • PNP ID
  • AFP ID
  • NBI Clearance
  • Seaman’s Book
  • PWD Card
  • Integrated Bar of the Philippines ID
  • Immigrant Certificate of Registration
  • Voter’s ID
  • Other valid government ID’s

Depending on the identification or documents you’ll submit, you can be fully verified in minutes. CoinsPh may also call you for further details and verification if needed.

How To Cash In Funds In Coins.Ph

When we talk about ‘Cash In’ on CoinsPh, it means putting money on the platform. There are many ways to put money on Coins ph. You can visit its partner establishments such as Bayad Center, Cebuana Lhuillier, MLhuillier, Western Union, Palawan Pawnshop, LBC, BPI, Unionbank, Security Bank, 7-Eleven.

For you to Cash in, just follow these steps:

  • Open Coins.Ph app on your smartphone
  • Tap on “Cash In”
  • In option, choose cash.
  • Enter cash in the amount
  • Place your order.

Follow Coins.ph instructions on your screen to complete the payment. You can visit the CoinsPh partner establishments to fulfill the transaction.

How To Cash Out in Coins.PH

You can cash out, withdraw, or send funds to yourself or to another person from the Coins.Ph app in variety of ways. First, click ‘Cash Out’ and follow the prompts.

The process is simple and straightforward. It will just ask you what method and outlet you want. It will then ask the amount, recipient name, contact number and address. Just follow the prompts and then “Slide to pay”. It will then show if transaction is successful and completed along with reference number.

The best methods to cash out include the following:

1. Cash Pickup – Their partner establishments are 

  • LBC Peso Padala
  • M Lhuillier Cash Pickup
  • Palawan Express Pera Padala

2. Bank Transfer Thru InstaPay or PESOnet

You can choose electronic fund transfer using InstaPay or PESOnet to transfer funds to their accredited banks.

The difference between the two is that InstaPay allows you to send funds instantly with a fee (P10), while PESOnet process the transaction for free within the day (1pm cutoff) or next day (transactions after 1pm).

The fund transfer will usually ask account name and account number. The recipient should have account in chosen bank.

The accredited banks include most of the major banks, financial services, and even small rural banks in the Philippines:

  • Asia United Bank Corporation
  • Bank of Commerce
  • Cebuana Lhuillier Rural Bank, Inc.
  • China Bank Savings, Inc.
  • China Banking Corporation
  • CTBC Bank (Philippines) Corporation
  • Development Bank of the Philippines
  • East West Banking Corporation
  • Equicom Savings Bank, Inc.
  • G-Xchange, Inc.
  • Grabpay Philippines
  • ING Bank N.V.
  • Land Bank of The Philippines
  • Malayan Bank Savings and Mortgage Bank, Inc.
  • Maybank Philippines, Inc.
  • Metropolitan Bank and Trust Company  
  • Partner Rural Bank (Cotabato), Inc.
  • PayMaya Philippines, Inc.
  • Philippine Bank of Communications
  • Philippine Business Bank, Inc., A Savings Bank
  • Philippine National Bank
  • Philippine Trust Company
  • Philippine Veterans Bank
  • Rizal Commercial Banking Corporation
  • Robinsons Bank Corporation
  • Security Bank Corporation
  • Sterling Bank of Asia, Inc., A Savings Bank
  • Sun Savings Bank, Inc.
  • Union Bank of the Philippines
  • United Coconut Planters Bank
  • Wealth Development Bank Corporation
  • United Coconut Planters Bank

3. Cash Card

  • BDO Cash Card
  • RCBC MyWallet
  • RCBC MyWallet (Palawan)

Coins.Ph Pros and Cons

Pros

  • Help you manage your cash all in one app
  • Allow you to purchase, sell, transfer, receive cryptocurrency
  • Cash in and cash in available in the Philippines
  • No need for savings account to add funds online
  • Quick and simple to get began and use

Cons

  • You can’t go for the best price of the altcoins

Conclusion

Coins.ph is one of the trusted financial providers in the Philippines. Coins.ph have the biggest money distribution networks at the moment, with around 33,000+ establishments and more than a hundred company billers.

If you’re in search of the best answer to transfer cash, send payments, purchase load, trade bitcoins, and more, then I like to encourage you to check out Coins.ph!

I hope you just found an excellent platform on financial and cryptocurrency services. So far, it’s simple to use, handy, and trouble free in my personal use.