Coins.ph Ethereum Wallet Product Test
Finally, I got approval from Coins.ph to "Become A Tester". Read my previous post if you haven't (do not vote because it is more than 7 days old already).
I followed the instructions received via e-mail. I logged in to my Google Play Store e-mail address (not my coins.ph e-mail address).
Updated Coins.ph android app and found the ETH wallet :)
How to Buy Ethereum (ETH) via Coins.ph
- If I have no Bitcoin nor Altcoin, I'd do THIS
- If I have Bitcoin available at Coins.ph, I'd do this - Convert BTC to PHP then PHP to ETH.
- If I have Bitcoin from external wallets i.e. WirexApp and/or #Coinpot, I'd Send BTC to PHP wallet (not BTC wallet) then CONVERT PHP to ETH.
- If I have Altcoins (Bitcoin Alternatives) at #Poloniex (my favorite exchange), I'd sell it to BTC then buy and withdraw DOGE (transfer to Coinpot to SAVE fee), convert Dogecoin to Bitcoin Core and send to PHP wallet (not BTC wallet) then CONVERT PHP to ETH.
I read that Verge is the best alternative to Dogecoin if you want to SAVE blockchain/transaction fee when transferring coins from/to exchanges but haven't used it.
Since I still have available BTC at Coins.ph, I used the PHP CONVERSION feature.
Just like here at Steemit, I won't send my SBD to BlockTrades to buy Steem though I know it would work too. I prefer to use INTERNAL "Currency Market" for SBD/STEEM or send SBD to BlockTrades to buy Steem Power (SP not STEEM). They are there for that purpose so why not use it for CONVENIENCE.
Let's continue with ETH Beta Testing.
After converting my BTC to PHP I then converted PHP to ETH.
I input P920 but only P20 was debited for creating my ETH wallet so I converted P900 again to try buying Steem Power (SP) with ETH.
P900 was debited from my PHP wallet but my ETH wallet was showing zero until I fall asleep. LOL! I checked my ETH wallet when I woke up and the money was already credited.
So, I went to BlockTrades.us to buy Steem Power (SP). Copied my deposit address and went back to my Coins.ph ETH wallet, clicked "Send", "paste" my @blocktrades receive address and "SEND".
SUCCESS!
I then tried selling 1 SBD to ETH via BlockTrades.us and Coins.ph.
SUCCESS!
I hope Coins.ph ETH wallet will become available in public soon! Will sell STEEM/SBD to ETH if I need IMMEDIATE CASH and to DOGE (convert via Coinpot) if I want to invest in Bitcoin (BTC), Bitcoin Cash (BCH), Dash, etc.
Why Ethereum (ETH)?
Transaction FEE is lower than Bitcoin (BTC) when sending FROM exchanges. See below screenshots from BlockTrades:
But, BTC transaction fee when sending FROM Coins.ph to external wallets is now lower than ETH. So, if you want to become an instant STEEM WHALE, just cash IN P400,000 and buy Steem Power (SP) with Bitcoin. LOL! No joke! I only used ETH to buy few SP because I am a "Beta Tester". (_)
How to turn Ethereum (ETH) into Cash?
Convert ETH to PHP and Cash Out. READ THIS.