A few days ago, we’ve talked about the topic of custodial and non-custodial wallets. I’ve mentioned there that I’ll be having another post about why I’m not using Coins.ph for my crypto transactions anymore. Today is that day.

Coins.ph has been very popular with us Filipinos because of the great financial services it offers. It even allows a regular person to start a home business for processing bills payment and selling load from it. I really love using it. I’ve been using the app since 2013 up until today.

Yes, I’m still using it until today but not for cryptocurrency transactions anymore.

I stopped using coins.ph for cryptocurrency transactions in 2017 because of some reasons but not really bad reasons. It’s fairly because of my own changes in how I use cryptocurrencies.

1st reason why I don’t use Coins.Ph for crypto transactions

They have limited currency support. Of course, they have the main cryptocurrencies like Bitcoin, Bitcoin Cash, XRP and Ethereum.

But there are so many cryptocurrencies right now that I am trying hodl(hold on dear life). Due to its limited support, I am no longer gonna be able to utilize the service for holding my cryptocurrencies.

Also, I really felt bad in 2017 when they say that they won’t support BCH (but now they have it on their wallets) that’s why they won’t give BCH airdrop for Bitcoin holders. BCH airdrops at that time mean that when you have BTC holdings on your wallet you’ll also receive the same amount of BCH(almost all wallets gave that even the bitcoin faucet I’ve used gave BCH).

2nd reason the price of buying and selling cryptocurrencies with Coins.PH

I have seen different rates on their platform and they usually have quite inconsistent rates for other currencies. Here’s an example for XRP with Coins.PH and Wirex. Sometimes it also happens with Bitcoins but it’s not really a huge deal. However it depends on the buying volume, I would definitely prefer to buy with lowest cost if it’s a bigger amount.