So you want to invest in crypto? Whether you’re a seasoned investor or just getting started, this article will walk you through the steps on how to buy and sell cryptocurrencies with Coins PH.
While everyone is going CRAZY, having massive returns in cryptocurrency north of 250% or 450%, it is never too late to ride the big wave.
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Investing is important and while crypto is rewarding, let us not discount that it’s also very risky. You will lose money at some point. Hence, learning how to invest in cryptocurrency is essential for every investor.
Welcome to this guide on buying and selling cryptocurrency in the Philippines using Coins.ph, a trusted platform in the Philippines. Buying and selling crypto can be a complex process but with Coins.ph, it becomes simple and accessible to everyone.
What is Coins PH
Coins.ph is a popular digital wallet service and the first digital currency exchange in the Philippines that allows users to buy and sell various cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ripple (XRP).
With Coins PH, you can also pay utility bills like telephone, internet, water, or electricity, send money, and buy prepaid load.
How to Buy Crypto in Coins PH
In order for you to buy crypto, you’ll pay with your Coins PH wallet. Make sure that you have enough balance in your Coins PH wallet.
If you don’t have enough funds, you can follow our guide to cash in to your Coins PH wallet.
Step 1: Sign Up for Coins.ph
To get started with buying Bitcoins (BTC), the first step is to sign up for an account in Coins.ph. You can easily create an account by downloading the Coins.ph app on your mobile phone or visit their website. Follow the simple registration process and provide the necessary information to create your account.
Step 2: Place a Buy Order
Once your Coins.ph account is set up, you can proceed to place a buy order for Bitcoins.
- Log on to Coins app
- Tap “Buy/Sell“ then select “Buy Crypto“
- Select the crypto that you want to buy. Right now there are 51 available crypto in Coins PH.
- Aave (AAVE)
- ApeCoin (APE)
- Arbitrum (ARB)
- ArchLoot (ALT)
- Arkham (ARKM)
- Axie Infinity (AXS)
- Basic Attention Token (BAT)
- Binance Coin (BNB)
- BinaryX (BNX)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Blur (BLUR)
- Chainlink (LINK)
- Chiliz (CHZ)
- Decentraland (MANA)
- Dogecoin (DOGE)
- Enjin Coin (ENJ)
- Ethereum (ETH)
- fanC (FANC)
- Floki (FLOKI)
- Gala (GALA)
- GensoKishi Metaverse (MV)
- GMX (GMX)
- Immutable (IMX)
- Kyber Network Crystal (KNC)
- Lido DAO (LDO)
- Liquity (LQTY)
- Litecoin (LTC)
- LooksRare (LOOKS)
- Magic (MAGIC)
- Maker (MKR)
- MyNeighborAlice (ALICE)
- Pendle (PENDLE)
- Pepe (PEPE)
- Polygon (MATIC)
- Radiant Capital (RDNT)
- Ripple (XRP)
- Rocket Pool (RPL)
- Ronin (RON)
- Shiba Inu (SHIB)
- Smooth Love Position (SLP)
- Sologenic (SOLO)
- Synthetix (SNX)
- Tether (USDT)
- The Sandbox (SAND)
- Tron (TRX)
- TrueFi (TRU)
- Unibot (UNIBOT)
- Uniswap (UNI)
- USD Coin (USDC)
- Yield Guild Games (YGG)
- You can buy in two ways:
- Tap “Peso” and enter the Peso amount that you want to buy (for example 2000 or 5000 Pesos)
- You can also tap the crypto and enter the amount of crypto that you want to receive (for example 1 or 2 BTC)
- Tap “Purchase“
And that’s it! You’ve now successfully purchased your crypto in Coins PH!
How to Sell Crypto in Coins PH
Ready to cash out your crypto profits? Follow these steps to sell your crypto in Coins PH.
Step 1: Sign Up for Coins.ph
If you’re planning to sell your Bitcoins, the first step is to have a Coins.ph account. By following the same sign-up process mentioned earlier, you can quickly create an account and proceed to sell your Bitcoins.
Step 2: Place a Sell Order
Once you have a Coins.ph account, you can easily place a sell order for your Bitcoins.
- Log on to Coins app
- Tap “Buy/Sell“ then select “Sell Crypto“
- Select the crypto in your portfolio that you want to sell.
- You can sell in two ways:
- Tap “Peso” and enter the Peso amount that you want to sell (for example 2000 or 5000 Pesos)
- You can also tap the crypto and enter the amount of crypto that you want to sell (for example 1 or 2 BTC)
- Tap “Sell“
Step 3: Get Your Cash
Once your Bitcoin transaction is successfully confirmed on the blockchain, the corresponding cash value will be credited to your Coins.ph wallet.
From there, you can choose to either cash-out to your bank account or make use of other cash-out options available, such as GCash.
Advantages of Using Coins.ph
Coins.ph offers a range of advantages for users interested in buying and selling cryptocurrencies.
Easiest Way to Buy and Sell Crypto
Firstly, Coins.ph is the easiest way to buy and sell Bitcoin and other cryptocurrencies in the Philippines. Its user-friendly interface and streamlined processes make it accessible to both experienced traders and new investors.
Secure and Reliable
Coins.ph provides a secure and reliable platform for cryptocurrency transactions. With stringent verification processes and adherence to regulations set by the Bangko Sentral ng Pilipinas (BSP), users can trust Coins.ph with their digital assets.
Convenience
Another advantage is the convenience it offers. With the Coins.ph app, users can easily manage their cryptocurrencies, pay bills, and conduct remittances all in one place. Coins.ph makes it easy to navigate the world of virtual currencies, providing a comprehensive wallet service.
Disadvantages of Coins.ph
While Coins.ph offers many benefits, it’s important to note some potential disadvantages as well.
1. Cash In and Cash Out Limits
One limitation is the cash-in and cash-out limits and verifications imposed by Coins.ph. These limitations vary depending on the level of account verification.
2. Crypto Trading Fees
While buying and selling cryptocurrencies in Coins PH is quick and easy, the trading fees are pretty high than other crypto trading platforms such as Binance. I’m a Binance user and I can attest to this.
Why does this matter? The higher the trading fees, the lesser the profit you can take in your trades. Hence, some crypto traders prefer Binance.
Coins.ph Cash In and Cash Out Limits and Verifications
Coins Cash In Fees
Coins.ph charges fees for cash-in transactions, which vary depending on the cash-in method used. For example, there’s a Php 15.00 fee for every transaction from GCash to Coins PH.
It’s essential to review the fees associated with your preferred cash-in method on the Coins.ph app or website.
Coins.ph Cash Out Fees
Similar to cash-in transactions, Coins.ph applies fees to cash-out transactions as well. Right now, there’s a Php 10.00 transaction fee if you cash out from Coins to GCash.
The fees depend on the chosen cash-out method and should be considered before initiating a cash-out request.
Cash In Limits Based on Account Verification Level
Coins.ph imposes cash-in limits based on the account’s verification level. To increase these limits, users need to complete the verification process mandated by Coins.ph. Higher verification levels grant users higher cash-in limits.
| Verification Level | Daily Limits | Monthly Limits | Annual Limits |
|---|---|---|---|
| 1. Level 1 | ₱ 2,000 | ₱ 50,000 | ₱ 50,000 |
| 2. Level 2 | ₱ 100,000 | ₱ 2,000,000 | ₱ 20,000,000 |
| 3. Level 3 | ₱ 400,000 | ₱ 5,000,000 | ₱ 50,000,000 |
Cash Out Limits Based on Account Verification Level
Cash-out limits also depend on the account’s verification level. By completing the necessary verification steps, users can increase their cash-out limits and have more flexibility in managing their digital assets.
| Verification Level | Daily Limits | Monthly Limits | Annual Limits |
|---|---|---|---|
| 1. Level 1 | Not allowed | Not allowed | Not allowed |
| 2. Level 2 | ₱ 600,000 | ₱ 12,000,000 | ₱ 120,000,000 |
| 3. Level 3 | ₱ 5,250,000 | ₱ 105,000,000 | ₱ 1,050,000,000 |
Verification per Level
Coins.ph implements different verification levels to enhance security and comply with regulatory requirements. The levels include email verification, ID verification, and selfie verification.
Each level has specific requirements that users need to fulfill to increase their account limits and access additional features.
- Level 1 – Basic Information
- Level 2 – Identity Verification
- Level 3 – Address Verification
What You Can Do with Your Bitcoins at Coins.ph
Once you have Bitcoins in your Coins.ph wallet, there are several things you can do with them.
Keep Your Bitcoin as an Investment
First and foremost, you can hold onto your Bitcoins as a form of investment. Many individuals believe in the long-term potential of cryptocurrencies and opt to hold them as a store of value.
Use Crypto for Purchases
Additionally, you can use your Bitcoins to make purchases from merchants and online platforms that accept cryptocurrency as a form of payment. Coins.ph provides a list of merchants where you can use your Bitcoins to pay for goods and services.
Easy Conversion from Crypto to Cash
If you have a specific need for Philippine Pesos (PHP), you can easily convert your Bitcoins to PHP within the Coins.ph app or website. This enables you to access the cash value of your cryptocurrencies whenever necessary.
Overall
Coins.ph is a reliable and user-friendly platform for buying and selling cryptocurrencies in the Philippines. It offers a range of features and benefits, making it accessible to both experienced traders and beginners.
Through Coins.ph, individuals can conveniently manage their digital assets, conduct transactions, and explore the world of cryptocurrencies with confidence.
FAQ
What is Coins PH?
Coins PH is the easiest and safest way to buy, sell, and store cryptocurrencies in the Philippines. It is a digital currency exchange and mobile app that allows you to buy and sell Bitcoin and other digital currencies.
How do I sign up for Coins PH?
To sign up for Coins PH, you need to download the Coins app from the App Store or Google Play Store. Once downloaded, open the app and follow the step-by-step registration process to create your account.
Can I buy and sell Bitcoin in Coins PH?
Yes, you can buy and sell Bitcoins in Coins PH. It is the easiest and safest way to buy and sell Bitcoin in the Philippines.
How do I buy Bitcoin in Coins PH?
To buy Bitcoin in Coins PH, you can use the Coins app to deposit money into your account and then use that money to purchase Bitcoin. You can deposit money through bank transfer from BPI, BDO, or other local banks.
How do I sell Bitcoin in Coins PH?
To sell Bitcoin in Coins PH, you can use the Coins app to convert your Bitcoin into local currency and then withdraw the money to your bank account. You can also send the money to other Coins PH users.
Can I use Coins PH to buy other cryptocurrencies?
Yes, you can use Coins PH to buy other cryptocurrencies. The platform offers a variety of digital currencies, including Bitcoin Cash (BCH), for you to choose from.
Is Coins PH a trading platform?
Yes, Coins PH can be used as a trading platform for cryptocurrencies. You can buy and sell Bitcoin and other digital currencies through the Coins app.
What is Coins Pro?
Coins Pro is a trading platform offered by Coins PH. It is designed for more experienced traders who want advanced features and trading tools.
Is Coins PH regulated by the Bangko Sentral?
Yes, Coins PH is regulated by the Bangko Sentral ng Pilipinas (BSP). It operates in compliance with the guidelines and regulations set by the BSP.
What are the terms and conditions of using Coins PH?
The terms and conditions of using Coins PH can be found on the Coins PH website. It is important to read and understand these terms before using the platform.
Final Thoughts
Investing in crypto is made easy by Coins PH. Now, owning a crypto like Bitcoin and Ether is within a touch of your fingertips and mobile phone. However, you should also consider that crypto investing is a high-risk investment. Do your own due diligence of research before investing your hard-earned money in this investment vehicle.
