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.
Topic: coins.ph as Bitcoin wallet - page 4. (Read 2104 times)
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.
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.
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.
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.
And this topic should be in this section of the forum.
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
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.
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.
You have many options, such as Bitcoin Core, Electrum and Armory for desktop and breadwallet, electrum and mycelium for mobile.
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!
Jump to: