Overview
Coins.ph was founded in 2014 in Manila and has grown to become the most widely used cryptocurrency platform in the Philippines. The platform is licensed by the Bangko Sentral ng Pilipinas (BSP), the country's central bank, as a Virtual Currency Exchange and an Electronic Money Issuer. This dual licensing reflects Coins.ph's unique position as both a crypto exchange and a broader financial services app.
What makes Coins.ph distinctive is its approach to serving a market where many users are underbanked or rely heavily on mobile financial services. Beyond cryptocurrency trading, the platform functions as a digital wallet that supports bill payments, mobile phone top-ups, online shopping, and, most notably, remittance services. The Philippines is one of the world's largest recipients of overseas remittances, and Coins.ph provides a way for users to receive money from abroad quickly and with lower fees than traditional remittance channels.
The platform supports Bitcoin, Ethereum, and a selection of other cryptocurrencies, with trading pairs denominated in Philippine pesos (PHP). Deposits can be made through a variety of local channels, including bank transfers, popular e-wallets like GCash and PayMaya, and cash deposits at convenience stores and remittance centers across the country. This extensive network of on-ramps makes Coins.ph accessible even to users without traditional bank accounts.
Getting Started
Coins.ph is designed for accessibility in the Philippine market, with multiple ways to fund an account and a mobile-first experience.
- Step 1: Download the Coins.ph app for iOS or Android and create an account using your mobile number or email address.
- Step 2: Complete identity verification. Submit a valid government-issued ID (such as a Philippine driver's license, passport, or national ID) and a selfie. Higher verification levels unlock larger transaction limits.
- Step 3: Add funds to your peso wallet. Choose from bank transfer, GCash, PayMaya, or cash deposit at partner locations including 7-Eleven stores and Cebuana Lhuillier branches.
- Step 4: Buy Bitcoin or another supported cryptocurrency. Navigate to the crypto section of the app, select the asset, enter the amount in PHP, and confirm your purchase.
Pros & Cons
Pros
- All-in-one financial app: Combines crypto trading with bill payments, remittances, and mobile wallet services in a single platform.
- Extensive cash-in options: Users can deposit funds through bank transfers, e-wallets, convenience stores, and remittance centers, making the platform accessible even without a bank account.
- BSP-licensed: Regulated by the Philippine central bank as both a Virtual Currency Exchange and Electronic Money Issuer.
- Remittance services: Provides a cost-effective channel for receiving overseas remittances, a critical use case in the Philippines.
Cons
- Philippines-focused: The platform is designed for the Philippine market and is not available to users in most other countries.
- Limited cryptocurrency selection: Supports fewer digital assets than larger global exchanges.
- Basic trading features: The trading interface is straightforward but lacks the advanced charting and order types that active traders may expect.