Coins.ph and the Growing Trend of Cryptocurrency in the Philippines
Coins PH

Coins.ph and the Growing Trend of Cryptocurrency in the Philippines


The concept of cryptocurrency is relatively new in the Philippines. Most of the time, it's associated with scams since many people who have decided to grow money using this method have only heard of people who use it for extorting money from innocent people. However, there's a mobile wallet native to the Philippines that embraces cryptocurrency with great pride - Coins.PH.

 

So what is Coins.PH?

 

Coins.PH is a mobile wallet that is available in Android and Apple iOS where the user can sign up for free in order to buy mobile load, pay bills, exchange cryptocurrency with other people, and cash out with bank accounts etc.. Basically, it's a versatile wallet that bridges the gap between real currency and cryptocurrency for many users. However, since its main currency is in Philippine Peso (PHP), its main audience is clear - ordinary Filipinos.

 

Coins.PH menu 

 

So how does this app become helpful to people who haven't even heard of "cryptocurrency trading" or "mining"?

 

For a small fee, you can also get your own cryptocurrency wallet which can allow you to send or receive altcoins. Those who wish to receive or send cryptocurrency to other users, whether they be locals or foreigners, can easily convert their money into their cryptocurrency of their choice after paying for opening their own wallets, and vice versa. Currently, they only support BTC, ETH, and XRP. The conversion rate follows the international trend of the trading market daily, so rest assured that those who wish to do this will get the fair amount that they'll see in the market.

 

Coins.PH wallet conversion

 

So far, this is the only wallet that I've seen that is verified and approved by the government which allows ordinary people to dabble with the trend of cryptocurrency in this country. In addition to that, they can also get the option to cash out their earnings that they've earned from mining or trading into real cash.

 

So how does this impact international users if its main target are people from the Philippines?

 

Well, aside from the fact that it makes trading and mining more accessible to Filipinos, it allows them to think that getting into this trend is a lot more easier than they'd expect, which is one of the reasons why Filipinos have a negative stigma towards cryptocurrency in general. They often think that the only way to earn real money are through jobs and the stock market - and though that's not a bad thing, they don't usually think that cryptocurrency has any value at all because of this line of reasoning.

 

The negative stigma of cryptocurrency having no value at all is something that's fading away in time. Now that people are starting to open themselves to alternative forms of earning, apps like these are a very welcome start to taking away that stigma, especially since the cryptocurrency market is starting to gain some traction worldwide. Hopefully, more apps like these should become more trendy in the long run, and if they're a way to regulate cryptocurrency in order to make sure that its value doesn't become too volatile for anyone's tastes, then it's something that people should look forward to having.

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KwekkersHue
KwekkersHue

A random duck with free time.


Philippine Cryptocurrency Trends
Philippine Cryptocurrency Trends

Trends, insights, and news about cryptocurrency in the Philippines.

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