Bitcoins Philippines in demand
Coins, when we hear this word, we think of our usual daily activities such as riding jeepney, our piggy bank, or even buying mobile load. Yes, we always use coins when we pay our jeepney fare going to school, to work, or anywhere. We use coin to save money in our piggy banks. We use coins to buy something in the retail stores or even when we buy mobile credit.
But coins now is even useful. I am not talking about the normal coins but rather virtual coins. They call it “Bitcoin”. Have you heard it before? Well, Bitcoin is not new as of writing. Bitcoin has been popularized about for years ago. Bitcoin is a computer term of virtual money and people are using it to pay bills, buy food, or anything online. It is currency used over the wire or internet.
Many believe Bitcoin will replace physical cash in the future because of its security features. In the Philippines, many people are now using Bitcoin in businesses and online transactions. There are establishments that accept Bitcoin as a from of payment either on their physical store or online. Bitcoin is also used to transfer fund local and abroad with higher exchange rate.
In 2014, Coins.ph was created and since that time, many people are already using Bitcoin in their daily transactions.
According to Coins.ph website, it has saved Filipinos 81,034,140 minutes of standing in line since 2014. This means that many Filipinos use coins.ph facility to pay their bills, remittances, or even buying mobile load such as Smartload, Globe, TalknText, etc. It is now more convenient to pay bills, sending money, accepting payments for businesses, or even buy load credit using bitcoins.
Bitcoins is also most preferred because of usual higher exchange rate. Bitcoin value is also increasing.
Coins.ph 100% Secured
Coins.ph is so far the most reliable and most popular bitcoins host in the Philippines with branch website coins.co.th located in Thailand. Coins.co.th is an affiliate of coins.ph.
Coins.ph is 100% secured and safe for both bitcoins seller and buyer. They use careful identity check and verification before being labeled as verified account holder. The activities you can do with coins.ph and coins.co.th have limitations based on level. There are three basic levels of trust and verification.
Levels of Trust: Verification and Limitations
Level 1: If you are using coins.ph, the first level comes after you verify your mobile phone. Coins.ph allows you to start putting money into your account up to P2,000.00 pesos but you are now allowed to cash out money from your account.
Level 2: To get level two trust, you need to send valid ID such as passport and other government ID. Along with your ID, you also need to take a selfie with your ID previously submitted. This will unlock your level 2 trust and will allow you to transact (Cash in and Cash out) up to P50, 000 pesos.
Level 3: To obtain trust level 3, all you need is to accumulate at least P400,000.00 pesos both Cash-in and Cash-out. Coins.ph gives you privilege to put fund into your account up to P400,000.00 pesos and can cash out your fund from your account up to P400,000.00 pesos also.
If you are running business or need to transact more than of that in level 3, you may request to upgrade and increase your limitations from the management.
Cash in Outlets
As of writing, coins.ph accepts cash-in from the following outlets and partners:
- 7-Eleven—Instant cash in after payment
- Cebuana LHuillier—Instant cash in after payment
- MLHuillier—Instant cash in after payment
- Unionbank Cash Deposit—Cash in within 24 hours after payment
- Unionbank Online Banking—Cash in within 24 hours after payment
- Globe GCash via Dragonpay—Instant Cash in after payment (temporarily unavailable as of writing)
You may also use other cash in payment facilities such as over-the-counter deposit, ATM transfer, bayad center via LBC, and SM department stores.
Coins.ph also gives rewards to its members using the following scheme:
Next time, if you want to pay your bills, buy mobile load, or even send remittance to the Philippines, you may try coins.ph by joining in and you will also receive rewards and rebates.
We will update this information in our next article. Thank you for reading. God bless.