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Coins.ph – Philippine-Based Bitcoin Wallet

Coins.Ph is a Philippine-based company that provides Bitcoin Wallet and Peso Wallet services where you can send and receive funds.

Coins.Ph is a financial services platform founded by Silicon Valley entrepreneurs Ron Hose and Runar Petursson in 2014.

Coins.Ph runs on blockchain technology and uses digital currency to extend the reach of financial services to the unbanked populace of the Philippines and the rest of Southeast Asia.

The Men Behind Coins.Ph



Ron Hose - Before coins.ph, Ron was a founding partner at Innovation Endeavors and the co-founder of TokBox, a consumer video conferencing company. Ron is a holder of a Bachelors and Masters degree from Cornell University, where he has graduated at the top of his class. Ron is also an active investor and adviser to a number of Silicon Valley startups.

Runar PeturssonRunar has been building web applications for over 15 years. He has also built High Frequency Trading platforms, with extensive experience in high volume, low latency systems. He has started trading Bitcoin in 2011 and wishes for the day he can stop carrying tangible cash around.

Services Offered By Coins.Ph



Aside from sending, receiving, transferring, or withdrawing Peso or Bitcoins - you can also do the following with your Coins.ph account:

  • Online shopping or making payments in Peso or in Bitcoins
  • Receiving online payments in Peso or in Bitcoins
  • Transfering Bitcoins to and from other Bitcoin wallets
  • Converting Peso to Bitcoins, and vice versa
  • Instant mobile phone loading (all Philippine networks)
  • Paying bills (electricity, water, etc.)
  • Sending money (Philippine Peso) to anyone nationwide
  • Sending Bitcoins to anyone worldwide
  • Receiving Bitcoin earnings from Bitcoin Faucets and other Bitcoin earning sites
  • Starting your own business (i.e. Eloading, Bayad Center or Remittance Center businesses).

Get Started with Coins.Ph


Creating an account with Coins.Ph is free.

1. Click here to create an Account and sign up.
2. Enter your mobile number or your email address and your password. Click “Create Account” and follow the prompts to complete registration.
3. Prepare a government issued ID, such as passport, or driver’s license. Scan front and back of your chosen ID to be uploaded.
4. Get ready to have your selfie taken. Dress decently as coins.ph will take your picture while holding the ID you have uploaded to the site.

That is about enough but if you are thinking of sending and receiving large amount of money through coins.ph, you are going to have to do some “address verification” where you have to upload some documents, such as utility bills (water, electricity, phone, cable) in your name and with your address on it. There are other acceptable documents that they have listed on the site.

Limits and Verifications


When you have signed up and confirmed your email address, your account has a limit of Php2,000 a day for cash-ins and you are not allowed to create cash out orders.

That is why you need to get your ID and selfie verified. When you have complied with your ID and selfie verification, your limit cash-in and cash-out increases to Php 50,000 a day or Php 400,000 a year.



Here are the list of government-issued IDs accepted for ID verification:
  • Passport
  • Driver's License
  • Social Security System (SSS ID)
  • Government Service Insurance System (GSIS ID)
  • Government Service Insurance System (GSIS) e-Card
  • Professional Regulation Commission (PRC ID)
  • Postal ID
  • Voter's ID
  • National Bureau of Investigation (NBI) clearance
  • Armed Forces of the Philippines (AFP) ID
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • OFW ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • Police Clearance Certificate
  • Seaman's Book
  • Senior Citizen Card
  • Unified Multi-Purpose ID (UMID)

Kindly note that expired IDs are not valid forms of identification.

When your target is a transaction of Php400,000 a day, then you need to have your address verified by sending to coins.ph any of the following:

  • Credit card billing statement
  • Utility bill (water, electricity, cable, phone)
  • Mobile phone bill
  • Barangay Certificate of Residency
  • Transcript of records from a recognized educational institution
  • Mail from a recognized institution (university, government institution, embassy)
  • Income Tax Return (Form 1700 or 1701)

Please note that all documents should be named under the Coins.ph account holder and dated within the last six (6) months.

Sending and Receiving Bitcoins with Coins.Ph


Receiving:

When you want to receive bitcoins through your Coins.ph, you have to generate your bitcoin address which is what you use to receive bitcoins from other bitcoin wallets, from bitcoin faucets or from any other source of bitcoins.

Sending:

You may send money anywhere in the world through a wallet-to-wallet transfer using coins.ph. You can use your Peso Wallet or your Bitcoin Wallet as your source wallet for the transaction.

Personal Experience

When the balance in my Bitcoin Wallet was not enough, I used Coins.ph “Cash-In” feature to buy bitcoins from 7-Eleven.


I followed the prompts and took a text message sent by coins.ph to my mobile phone to show to the staff of 7-Eleven.

I paid the amount indicated and in minutes, my bitcoins appeared in my coins.ph account, ready to send to the bitcoin wallet of someone at the other end of the word. It’s as easy as that.

When I wanted to Cash Out, all I did was choose the Banks Option. I did everything online. When using the bank option, you get your money depending on the time you made the cash out order. Before 10:00 in the morning, you get your cash in your bank account by 6:00 pm that same day. But when your cash-out order is done after 10:00 am, you get your cash at 6:00 pm. the next day. So take note of that.

You also get a text message when the transaction is completed.

So I can guarantee that coins.ph is legitimate and a very efficient bitcoin wallet which I recommend to Filipinos who wish to collect bitcoins from bitcoin faucets, and bitcoin sites all over the internet.

Great Service for OFW Worldwide


The Overseas Filipino Workers are saddled with high service fees when they send money to their families in the Philippines.

Coins.ph, a bitcoin exchange and wallet services company has launched their cash payout option that provides a cheaper and convenient alternative to banks and wire transfer centers.

Coins.ph is using the remittance system where users can transfer money from Php500 to Php10,000.

Recipients can collect the money by going to a partner ATM and select the eGiveCash cashout option. They are then going to enter the eGiveCash number they have received via text message, the passcode they have received through email, and the amount sent.

This service is currently available through Security Bank machines. You don’t have to have an ATM card for this transaction nor do you need an account at Security Bank.

For more information on how this system works, register at Coins.ph.

Ron Hose, CEO of Coins.ph says:

"Our priority has always been about offering convenience and equal opportunity. “We believe that everyone deserves access to financial services and should have the option to use their money to their desire, without having to endure high fees and prerequisites."

By the way, the referral system of coins.ph is unlike any other. Since I am an affiliate of coins.ph, I earn Php50.00 when you use my link to register but the good thing is that you earn Php50.00 as well, so both of us benefit.



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