Coins.ph Review

in #cryptocurrency2 years ago (edited)

Hi, this is Kuraizuke and welcome to my digital lifestyle.

Today, I'll be sharing you one of my wallet app that I'm currently using to buy bitcoin. I know it's not the best one around the world but here in the Philippines, it's the only app available for us to buy BTC directly from our online banks, 711 Stores or even from remittances.

So, if you wanted an easy way to buy/sell here in the Philippines, the best wallet that I can recommend is this app but the only thing that I don't like are the fees that cost a lot to send BTC and also the tedious verification processes (Well I think it's because they just wanted to protect themselves from paying multiple accounts with free rewards or maybe it's for the bank transactions). Well, there are other alternative ways to buy/sell in the Philippines but still you will be needing a wallet which is convenient for you to use.

Other features of this Wallet are buying load for your mobile phone, paying bills, sending money on remittances, buying game credits and you can also buy products on selected establishments or website.

Like what I have said that you need to get verified first because they won't allow you to cash it out.

See the table below for Cash In and Cash Out Limit:

Cash In Limit:

Verification LevelDescriptionDaily Cash In Limit (PHP)Monthly Cash In Limit (PHP)Annual Cash In Limit (PHP)
1Email/phone verified2,00050,00050,000
2ID and selfie verified50,000100,000400,000
3Address verified400,000400,000Unlimited

Cash Out Limit:

Verification LevelDescriptionDaily Cash Out Limit (PHP)Monthly Cash Out Limit (PHP)Annual Cash Out Limit (PHP)
1Email/phone verified000
2ID and selfie verified50,000250,000400,000
3Address verified400,000UnlimitedUnlimited

Please click the link to know How can I increase my daily transaction limits.

If you are outside the Philippines, you can still use this app following the same requirements and for foreigners, the allowable ID is your passport
For more details of accepted IDs, you may check this link: Which IDs are accepted for the ID verification process

This wallet has only BTC and PHP wallet and no other Cryptocurrency available yet and that is why I am using other wallets for those other Cryptocurrency.

If you are interested you may download the app or register with this link coins.ph and use my code 'xnuxcn' (without single quote) to get free Php 50. You may also get other rewards like from paying bills*.

Pros:

  • User-friendly App
  • No fees when sending PHP to PHP Wallet
  • Has referral bonus and other rewards like 10% rebate when buying load
  • Can be used to pay services/products on selected partnered establishments /sites
  • Able to check the Bitcoin Price
  • Great Support

Cons:

  • Fees sending BTC to BTC wallet is ridiculously high
  • Verification process is very tedious
  • You need to have a valid ID to get yourself verified
  • Not all countries are supported
  • Does not have other Cryptocurrency

Conclusion:

In my conclusion, this is the only app that I know is currently available in the Philippines as a wallet app and this has a great potential to expand more. I hope that they can make fees less expensive and be reasonable because this will kill their business and more people would not use BTC for transaction, instead they going to use other alternatives in buying BTC.

That's my review for now and I hope that I could help more people to check the app for themselves. Thanks for reading this and be awesome.

*Rewards are only for Establishments/Services here in the Philippines and partnered with Coins.ph


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The @OriginalWorks bot has upvoted and checked this post!
Some similarity seems to be present here:
https://support.coins.ph/hc/en-us/articles/201305154-How-can-I-increase-my-daily-transaction-limits-
It appears the author has cited this source in their work. Great Job!