Send and receive from anywhere in the world using just your Universal Money Address (UMA)!
In this article you can learn how to use UMA for:
What is UMA?
Your Universal Money Address (UMA) acts like an email address for sending money (e.g. $Juan2646@coins.ph). It lets you send and receive funds instantly, 24/7, with anyone around the world using the Coins.ph wallet. UMA works through the Lightning Network, which enables fast and cheap transactions.
Send funds using UMA
You can now choose either to send through the Bitcoin Lightning Network using your peso or BTC funds!
with PHP
1. Log in to your Coins account. Then, head to your Portfolio tab. From the Portfolio tab, click Withdraw.
2. From the options, click Cash Out (Send PHP/ Withdraw money)
3. Scroll through the Cash Out options. For UMA transactions, go to the Lightning Network section below and pick Bitcoin (Lightning).
4. Provide the UMA address of your recipient, then click Next.
Note: The Next button will be available if the UMA address is valid. Kindly double- check your inputted address if errors are encountered.
5. Input the amount of your transfer. You can choose the currency your recipient will receive, but please note it would still be transferred with PHP or will be deducted from your peso balance. Kindly ensure you have enough PHP balance to proceed.
6. Kindly comply with the confirmations. Please ensure to double- check the details of your transaction.
6. Kindly input all the required verification codes under Security Check.
Once all required verification codes are provided, the Confirm button will turn black.
Note: If unable to receive codes, you may click the (?) button on the upper right corner, and check our Help Center article here for more help.
7. And you're done! Initial status of “Withdrawal pending” will be provided. A successful status once confirmations have been made will be provided shortly after.
with BTC
1. Log in to your Coins account. Then, click ‘Portfolio’.
2. Under Balances, tap on the Options next to your BTC wallet. Then choose "Send BTC."
3. Select the network. For UMA transactions, pick Bitcoin Lightning.
4. Provide the UMA address of your recipient, then click Next.
Note: The Next button will be available if the UMA address is valid. Kindly double- check your inputted address if errors are encountered.
5. Input the amount of your transfer. You can choose the currency your recipient will receive, but please note it would still be transferred with BTC or will be deducted from your BTC balance. Kindly ensure you have enough BTC balance to proceed.
6. Kindly comply with the confirmations. Please ensure to double- check the details of your transaction.
7. Kindly input all the required verification codes under Security Check.
Note: Once all required verification codes are provided, the Confirm button will turn blue. If unable to receive, you may click the Need help? button below, and check our Help Center article here for more help.
8. And you're done! Initial status of “Withdrawal pending” will be provided. A successful status once confirmations have been made will be provided shortly after.
To receive funds using UMA
On the Coins app
1. From the app, select the Portfolio tab located at the bottom menu section.
2. Click the Deposit button above, then select Receive Crypto.
Note: You may also access the Receive Crypto option from the Deposit button at the Home tab.
3. From the list of supported cryptocurrencies you can receive, click BTC.
4. Select the network. For UMAs transactions, pick Bitcoin Lightning.
5. Under the Lightning section, select Receive via UMA.
6. You can now view your UMA! Click Copy UMA below to copy your personal address, or Invitation Link to send to your friends so they can create their UMA as well.
You can also click Share to save your UMA or copy the link and send through the available platforms.
On the Coins website
1. Log in to your Coins account. Then, click ‘Portfolio’.
2. Under Balances, tap on the Options next to your BTC wallet. Then choose "Deposit BTC."
3. Select the network. For UMAs transactions, pick Bitcoin Lightning.
4. From here, you can now select Deposit via UMA.
5. You can now view your UMA! Click Copy UMA below to copy your personal address, or Copy Invitation Link to send to your friends so they can create their UMA as well.
If you have concerns or questions, you may contact us through the Coins app or Coins Support Form.