As added security to your Coins.ph account, it’s great to move your funds to another wallet before sending it to your recipient. While you cannot have multiple Coins.ph accounts, you may still transfer your funds to another Bitcoin wallet through a wallet-to-wallet transfer, and then send it from there. There’s virtually no limit to how many wallet addresses you can have from other wallet providers. This way, in case the security of one of them gets breached, your losses will be kept to a minimum.
You can start with at least three wallets:
- a "public" wallet address for receiving Bitcoin (what you give to someone sending you Bitcoin)
- another public wallet address for sending Bitcoin (from where you transfer out Bitcoin to another person's wallet)
- one "secret" address for keeping your savings--create new savings wallets as the amount of Bitcoin you own increases (this could be your own Coins.ph account)
Transactions on Coins.ph platform are non-reversible, just like a cash transaction. We will not be able to revert the payment and return your funds since it works like virtual cash. Hence, we urge you to use extreme caution when sending money.
Here are a few valuable tips to keep your Coins.ph account safe:
- Verify the intended recipient of your payment. Make sure you have entered the correct details.
- Check the payment amount. Make sure you have entered the correct amount of funds before sending.
- Refrain from sending money to people you do not know: Sending money via Coins.ph works in the same way as a cash payment. Would you hand in cash to a stranger without checking?We advise you to take steps in establishing the recipient’s identity and urge you to carry out your own due diligence in making sure you do not fall victim of fraud.
- Be alert to investment schemes: Be careful when sending funds to persons or companies who have promised quick or guaranteed returns to investments. We do not endorse or are affiliated with such activities or products in any way. To find out more please read What can I do to avoid Investment schemes and other online scams?
- When paying for a product or service, make sure merchants are duly registered. In case of a dispute, Coins.ph would not be able to reverse your payment and refund your account.
Coins.ph is devoted to accelerating financial inclusion. We use the technology of digital currency to facilitate people’s needs in making money transfers. To facilitate this, we enforce strict KYC policies and observe AML regulations. To learn more about keeping your account secure please visit the Safety and Security Section at our Help Center.
For more tips on keeping your Bitcoin wallet secure, we highly suggest reading this CoinDesk article on security tips for beginners.
If you have any questions, do not hesitate to contact us at [email protected].