Coins.ph, a Wallet vendor based in the Philippines, has launched a version of its wallet that supports BCH

Coins.ph, a Wallet vendor based in the Philippines, has launched a version of its wallet that supports BCH

Last month, Coins. Ph [/url], a Digital currency wallet provider in the Philippines, announced it would add support for BCH in June. Coingeek, a blockchain media site, spoke with the development team behind coins.ph wallet, which recently completed a change to include BCH’s money transfer option.

The following interview has been edited.

Coins.ph, a cryptocurrency wallet service in the Philippines, is one of a number of local blockchain technology companies that are seizing the opportunity to promote their own financial services with digital currencies as the shortage of traditional financial services and the need for unbanked accounts in some economically underdeveloped countries such as the Philippines becomes more apparent. Initially, they only supported Bitcoin in their wallets, but they recently added Bitcoin Cash (BCH) to ensure Filipinos can benefit from low transaction fees and fast money transfers.

In the Philippines, as a national-level economy, receipt and remittance services are absolutely vital, and while there are currently a number of transfer options for transactions in the country, the existing fees for financial services are not very friendly to some low-income groups. Bank transfers in the Philippines require a minimum fee of 30 Philippine pesos ($0.56) per 1,000 Pesos ($18.71), and for someone earning 15,000 pesos ($280) a month, the salary paid by the company can be withheld by financial institutions by $8.42, This is something many locals find hard to accept and have to accept.

Therefore, it is necessary for Filipinos to have an unregulated low fee transfer tool, which is what [url=] coins.ph [/url] does, and most of the small transactions on [URL =] coins.ph wallet [/url] are even free, so based on this, Coins. Ph wallet has more than 5 million users, about the same number as credit cards in the region.

[URL =]Coins. Ph [/url] originally supported only bitcoin as a digital currency. With the increase of bitcoin transfer fees and transfer duration, local people began to question the transfer tool, and the use of Coins decreased for a while. Option recently added BCH as an option for wallet transfers.

When asked why we chose BCH, wallet development team believes that BCH is a mainstream digital currency with a clear market demand and already has a passionate community of supporters in the Philippines. Most importantly, the BCH developer community focuses on how to reduce BCH transfer fees. Making BCH available for routine payments is a priority, which fits well with the company’s commitment to provide cheap and fast digital financial services to everyone in Southeast Asia.

In addition to adding BCH to the new version of the wallet, Coins.ph has launched a new digital currency exchange, currently in beta, which is the first digital currency exchange in the Philippine market. They plan to support [URL =]PHP[/ URL] (Philippine peso) and BTC, BCH, ETH, Transaction pairs between XRP and LTC.