Coins Pro Trading Basics: What You Should Know Before Buying Cryptocurrencies

Published: September 29, 2020 | Updated: October 6, 2020 | Posted by: Venus Zoleta | Personal Finance


Coins Pro Trading Guide | Moneymax

Although only a minority of Filipinos currently invest in cryptocurrencies, there’s a strong interest in future investment. This is one of the findings of research[1] in 2019 commissioned by the Organization for Economic Cooperation and Development (OECD).

According to the OECD report, only 32% of Filipinos owned cryptocurrencies, but 53% expressed interest in making a cryptocurrency investment in the future. The top reasons for investing in cryptocurrencies in the Philippines include knowing more about digital currencies (40%) and making money quickly (36%).

If you’re among those interested in trading cryptocurrencies, you have several platforms to choose from. One of them is Coins Pro. What does this online trading platform have to offer and how is it used? Let’s find out.

What is Coins Pro?

coins pro trading guide - what is coins pro

Coins Pro, formerly Coins Exchange (CX), is a cryptocurrency trading platform where you can directly buy and sell digital currency. It’s the first digital currency exchange in the Philippines. The online trading platform also doubles as an e-wallet where you can store your digital currency.

Coins Pro[2] is operated by Coins.ph, a digital wallet service provider licensed (as a virtual currency exchange) and regulated by the Bangko Sentral ng Pilipinas.

Coins Pro Philippines Features

  • Enables trading of the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Ripple (XRP)
  • Comes with a dedicated wallet for each digital currency and another wallet for fiat currency (Philippine peso)
  • Online trading platform that allows placing of market, limit, or stop orders and with a price graph that shows price movements of each digital currency
  • Unlimited trading volumes, cash-in amounts, and balance
  • PHP 10 minimum cash-in amount
  • Cash-out limits ranging from PHP 250,000 monthly to PHP 500,000+ daily depending on the user’s verification level
  • No investment advice or brokerage service (All trades are executed automatically based on the customer’s order instructions.)

Coins.ph vs Coins Pro: What’s the Difference?

coins pro trading guide - coins.ph vs coins pro

Both Coins Pro and Coins.ph, run by the same company, are digital currency exchanges that allow users to buy, sell, and store the same types of cryptocurrency in the Philippines.

But that’s where the similarities end. Each digital currency exchange caters to different needs. To know which one is better for you, we have listed down the benefits of each.

Advantages of Coins.ph Over Coins Pro

  • Easier and simpler way to buy, sell, and store digital currencies
  • Cash-in and cash-out transactions are completed directly through one platform
  • More cash-in options
  • Accessible through Coins.ph app (Android and iOS) and website

Advantages of Coins Pro Over Coins.ph

  • Lower fees
  • Larger trading volumes

Coins.ph vs Coins Pro: Which Should I Use?

Coins.ph is ideal to use as a mobile wallet for sending money, paying bills, and other financial transactions. While you can earn money holding Bitcoin or another cryptocurrency in your Coins.ph wallet, the expensive conversion fees will reduce your investment’s value. It’s good for investment only if you intend to hold your digital currency in your e-wallet for a long time.

Coins Pro works better than Coins.ph as a trading platform. With Coins Pro, the cost of buying and selling cryptocurrency is cheaper. It also allows trading greater volumes. If you’re serious about investing in digital currencies, this trading platform will suit your needs better.

How Much is the Coins Pro Trading Fee?

Coins Pro fees range from 0.05% to 0.15% based on your monthly trading volume. The more you trade, the lower your fees. The amount is automatically deducted from your account.

Coins Pro Fees for Monthly Trading Volumes

Monthly Trading VolumesFees
15 million and above0.05%
10 to 15 million0.06%
8 to 10 million0.07%
6 to 8 million0.08%
4 to 6 million0.09%
2 to 4 million0.11%
1 to 2 million0.12%
500,000 to 1 million0.13%
250,000 to 500,0000.14%
250,000 and below0.15%

How to Register for a Coins Pro Account

coins pro trading guide - coins pro register

Filipinos 18 years old and above may open a Coins Pro account. Since the digital currency exchange is still in private beta version as of this writing, account registrations are not accepted yet.

In the meantime, you may join the waitlist on the Coins Pro website. Click the Join Waitlist button and fill out the online form. You’ll receive an email invite once you can already register in the platform.

Note that you can create only one account. Opening multiple accounts under one person is not allowed and will be closed or suspended.

How to Fund Your Coins Pro Account

To buy digital currency, you need to add funds to your account first. You can cash in from your Coins.ph wallet (through the Coins.ph app or website) or UnionBank account (through the UnionBank app or website). Cash-in transactions, regardless of the method you use, are free of charge.

How to Cash In via Coins.ph App

coins pro trading guide - coins pro cash in app

  1. Open the Coins.ph app and log in to your account.
  2. Tap the Pay Bills icon.
  3. Under “Exchange,” select the currency you want to cash in.
  4. Enter the amount to transfer to your account.
  5. Tap the Next button.
  6. Review your payment details.
  7. Slide to pay. The funds will be instantly credited to your Coins Pro account.

How to Cash In via Coins.ph Website

coins pro trading guide - coins pro cash in website

  1. Visit the Coins.ph website and log in to your account.
  2. Click the Pay Bills icon.
  3. On the Bill Type dropdown, select “Exchange.”
  4. On the Company Name dropdown, “Coins Pro” will appear. Select the currency you want to cash in.
  5. Enter the amount to transfer to your account.
  6. Click the Pay Bill button.
  7. Review your transaction details.
  8. Click the Pay button to confirm your cash-in transaction. Once it’s processed, you’ll receive an email and text notification.

How to Cash In via UnionBank

coins pro trading guide - coins pro cash in unionbank

  1. Log in to your Coins Pro account.
  2. On the left panel, click the Cash In button.
  3. Select “PHP” as the currency.
  4. Select your preferred cash-in method from UnionBank (Cash Deposit/Online Transfer).
  5. Enter the amount to cash in.
  6. Tick the boxes to agree to the Terms and Conditions.
  7. Click the Start Cash In button.
  8. Take note of the payment details on your screen. You’ll use them when making a deposit or an online bank transfer.
  9. Within 4 hours, go to the nearest UnionBank branch to deposit funds or use the UnionBank mobile app or website for the online banking transfer.
  10. Email a clear image of your cash deposit slip or online bank transfer confirmation to coinspro.support@coins.ph. The funds will be credited to your account within 24 hours.

How to Withdraw From Your Coins Pro Account

Convert the digital currency in your Coins Pro balance into cash by sending it to your Coins.ph wallet (real-time crediting) or bank account (same-day or next-day processing time).

How to Cash Out via Coins.ph Wallet

  1. Log in to your Coins Pro account.
  2. On the left panel, click the Cash Out button.
  3. Select the currency you want to cash out.
  4. Select “Coins.ph Wallet” as your cash out method.
  5. Enter the amount to cash out.
  6. Click the Transfer to Coins.ph button.
  7. Check your inbox for a confirmation email. Click on the link in the message to confirm your cash out request. This will redirect you to your Coins Pro dashboard where you’ll see a confirmation of your successful cash-out transaction.
  8. Withdraw your funds from your Coins.ph wallet through your preferred cash out method (e.g., bank transfer, GCash, LBC, Palawan Express Pera Padala, etc.). See the steps in our article, Coins.ph App: A Quick Guide to Using the Mobile Payment Platform

How to Cash Out via Bank Transfer

  1. Log in to your Coins Pro account.
  2. On the left panel, click the Cash Out button.
  3. Select “PHP” as the currency to cash out.
  4. Choose “Bank Account Transfer” as your cash out method.
  5. Select the bank where you’ll transfer the funds.
  6. Enter your bank account number, account name, and the amount to cash out.
  7. Tick the box to confirm that your bank account details are correct and complete.
  8. Click the Process Cash Out button.

Coins Pro Withdrawal Limits

Note that Coins Pro withdrawals have limits based on your verification level. See them below.

Verification LevelWithdrawal Limit
Level 1 (Email and mobile verification)No withdrawals
Level 2 (Email, mobile, ID, and selfie verification)PHP 250,000 per month
Level 3 (Email, mobile, ID, selfie, and address verification)*PHP 500,000 per day *PHP 15 million per month
CustomHigher than PHP 500,000 per day
Business verificationCustomized per client

How to Trade Cryptocurrencies in the Philippines Using Coins Pro

If you know how to trade stocks using online platforms like COL Financial, you’ll find it easy to use the Coins Pro platform for trading currencies as it works the same way. Here’s how to trade Bitcoin and other digital currencies on the platform.

How to Buy and Sell Digital Currency via Coins Pro

  1. Log in to your Coins Pro account.
  2. On the upper left corner, click on the dropdown menu to select the currency pair you wish to trade.
  3. Under “Order Entry,” select the order type you want to use (Market/Limit/Stop)[3].
  4. On the Order Quantity field, enter the amount you want to buy or sell.
  5. When placing a limit or stop order, set the price at which your order will be matched. No need to enter a price when placing a market order, as the price will be based on the current market price.
  6. Click the Place Order button. Market orders will always be instant while pending limit and stop orders will be displayed under “Open Orders” at the bottom of your dashboard.
  7. Click the Filled Orders tab to view your successful trades and the corresponding trading fee incurred per trade.

Read more: The Basics of Investing in Cryptocurrency

Final Thoughts

All the Coins Pro information shared here is for your general guidance only. You’re mainly responsible for doing your research and making your own investment decision based on that.

Remember that digital currencies are among the riskiest investments. Just as profits can get high, the risk of losing money is high. Before buying cryptocurrencies, read up a lot about them and seek advice from blockchain experts.

Enjoy no annual fees on your credit card!

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