Coins.ph is one of the top money payment services in Asia that is changing how people make transactions. The fintech industry in the Philippines has grown exponentially to adapt to the evolving needs of consumers. Coins, which was established in 2014, provides several payment services to Filipinos. Before getting a Coinsph wallet account, know the fundamentals of the service.
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What is Coins.ph
Coins.ph is a mobile wallet developed by Runar Petursson and Ron Hose in Metro Manila. The purpose of developing this payment service was to enhance financial inclusion in Southeast Asia. Currently, the company serves over 10 million customers. The payment method simplifies transactions by providing users with various services on their phones. Customers don’t need bank accounts or credit cards to use the mobile wallet, which is its biggest selling point.
It is backed by blockchain technology, which allows it to carry out cryptocurrency transactions. Account holders can buy, store or sell digital currency. Customers also have the chance to earn money. Some services reward customers for paying bills using the Coins mobile wallet. The payment method caters to consumers with varying needs by providing different account levels.
How to create an account at Coins Ph
Coins.ph makes opening an account as painless as possible. Begin by downloading the app. Go to iTunes to get the wallet on your iPhone and Google Play Store for Android. Open the app and click on the ‘Sign Up’ button. The app also provides the option to sign up with Facebook. You can choose to register using your mobile number or email address. Then you have to create a password for your Coins Ph login. The service sends a verification code via email or text. Enter the code on the verification page and wait for the process to complete. Coins also lets customers register accounts straight from the desktop website. The process doesn’t change.
The type of verification determines the account level and consequently, the monthly cash-in amount. For example, verifying your phone number or email address puts you in Level 1 where the limit is 50,000 PHP. A Level 2 account needs an ID and selfie. Level 3 requires address verification while the last one, Level 4 has additional verification requirements.
How to add money to your account
Depositing funds into your account is referred to as ‘cashing in.’ On the app, find the cash in icon and tap on it. You will be directed to the different payment methods that you can use to load your account. Examples are Union Bank, 7-Eleven CLIQQ and M Lhuillier ePay. Then you have to input the amount that you wish to load into your account. After that, the app will prompt you through the rest of the process.
Some cash-in options require users to fill out a form at a physical location. Others like 7-Eleven only need a barcode or reference number. Customers can also use the web version of the mobile wallet to add money into their accounts. Follow the same instructions.
Costs, fees and transfer times
Opening an account with Coins.ph is free. The mobile payment service does not charge you when buying load. However, charges can apply when adding money into an account depending on the payment solution. The fees range from 1% to 3% if the deposit for transactions above 100 PHP. Some deposit alternatives like Union Bank, EastWest Bank and GCash are free. Several bill payment services impose fees that range from 5 PHP to 10% of the amount. The app doesn’t have a minimum balance requirement or charge a maintenance fee. Loading money into the account and cashing out can be instant depending on which payment option you use.
For What Payment Operations Can You Use Coins.ph?
The mobile payment is wildly versatile, allowing customers to conduct a number of transactions. With your Coins Ph wallet login, a user can send and receive money to an email address or bank account. Customers can buy game credits from supported vendors. You can also pay various bills, including phone, power and credit cards. Check the list of bill payment services on the official website.
The payment service is available to remit money from over 200 countries and territories. Account holders can buy cryptocurrency through the wallet. You can convert Pesos into Bitcoin, Ethereum or Bitcoin Cash. Additionally, you can use the app to donate online to over 20 charitable organisations in the Philippines.
Coins.ph is a reliable mobile payment service that takes the hassle out of online transactions. The wallet gives customers control over their money, allowing them to pay bills, shop and buy digital coins conveniently. Customers enjoy a simple interface that simplifies payments even for beginners. The app is highly intuitive and free of clutter, which makes navigation a breeze. Filipinos looking for a mobile wallet that delivers superior standard service without compromising security will find Coins.ph more than satisfactory.
❓ Can I use Coins.ph to fund my online casino account?
The company prohibits the use of the wallet to transact in online gambling activities. However, it has exceptions for some payments.
? Does the verification process take long?
ID verification for your Coins.ph account can take up to 24 hours. Follow the instructions to provide the required documents.
? Is Coins.ph safe to use?
Yes. The mobile payment service operates under the strict regulation of the Bangko Sentral ng Pilipinas with both electronic money and virtual currency licenses.