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franco123
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August 05, 2017, 11:22:55 AM
 #1

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!

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August 05, 2017, 11:45:52 AM
 #2

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.
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August 05, 2017, 11:53:48 AM
 #3

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.

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August 05, 2017, 12:09:31 PM
 #4

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
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August 05, 2017, 12:19:09 PM
 #5

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 section of the forum.

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August 05, 2017, 12:22:35 PM
 #6

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!

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.

 
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August 05, 2017, 12:25:43 PM
 #7

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.

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August 05, 2017, 12:29:03 PM
 #8

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!

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.

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August 05, 2017, 12:42:33 PM
 #9

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.
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August 05, 2017, 12:42:49 PM
 #10

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!

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  Wink

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August 05, 2017, 12:51:44 PM
 #11

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.

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.
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August 05, 2017, 12:59:56 PM
 #12

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.
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August 05, 2017, 01:04:34 PM
 #13

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.

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August 05, 2017, 01:28:23 PM
 #14

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!

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.
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August 05, 2017, 01:49:59 PM
 #15

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.
Coins.ph is a legitoney wallet.With coins.ph your money
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August 05, 2017, 01:58:14 PM
Merited by Magkirap (2), moonami (2), magmar (1)
 #16

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!
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.
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August 05, 2017, 02:07:37 PM
 #17

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  Undecided
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August 05, 2017, 02:38:09 PM
 #18

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  Undecided
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.
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August 05, 2017, 03:53:15 PM
 #19

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  Undecided
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. 
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August 05, 2017, 03:58:26 PM
 #20

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?

 
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