Thanks for sharing this.
I think that a lot of people are still trying to use centrally controlled wallets to gamble which is definitely not a good policy to take whatsoever.
These people don't realize that like coins.ph, people can, have, and will get suspended and have their transactions tracked by a range of other crypto exchanges. This is including the well known Coinbase service if they affiliate or play on crypto casinos.
Topic: [WARNING!] For gamblers using coins.ph - page 9. (Read 1223 times)
Because of this issue, I always withdraw to personal wallet first then go to exchange.
this should be a good trick, I have experienced before. I took been a long time when withdrawing from gambling to exchanged, look like he does it manually and carefully to monitoring for detail transaction.I think this need to be moved on our local board to create more awareness there but it's relevant as well here, maybe make a new thread if this one isn't moved.
Yes, this thread should be in local because this is only specific for PH users. Coins.ph is the number one and most preferred local exchanger in the Philippines I don't know if they are really that good at tracking users with transactions on gambling sites since they have millions of members but I'm sure they have a team that does this in the Pilipinas section I read some members here getting their account restricted for a gambling transaction, but I doubt if they will go to court or put you in prison they will only restrict your account.
every gambling site has an address that should be easily detected by a transaction. as far I know, the address marks the name of the gambling site at the end.From this situation, the user must use a non-custodial wallet like electrum to transfer funds from a gambling site to exchange.
Funds are not confiscated. Only the account was suspended. That was based on the feedbacks before that I read on Facebook where funds are given a chance to withdraw.
But to be honest, there are no users yet that provide proof that their account got suspended due to gambling exactly. I think that was just a speculation of their users but in reality, there's another reason why accounts got in question like in 2017 example, where lots of coins.ph account questioned as earnings big bucks to ICOs are everywhere and coins.ph was mostly used exchanges because of lack of competition before.
If the government of the Philippines looked at the progress of Cryptocurrency in their territory he will just look at the financial performance of Coins.ph and since they have millions of users and millions of transactions they implement a full regulation into it, they are part of AMLA which is an anti-money laundering board in the Philippines, and they treat gambling as a possible gateway of money laundering.
I realize it's not worth it losing my account and funds due to my gambling habits.
Funds are not confiscated. Only the account was suspended. That was based on the feedbacks before that I read on Facebook where funds are given a chance to withdraw.
But to be honest, there are no users yet that provide proof that their account got suspended due to gambling exactly. I think that was just a speculation of their users but in reality, there's another reason why accounts got in question like in 2017 example, where lots of coins.ph account questioned as earnings big bucks to ICOs are everywhere and coins.ph was mostly used exchanges because of lack of competition before.
It's understandable, the Government is seemingly doing a crackdown towards cryptocurrency, specifically trying to identify how they'd actually put taxes into crypto transactions. Additionally, there's a lot of methods to bypass this imo, in using a mixer, a throwaway wallet, etc., and whatnot, it's just that coins doesn't want you to directly transact to gambling casinos, but rather use a medium instead to move the funds towards the wallet. Was rather confused as well initially when I needed to move some funds from my coins to Binance, it's basically KYC but with info regarding as to where you're going to send it.
I think this need to be moved on our local board to create more awareness there but it's relevant as well here, maybe make a new thread if this one isn't moved.
Yes, this thread should be in local because this is only specific for PH users.
It's been known already even before that using a custodial wallet for crypto-gambling is not recommended especially if there are terms about it.
Binance is the only top exchange I think that doesn't have any terms about gambling but use them with caution.
Coins.ph can be used by customer abroad. So this might be discussed here for foreign customer awareness. I have a friend in SG and Canada, They tell me that they are using coins.ph for payment with other foreign citizen out there.
Ref link: https://support.coins.ph/hc/en-us/articles/360000012161-Which-IDs-are-accepted-for-the-ID-verification-process-
I think 90% of citizens that use coins.ph outside the country as wallets don't use them for gambling. There are lots of wallets they can use with much more convenience in that country. Regardless, the point here is there should be an awareness in the local section.
If you did miss the post I have quoted, posting it also on local (or creating a thread there) will "create more awareness" specifically for PH gamblers as there's more chance that PH gamblers are just staying there. There are PH users that are not participating in any sections of the forums. They need more awareness as they used coins.ph more compare to people outside like your friends.
It's not about the question wherein customers abroad can use it or not or your friend can use it outside the country. I hope you get that.
I'm well aware on your quoted posted and I just want to point out that there's foreign user of that app too. Not here to argue but if you can bring a data supporting for your "90%" of foreign user is not using it for gambling purposes then this topic should be move.
You already mention this
Quote
It's been known already even before that using a custodial wallet for crypto-gambling is not recommended especially if there are terms about it.
So I think there's no harm if this topic was discussed here, Besides most the Filipino in PH section is well aware on this matter. It's for a general knowledge about this issue. Not gonna argue anymore and not replying on your future reply on my remark.
~ Gambling on foreign gambling sites that has no restrictions would be a better alternative
It doesn't matter if we're gambling on platforms with strict or no restrictions because the prohibition is on the app. It's stated in their TOS that you can't use it for gambling/betting. FYI, coins.ph is a custodial platform that's licensed and monitored by our Central bank. 
I've tried depositing Bitcoins to a gambling website when I'm still gambling but only a few times and I didn't receive any warnings about it.
Maybe this is just new addition to the coins.ph TOS.
it's not new, it's been around for years now. I'd say you're just lucky that they didn't detect what you did. I've done the same thing in the past but after finding out about their prohibition of sending funds to gambling sites I stopped immediately. I realize it's not worth it losing my account and funds due to my gambling habits.Maybe this is just new addition to the coins.ph TOS.
Either way, being detected can be avoidable in some ways. One reason maybe is to put first the coins into an exchange like Binance first and then from there, transfer it to the gambling website. It might take some time and transaction fees but it would be better than account getting locked. Another one is to not use coins.ph at all if you don't want to get caught.
yeah, this is what everyone(I think. since I do it too) is doing when they are using coins.ph That's clear for us here, regulations in coins.ph was really emphasizing a strict rules against gambling, because of an issue of legality.
However, the accusations should be supported with strong evidence if being suspected. For those traders with involvement with illegal gambling activities, better stop or else you'll face charges against them or possible sanctions.
Coins.ph is the number one and most preferred local exchanger in the Philippines I don't know if they are really that good at tracking users with transactions on gambling sites since they have millions of members but I'm sure they have a team that does this in the Pilipinas section I read some members here getting their account restricted for a gambling transaction, but I doubt if they will go to court or put you in prison they will only restrict your account.
Just to correct, "gambling is not illegal in PH". There are just gambling types that are prohibited especially the unregulated ones.
And the terms about gambling on coins.ph is not new. It was part of the original terms since then.
I don't have a problem sending funds from coins.ph to a gambling site. I did that several times. But since there's a new implementation like on that screenshot provided by OP, I will now refrain from doing it lol. Still not test yet that new sending feature as I rarely use my coins.ph now for doing transactions to a gambling site. But for receiving funds from the gambling sites, I do it regularly.
If you're a coins.ph user and read their terms and condition, it is clearly stated that they prohibits using their platform in any gambling activity. I know this for few years now and because I dont want my account to get compromise, I abide to their rules. Im using other wallets to deposit/withdraw on gambling sites where I want to play.
Dont use coins.ph wallet on your gambling activities if you dont want to face problem later on.
Dont use coins.ph wallet on your gambling activities if you dont want to face problem later on.
I think this need to be moved on our local board to create more awareness there but it's relevant as well here, maybe make a new thread if this one isn't moved.
Yes, this thread should be in local because this is only specific for PH users.
It's been known already even before that using a custodial wallet for crypto-gambling is not recommended especially if there are terms about it.
Binance is the only top exchange I think that doesn't have any terms about gambling but use them with caution.
Coins.ph can be used by customer abroad. So this might be discussed here for foreign customer awareness. I have a friend in SG and Canada, They tell me that they are using coins.ph for payment with other foreign citizen out there.
Ref link: https://support.coins.ph/hc/en-us/articles/360000012161-Which-IDs-are-accepted-for-the-ID-verification-process-
I think 90% of citizens that use coins.ph outside the country as wallets don't use them for gambling. There are lots of wallets they can use with much more convenience in that country. Regardless, the point here is there should be an awareness in the local section.
If you did miss the post I have quoted, posting it also on local (or creating a thread there) will "create more awareness" specifically for PH gamblers as there's more chance that PH gamblers are just staying there. There are PH users that are not participating in any sections of the forums. They need more awareness as they used coins.ph more compare to people outside like your friends.
It's not about the question wherein customers abroad can use it or not or your friend can use it outside the country. I hope you get that.
I tried to send XRP to one of the gambling sites I'm using, but I was prompted with this message.
~snip~
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
~snip~
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
Quote
Prohibited Uses include transactions or activities related to:
(c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;
(c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;
That's clear for us here, regulations in coins.ph was really emphasizing a strict rules against gambling, because of an issue of legality.
However, the accusations should be supported with strong evidence if being suspected. For those traders with involvement with illegal gambling activities, better stop or else you'll face charges against them or possible sanctions.
I think this need to be moved on our local board to create more awareness there but it's relevant as well here, maybe make a new thread if this one isn't moved.
Yes, this thread should be in local because this is only specific for PH users.
It's been known already even before that using a custodial wallet for crypto-gambling is not recommended especially if there are terms about it.
Binance is the only top exchange I think that doesn't have any terms about gambling but use them with caution.
Coins.ph can be used by customer abroad. So this might be discussed here for foreign customer awareness. I have a friend in SG and Canada, They tell me that they are using coins.ph for payment with other foreign citizen out there.
Ref link: https://support.coins.ph/hc/en-us/articles/360000012161-Which-IDs-are-accepted-for-the-ID-verification-process-
I think this need to be moved on our local board to create more awareness there but it's relevant as well here, maybe make a new thread if this one isn't moved.
Yes, this thread should be in local because this is only specific for PH users.
It's been known already even before that using a custodial wallet for crypto-gambling is not recommended especially if there are terms about it.
Binance is the only top exchange I think that doesn't have any terms about gambling but use them with caution.
I also got the same shit hapen like this on my "Local" exchange.
I withdraw "XRP" from Stake to Tokocrypto (Indonesia Exchange), the weird thing every low amount transaction is credited but while I withdraw more than 1,000 XRP the balance is not credited. I contacted them, they said the balance transaction is came from gambling activity and they can't accept that. The lucky things, I can request the refund address because the sender & my deposit stake XRP is different.
Because of this issue, I always withdraw to personal wallet first then go to exchange.
I withdraw "XRP" from Stake to Tokocrypto (Indonesia Exchange), the weird thing every low amount transaction is credited but while I withdraw more than 1,000 XRP the balance is not credited. I contacted them, they said the balance transaction is came from gambling activity and they can't accept that. The lucky things, I can request the refund address because the sender & my deposit stake XRP is different.
Because of this issue, I always withdraw to personal wallet first then go to exchange.
Some users directly send their coins to save on transaction fees as there are networks whose tx fees are insane.
It is the exact of why users are sending directly with these regulated wallets by the government. But they will be hit hard if they keep doing it and they have to be compliant with what the exchange wallet starts to implement strongly.Some gamblers might not worry about the fee and just do the other way of sending/depositing to the casinos as they have no choice anymore.
Thanks for the warning.
Coins.ph is one of the biggest wallets/exchanges and just goes to show how dangerous all hosted wallets can be.
Use something like Electrum, it's just as easy to use but you retain all ownership of the private keys. Much safer and you won't be subject to the scrutiny and prying eyes of the government when it comes to your gambling pastime.
We cant really deny the usefulness of local wallet providers and this is why it isnt surprising that there are really users who do really use up this platform and considering on how many Pinoys are in cryptoCoins.ph is one of the biggest wallets/exchanges and just goes to show how dangerous all hosted wallets can be.
Use something like Electrum, it's just as easy to use but you retain all ownership of the private keys. Much safer and you won't be subject to the scrutiny and prying eyes of the government when it comes to your gambling pastime.
and they are the only local wallet provider then they are really that big and trustable enough.
Speaking of the issue then it would be better if you wont be sending out directly to a gambling site but rather go to transfer in non custodial wallets and then make out some transfer again.
Fees isnt an issue, weve been staying for 1sat/byte for a while now which it isnt really a problem if you do talk about fees.
Quote
Prohibited Uses include transactions or activities related to:
(c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;
(c) Gambling: Online gambling, lotteries, casinos and informal gambling, gaming operations, sports betting, and other games of chance and forms of speculation;
Coins.ph is heavily regulated then its just normal that they would really be following those rules and regulations too by the government if they dont like any possible problems or violations just because they
had let their users do get involved with gambling but as far as i know that gambling isnt really that banned in Philippines which do really make out some questions in mind.
They are not banned but they don't want their exchange associated with activities where it involves addiction and we all know that players are prone to addiction to gaming and gambling, yes they become very strict and they restrict so many of their users since they become the number one Cryptocurrency exchange in the Philippines, it's almost impossible to get into level 4 of your account they even ask for Central government bank certificate so my advice is to limit transacting and use other exchange
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.
Is gambling illegal in Filipinos? I thought it was legal in there LOL. If coins.ph doesn’t allow payments to gambling sites, you have lot of alternatives. Just move the fund to non custodial wallet (coins.ph is a custodial one, right) and it will not have any direct connection. Apart from that, I don’t see any reason why anyone would be using a centralize custodial wallet for having their private activities.Gambling in the Philippines is not illegal only some gambling platforms don't pay taxes to the government thus they became illegal. Coins.ph AFAIK is a custodial wallet and the reason why they are not allowing users to send money via their platform to online bookies is to protect their business from money launderers and besides some of the online crypto bookies are illegal and they don't want their name to be engaged to them.
Some users directly send their coins to save on transaction fees as there are networks whose tx fees are insane.
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