Bitcoin Forum

Hi Guys! I I just want to hear out your thoughts about coins.ph as Bitcoin wallet. I am actually using coins.ph and this is the only Bitcoin wallet I am familiar with. I am wondering if I should switch into a better Bitcoin wallet or coins.ph is a good option already. If not, may you guys suggest other options that may be better or more convenient to use. I know there are a lot of other Bitcoin wallet suggestions and I am willing to try out the others as well. Thank you!

As far as I can see coins.ph is a web wallet, so yes, I'd advise against using it.

You have many options, such as Bitcoin Core, Electrum and Armory for desktop and breadwallet, electrum and mycelium for mobile.

Coins.ph is an exchange wallet so I'd highly recommend you not to use it to store a huge amount of moneh. They are very strict in their policy and you may end up having no access in your wallet if you fail to comply with their TOS. I'd suggest you to only use it if you are selling or buying btc and store your bitcoin in a wallet whdre you have full control of your address and funds.

I have read some opinions and answers in this forum. I came to the conclusion that the best of the exchange wallet or online wallet is less secure and much safer to use offline wallets. Because the offline wallet has a private key that is held by us

Though I personally know the people behind the said exchange, I advise you not to keep all your bitcoins in their wallet as the service is a hot target for hackers and fraudsters. It is always best to have your own wallet which you fully control so that if shit goes down the drain, you still have your backups to start over again.

And this topic should be in this (https://bitcointalk.org/index.php?board=222.0) section of the forum.

Coins.ph is a exchange wallet. Like what we always says here, if you don't have control of your private keys then the coins is not yours. You can only used it if you want to convert your bitcoin to fiat (PHP). But as far as know, they are good wallet specially for Filipinos here in our forum. But I suggest you don't store huge amount in them, as hackers are really looking for ways to exploit exchanges now because of the huge money involved. Although I like their features like paying water, electric and even internet bills and you can exchange your bitcoin in an instant in a bank near you. You need to be verified though (just like any exchanges for that matter)because they are KYC/AML compliant.

bitcoin.ph is a great site for bitcoin. As I have heard it was a local exchange in the Philippines that is commonly used by Filipinos. But lately there are many clamor as that site charges Four dollars (4$) per transfer of coins to other exchanges or to external wallets. And so my I advise is to only use that site if you want to convert your bitcoin into your local currency or also known as Phillippine Peso. I do recommend blockchain.info wallets if you prefer a web hosted wallet. In my experience this site has fast and reliable transactions and so I recommend it highly.

Well, it is an online wallet which usually means it is easily accessible and not that safe, I don't think you can set custom transactions fees in it also. The disadvantages of online wallets include them having access to your private keys, not you which means they can run away with all your bitcoin at all time.

For example, the wallet Tor wallet was an online wallet that turned scam a couple of weeks back. Since it was an online wallet the founders could just run away with all the Bitcoin and that's what they did. Even though coins.ph might look like it isn't a scam, it could easily turn into one. Please consider using more safer wallets such as desktop wallets or even better, hardware wallets.

Only use coins.ph wallet if you are going to exchange your bitcoin to peso, otherwise, store your bitcoin in other wallets. You do not have your private keys if you use coins.ph wallet so you really do not have control over your bitcoin.

 Electrum is a good wallet and it is lightweight.

Hi kabayan!

No. I would not suggest that you use coins.ph. Coins.ph doesn't give you access to your private keys, which is a huge factor in my book.

"If you don't hold the private keys, you don't have bitcoins"

Did you know about the btc:bch split? If your bitcoins are in your coins.ph wallet, then pretty much they own your bitcoincash(bch) now, and there's no way you can retrieve them. That's only one of the reasons out of many why I don't use wallets like coins.ph. Depending on what device your using, use electrum, breadwallet, or copay instead.

By the way, join us at pinoybitcoin.org  ;)

That is right, you are not holding your private keys and others say that when you don't hold the private key of your wallet, that means you are not holding your Bitcoins. I prefer MyCelium than Electrum, from what happened to me this day, I think I will go to MyCelium.

As everyone else said, avoid web wallets if you're dealing with large BTC amounts because you do not control your private keys.
They are fine for smaller sums, but for larger ones use offline wallets such as Core or Electrum where the safety of your BTC are guaranteed.

For huge amounts, using a paper wallet or a hardware wallet such as a Ledger Nano is even better.

Coins.ph is actually a good wallet but it is better if you store your bitcoins in a much safer wallet or in an offline wallet. Was thinking of buying a hardware wallet to make it more safe if I had the right budget for it.

Hello there! Based on my experience about coins.ph as my bitcoin wallet, it's ok to use that since I was a new in bitcoin before, these is the wallet that I 've decided to use since it was a little bit familiar for me. Also it was easy to use and understand the terms. If you are willing try other online wallet, I would suggest to something. Try this two (https://paxful.com/) and (https://blockchain.info/wallet/). I hope you that was help you.

Coins.ph is a legitoney wallet.With coins.ph your money

It is a good option that you choose coins. Ph. This is very good wallet for many people that are using bitcoin and this is very nice and convenient for everyone.  I am the one who are what they called living evidence that this is very trusted wallet.

What exactly is a coins.ph wallet? Isn't it demografically locked, basically made for a certain country?
I registered there, but when I try fund my account there are only methods, which are not avaible for my country  :-\

it is made in Philippines and does provide lots of features that are needed in ph payment transaction having some benefits too. It can still be used i think in some asian countries but with limited options.

Yes coins.ph is Philippine base bitcoin wallet provider that fits of what we need here in my country, I used there services more than a year and they are trusted. I think some other country must have the same concept of coins.ph services too for the benefits of there people and also the government. 

I wouldn't use it unless you had your own private keys, and it's not clear to me
if they let you have them.  Probably not.  Even if you're Filipino, can't you
just use a normal wallet like electrum or anything else?   Why go with a wallet
provider (whatever that means) that could be sketchy as hell?  Why bother?

Coins.ph is bitcoin wallet base here in my country from Philippines. This is most use web wallet here because its easy to convert into fiat that anyone here could cashout their bitcoin to bank account and remittance anytime. Im using this for many years now so far I didnt encountered any problem. But ofcourse if you will save huge amount of bitcoin you have choice to use a secured wallet with private key's like electrum wallet.

I did not said that it's not legit. Infact I am using it but I just want to inform OP that it's an exchange and we all know that exchanges are less safe than wallets where we can fully control. Also, what they said is right, it's demographically available to some country(mostly asian countries) it's not available for people in US and has limited functionality to people outside the Philippines.

It's a legit but some posters here are correct, you don't have your own private keys. and it's an exchange, their selling and buying is not proportional to the bitcoin real time amount  ( it's still a business though that's why its understandable) you can create your own wallet thru electrum so that you can hold your private key and being sure that you own your money without a third party account handling it just like coins.ph

Hi. If you are storing a very huge amount of btc, certainly coins.ph is not for you. (As for me, I only use this for cashing out btc into fiat). There are a lot of wallet out there where you have your own private key. Mycelium and electrum is the most common one. There is a thread out here in beginners that can help you on which wallets to choose from.

Since coins.ph is a web wallet i usually store not more than $500 in my wallet. Tho what i like about their service is that they have a lot of freebies that a philippine citizen can used to increase their income but as per caution even if they have a good service.

i use coins.ph as my mobile wallet, i is easy to use and you can have a lot of rewards to redeem, however when it comes to storage of my bitcoins i use a different wallet, I also store it in to an external hard drive so as not to be hacked, I just make sure that all my bitcoins have back up, since we are living in an advance era, it is easy for hackers to hack your wallet, just be sure, if you use coins.ph though it is secured by the site, make sure to only store a minimum amount of coins, it is still better to be safe than sorry.

Coins.PH seems a good & trusted wallet i've been encounter since i enter crytpo world. All transactions I make is smooth so i guess i can recommend this to others especially co-Filipino users cuz it is the only trusted wallet here in Philippines, but i heard that rebit is good to. Didn't tried yet but maybe soon.

If you see yourself as a future bitcoin enthusiast, I suggest to buy a hardware wallet and only use coins.ph to convert fiat to bitcoin. Do not store bitcoins in that site for long because you cannot tell what may/can happen to it. I keep as little as 0.05 btc in it, anything more than that goes straight to my hardware.  ::)

Coins.ph is a phillipian web wallet, also has amdroid app. I got a virtual debit card with some preloaded bits. Leter on you can reload with bitcoins but all these benefits are only given when you verify your account with real identification documents. Not recommended for everyone but to philipians

coins ph is a good online storage of bitcoin wallet but do not store high value of bitcoins there because they are so strict if you fail to comply with their terms of service and theres a tendency you will lose your access to your bitcoin funds.

You'll hear it from everyone here. Don't use a web wallet unless you control your private keys. That having been said, this is generally the advice for storing Bitcoin. If you're really just going to exchange your coins, then coins.ph is not a bad place to use.

I do store a small balance on my favourite exchange (LBC), sometimes I even have small balances sent to it until it accumulates enough for me to sell. Why? The main reason is so I can instantly sell it when I need it. With LBC I find a buyer, sell for fiat, and everything is completed under 5 minutes. The secondary reason? I save a little on tx fees. If I were to receive 20 txs and send them off bulk to LBC when I want to sell, it'd be a big chunk of data to pay for.

Coins.ph is the biggest exchange in your country, so if you use it a lot, it would make sense to receive directly into the wallet - if you know you're going to sell.

Well, I guess coins.ph in my opinion has the same similarity to coinbase, where they are capable to ban their client if you violate there rules. But in terms of usages it is very helpful including myself, I most often used coins.ph for encashing money through remittances, and I agreed that never store a huge of bitcoin on coins.ph its not because I don't trust but for security only. Much good to sotre it in electrum wallet :)

Coins.ph is a good wallet based on my research and a lot of filipinos prefer to use that wallet aside from the international wallet because they can use it to pay bills, buy loads etc. they can also use it to easily cash out their money to remittances or to their bank account which is really awesome for the filipino bitcoin users in the philippines.

  I agree. You don't have access to your private keys when you are using an online wallet. Just use coins.ph when you are exchanging your BTC to Php. Don't use it as a wallet. And like what he said, I also recommend using Electrum.

coins.ph wallet is one of the best online wallet that i have use. I store all my earnings here in this wallet and i dont face any problem using it. I can buy internet and phone load and buy gadgets through online and also paying my utility bills like phone bills, electricity bills and water bills.

I am using coins.ph now but reading the replies here in the thread, I might consider to avoid using it. I doubt when they required to have a government issued identification to have your verification. Well, it is worth a try, isn't? ???

coins.ph is a mobile and a online exchange wallet. It means you can instantly convert your bitcoins into php (vice versa) there are many good features about this wallet you can buy load instantly, pay bills, pay tuition fees, and buy game loads. You can also use bank to withdraw, remittance center, pick ups etc. but the bad thing about this is that it's an online wallet meaning your paraphrase password is stored in their server or they hold your key if a hacker hacks their system they may take your password and may have an access to your account and may take your bitcoin or money. i suggest that don't put a big amount of money here for your safety or if you're just going to withdraw your money instantly use it. but if you want to put a large amount of bitcoin use a hard wallet or a wallet that let you hold your paraphrase password.

Do you have control of your private keys? If not do not use it.
I'm ok with blockchain  8)

Okay, first please move this to web wallets instead of posting this in bitcoin discussions. You can do so by clicking the link in the bottom left corner and selecting service discussions -> web wallet. This isn't the appropriate place to post this sort of inquiry.

Onto your question: No, i do not think that coins.ph is a particularly good choice for wallet.

Reason simply being that they have control over your bitcoins, not you. You don't hold any private keys to your bitcoin. They are trustworthy now, but ultimately if a court order is filed against them then it could potentially mean that your account balance is frozen, or just gone.

It is convenient though, especially if you live in the Phillipines. So I'm not saying don't use it at all, use it for smaller amounts. For storage of larger amounts of bitcoin, use a desktop wallet like Electrum instead.

  Same goes for blockchain. It is not recommended to use a web wallet mainly blockchain because you don't have control over your coins. You don't hold the private keys to your bitcoin. Use a desktop wallet instead. Like what most of us here recommend on using, I recommend using Electrum.

That is an exchange wallet, dont store all your coins there, someday there will be lost and you dont want to be included in that.

I personally use coins.ph wallet and for me it is okay.  They are yes strict with things like you have to verify your identity but doing this means you are secured.  I actually think of that before if it is okay to have a web wallet as sometime I feel like it is not safe.  But the convenience it has given me is so good.  I can load my phone, pay my bills, withdraw my cash through atm without having a card.  Everything is good and I can even buy bitcoins through this wallet thru banks and convenience stores.

I suggest you to use other wallets like SPV wallets like electrum and mycellium. I use only coins.ph wallet for cash withdrawals. But if you are only store small amounts. I rather use coins.ph wallet because the fee is not so cheap. I will only cut your money because of the fee. Anyway, coins.ph i think the most trusted local bitcoin wallet in our country. So im confident using it since i have small amounts only.

If you are not confident using this wallet then don't use it. But it will be a lot harder how to convert your btc into cash. I Haven't use Abra as alternative to coins.ph. That's our only options as far as i know. If you want to keep your btc for long term. Then use offline wallets or cold wallet to preserve.

I've been using it for months now and so far nothing bad happens. But I just use it for converting fiat as it so easy to convert here. I didn't store huge amount of coins there as coins.ph is an online wallet.

You should only use this wallet when you are going to cash out or convert your bitcoin to pesos and withdraw it to your preferred bank, but do not use it as storage to your bitcoin for a long time, it's still better that you have or own the private key of all your wallet

I'm also using coins.ph , and for me it's a nice a wallet. I haven't try other wallet but I am satisfied woth coins.ph , because I can do my transactions using it, like paying bills, paying the things I bought online and can also cash out anytime. I'll stick to it, cause it's a user friendly wallet and very useful for me.

This company are good with customer services.
I have been to many problems with withdrawing my bitcoin here but it was always resolved in less than a day.
I mean they are really fast when it comes to answering the query and e-mails of their customer.
Vouching for this one and with their different features that are all lovely.  ;D
For now, the bad thing would be the amount to withdraw per day which might be a problem in the future if ever bitcoin grows in price at a very high number.

Same here. The only reason why I love coins.ph is you can transact in no time. It is good as well when you cash out in the bank cardless. And, definitely it is so handy because it's just in your phone unlike before you are getting money from your wallet an old wallet that we use from ages but now it is with technology's hand. Thanks to coins. ph and bitcoin. Great collaboration.

There is no need to switch. What you should do is to add more wallet service providers instead of just having one. Coins.ph is very much convenient when it is time for you to convert your Bitcoin to the local currency. You can withdraw your money from coins.ph in minutes. You can look at Abra because I heard some reviews about it.

If you are from the Philippines you can use that exchange as your bitcoin wallet. But as advised use it only as an exchange.

You better use it upon transferring your funds and just sell it directly it to them or by converting your bitcoin into cash.

Better choice as wallet is electrum.

I've been using his exchange for some time now and so far I don't experience any issues with them. Staff are OK although the response time is not that good but still I will give them 4 out of 5 stars. I just used them to convert to PHP and I'm not storing huge amounts of funds in there. I know that risk that's why I do it, but of course if I have large amount of bitcoin I will safely secured it in Electrum.

I recommend the Electrum for you.
It is actually a good wallet and it is secured.

yeah coins.ph is an exchange wallet. and when you have a huge amount on your coins.ph wallet they will hold your account and they ask you some question about that. it is a very secure wallet otherise very strict in their policy. not recommend in storing some BTC but recomend in exchange or reciever or small amount of bitcoin but not to much. just avoid that happen.

But exchange will always be exchange, you don't have the private keys or any control with them.

If you are aware that there's a lot of exchanges before that was hack and that you should be aware of.

It's not bad to trust them if they are legit operating but to be secure with your funds is the most important matter of all.

Coinsph is a nice wallet if you are going to buy bitcoins and when you are going to send/withdraw your bitcoin to any bank, remitances and many choice since coinsph is an exchange, but if you are going to hold your bitcoin in long term then I must suggest that use a desktop wallet like electrum.

Coins.ph is a philippines based company that provides block chain based services.It has a special feature in it which is lacking in other wallets.You will be given two bitcoin addresses,one peso wallet and other bitcoin wallet.You can send directly bitcoins to bitcoin wallet and it will be received as bitcoins.If bitcoin is sent to peso wallet,it is converted to peso and stored as peso,the philippines currency.With this service,you could even pay bill payments,online shoppings and mobile recharge,etc.But in other wallets,you could only store,send and receive bitcoins.

Electrum is very good but let's consider how will you be using your bitcoins. I also use Coins.ph and yes I can say they are not that good if we are talking about security and other features like holding the private key. But I do use it because it is partnered in my bank making my transactions to my bank account free.

Well said, I am using Coins.ph because of this reason too. I think you are talking about the Landbank if I am not mistaken. Eversince I first earned my first coins I am using this wallet. And since I am used to it, when I use other wallets I become confuse.
Right now I am using two wallets Electrum and Coins though I just send bitcoin to my coins wallet to send in my Bank Account.

Electrum is safe and secured wallet just save your private keys/seed and all is well. With regards of coins.ph so far I didnt encountered any problem and fast response with support. I used this coins.ph for almost a year now that is easy to use, easy to cashin and cashout your bitcoin funds into fiat.

If you are a Filipino then the easiest and most convenient way to convert your Bitcoin to Philippine Peso is Coins.Ph they have an in-app exchange that has fair exchange rate. And I notice that their are several members here concerned about the security of the site, as far as I know Coins.Ph is a registered business in the Philippines and is required for you to verify your identity in order to cash in and cash out large amounts of money with them. They also have an office in which you can voice out your concern.

Coins.ph is very popular in the Philippines, the easiest way to cash out into fiat. But as a wallet, I think this is not a good choice. Better to use electrum or if you want to store it for long term try trezor for better security.

No we dont have a control with our private keys since this is just a shared wallet. Blockchain has ridiculous fees but in coins.ph you can have the freedom to choose a lesser or has 0 fees. Aside from that people should also understand that they are not just an exchange site but they are more likely to have a variety of services

It's fine to use coins.ph as bitcoin wallet. Very the same with coinbase but I will always prefer to the wallet that I have the private keys. Top choice here is electrum you have the seed, private keys, master keys. This will do help you for security.

Lmao…I wouldn’t even recommend such to a person. Like are you serious? Bread wallet? That’s not a good mobile wallet, and you shouldn’t recommend such, it even has a rating 3 out of 5. Mycelium, has a lot of complaints. I don’t know about Electrum, but it’s all choice. I make use of Xapo, Blockchain.info, Coinbase (stopped using Coinbase).

Coins.ph is actually a nice wallet and I think most people that use it are Filipinos. It actually has a nice feauture where in you can reload your mobile phone in certain amounts and you get 5% back for each transaction. It is good for storing small amounts of bitcoin or satoshi but I wouldn't recommend storing large amounts since you got no control on the keys and you're gonna have a problem converting your bitcoin to other currencies aside from Philippine Peso.

I agree but you can't rely on it too much and use your every transaction on it since you do not hold the private keys to your wallet, you can never be too safe on the facts that they could get your bitcoins and run away with it, but I think it's still safe. If you are going to save, then try a different wallet that you could hold the private keys and the mnemonics if you have. Try a cold storage device.

Coins.ph is the well know crypto exchange in the Philippines and you can do lots of things in that exchange, one is you can do trading fiat to bitcoin or vise versa and now they launch beta tester for ethereum and hoping it would be successful to make us able to received other coin. Also i recommend to used coins.ph as small business by selling load and as remittance center specially if you are in remote area or in subdivision.

Thank you for mentioning about the ethereum wallet but from the looks of it, it only supported android OS so far. As for business of selling load, I don't do that, I just usually load my self and my family members if I have dust amounts in my wallet.


Well everyone here knows that in a trading exchange, we don't have the control of the private keys and coins.ph is not an exception. But I have known some friends of mine holding 6 digits in coins.ph and so far nothing has happened. I myself don't have huge amount though, I immediately convert my funds to local PHP and I hold most of my btc in a wallet like Electrum and Bitcoin core for far more control of it.

With this conference that went one then maybe this will bring more exposure to the population there and will then bring on more appeal to start a new exchange to be available to the people there and not just have them rely on one sole entity there.
https://bitcointalk.org/index.php?topic=3031991.0