As we all know,
coins.ph is one of the most trusted bitcoin exchange in the Philippines, and they've remained at the top since 2014. However, after 4 years of doing business with them, they decided to ban my account fully due to some connections with 'fraudulent activity' on my account. I've skimmed on all the transactions I have on that wallet since 2014, and I haven't seen something suspicious, though there are some transactions that came from an online betting platform from 2015 which, according to a circular from the central bank issued @ 2018, is illegal since online betting was banned in the Philippines. Knowing that there really isn't a clear definition of what 'bitcoin' is in the Philippines, why would the platform immediately ban the account?
Has anyone experienced the same thing? Their customer support's replies were bland, and no further information were given as to why they disabled the account, but I'm inclined to think it's because of those transactions I have with an online betting site which served as a payment for some brief works. Just a heads up to people out there who use the said platform,
never try to withdraw bitcoins on gambling sites directly to your coins.ph account.
I am one of coins.ph loyal user since 2017. All of my bitcoins transactions can be found in here. It also become my secondary bank account not only for peso but also for bitcoin and later on Eth. I used to send money and buy loads in here. So far there is nothing bad in my experience in using coinsph. But if this is true, I must be careful now. What my Coins.ph containing is everything for me.