There has been a lot of buzz about cryptocurrency specifically bitcoin and by now you should not bitcoin is hot! So you want to get into bitcoin? First you need a coin wallet. If you are a Filipino there are limited options that you could choose from. So far the only option right now is Coins.ph. Off course there are alternative but they do not operate in the Philippines.
So what is a coin wallet? A coin wallet is where you store your bitcoins. If you are residing in the Philippines, you should get a coin wallet from coins.ph. They have been operating since 2014 and that is a good sign that it is not a scam. Coins.ph is the only company in the Philippines where you can store your bitcoins. But aside from storing your cryptocurrency, it offers a lot of cool features.
Buying and Selling Bitcoins using Coins.PH
You can purchase and sell bitcoins using Coins.ph. First you have to put some money on your Peso wallet which is I will discuss further on this post. The prices for Buying bitcoins is higher compared to selling it.
Buying Price: Php839955 per bitcoin
Selling Price: Php810484 per bitcoins
Total Bitcoins: 0.00845668
If you sell all your bitcoins with this current price, you will get Php6854.004 pesos. So how did I get the amount? Here is the formula
Total number of Bitcoins multiplied by the selling price
0.00845668 X 810484 = Php6854.004
If you have the same value and you want to buy bitcoins with that amount here is the formula
Peso amount divided by the current buying price
Php6854.004 / Php839955 = 0.00815996551377157 (Bitcoins)
If you notice that you will get a lower number of bitcoin when you purchase bitcoins and you will get paid less when you sell them. Obviously since the selling price is lower than the buying price.
Prices normally varies from time to time or to be more exact during the time of your transaction. So when you buy, buy when the buying price is low and sell when the selling price is high.
So how do you load your Coins.ph Peso wallet?
Simply go to a 7-eleven store and find the kiosk where you can load Prepaid cards, Pay your bills or load up you or your GCASH. Just select the last option on the screen for E-money. There are three options there for GCASH, PayMaya and Coinsph. Obviously select Coinsph. You well then be ask to encode your mobile number and the amount.
Please note that there is 2% cash in fee. So if you load up Php500, you would have to pay a total of Php510 pesos. Good thing about this is that you will receive your pesos immediately.
You want to load Php500 via 7-eleven
Payment Method: 7-eleven instant cash in
Payment Method Fee: P10 (2% of your load)
Coins Fee: P0 (No coins fee)
Total Amount due: P510
There are other means to load. You can go to M Luhuiller as well however the prices are a bit higher. Aside for the Coins fee of 1%, you would have to pay MLuhiller Epay 5% of your total load.
You want to load Php1000 via M Luhiller
Payment Method: M Lhuiller ePay
Payment Method Fee: P50 (5% of your load)
Coins Fee: P10 (1% of your load)
Total Amount due: P1060
Gcash is another option it is almost the same with 7-eleven , the only difference is that GCASH doesn’t have a Payment method fee but they do have a coins fee of 2% of your load. So basically you would paying the same amount if you are using the both payment method.
You want to load Php500 via G-cash
Payment Method:Globe GCASH
Payment Method Fee: P0 (No payment method fee)
Coins Fee:P10 (2% of your load)
Total Amount due: P510
Once you have some money in your Peso wallet you can convert it to bitcoins which I have discussed. You can also buy load for your Prepaid and Broadband SIM card for all the network in the Philippines or pay your bills using your peso wallet balance.
You can load your TM, GLobe, Smart, Talk and text and your broadband sim using Coins.ph with a 10% discount. Not bad right? Just type in your mobile phone number and select the denomination and your are done. Currently load promos are not available but would be available soon.
Paying your bills
You can pay your boardband, cable channel provider, credit cards, home credit, Government,merchant, insurance, SSS contributions, Philhealth premium, tuition fee, telecom and utilities using coins.ph.
Here are the list of Bills that you can pay using Coins. PH
Bayan broadband, Converge ICT, Globe broadband, Home Bro Ultera, Innove Communication Inc., SKYbroadband, Smart Broadband and Sun Broadband Postpaid.
Cablelink, Cignal TV, Destiny Cable, Met Cable, My Destiny, Northstar Cable, Pilipino Cable, Sky Cable, Verdant Cable, Wi-tribe
Allied Bank, Asia United Bank , BDO, BDO American express, BPI, Cocolife, Eastwest bank, Equicom, HSBC, Maybank, Metrobank, OptimumBank, PNB, PS Bank, RCBC Bankard, Security Bank Diners CLub, Security Bank Master Card, Standared Chartered Visa/Mastercard, Tiaong Rural Bank, Unionbank Master Card and Unionbank Visa.
National Bureau of Investigation (NBI) and Pilipinas Teleserrv, Inc. (NSO)
Marketplace.ph and Pawnhero
AXA life, Ayala Life, Fortune Care, Manulife Plans, Paramount life, Philam Life, Pioneer life, Pru Life U.K., Prudential Life, Sun Life of Canada.
SSS for Farmers and Fishermen, OFW, Salary loan. Self Employed and Voluntary member
Philhealth premium for government employee, OFW, Private and Voluntary
La Salle Greenhills, Miriam College and University of San Juan – Recolletos
ABS-CBN Mobile, Bayantel, Digitel Communications, Globe telecom, PLDT, Smart Communications and Sun Cellular
Cotobato Light (CLPC), Davao Light, Iloilo Electric Cooperative (ILECO 1), Laguna water, Manila Water, Maynilad, Meralco, Meralco Kuryente load, Subic Water and Veco.
Paying bills is convenient with coins.ph, I reduces the time that you spend lining up when you are paying your bills.
If you want to get into Bitcoins and Cryptocurrency and if you are Filipino, the only option is to register with Coins.ph. Bitcoins has been soaring this year and despite having slowed down over the weekend, it seems to be pick up steam again. I have been testing the waters and have invested a small amount of Php6,000 since Nov 29, 2017. It has earned up to Php1500 so far.
I have invested that amount only because it is the only amount that I am willing to risk for now. I am still on the learning stage. If I started earlier, then gains would be bigger. Remember the value of bitcoins at the start of the year was only $800 (roughly Php40,000). The price of bitcoin soared as high as $18353 last week (roughly Php917650).
If you still don’t have a coin wallet You can register with coins.ph. You would need a government ID to be verified. And for pro tips on how to invest in Cyrptocurrency, I highly suggest your try Crypto Investing pro – Bitcoin and Cryptocurrency made Easy. You will learn pro tips on how to make make money with Bitcoins and Cryptocurrrency.
PS. By joining coins.ph and Crypto Investing pro using the referral link I would get a small commission. So help a brother out. If you do I am truly grateful and if not, that is just fine. I just wanted to be upfront with everyone.