With crypto-trading becoming a norm in the modern market, traders are always looking for the best exchange opportunities. That is why there is a constant surge in the number of crypto trading platforms. However, while experienced traders opt for a diverse portfolio, most beginners start with Bitcoin trading.
|Supported Fiat Currencies||USD|
|Supported Countries||Philippine Islands|
|Transaction Fees||Ranges b/w (0.65% – 1%)|
|Withdrawal Fees||0.001 BTC|
|Customer Support||Email, Phone No, & Help Center Support|
But a lack of experience makes their choice even more challenging. It makes BTC exchange platforms like Coinage the ideal solution for them. The Philippine-based Bitcoin exchange offers a professional website with appealing features and a seamless experience. Creating an account on the website gives them access to superior features.
However, due to its exclusive nature, most traders go through Coinage Reviews to understand the nature of its services. Therefore, the following review will serve a similar purpose. It will help interested traders get an idea about Coinage and its features for a viable assessment.
What Is Coinage?
Coinage is a BTC exchange platform that was established in California. Launched in 2014, the company offers quality Philippines Peso to Bitcoin exchange services. Even with a registered address in California, the exchange caters to Filipinos and global traders. It claims to be the first enterprise-grade Bitcoin exchange based in the Philippines.
The trading exchange facilitates Bitcoin’s store of value purpose on its website. With features like minimal trading cost and a quick account creation process, it is the best PHP-BTC exchange on the web.
Coinage Quick Overview
- Established in 2014, California.
- First enterprise-grade Philippine-based Bitcoin exchange.
- Easy to create an account.
- Quickly verifies a registered account.
- Supports Philippine Pesos and BTC trading.
- Allows users to trade Bitcoin to Philippine Peso.
- 24/7 availability.
- Backed by BTC and money reserves to offer ample liquidity.
- Live order book is available on its website.
- Telephone and email customer support available.
- 2FA (Two-factor authentication) is supported.
- Offers similar services due to no account tiers.
- Minimal trading fees.
- Allows fund deposits from a bank account.
- Bank wire transfers are supported.
How Does Coinage Work?
Despite a lack of reviews, the website excels when it comes to performance. Furthermore, it eliminates the hassle of local mobile verification, offering a simple exchange service. To start trading, users need to go to the official website. Traders can quickly access everything in the top left corner.
After choosing the “trade” option, the reading window launches quickly. After filling in the desired amount to buy or sell, users can quickly facilitate the transaction. However, users face an issue when it comes to calculation. The website does not automatically calculate the buy and sell rate. That is what users need to input manually, increasing the transaction time.
Moreover, there is no option to copy the listed orders, which is common in exchanges nowadays. Once the order is placed, users can access it in the lower section of the website. It highlights information like total order in Philippine Peso, buy price, transaction date, and Bitcoin amount. While Coinage does not currently integrate the most advanced technology, it still performs well on key aspects. The best part about choosing the trading platform is its ability to hide user identity details when it comes to Bitcoin trading.
Is Coinage Regulated?
No, it is not a regulated crypto exchange. However, investors should note that most online exchanges don’t fall under any regulation. To compensate for the lack of a license, the website integrates functionalities like 2FA. Additionally, there have been no reports of major security breaches or attacks since its inception in 2014.
- Coinage claims to offer a platform for traders interested in Bitcoin trading. While its primary target region is the Philippines, the website aims to serve a global audience. Currently, the website provides quick Bitcoin trading solutions. Traders can easily buy and sell cryptocurrency using PHP. On the safety front, it comes with integrated two-factor authentication, adding a second layer of safety. It even offers multiple live charts like live trades, live bids, and live asks to check real-time prices.
- The option to add money from bank wire transfers adds to the platform’s usability. Its enterprise-grade software facilitates an automated and standardized experience throughout the platform. To ensure users make educated trading decisions, the exchange provides a live index to check real-time prices. The platform uses SSL technology to secure the transactions and user details from any compromise.
- The BTC exchange provides ample earning opportunities with minimal trading fees and optimal liquidity. Coinage plans to add an API-based mechanism alongside WebSockets to provide real-time notifications. Plus, the company will add a bug bounty program along with a public audit page to enhance its proceedings in the future.
Coinage Review: Pros and Cons
Most traders go through a Coinage review to assess its pros and cons. Thus, here is a quick overview of the benefits and drawbacks Coinage offers:-
|Easy to create an account.||Primarily focused on the Philippines.|
|No account verification tiers.||Unregulated and unlicensed.|
|Coinage supports 2FA.||Credit card payments are not supported.|
|Phone and e-mail support are available.||Only supports Philippine Peso as a fiat currency payment method.|
|Allows bank transfers with multi-bank compatibility.||Bank wire transfer fees are not specified.|
|Professional website with simple instructions.|
|Bank wire transfers are supported.|
Registration Process of Coinage
The majority of popular crypto exchanges offer a simple account creation process, and It also provides that. However, the company tops its competitors by removing the account verification tier system.
That way, traders are provided similar solutions regardless of their subscription. Here is a step-by-step guide to creating a Coinage account:-
- Go to the official Coinage site.
- Browse to the top-right section and locate “Sign Up.”
- Click on the “Sign Up” option.
- Now, a window like this will pop up.
- Start filling in information like name, email address, and password.
- Tap on “submit” to get to the next page.
- Wait until the loading screen processes the request.
- Open the specified email and complete the verification process.
- Start the process by launching the Coinage website.
- Locate the “Login” option on the top-right section.
- Tap on the “Login” tab.
- A new window will pop up on the screen.
- Fill in the email and password.
- Click on “Log in” to complete the process.
- To reset a password, select the “forgot your password” section. It will send a code to the registered email. After resetting the password, follow the specified steps to complete the process.
No exchange review can be complete without mentioning its fee structure. To Coinage’s benefit, the exchange excels as far as trading fees are concerned as it is the crypto exchange with lowest fees. The website imposes minimal fees to conduct seamless PHP-BTC exchange transactions. When it comes to PHP transactions, there is a 0.60% fee. Similarly, BTC-based transactions incur a fee of 0.60% as well. However, daily transaction volume can also decide the fees.
If users spend below 5,000 PHP, the fee is charged at 1% per transaction. For transactions between 5,000 and 12,000 Philippine Peso, the fee is charged at 0.75%. Finally, if the volume exceeds 12,000 Philippine Pesos, fees are charged at 0.65%.
There are no deposit fees on the platform, but it charges withdrawal fees from users. To withdraw Bitcoin, traders must pay withdrawal fees of 0.001 Bitcoin. There are wire transfer charges as well, but the specifics are not mentioned on the website.
Coinage Deposit and Withdrawal Methods
Many users opt to read reviews to comprehend the deposit and withdrawal methods supported by the exchange. On the deposit front, there are two popular options to opt from:-
- Over-the-counter bank
There are no hidden fees, whether users opt to deposit money through Bitcoin or banks. However, the website only supports Philippines banks since it primarily caters to the regional market. It allows bank transfers from two institutions, namely – BPI and the Land Bank of the Philippine Islands. To opt for the method, traders need to open the account page. Here, they can find the “Fund” option on the left side of the panel. They just need to tap on it to add a bank and deposit money directly from the banks.
- Bank wire transfers
If users choose the BTC withdrawal method, there is a minimal charge of 0.001 Bitcoins regardless of the amount withdrawn. For wire transfers, the transaction is facilitated quickly, but there are several complications. The website does not specify the charges for the method. Additionally, the supported banks are local, and users must have an account in the institutions to complete the transfer.
To use the method, customers must add a personal account bank first. Next, they need to select the “Withdraw” option on the account page and choose from the Land Bank of the Philippines, Union Bank, BPI, BDO, etc.
Coinage Supported Countries and Currencies
Targeting a specific region helps the exchange establish market prestige but hinders its performance as well. The website lacks when it comes to crypto coins availability and supported countries. That is why some Coinage reviews take away points from its usability. For example, the exchange is currently available in the Philippine Islands. Although its website mentions catering to a global consumer base, no specifics are shared about its global availability.
Similarly, its crypto coin availability is limited to Bitcoin only. While BTC is the most popular cryptocurrency in the market, merely focusing on one digital asset affects the trading platform’s popularity. Nonetheless, the website manages to outshine other exchanges on the PHP-BTC exchange front, making it a popular choice in the market.
How Safe Is Coinage?
Security is a major concern among crypto traders, making it a crucial factor for every trading platform. The trading platform pays due attention to that and integrates standards like SSL and 2FA.
It establishes strong key linkages to facilitate esteemed safety while maintaining its liquidity. It is not regulated or licensed by a centralized authority. However, It has managed to survive the crypto sector for 7+ years without any major breach.
Coinage Customer Support
Despite a lack of live chat support for traders, It is awesome at addressing user concerns comprehensively. Customers can reach the customer service executives on +1 347 620 5866. Additionally, its official site offers an email option on the “Contact” page and a help desk to solve the user’s queries or doubts. Given the platform’s target audience, the available options are suitable to assist the customers.
Coinage Review: Conclusion
Being a region-specific crypto exchange can be challenging for exchanges, but Coinage is awesome in its approach. It offers a simple, seamless, and secure ecosystem to trade Bitcoin using Philippine Pesos. Its bank and wire transfer compatibility allows traders to possess multiple deposit/withdrawal alternatives. Moreover, its 24/7 customer service is commendable too. Overall, the trading website manages to excel at what it aims to be; a simple PHP-BTC exchange.
Is Coinage Safe and Legit?
Yes, Coinage is a safe Bitcoin trading platform. It is not registered or licensed under a centralized authority, but it uses advanced security measures to fend off any threats.
Who Owns Coinage?
Coinage is a Philippines-based BTC exchange website operated and owned by Coinage Inc.