[WARNING!] For gamblers using coins.ph - page 3.

Eureka_07

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Quote from: Oasisman on September 12, 2021, 06:18:39 PM

Quote from: freedomgo on September 12, 2021, 05:05:04 PM

The rules of the coins.ph especially the major rules are based on the law of the land.

We should not be disappointed if we get our accounts block because ignorance of the law excuses no one, and when it says don't use your account for gambling purposes, then just follow if you don't want any problem.

Well, some people from before who uses Coins.ph wallet to send and receive crypto funds coming from online casinos were Ignorant. They've missed the company TOS which is the very vital step before using a platform. As result, their account was investigated, some of them were freeze, some had their transaction limit reduced.

Now that everyone is well aware about this rule, we can actually use another method to avoid our Coins account associated with online gambling.

I don't think they should be called "ignorant" as it is really has different meaning than what are being discussed here. Probably they just do not know that such terms exists so they're doing it. They're either not informed or they didn't read the terms of service of Coins.ph. Lets not pretend that we all are always reading those

blockman

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Quote from: freedomgo on September 12, 2021, 05:05:04 PM

The rules of the coins.ph especially the major rules are based on the law of the land.

We should not be disappointed if we get our accounts block because ignorance of the law excuses no one, and when it says don't use your account for gambling purposes, then just follow if you don't want any problem.

True. They have reminders upon logging in on account and that's why there's no more excuse if they caught you and traced where your deposit came from.
A lot in the past have been exampled of it but it's during the ATH on 2017. People never read the rules regarding about source of funds and that's why they've also silently implemented a wave of ban to those accounts. This time, they've got a lot of new users that are not aware of it so it's normal for them to educate everyone with this rule that they've got and they're now stricter unlike before.

Oasisman

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Quote from: freedomgo on September 12, 2021, 05:05:04 PM

Quote from: ethereumhunter on September 12, 2021, 09:10:22 AM

Quote from: lienfaye on September 12, 2021, 07:55:50 AM

Quote from: pilosopotasyo on September 12, 2021, 05:20:40 AM

~snip~

The rules of the coins.ph especially the major rules are based on the law of the land.

We should not be disappointed if we get our accounts block because ignorance of the law excuses no one, and when it says don't use your account for gambling purposes, then just follow if you don't want any problem.

Well, some people from before who uses Coins.ph wallet to send and receive crypto funds coming from online casinos were Ignorant. They've missed the company TOS which is the very vital step before using a platform. As result, their account was investigated, some of them were freeze, some had their transaction limit reduced.

Now that everyone is well aware about this rule, we can actually use another method to avoid our Coins account associated with online gambling.

freedomgo

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Quote from: ethereumhunter on September 12, 2021, 09:10:22 AM

Quote from: lienfaye on September 12, 2021, 07:55:50 AM

Quote from: pilosopotasyo on September 12, 2021, 05:20:40 AM

I know how strict Coins.ph when you are sending Crypto but not when you are receiving, so I use Abra or peer to peer when sending Crypto to a gambling site, but I have done it only twice, Coins.ph is very strict and they very strict in where you are sending your coins even if it is a small amount, so it's better to limit your outgoing transaction than incoming.

Thats true, coins.ph are more strict for outgoing transaction especially if you're sending to a non coins.ph account. Well its understandable if they are more strict now, and that is to monitor any unlawful activity. So if you gamble frequently, use another wallet instead and just use coins.ph to cash out.

Fortunately, as crypto users, we have many options to use the crypto wallet to use coins.ph can move their funds to the other wallet and they do not have to be disappointed with the rules. It is our concern to avoid the strict rules from some websites and we do not have to use their services if we think that they can not give comfort to us. I guess those people who use coins.ph can know what they need to do related to the current situations.

The rules of the coins.ph especially the major rules are based on the law of the land.

We should not be disappointed if we get our accounts block because ignorance of the law excuses no one, and when it says don't use your account for gambling purposes, then just follow if you don't want any problem.

ethereumhunter

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Quote from: lienfaye on September 12, 2021, 07:55:50 AM

Quote from: pilosopotasyo on September 12, 2021, 05:20:40 AM

I know how strict Coins.ph when you are sending Crypto but not when you are receiving, so I use Abra or peer to peer when sending Crypto to a gambling site, but I have done it only twice, Coins.ph is very strict and they very strict in where you are sending your coins even if it is a small amount, so it's better to limit your outgoing transaction than incoming.

Thats true, coins.ph are more strict for outgoing transaction especially if you're sending to a non coins.ph account. Well its understandable if they are more strict now, and that is to monitor any unlawful activity. So if you gamble frequently, use another wallet instead and just use coins.ph to cash out.

Fortunately, as crypto users, we have many options to use the crypto wallet to use coins.ph can move their funds to the other wallet and they do not have to be disappointed with the rules. It is our concern to avoid the strict rules from some websites and we do not have to use their services if we think that they can not give comfort to us. I guess those people who use coins.ph can know what they need to do related to the current situations.

Shamm

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Quote from: lienfaye on September 12, 2021, 07:55:50 AM

Quote from: pilosopotasyo on September 12, 2021, 05:20:40 AM

I know how strict Coins.ph when you are sending Crypto but not when you are receiving, so I use Abra or peer to peer when sending Crypto to a gambling site, but I have done it only twice, Coins.ph is very strict and they very strict in where you are sending your coins even if it is a small amount, so it's better to limit your outgoing transaction than incoming.

Thats true, coins.ph are more strict for outgoing transaction especially if you're sending to a non coins.ph account. Well its understandable if they are more strict now, and that is to monitor any unlawful activity. So if you gamble frequently, use another wallet instead and just use coins.ph to cash out.

Being strict is the key to be secured so the BSP( bangko Sentral ng pilipinas) will secure the Coins.ph transactions and this is good example to some wallet . If you transact a big capital in your coins.ph you need to verify First your account and send them government ID's in order to trace.

Beparanf

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Quote from: judeafante on September 11, 2021, 11:47:19 AM

Coins.ph is losing customers because of their strict rules but members failed to realize that it's the AMLA the money laundering council and BSP are the ones that laid down the rules and they just follow what on the rules because they are compliant, so it's better to monitor your transactions and follow what Coins.ph tells its members because it's still the number exchange in the country.

Coins.ph keeps restricting account so they do KYC now and then. Once they found out it is about gambling they will terminated the account. They qill gove documents for you to claim the remaining balance but you will be blocked by their system and not be able to register again. Better find other platforms to use in cashing out if we cant stop ourselves from gambling.

Russlenat

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Quote from: chaser15 on September 11, 2021, 11:10:36 AM

Quote from: Russlenat on September 11, 2021, 07:51:01 AM

This warning is very timely as the government of the Philippines is already starting to imposed stricter rules on crypto industry.

No choice but to follow. Coins.ph is just following regulations given to them by the BSP so others should not blame them if they feel not comfortable with these terms and regulations by the exchange.

We should really expect that while crypto is becoming popular in every country, stricter regulations will be imposed on any crypto-related companies. There are alternatives to transact safely with gambling sites and that's more important.

Better than being in a country where crypto and gambling are totally banned.

Since coins.ph prohibits the use of crypto for gambling purposes, I think that means gambling is also prohibited in the Philippines if we access online gambling sites. Actually, not related to coins.ph. I tried to access some gambling sites, like a fiat gambling site and it prompt that they cannot serve my location, so I assume that it's illegal.

lienfaye

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Quote from: pilosopotasyo on September 12, 2021, 05:20:40 AM

I know how strict Coins.ph when you are sending Crypto but not when you are receiving, so I use Abra or peer to peer when sending Crypto to a gambling site, but I have done it only twice, Coins.ph is very strict and they very strict in where you are sending your coins even if it is a small amount, so it's better to limit your outgoing transaction than incoming.

Thats true, coins.ph are more strict for outgoing transaction especially if you're sending to a non coins.ph account. Well its understandable if they are more strict now, and that is to monitor any unlawful activity. So if you gamble frequently, use another wallet instead and just use coins.ph to cash out.

Oilacris

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Quote from: mirakal on September 12, 2021, 04:44:37 AM

Quote from: Shamm on September 12, 2021, 04:09:58 AM

This thread may help to others so that they will aslo aware regards the coins.ph problem so that they can avoid to use. But aside of this problem coins.ph are very strict on their rules regulations ,they will not accept any secondary ID and it's hard to verify the personal information but for me on this thing it was good because can secure our person information.

Coins.ph is regulated by the BSP or the Bangko Sentral ng Pilipinas, which means they only follow the rules that the BSP has imposed on them, if they will not follow, they will be charge fo the violation and they will not be able to continue their business, that's how simple, so it's not coins.ph that is strict, it's our regulation.

Would really differ into each country but most of the time where Central banks would really be strictly be imposing those kind of regulation and since this is a big business then they wont really be having an option

but rather they would need to comply or else they would really be having a big problem.Ive been using this local wallet when they are just new or i do remember when bitcoin is still $200 as far as i remember on where

they arent strict when it comes to incoming or outgoing transactions back in the past and when the trend becomes known and popular then there are sudden changes when it comes to limitations of money that
do credit out on users account.

pilosopotasyo

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Quote from: Distinctin on September 04, 2021, 02:15:26 AM

Therefore I'm suggesting everyone especially from the Filipino community who are constantly transacting from coins.ph to a gambling site/s or vice versa. The BSP is already monitoring us, and if we submit the information and put a gambling site as a recipient, we might be sanction as gambling is illegal in our country and it's part of the TOS of the coins.ph that sending coins to a gambling platform is prohibited.

you may refer to the complete terms of services of coins.ph.

https://site.coins.ph/user-agreement

I know how strict Coins.ph when you are sending Crypto but not when you are receiving, so I use Abra or peer to peer when sending Crypto to a gambling site, but I have done it only twice, Coins.ph is very strict and they very strict in where you are sending your coins even if it is a small amount, so it's better to limit your outgoing transaction than incoming.

mirakal

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Quote from: Shamm on September 12, 2021, 04:09:58 AM

This thread may help to others so that they will aslo aware regards the coins.ph problem so that they can avoid to use. But aside of this problem coins.ph are very strict on their rules regulations ,they will not accept any secondary ID and it's hard to verify the personal information but for me on this thing it was good because can secure our person information.

Coins.ph is regulated by the BSP or the Bangko Sentral ng Pilipinas, which means they only follow the rules that the BSP has imposed on them, if they will not follow, they will be charge fo the violation and they will not be able to continue their business, that's how simple, so it's not coins.ph that is strict, it's our regulation.

boyptc

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Quote from: Shamm on September 12, 2021, 04:09:58 AM

This thread may help to others so that they will aslo aware regards the coins.ph problem so that they can avoid to use. But aside of this problem coins.ph are very strict on their rules regulations ,they will not accept any secondary ID and it's hard to verify the personal information but for me on this thing it was good because can secure our person information.

About having a strict rule about accepting secondary IDs or not. It's no longer the thread topic is all about.

I think if they're not accepting your secondary ID then you have to find a way to at least get the requirement that they set or with primary IDs.

Shamm

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This thread may help to others so that they will aslo aware regards the coins.ph problem so that they can avoid to use. But aside of this problem coins.ph are very strict on their rules regulations ,they will not accept any secondary ID and it's hard to verify the personal information but for me on this thing it was good because can secure our person information.

suzanne5223

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Quote from: chaser15 on September 11, 2021, 11:10:36 AM

Quote from: Russlenat on September 11, 2021, 07:51:01 AM

This warning is very timely as the government of the Philippines is already starting to imposed stricter rules on crypto industry.

No choice but to follow. Coins.ph is just following regulations given to them by the BSP so others should not blame them if they feel not comfortable with these terms and regulations by the exchange.

We should really expect that while crypto is becoming popular in every country, stricter regulations will be imposed on any crypto-related companies. There are alternatives to transact safely with gambling sites and that's more important.

Better than being in a country where crypto and gambling are totally banned.

Apart from the BSP rules. All over the world, it is normal to see more restrictions and regulations of crypto exchange sites from the government during halving effect bullish market because there's always an increase in the number of cryptocurrency theft victims.
But still, exchange sites don't welcome sending and receiving transactions from gambling sites and OP is lucky her fund is not ceased.

agustina2

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Quote from: judeafante on September 11, 2021, 11:47:19 AM

Coins.ph is losing customers because of their strict rules but members failed to realize that it's the AMLA the money laundering council and BSP are the ones that laid down the rules and they just follow what on the rules because they are compliant, so it's better to monitor your transactions and follow what Coins.ph tells its members because it's still the number exchange in the country.

Any valid source that coins.ph is losing customers because of that terms?

I see no. That gambling term was been part of the coins.ph terms and regulations since it was started its operation. Because of hard regulations to any crypto companies establish in the Philippines, the terms about gambling become strict and users have to follow them.

BSP really sucks at some points like how can they ask coins.ph to ask their customers for a payslip as verification for income where that user has no job.

DoublerHunter

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Quote from: South Park on September 11, 2021, 02:09:04 PM

Then you need to stop using them, those businesses only understand one thing and that is people voting with their wallets, they want the best of both worlds they want to be popular with the community but at the same time they want to apply all those kind of measures the government wants when people are just exchanging their money to make a living, so move your business elsewhere if you can and never look back.

^ If this is the only way they can convert their crypto into fiat there is nothing they can do here is to obey the protocol. It is a centralized exchange, it is regulated by the government, and even most of them, they just only follow the protocol and rules made by the government. But that is right, it is very easy to bypass and there are alternative ways for this how-to avoid freezing your fund. Bitcoin mixers are always the best way to filter your BTC that comes from the gambling casino, take your own desison decision and it is very easy to adopt, don't be afraid of using BTC.

South Park

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Quote from: aioc on September 09, 2021, 06:51:17 PM

Quote from: khaled0111 on September 09, 2021, 06:46:04 PM

^^
Personally, I wouldn't recommend depositing directly from a mixer to an exchange. Unfortunately, some exchanges started flagging transactions from mixers as sispicious and I wouldn't be surprised if Coins.ph starts doing the same. Better be safe than sorry!
The question is why do you need to keep your coins in custody of that exchange? If it's to cash out in fiat, then only send the amount you want to cash out and keep the rest (the amount you want to gamble with) in your wallet.

Coins.ph keeps changing their rules and the status of their users you have to monitor all your transactions here my coins.ph is still pending because they are asking for a business license coming from SEC or the Mayor's office something that I cannot provide I'm just trading peer to peer or requesting my relatives to trade my coins to our local currency my other alternatives are PDAX and ABRA which is not strict compared to Coins.ph.

Then you need to stop using them, those businesses only understand one thing and that is people voting with their wallets, they want the best of both worlds they want to be popular with the community but at the same time they want to apply all those kind of measures the government wants when people are just exchanging their money to make a living, so move your business elsewhere if you can and never look back.

Pamadar

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Quote from: electronicash on September 11, 2021, 01:03:59 PM

Quote from: judeafante on September 11, 2021, 11:47:19 AM

Coins.ph is losing customers because of their strict rules but members failed to realize that it's the AMLA the money laundering council and BSP are the ones that laid down the rules and they just follow what on the rules because they are compliant, so it's better to monitor your transactions and follow what Coins.ph tells its members because it's still the number exchange in the country.

there is no but coins.ph for Filipinos. abra i think will also have the same rules too. i'm also cautious in using my coins.ph wallet that i have to send coins from casino going to an exchange before sending it to coins.ph that would be another costly transaction fee.

i wonder if anyone's account has been blocked and was unblocked after an explanation. let's say i explain to them i'm sending coins from a casino wallet but this is my fee from a signature campaign? Grin

It's been answered

Quote from: AicecreaME on September 06, 2021, 07:07:39 AM

I've already discussed it with coins.ph, if they have an exception (signature campaign) but a gambling based one, and the answer is they don't allow it.

From my understanding, there's no exemption according to this reply.

And it's always better to be on the safe side not using Coins.ph for your gambling activities. Using separate non custodial wallet to ensure your funds, it might hurt you a little because of the fees, but better than having those worries each time you send and withdraw your money from your chosen casino website.

electronicash

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Quote from: judeafante on September 11, 2021, 11:47:19 AM

Coins.ph is losing customers because of their strict rules but members failed to realize that it's the AMLA the money laundering council and BSP are the ones that laid down the rules and they just follow what on the rules because they are compliant, so it's better to monitor your transactions and follow what Coins.ph tells its members because it's still the number exchange in the country.

there is no but coins.ph for Filipinos. abra i think will also have the same rules too. i'm also cautious in using my coins.ph wallet that i have to send coins from casino going to an exchange before sending it to coins.ph that would be another costly transaction fee.

i wonder if anyone's account has been blocked and was unblocked after an explanation. let's say i explain to them i'm sending coins from a casino wallet but this is my fee from a signature campaign? Grin

Topic: [WARNING!] For gamblers using coins.ph - page 3. (Read 1223 times)