Despite being a non-custodial wallet, Abra seems to be way behind CoinsPh (na isang custodial wallet) in terms of number of users and popularity.
Para sa mga hindi pa nakakaalam, basic difference ng dalawa:
Non-custodial: wallet users has the private keys and has complete control over their wallet and funds
Custodial: wallet providers has the private keys and has control over your funds
Hindi din nanghihingi ang Abra mismo ng KYC details unlike CoinsPH na kapag sumobra na sa minimum eh kailangan mo na magbigay ng karagdagang personal information.
Tignan natin mga posibleng rason kung bakit mas kilala ang CoinsPh among Pinoy crypto enthusiasts but let's take a look at the table below first:
| | CoinsPh | | Abra |
| ________________________________________________ | | _________________ | | ______________________________ |
| Wallet service | | custodial | | non-custodial |
| KYC verification | | Yes (tier 2 above) | | No |
| Native coins | | Btc, Eth, Xrp, Bch | | Btc, Eth, Ltc, Bch |
| No. of supported crypto | | 4 | | 31 |
| Can link to bank accounts? | | Yes | | Yes |
| Current no. of cash in outlets (other than banks/ATMs) | | 13+ | | 6 pawnshops (plus 7-eleven) |
| Current no. of cash out outlets (other than banks/ATMs) | | 7+ | | 6 pawnshops |
The table suggests na convenience ang dahilan kaya mas preferred pa din ng karamihan ang CoinsPh. Siguro pwede din natin isama yung superior marketing skills ng CoinsPh team at yung lack of knowledge ng iba pagdating sa security at privacy.
Quoting some of the users na nag-raise ng issue na 'to before:
Which is a very bad thing. Sigurado ako probably 80%-90%+ ng lahat ng bitcoin holders sa Pinas e coins.ph ang wallet, without knowing the risks pag hawak mo ang funds mo sa custodial wallet.
Unfortunately mukhang hindi ata ganun ka-uso ang research sa karamihan ng mga pinoy. Basta bili lang ng BTC tapos iniwan lang dun.
Maraming mga pinoy ang hindi gaano marunong pagdating sa technical, karamihan sa mga nagpamember sa coins.ph ay mga sumali sa MLM na investment scam, yung iba naman since may referral scheme si Coins.ph, nagregister at nagkainteres sa Bitcoin dun na bumili at dun na rin nagstock ng kanilang Bitcoin or Php. Hindi naman kasi lahat ng gumagamit kay coins.ph eh member ng bitcointalk.
Please note na wala ako pinapaboran o sinisiraan sa dalawa. Naisip ko lang na maganda din itong pag-usapan. Share your thoughts at kung may gusto kayo idagdag na wallet, i-comment lang.
For rates comparison, you can check
bitcoin buy prices | Coins.ph vs AbraFor limits comparison, you can check
Summary of cash in/out limits of BSP approved Virtual Currency ExchangesCash in guides:
[STEP BY STEP] Tutorial How to buy Bitcoin at 7-Eleven Stores in the Philippines by GreatArkansas
ABRA.COM add money at 7/11 stores NATIONWIDE by ice18
Just to add lang di hamak na mas convenient at palagay ang loob natin using coinsph sa kadahilanang habang tumatagal lalo nga dumadami ang connections ne coinsph, from bill ng kuryente , water, plans from postpaid and broadband, at the same time pa iyong sa Unionbank na pagmagpapasok ka ng pera to coins ph you will just need the acct na gegenerate ne coinsph then deretso ka na sa Unionbank and it will only take just wala pang 5mins pasok na ang pera mo, they will just ask nga pala for a parang reference number and your good to go na just an additional security pa iyong code from bank bago mo maipasok sa account
definitely mas okay si coins ph kaysa kay abra wala tayo magagawa okay lang nman na dalawa sila pero for security ang titignan then ill go with abra, i hope na magamit nyo din or matry unionbank to coinsph maganda sya