If you still have not discovered the wonders of e-wallet services, you’re missing out on a lot. They have definitely made banking and other financial transactions easy and convenient during this community quarantine.
Check out Coins.ph, another mobile wallet service that you can download on your phone or computers to make a variety of financial transactions.
But first, what is Coins.ph?
Coins.ph was founded in the Philippines in 2014. It’s a mobile wallet that you can download for free on your smartphone. You can also access it on your computer by visiting the website.
There’s no bank account or credit card required to create a Coins.ph account. In just a few simple steps, you can get safe and secure access to different financial products and services from your mobile phone.
This mobile wallet service allows you to put funds to your account with no required minimum balance. Use it for payments, remittances, and purchases.
You can even trade digital currencies right on the app. It’s one of the first mainstream blockchain-backed platforms in the Philippines that’s approved and regulated by the Bangko Sentral ng Pilipinas.
How do you sign up for a Coins.ph account?
There are two ways to sign up for a Coins.ph account. First is through the official app which can be downloaded at the Apple App Store or Google Play Store. Second is through the Coin.ph official website.
- On your desktop or smartphone, sign up with your email address, mobile number, or Facebook account.
- Set a unique alphanumeric password with at least 8 characters, preferably one that you haven’t used before in other apps, websites, or services. Click on ‘Create Account’.
- You will then receive a verification code via email if you signed up with your email address, or via SMS if you signed up with your mobile number.
- Key in the verification code and then the ‘Verify’ button. That’s it. You’ve just created your Coins.ph account! You can now fund your Coins.ph wallet to purchase, send money, pay bills, and more.
Features of Coins.ph
| Bills Payment | Utilities, telco, internet, cable, credit cards, government services |
| Cellphone Load Purchase | Globe, Smart, TM, TNT, Sun |
| Sending and Receiving Money | Only an email address, Facebook account, or bank account details is required to send money |
| Game Credits Purchase | Garena Shells, Game Club, Battle.net, Cherry Credits, Razer Pin, Level Up! EX Cash, Steam Wallet, and more |
| Digital Currency Purchase | First BSP-licensed virtual currency provider in the Philippines
Convert PHP to Bitcoin, Bitcoin Cash and Ethereum |
How do you put money in your Coins.ph wallet?
Before you can do anything with your Coins.ph account, you need to fund your account first.
- Tap ‘Cash In’ on the main menu. Select the Cash In method that you prefer, after which you will key in the amount.
- Tap on the ‘Place Order’ button and then follow the rest of the instructions to complete the transaction.
- It follows the same procedure when you Cash In using the website, but click on ‘Next Step’ instead of ‘Place Order’.
There are Cash In options where you get your money instantly (GCash, 7 Eleven, M Lhuillier, Cebuana Lhuillier). Others will be processed within 24 hours (online bank transfers, over the counter banking, remittance).
There are also different Cash In limits depending on your completed verification steps.
| Level 1 – Email or Phone Verified | Level 2 – ID and Selfie Verified | Level 3 – Address Verified |
| 2,000 PHP daily limit | 50,000 PHP daily limit | 400,000 PHP daily limit |
| 50,000 PHP monthly limit | 100,000 PHP monthly limit | 400,000 PHP monthly limit |
| 50,000 PHP annual limit | 400,000 PHP annual limit | Unlimited |
How do you withdraw money from your Coins.ph wallet?
To withdraw money using the Coins.ph app, tap on the ‘Cash Out’ option from the main menu. Select your preferred Cash Out method, enter the amount, and click on ‘Next’. Supply the details of the recipient, and then tap ‘Slide to Pay’ to finalize the transaction.
From the Coins.ph website, choose ‘Cash Out’ and your preferred Cash Out method (LBC Instant Peso Padala, GCash, InstaPay, Security Bank eGiveCash, M Lhuillier Kwarta Padala, etc.). Key in how much you’d like to cash out, the information of the recipient, and then click on ‘Complete Payment’.
You can also cash out via bank transfer. Cut off is 10 am if you want your funds delivered the same day by 6pm. Anything later than 6pm will be delivered the following business day.
Most cash out methods have a 50,000 PHP daily cash out limit. Service fees also vary depending on the cash out method and the cash out amount. The service fee will always be included in your order summary screen before you place your order or complete your transaction.
Final Thoughts
Currently, Coins.ph only offers PHP and Bitcoin and can only be used within the Philippines. You also cannot shop around for the best Bitcoin prices. If you’re located outside of Metro Manila, prepare to receive higher fees as well.
But it’s a good mobile wallet that will help you easily manage your money. Make deposits and withdrawals on your phone or computer. No need to queue and no need to leave your house to pay bills and buy load or game credits.
You don’t need a bank account to use Coins.ph. It’s free, easy, and convenient to use.
There are also many cash in locations all over the Philippines where you can fund your Coins.ph wallet.
Furthermore, you can easily do whatever you want with your bitcoins. So buy, sell, receive, and send anytime you want.
With health protocols and social distancing measures still in place, Coins.ph is another mobile wallet that you can explore if you want safe, convenient, and cashless transactions.