Coins.ph Finance App Review

Full review of Coins.ph
Full Review of Coins.ph

I know you’ve heard of coins.ph from your friends, from Facebook, or from online advertisements.

But you’ve never really knew what coins.ph really is.

Guess what.

Today is your lucky day, my good friend.

I am here to tell you everything there is to know about coins.ph

Coins.ph as a Finance App

For me, Finance app has to be the greatest innovation ever made by mankind next to Peanut Butter and Jelly.

Mmmm.. PB & J.

Anyhow. Continuing the review.

Finance app has been an important part of our cyber life, especially to young innovative adults such as yourself. Thanks to our latest innovation in FinTech (Financial Technology). Now, we can manage our finances online at ease and without wasting time falling in line. The future of FinTech is bright I can already see a world where you can apply for a credit card and invest online without showing too many papers and a lot of frequent visits to the bank.

Among GCash, PayMaya, and other finance app is Coins.ph.

Coins.ph is  Top 7 Free Finance App in Google Play Philippines at the time of writing (Aug 20, 2018).

Unique features of Coins.ph

One of its unique features is the ability to buy Bitcoin and other cryptocurrencies at a very low price. In my experience, I could probably buy a fraction of a cryptocurrency for as low as 1 Php (Piso lang) using coins.ph.

The minimum for buying a small fraction of cryptocurrency is Php 1.

Here’s a picture of Ripple, a cryptocurrency I bought for 1 php became .98 php in a matter of second.
Here’s a picture of Ripple, a cryptocurrency I bought for 1 php became .98 php in a matter of second.

Coins.ph : The Web and The App

Coins.ph has 2 platforms one is the website https://coins.ph/ and the other one is an app that you can download here  https://play.google.com/store/apps/details?id=asia.coins.mobile for Android. I’m not sure with iOS though.

Coins.ph is probably one of my favorite finance apps, because it allows me to open a wallet that works like a bank account.

I can own up to 5 wallets of different currency.

  1. PHP wallet (Philippine Peso), a Fiat currency used in the Philippines.
  2. BTC wallet (Bitcoin), the first cryptocurrency in the world
  3. BCH wallet (Bitcoin Cash), another cryptocurrency trying to be the next Bitcoin.
  4. XRP wallet (Ripple), another cryptocurrency that I never heard of.
  5. ETH wallet (Ethereum), the second cryptocurrency after Bitcoin.

If you want to know more about cryptocurrency you may visit my article Bitcoin 101.

Coins.ph, just like other finance apps, allows you to pay your bills online, buy a prepaid load or sell for a profit, and remit money to banks and bayad centers. But some of its unique features are;

  • Cardless ATM – withdraw your coin.ph funds at any Security Bank ATM even without any cards.
  • Buy and sell cryptocurrency – Bitcoin, Ethereum, Bitcoin Cash, Ripple and more in the future.
  • Buy Game Credits – For gamers, Coins.ph offers Battle.net Gift Card, Cherry Credits, Garena Shells, zGold-MOLPoints, Steam Wallet, EX Cash, Game Club, Level Up!, and WarpPortal. Easier than looking a LoadCentral Retailer.
  • Buy Gift Cards – from these merchants ASUS via MemoXpress, AirAsia Big Points, Aramesh Wellness, Allegra’s Kitchen, Avis, Balai Pandesal, Baker & Cook, Baskin Robbins, Barre3, Bioessence, Big Mao, Bizu Patisserie, Birdhouse, Bono Gelato, Black Canyon Coffee, Brownies Unlimited, Bruno’s Barbers, Buffalo Wild Wings, Chicco, La Lola Churreria, Fitness First, HiPrecision Diagnostics, Huawei, Ideal Vision, Italianni’s and many more to come.
  • Send Money right at your doorstep with LBC PesoPak.
  • Pay other Coins.ph user or ask for payment to Coins.ph user and non-user.
  • Receive Bitcoin payments using your Bitcoin wallet. A word of caution, convert your Bitcoin to Php immediately to avoid losses because of the volatility of Bitcoin price.
  • Dozens of promos that can save you a lot of money.

Coins.ph Promos

Referral Program – Get P50 every time you refer a friend. You may refer a friend by asking your friend to register in coins.ph using your invite code. If you are new to coins.ph, please use my invite code 9uc3jr

Load Rebates – Get 10% back every time you buy load.

Bill Rebates – Earn P5 every time you pay a unique bill.

Get ID verified – Get P10 and unlock all services offered by coins.ph

Game Credits Rebates – on certain events, coins.ph offers 50% rebates on Game Credits at a maximum of P350 worth of rebates.

Other event promos like Bill Rebates, More Referral Bonus, QR Merchant Discounts and more.

Cons of Coins.ph

  • Lack of free cash-in method.
  • High fees for cash in.
  • No virtual cards like Visa or Mastercard for shopping online.
  • You can’t pay for overdue bill.

Fund your Coins.ph wallet

You can Cash in your Coins.ph wallet using several methods. The minimum cash in is not P 500, but I am going to use it to measure the fees incurred for cash in.

  1. 7 Eleven Instant Cash in – P 10 fee for P 500
  2. M Lhuillier ePay – P 35 fee for P 500
  3. Unionbank Online and Cash Deposit – It’s free but you have to pay P 10 for P 500 first but it will be refunded later.
  4. Palawan Pawnshop – P 20 fee for P 500
  5. 7 Eleven Cliqq – 2% of the total amount
  6. Cebuana Lhuillier – Flat rate fee of P 90
  7. GCash – P 10 fee for P 500
  8. TouchPay Kiosk – P 10 fee for P 500
  9. eTap Deposit – P 15 fee for P 500
  10. BPI express online – P10 for P500
  11. Bank of Commerce Online – P10 for P500
  12. Security Bank Online – I can’t use it because it requires business verification.
  13. LBC Bills Express – P10 for P500
  14. Bayad Center – P10 fee for P500
  15. Robinsons Business Center – P10 fee for P500
  16. SM Bills Payment Center – P10 fee for P500

One of the biggest cons of coins.ph is the lack of free cash in methods and high remittance fees.

As you can see, the typical fee for the first P500 peso is P10, which is pretty high for me especially if you like to save little by little. The only free way to cash in is through Unionbank, but you pay the fee first and get the rebates within 24 hours.

Withdraw from your Coins.ph wallet

You can cash out your Coins.ph funds thru;

  1. Cebuana Express Padala – temporarily unavailable.
  2. Security Bank – free and no card needed to withdraw.
  3. GCash – 2% payout fee
  4. Allied Bank – free cash out
  5. Asia United Bank – free cash out
  6. BDO – Flat rate payout fee of P200. It seems that they have issues with BDO for some reason.
  7. BPI –  free cash out
  8. Bank of Commerce – free cash out
  9. China Bank – free cash out
  10. Citibank N.A. – free cash out
  11. DBP – free cash out
  12. Eastwest – free cash out
  13. HSBC – free cash out
  14. Land Bank – free cash out
  15. Maybank – free cash out
  16. Metrobank – free cash out
  17. PBCOM – free cash out
  18. PNB – free cash out
  19. PSBank – free cash out
  20. Planters Bank – free cash out
  21. RCBC – free cash out
  22. Robinsons – free cash out
  23. Standard Chartered – free cash out
  24. Sterling Bank of Asia – free cash out
  25. UCPB – free cash out
  26. Wealthbank – free cash out
  27. Unionbank – free cash out
  28. BDO Cash Card – flat fee of P15
  29. RCBC MyWallet – flat fee of P20
  30. Smart Money Card- flat fee of P500
  31. LBC Peso Padala – fee of P6 to P3140
  32. M Lhuillier Kwarta Padala – fee P3 to P160
  33. Palawan Express Pera Padala – fee P3 to P160
  34. RD Pawnshop – Temporarily unavailable
  35. Tambunting Pawnshop – Temporarily unavailable
  36. Coins Cash Card – flat rate fee of P20
  37. LBC Peso Pak – fee P35 to P3620

Most banks are free of charge when cashing out. I like Security Bank better because of their cardless ATM.

Notable Billers available in Coins.ph

  1. Globe Broadband
  2. Home Bro Ultera
  3. Innove Communications
  4. Sky Broadband
  5. Smart Broadband
  6. Sun Broadband
  7. Cablelink
  8. Cignal TV
  9. Destiny Cable
  10. Met Cable
  11. My Destiny
  12. Northstar Cable
  13. Pilipino Cable
  14. Sky Cable
  15. Verdant Cable
  16. Wi-Tribe
  17. Credit card bills (BDO, BPI, Cocolife etc.)
  18. YesPinoy Foundation
  19. NBI
  20. Pagibig Housing Loan Amortizations
  21. Pagibig Membership Savings
  22. PSA
  23. Home Credit
  24. Philam life, Sun life, AXA life, PRU life etc.
  25. InvestEd
  26. SSS Contributions
  27. Telecom (ABS CBN Mobile, Globe, Smart, Sun, etc.)
  28. Meralco, Maynilad, Manila Waters and other utilities

Conclusions

You can really save a lot of time and money from paying bills using Coins.ph, but that depends on what you prioritize convenience or savings. Maybe, you’d rather pay a small fee to easily cash in to any 7 eleven branch or you’d like to cash in for free using Unionbank. Whatever floats your boat. Coins.ph offers the solution.

I’ve been using Coins.ph for 2 years now and profited from buying Bitcoin at a low price and then selling it at a win. Overall, I am satisfied and never had any technical difficulties with their system.  

If you want to start using coins.ph. Please do not forget to add me as your referral on your registration. Use my invite code “9uc3jr” excluding “”.

Thank you for reading Coins.ph Finance App Review and Happy Holiday.

Francis Noel Nocete

Blogger | Intrapreneur = Entrepreneur + Employee | Investor | Book Enthusiast |

Francis Noel Nocete

Blogger | Intrapreneur = Entrepreneur + Employee | Investor | Book Enthusiast |

One thought on “Coins.ph Finance App Review

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