Coins.ph’s Major Upgrade Encounters User Issues

Editing by Nathaniel Cajuday

• Coins.ph is rolling out a major app upgrade, introducing new features and streamlined services. However, the upgrade faces user complaints on social media, particularly about OTP issues for transaction completion.
• The app upgrade includes new crypto deposit addresses, transaction history on request, reset 2FA settings, combined Coins.ph and Coins Pro balances, and updates to Coins Products & Services.
• In a message sent to BitPinas, Coins addressed the technical issues and the steps it is taking to ensure a smooth transition during the upgrade.
• Since Wei Zhou took the helm as CEO in March 2022, Coins.ph has significantly amplified its focus on cryptocurrencies and introduced a range of features designed to enhance and support its core crypto offerings.

Bangko Sentral ng Pilipinas (BSP)-licensed crypto exchange Coins.ph recently announced a major app upgrade, rolling out in batches since mid-April 2023. The overhaul introduced a range of new features, including a stronger focus on cryptocurrencies and streamlined services.

However, some users have taken to social media to complain about technical issues caused by the ongoing update, particularly problems with receiving OTPs to complete transactions.

In response to the technical issues related to OTP, Coins.ph sent the following message to BitPinas:

“We are actively working with our SMS providers on how to best fix the OTP issue quickly. In the meantime, we highly advise users to enable their 2-Factor Authentication (2FA) instead to continue using our services without the need of OTP. To learn how to activate your 2FA, click here — How do I enable two-factor authentication on my Coins.ph account? – Coins.ph Help Center”

To add, this OTP issue is solely due to an SMS provider concern and is not related to the recent app upgrade.

On the specific measures it is taking to ensure a smooth transition during the app and website upgrade, Coins.ph said:

“We ensure that the upgrades run smoothly before their launch through a series of tests. Upon launch, we actively monitor the upgrade closely to address any issues immediately.”

Coins.ph’s Facebook account asks its users to update the app to the latest version and retry by entering the email address they used to register with the app. Doing this will enable the user to receive the OTP via email.

App Upgrade Highlights

Updates mentioned in the article are accurate as of May 2, 2023, at 2:00 p.m.

According to a recent announcement from the Coins.ph team, the app upgrade includes several notable changes:

• New crypto deposit addresses.
• Transaction history will be available on request.
• Reset two-factor-authentication (2FA) settings.
• Combined Coins.ph and Coins Pro balances.
• Updates to Coins’ Products and Services.
• Bitcoin Cash (BCH) deposits will only be facilitated on the BSC network.
• Converting crypto to another crypto is not supported “until further notice”

The full breakdown of the changes can be found in this article on the Coins’ website.

Discontinuation of Some Services “Until Further Notice”

Coins.ph also listed some of its products and services that will be temporarily unavailable:

• Users can no longer buy mobile loads on the Coins’ website, although the option is still available in the app.
• Next, users will not be able to purchase international mobile load and game credits for the time being.
• Some services are temporarily suspended, including cashing in via Western Union and cashing out via Palawan Express and LBC.
• Additionally, users cannot redeem crypto vouchers or pay for travel and entertainment services for now.

Rollout of Upgrades to Continue

The app upgrade follows several significant changes under the leadership of former Binance Chief Financial Officer Wei Zhou, who took the reins as Coins.ph’s Chief Executive Officer in March 2022. 

Under Zhou, the company has expanded its offerings to 24 cryptocurrencies, up from just four coins in 2018. Additionally, Coins.ph has introduced “Coins Arcade,” allowing users to play games directly within the app. Coins also brought in major partners like Miss Universe Philippines and the Philippine Basketball Association (PBA).

Earlier this year, Coins, which has 16 million users, continued its foray into web3 and the metaverse via the launch of its VR Avatar Studio, which is open to other brands and influencers to create content.

Coins has also made public its intention to launch internationally, securing crypto licenses in Mauritius. At home, Coins has secured ‌ Advanced Electronic Payment and Financial Services licenses from the central bank for the Coins Pro trading platform.

The latest app redesign, implemented in March this year, has shifted the platform’s focus more towards cryptocurrencies; the homepage now prominently displays the user’s cryptocurrencies and balances. E-wallet services are still available but not prominently displayed.

Customer Support Response

Despite these improvements, the recent wave of user complaints highlights issues associated with a major app upgrade.

The Coins.ph Facebook page has been actively informing customers about updates regarding the upgrade. Users experiencing issues or requiring assistance are encouraged to contact the support team at help@coins.ph.

This article is published on BitPinas: Coins.ph’s Major Upgrade Encounters User Issues

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.