Coins.ph Reveals 54% Market Share in Monthly Active Users
Jen Bilango, the Country Manager of homegrown crypto exchange and e-wallet Coins.ph, explained why the firm is publicly sharing their platform’s metrics as well as liquidity and coin volume on crypto data aggregator CoinGecko.
Coins.ph CEO Wei Zhou delivered a talk on the Future of Blockchain in the Public Sector, in which he shared the platform’s metrics and data. Aside from this, the trading volume and other data of the platform are also accessible via CoinGecko. This was an unconventional move for the company, as other crypto companies do not typically share this information.
Coins.ph Metrics
During his presentation, Zhou disclosed that Coins.ph’s cumulative app downloads have reached 11 million, their KYCd (Know-Your-Customer) users are at 3.8 million, the platform’s peak monthly user count is around 4 million, and its market share by Monthly Active Users (MAU) is at 54%.
Furthermore, regarding the demographic makeup of the platform’s user base, the CEO disclosed that 51% of their users identify as female, while 49% identify as male. In terms of age distribution, 12% fall within the 16-25 age bracket, 42% are in the 26-35 range, 27% are aged 36-45, 11% are between 46 and 55, 5% belong to the 56-65 group, and 2% are 66 years or older.
In relation to geographical location, 21% of Coins.ph users are situated in Calabarzon, 20% reside in the National Capital Region (NCR), 17% are located in Visayas, 14% can be found in Luzon, 5% call Davao home, with the remaining 23% scattered throughout other regions of the country.
Further, the fiat and crypto Gross Transaction Value (GTV) of Coins.ph is 10 billion, while the fiat and crypto transaction amounts to 97 million.
In addition to Zhou’s presentation, Coins.ph has also granted public access to its liquidity through CoinGecko. As of writing, the trust rating of the exchange on the platform is 8.
Moreover, the data aggregator reports that the exchange’s trading volume for the last 24 hours was $1,078,620, with BTC/PHP being the most active trading pair with a 24-hour volume of $268,550.91.
Why Disclose This Data?
Jen Bilango, the Country Manager of homegrown crypto exchange and e-wallet Coins.ph, explained why the firm is publicly sharing their platform’s metrics as well as liquidity and coin volume on crypto data aggregator CoinGecko.
In an interview, Bilango stated that the company’s decision was an effort to “set an example” for other cryptocurrency companies.
“The mindset is really going global; volume is not that great but it is a step for us to the right direction. Slowly but surely, we will build that trading volume.”
Jen Bilango, PH Country Manager, Coins.ph
According to her, sharing the data publicly actually helps the platform. She also noted that Coins.ph is in fact an exchange with the largest coins listing–with more or less 56 tokens listed on its platform.
“That helps us bring in more tokens because when (traders and projects) visit CoinGecko, (they will see) the trust score is high, and they (would) want to penetrate the Philippine market.”
Jen Bilango, PH Country Manager, Coins.ph
Bilango explained that when investors and traders penetrate a market, the platform can expect more tokens listed on it.
“(For us) it just makes sense, it’s an industry standard and we want to set the tone, to set an example, to other players here.”
Jen Bilango, PH Country Manager, Coins.ph
Recent Coins.ph News
Last September 21, the firm inaugurated the new Coins.ph office. At the event, CEO Wei Zhou revealed that the company is in the process of obtaining crypto licenses in Australia, Latin America, and Europe as part of its global expansion plans.
In celebration of the FIBA Basketball World Cup in the Philippines, the firm, in partnership with Venly, gave its users a chance to purchase FIBA 2023 NFTS — the FIBA Memento NFT Collectibles — at an exclusive discount.
Last month, Coins.ph TradeDesk, an over-the-counter platform to trade cryptocurrencies started supporting multiple foreign currencies such as EUR, GBP, JPY, SGD, and AUD..
In July, the firm collaborated with the Cybercrime Investigation and Coordinating Center (CICC) to enhance their Know Your Customer (KYC) processes, aimed at preventing fraud on their platform.
This article is published on BitPinas: Coins.ph Reveals 54% Market Share in Monthly Active Users
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Is the data vetted? Seems off if you look at Maya and other players’ growing users pie against Coins