Bitcoin Forum

Hello fellow bitcoiners! We are excited to share that Wall of Coins (http://wallofcoins.com) , a peer-to-peer market, has recently opened its doors here in the Philippines.

Wall of Coins is a platform that allows users to buy Bitcoin with cash or sell Bitcoin for cash in a peer-to-peer manner. We are also the first fully transparent market, and the first to store funds entirely in cold storage.

You can check the recent updates and reviews here (https://bitcointalk.org/index.php?topic=812397.0).

rates are ridiculously very low, P15,800/BTC on your site while the leading exchange site here in the Philippines P17,600+ so 1,800 difference which is $20, im fairly sure no one here will try your site to sell bitcoins

about your buy rate, is pretty low too so its kinda shady you are selling bitcoins in such low price

Hi! The rate you have seen in our homepage is technically the last order made by a buyer, not the buying rate. You will be able to see the rates from the ad of the seller once you make an order. Also, sellers have the choice to set the rates they want. You can set a specific price or choose a dynamic priced based on an existing exchange rate.

the display shows the buy rate of P15,800/BTC so i tried placing a buy order but in the page and it shows P20,000/BTC? why it shows different rates?

Again, the rate isn't 15,800 at all. The one you checked was the last order made.

20,000/btc?? There's none of that. Perhaps you're checking a different exchange, eh?

I can say that he is really looking at your site man. I did tried to put a buy order and then it connects me to some BPI account that has a sell order for Php 20,000/btc.

How much PHP did you tell the system that you wanted to "spend"? Wall of Coins factors in any fee for buying -- and the more you spend, then naturally the fee is much lower. Give that a try.

Btw, some useful links for Wall of Coins Philippines...

Order book...
https://wallofcoins.com/api/public/v1/orderBook/BTC/PHP/

Ticker...
https://wallofcoins.com/api/public/v1/ticker/BTC/PHP/

You set your own rate on Wall of Coins, so if you want 20,000 PHP per each bitcoin....you'll have to hope for a buyer to buy that up! Instant coins for cash are pretty valuable, so I wouldn't be surprised if you got 20,000/BTC  ;D

So, in a matter of an hour, from 20,000 Php down to 17,543 php for spending 1,000 php. I'm intrigue, does this mean that the sell order for 20,000 php has been executed? I mean, if I want to buy, of course I will go for the lowest selling price. It would be better if the buyer can choose the lowest price. My impression is that the site is the one connecting you to a seller (which is basically why is called p2p transaction) but naturally the buyer is always looking for the lowest price, right? Every peso counts man.

looks like i understand now, so we should create an "order" for buy and sell and wait for someone who are willing to buy or sell on our set rates? thats kinda cool then. ill wait for more feedback before i try again your site :)

Yaaaa you got the idea! :D When you go to the site to buy bitcoin, the website shows you the lowest price because--of course--that's what you want!! Basically, it's a system that gives you what you want.

Btw, I see the banks supported in the Philippines are...

https://wallofcoins.com/api/v1/banks/?country=ph

* BDO Unibank
* BPI
* Metrobank

...any other popular banks missing?

thats the top 3 banks here in the Phillipines, maybe it is better if you can support this

- Philippines National Bank
- UnionBank of the Philippines
- LandBank
- Security Bank
- ChinaBank

Is this like localbitcoins? I took a quick look. Seems it has been around since last year, but only recently opened in the Philippines.

How long does it take for withdrawn funds get to you bank account? I checked the Common Questions page but it is not there.

We may function similarly as we do escrow. However, we can do sales to sell coins, have customer support for live chat, phone and email, and make solution to filter further fraudulent transactions (which we have been doing already even before we opened here in the Philippines). Yes! We recently opened here.

Buyers will deposit straight to the seller's account. Their ordered coins can also be released from our system as quickly as 15 minutes as long as there's no further issues with the order/deposit.

However, for a seller, we can withdraw your coins as quickly and safely as possible - just message us via live chat or email.

That's great if the Pesos acquired after selling the coins will go to our local bank accounts in an hour as the current system here has quite a delay.

can you check if there is really a bank transfer happened before releasing coins?

We don't really allow Bank transfers yet. However, we do don't release the coins unless the seller has confirmed a deposit or the buyer has proof.

What if a payment happened and the seller said he didnt recieved any amount from the buyer? Are you able to cover or atleast verify such things?

This really isn't something to worry about. The buyer supplies proof that they made a deposit, and the seller needs to provide proof that they didn't pay. It's that simple and since conception this has never been a problem on Wall of Coins :D

So buying ang selling coins on your site will take lots of time before recieving the coins or the cash?

Releasing the coins might take just 30 mins but the verification of whether the money has been transferred might take time especially if the seller is not online at that moment.

Buying / Selling takes *much* faster than that. With cold storage, we're faster than anyone else on the planet. 99 out of 100 orders are released in less than 15 minutes. Bam!

Some other points:

* Seller doesn't have to be online. (this isn't Local Bitcoins)
* We also assist sellers with verification (optionally)
* The system always serves you the fastest responding sellers and the lowest rates.
* Sellers who are consistently slow to respond.....they get the boot!

Much better if you have a physical office anywhere around in ph.

why?

so that customers with issues can directly go to your office instead of email/chat assistance

Much better if you have rewards section for doing missions on your site just like coins.ph  just suggesting ;D

why would they want to travel, when they can call for voice assistance? ;)

Also for bonski: rewards are cool :) thx

Yeah, great I'll get into it when there's already one.  :) Good luck wall of coins.

some issues cant fixed through calls. we all know that

...what issues? Wall of Coins is so plain and simple, there hasn't been anything that we haven't been able to fix through a call.