If you don’t have an account yet, register now for free. If you have registered for an account, please follow the instructions on their setup page on how you can verify your identity to maximize the usage of your wallet (unverified accounts are fine but it does have some limitations). You’ll get a reward of 50 PHP once you’ve completed the account verification, which is really cool. 🙂 To learn more about coins.ph check out my previous post.
Some of my readers are interested in investing with bitcoins but they don’t know how to start. So I will link other related posts to make everything clear for everyone. In this post, I’ll be showing you guys a step by step procedure on how to fund your coins.ph account.
So before I give all the steps, I’d like to inform you that I used BPI online to fund my account. There are other payment methods as well that can be more accessible for you. If you also prefer using BPI to make sure that you enable your mobile banking and the ability to do a fund transfer to anyone. Also, the images attached here are captured from the web version of coins.ph and mobile app of BPI. Okay, let’s start!
After acquiring an account from coins.ph, just log in to their site, then go to the cash-in page and choose your preferred payment method.
Here are the available payment methods:
In this case, I’ll be using BPI online bank transfer:
Then just click the “Next Step” button.
Next step leads you to a page that asks the amount that you wanted to transfer and to what wallet, you would like to have the funds (either to peso wallet or directly to bitcoin wallet). It has a minimal fee, funding directly to bitcoin wallet has a lower fee, but I prefer funding the peso wallet so I can decide when to convert it to bitcoins.
Just click the “Next step” button again, very simple right?
After doing so, it will show you the pending transaction like this:
As stated there above, check your email for the instructions. In the email that you’ll get it has a detailed instruction on how to complete the payment. DragonPay’s Step one is really important, so read it clearly. It asks you to pay the EXACT AMOUNT, no rounding off. 🙂 BTW, Do not close the instructions page so you don’t have to go back to your email every time. You can refresh the page anytime if you need to.
Then open the BPI Mobile Banking App, log in, make sure your account is enabled for a fund transfer to anyone. Go to Transfer page and do the following below:
Always enter the details provided by dragonpay. Wait for at least 3 minutes, then go back to the instructions page, then follow step 2. Step 2 only gives you a link to verify your payment, it’ll ask you to enter your name, date, and time of the transaction. Their system verifies transactions using this info plus the amount that you have transferred, that is the reason why they want you to enter the exact amount to pay.
After entering the necessary info just click “Validate”, it will tell you if they successfully validated. If not, try to wait for a few more minutes and refresh the page. If it took you any longer, contact DragonPay. You can also double-check with your coins.ph account if it is completed.
When it’s validated completely you should be able to see these pages from the instructions page and from coins .ph. You may also receive a text message if your mobile number is connected with coins.ph. They say that the processing time of funding using BPI online transfer can take 24 hours, but this sample cash-in I did was able to fund my account instantly after validating the payment.
There are other payment methods that are very easy to use just like cashing in thru 7eleven. Almost the same thing it will ask you the amount, then they’ll send you a reference code or barcode to present at any 7eleven branch then after paying, your account will instantly be funded. You can try any payment method you prefer. Once you have funds you can start investing. There are also other things that you can do with coins.ph, like buying prepaid load and paying bills with rebates and you, can use it for personal purposes or much better run a small business with it.
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Late Update: 01/20/2019
Coins.ph now have transaction fees for all cash-in transactions which made me switch with GCash Wallet. However, all my cryptocurrency transactions still go to coins.ph.
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