In the internet, it is very easy to fall for “get rich quick” investment schemes or get scammed into buying non-existent products after you have already sent your payment.
The Bangko Sentral ng Pilipinas or BSP has recently issued Frequently Asked Questions (FAQs) on Virtual Currencies, advising the public not to blindly follow the crowd, adopt herd mentality, or engage in speculative transactions. They also advised prospective Virtual Currency or VC investors to know and fully understand VCs and cryptocurrencies before speculating or investing in such products as price volatility may cause VC holders to incur significant losses.
In support of this view, Coins.ph does not endorse or is affiliated in any way with such activities or products. Hence, we advise our customers to exercise caution when making payments to individuals or companies who promise quick or guaranteed returns to investments or donations to charities, particularly companies and individuals who are not government-licensed.
Please be very careful as Coins.ph transactions cannot be reversed. Users bear the full responsibility of sending funds to another wallet address so we urge you to be extra diligent in researching the identity of the recipient of your funds.
The Blockchain technology has almost limitless potential to improve society, but there will always be people who will take advantage of technology for personal ends. At Coins.ph, our mission is to accelerate financial inclusion and ease money transfers through digital currency, and it is founded on a strong commitment to secure transactions and strict observance of KYC and AML regulations.
We have a zero tolerance policy on fraud and scamming practices. Our User Agreement expressly prohibits the use of Coins.ph with the intention of defrauding Coins.ph or its users. Account holders found in violation of our User Agreement will be investigated by Coins.ph and suspended from the platform.
Should you have any complaints or would like to report a potential fraud, please get in touch with us at [email protected] immediately.