Introducing Coins.ph latest trading feature! Crypto on credit is a loan and trading product, which allows users to trade with borrowed credit. The product will expand your trading capital.
Getting Started with Crypto on Credit
What Requirements do I need to start credit trading?
- Complete your Enhanced Verification by submitting your proof of income through the Coins.ph app or web
- Read and Accept all Business Terms with BPC Lending
- Complete your short customer profile
How to Open Crypto on Credit
Steps to Start Credit Trading
- Login to your Coins.ph account via Web browser. Crypto on Credit is not yet available on the app.
- On the navigation bar on the left side of your screen, select and click Credit.
- Crypto on Credit is made possible through our partnership with BPC Lending Inc. Make sure to carefully read through all documents and fill in the tick boxes before you click "Sign Agreement".
- Once you have completed the Agreement, you will have to take a short customer profile.
- Once you have passed the quiz, you can start trading!
- Go through the tutorial to know how to use the Credit Trading services.
How to Use Credit Services
You can borrow assets to trade with higher volumes using the Credit services. Head over to the Credit tab and select which assets you want to borrow.
Start your first credit
When you first visit the Crypto on Credit service, you would start with an empty balance in your Credit Wallet. You would need to add some funds from your Spot Wallet to serve as collateral for any assets you want to borrow.
How to Borrow Assets
Step 1: Select borrow asset
Choose which asset you want to borrow from the drop-down menu. While only PHP and BTC are available at the moment, more options will be added soon.
Step 2: Input borrow amount
Input how much of the asset you want to borrow under “Borrow amount”. Note that there would be a minimum and maximum borrowing or credit amount.
Increase credit
If the maximum credit amount is not enough for your trade, you can click the “Increase
credit” button to adjust this amount.
Step 1: Select collateral asset
Choose which asset you want to transfer as collateral from your Spot wallet.
Currently, PHP and BTC are the available asset options for collateral.
Step 2: Input collateral amount
Under Amount, input how much of your collateral asset you want to transfer from Spot Wallet.
This shows the available balance of your chosen asset in your Spot Wallet.
Step 3: Add asset
In case you want to add more to your balance, you can click “Add asset” to cash in or deposit to your Spot Wallet first.
Credit Wallet Transaction History
The all new Crypto on Credit feature gives you a dedicated Credit Wallet to set apart the transactions you have on your Spot Wallet. Here's how you can see your Credit Wallet history:
- Head to the Portfolio tab on the left side.
- Select the Credit tab to see your Credit balance. From your credit wallet,you may initiate a Trade. Select the three dots beside your chosen asset and choose Trade. This immediately takes you to the Credit Trading page.
- Trade History will bring you to your historical credit trading activity.
You may also access your Order History from the Orders tab
- To see your Credit Balance, proceed to the Orders tab on the left side.
- Select the Credit tab to see your Credit balance.