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How is the Peso Wallet different from the Bitcoin Wallet?

You'll find your Peso Wallet balance on the lefthand side of the screen:

 

 

Bitcoin Wallet vs. the Peso Lock Wallet

Just like your Bitcoin Wallet, your Peso Lock Wallet:

  • also has a wallet address
  • also holds a balance
  • can also receive Bitcoin from any other wallet or platform

Click this icon to view your Peso Wallet address:

 

 

The primary difference is that all the Bitcoin you send to your Peso Lock Wallet are tied to a specific Peso value, using the current coins.ph sell rate. As long as you keep your Bitcoin in your coins.ph Peso Lock Wallet, you will be able to encash it for that amount.

 

What can the Peso Lock Wallet do for me?

If you regularly receive funds through Bitcoin -- for example, you are a freelancer or offshore employee receiving your professional fees/salary in Bitcoin, or your family member abroad is sending funds home to you in Bitcoin -- you can ask the sender to send to your Peso Lock Wallet address instead of to your Bitcoin Wallet address.

This way, you do not run the risk of having less cash due to fluctuations in the exchange rate. This will also remove the pressure on you to immediately cash out your funds. You now have the option of keeping it stored in your coins.ph account, and you can cash out only when you want to.

 

Fees

You can add or subtract funds to your Peso Lock Wallet using the "convert" button.

When converting from Bitcoin to PHP and vice versa, please be mindful of the conversion rate:

When you convert from your Bitcoin Wallet to your Peso Lock Wallet, our system uses the current sell price.

When you convert from your Peso Lock Wallet to your Bitcoin Wallet, our system uses the current buy price.

 

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