It is super easy to create an Ethereum wallet in Coins.ph.
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You just need to have a Coins.ph account and to pay 20 pesos.
Just follow this guide:
- In your main screen swipe it to the right side to see Ethereum wallet. Tap the send or receive icon and Ethereum wallet creation will appear.
- Once the create your ETH wallet screen appears, tap <slide to create>. Take note that you need to pay 20 pesos to proceed.
- After tapping <slide to create> you will see this Success screen meaning you successfully create your Ethereum wallet .
What are the benefits in activating your Ethereum wallet ?
- You can convert PHP to ETH and vice versa...
- You can send and receive ETH from other Coins.ph account or any external wallet .
- You can buy and sell Ethereum in your Coins.ph account.
Why do we need to pay 20 pesos?
To create your Ethereum wallet, Coins.ph needs to initiate
a smart contract, and this operation costs a small amount of ETH.
a smart contract, and this operation costs a small amount of ETH.
Simply put, a "smart contract" is a way of getting things done on the Ethereum network.
The best way to describe how it works is to compare it to vending machine. In order to enjoy the goods and services on the Ethereum network, you need to drop Ether into the vending machine, and it will provide the goods or services you requested.
The best way to describe how it works is to compare it to vending machine. In order to enjoy the goods and services on the Ethereum network, you need to drop Ether into the vending machine, and it will provide the goods or services you requested.
The 20 PHP fee for creating your Ethereum wallet is passed on to the Ethereum network. Coins.ph will not profit from these fees.
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Do you have your Coins.Ph account?
If none yet you can use my referral link below:
I’m giving you 50 PHP on Coins, the easiest way to pay and get
paid. Use code 'zxmn3a' to sign up now!
Details: https://coins.ph/invite/zxmn3a
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REFERENCES:
Retrieved April 18, 2018 from https://support.coins.ph/hc/en-us/articles/360000008862-Why-is-there-a-creation-fee-for-my-Ethereum-wallet-
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