Coins.ph has become a go-to platform for Filipinos looking to enter the world of cryptocurrency. With its user-friendly interface and wide range of financial services, it enables users to buy, sell, store crypto, pay bills, and even trade with leverage through its Crypto on Credit feature. Central to this advanced trading capability are two distinct wallets: the Spot Wallet and the Credit Wallet. Understanding how these wallets function—and how to move funds between them—is essential for maximizing your trading potential while managing risk effectively.
What Is the Spot Wallet?
The Spot Wallet serves as your primary account on Coins.ph. It's where all your initial funds—both Philippine Pesos (PHP) and cryptocurrencies—are stored. Whether you're purchasing crypto via Quick Buy, receiving digital assets from another wallet, or paying for mobile load, your Spot Wallet is the central hub for everyday transactions.
Key functions of the Spot Wallet include:
- Storing cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USDT, and more.
- Converting PHP to crypto instantly using built-in exchange tools.
- Sending and receiving funds to other Coins.ph users or external blockchain addresses.
- Paying bills and buying mobile load directly from your PHP balance.
- Engaging in spot trading, where you buy or sell crypto at current market prices.
Think of the Spot Wallet as your main checking account—it’s accessible, versatile, and ideal for both daily spending and basic investing.
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What Is the Credit Wallet?
The Credit Wallet is automatically created when you activate the Crypto on Credit feature. Unlike the Spot Wallet, this wallet is not meant for everyday use. Instead, it's specifically designed for leveraged trading, allowing you to borrow assets and increase your trading volume beyond your current holdings.
When you transfer funds into the Credit Wallet, those assets act as collateral for borrowed funds. This enables you to open larger positions and potentially amplify profits (though losses can also increase). The Credit Wallet supports:
- Borrowing crypto assets to trade with margin.
- Holding collateral transferred from your Spot Wallet.
- Advanced trading strategies, including limit orders and short selling (where available).
- Real-time risk monitoring, based on your collateral-to-debt ratio.
Because borrowed funds are involved, the Credit Wallet operates under stricter rules and risk controls compared to the Spot Wallet.
How to Transfer Funds Between Spot Wallet and Credit Wallet
Moving funds between wallets is a simple process, but it’s crucial for enabling credit trading. Here’s a step-by-step guide to transferring from your Spot Wallet to your Credit Wallet:
Step 1: Access Your Portfolio
Log in to your Coins.ph account via the website and navigate to the Portfolio tab on the left-hand menu.
Step 2: Open the Credit Section
Under your total balance summary, click on the Credit tab. This displays your current Credit Wallet balances and borrowing capacity.
Step 3: Initiate a Transfer
In the upper-right corner of the Credit Wallet section, click the Transfer button.
Step 4: Choose Direction and Amount
Use the toggle arrow between “From” and “To” fields to select whether you’re sending funds:
- From Spot Wallet → Credit Wallet (to add collateral)
- Or from Credit Wallet → Spot Wallet (to withdraw excess collateral)
Enter the amount you wish to transfer and confirm the transaction.
This transfer is instantaneous and does not incur fees. However, availability depends on your current risk status and loan obligations.
Key Considerations When Using Both Wallets
Before making transfers or initiating trades, keep these important points in mind:
- Collateral Locking: Some of your borrowed assets may be locked as collateral, limiting your ability to transfer funds freely.
- Max Transferable Amount: The exact amount you can move back to your Spot Wallet is shown under the Max transferable qty column in your Portfolio tab.
- Risk Rate Impact: Transferring funds affects your Risk Rate, calculated as:
Credit Wallet Assets ÷ Total Liabilities
A higher rate means lower risk; if it drops too low, you may face a margin call or automatic liquidation. - No Direct Withdrawals from Credit Wallet: You cannot withdraw borrowed funds directly. All withdrawals must first return to the Spot Wallet after repayment.
Managing these factors wisely ensures you maintain control over your exposure and avoid unexpected liquidations.
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Frequently Asked Questions (FAQ)
Q: Can I use my Credit Wallet for regular payments like bills or load?
No. The Credit Wallet is exclusively for trading with borrowed funds. You cannot use it to pay bills or purchase mobile load. All everyday transactions must be conducted through your Spot Wallet.
Q: Is there a fee for transferring between Spot and Credit Wallets?
No, transfers between the Spot Wallet and Credit Wallet are free of charge and processed instantly.
Q: What happens if my Risk Rate becomes too low?
If your Risk Rate falls below the required threshold, you may receive a margin call. If unaddressed, Coins.ph may automatically liquidate part of your position to repay borrowed assets and reduce risk.
Q: Can I transfer crypto directly from an external wallet to my Credit Wallet?
No. All deposits must first go to your Spot Wallet. From there, you can manually transfer eligible assets to your Credit Wallet as collateral.
Q: Are all cryptocurrencies eligible as collateral in the Credit Wallet?
Not all coins are accepted. Only select cryptocurrencies—such as BTC, ETH, and USDT—are eligible as collateral. Check Coins.ph’s official support page for the full list.
Q: How quickly can I move funds back to my Spot Wallet?
Once you’ve repaid any outstanding loans or freed up collateral, transfers back to the Spot Wallet are immediate, subject to system availability.
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By clearly distinguishing between the Spot Wallet and Credit Wallet, understanding their unique roles, and mastering fund transfers, users can make smarter decisions when engaging in leveraged crypto trading. Always assess your risk tolerance and stay informed about platform mechanics to trade responsibly and effectively.