Coins.ph

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coins.ph
Founded2013

Coins.ph is a Bitcoin[1] exchange platform in the Philippines that believes Bitcoin is for everyone. Founded in 2013, coins.ph accept Bitcoin payments online, from anyone, anywhere- including who don't have access to credit cards or bank accounts. Webiste enable all Filipinos (including 95 million unbanked individuals) to easily and safely buy and sell Bitcoin. It takes as a mission to improve lives of millions through Bitcoin technology.

Coins.ph in the news

Date of publication News outlet Author Title/link Summary
5 March 2014
Tech in Asia
Phoebe Magdirila
Ron Hose: Bitcoin is great for all the 'unbanked' people in the Philippines
Ron Hose on Bitcoin as a solution to low banking and credit card penetration in the Philippines
19 March 2014
e27
<center>Terence Ng <center>Now you can use Bitcoins to shop at MetroDeal and CashCashPinoy <center>MetroDeal and CashCashPinoy to accept Bitcoin through coins.ph payment gateway
<center>20 March 2014
CoinDesk
Pete Rizzo
Bitcoin Payments Startup Coins.ph Launches with Two Major Filipino Merchants
MetroDeal and CashCashPinoy to accept Bitcoin through coins.ph payment gateway
20 March 2014
Yahoo! Finance (Singapore)
Phoebe Magdirila
2 Philippine daily deal sites to accept Bitcoin payments via Coins.ph
MetroDeal and CashCashPinoy announcement (via TechinAsia)
20 March 2014
CryptoCoinsNews
Drew Cordell
Coins.ph partners with MetroDeal and CashCashPinoy
MetroDeal and CashCashPinoy announcement
2 April 2014
Money & Tech
Perianne Boring
Ron Hose of Coins.ph @ CoinSummit (Video)
Ron Hose interviewed at CoinSummit
N/A
Smart DevNet Blog
Paul Pajo
Hackathon Report: The first Bitcoin Hackathon in Asia
Recap of the hackathon

Buy Bitcoin

Philippine Pesos (PHP)

The website offers different ways to pay the money in exchange of your received Bitcoins:

Cash deposit

  • BPI - Cash deposit in any BPI office (Bank of the Philippines Islands)
  • BDO - Cash deposit in any BDO office (Banco De Oro)
  • BPI Express Online - Transfer funds Online

Mobile money

  • Gcash - Cash transfer using mobile phone with a Globe number

Sell Bitcoin

Philippine Pesos (PHP)

Coins.ph offers differents ways to send the money:

Bank

  • BPI (No fee)
  • BPI Family (No fee)
  • BDO (No fee)
  • China Bank (No fee)
  • CITI Bank (No fee)
  • EastWest (No fee)
  • MayBank (No fee)
  • MetroBank (PHP 50)
  • Planters Bank (No fee)
  • PNB (No fee)
  • RCBC (No fee)
  • Standard Chartered (No fee)
  • Union Bank (No fee)

Cash pickup

  • Cebuana Lhuillier Pera Padala (PHP 30)
  • LBC Peso Padala (PHP 30)

Mobile money

  • Globe GCash (PHP 10)

Rate and fees

The rates are based on the current BTC/USD market rate.

SEA Market Snapshot

  • Population: 610 Million
  • GDP: 2.1 Trilion (equivalent to Russia)
  • Credit Card Penetration: under 5%

Low credit card penetration is cited as the number one obstacle to e-commerce growth is Asia. The majority of sales are completed COD (cash-on-delivery) or with OTC (over the counter) payments, both of which have high customer drop-off rates.

Founders

Ron Hose

Prior to coins.ph, Ron was a founding partner at Innovation Endeavors, an early stage venture capital fund backed by Eric Schmidt. Ron was also the co-founder of TokBox (acquired by Telefonica), a consumer video conferencing company. TokBox was backed by Sequoia Capital, Bain Capital, Stanford University and some of Silicon Valleys best-known angel investors. Ron holds a Bachelors and Masters degree from Cornell University, where he graduated at the top of his class. Ron is also an active investor and adviser to several Silicon Valley startups.

Runar Petursson

Runar has been building scalable production web applications for over 15 years. He has also built High Frequency Trading platforms, with extensive experience in high volume, low latency systems. He started trading Bitcoin in 2011 and looks forward to the day he can quit carrying cash around.

See Also

External Links

References

  1. https://bitcoin.org/en/