Local fiat and crypto wallet services provider Coins.ph, has partnered with Globe Telecom Inc. to offer cryptos in exchange for reward points in the telco's loyalty program (Globe Rewards).
Users can redeem reward points and complete a crypto transaction without using their own money, a set-up ideal for crypto natives and newcomers alike.
"Customers can now take advantage of mainstream loyalty programs, such as Globe Rewards, for a low- or almost zero-risk approach to get started with their crypto journey," says Wei Zhou, CEO of Coins.ph.
Starting Wednesday, July 20, prepaid and postpaid subscribers can start exchanging rewards points in their new GlobeOne app for Bitcoin and cryptocurrency vouchers redeemable at Coins.ph.
“We’re introducing a new feature in the Coins.ph app called ‘Redeem Crypto’," he noted.
"At the same time, we’re also opening opportunities for businesses to diversify their loyalty program offerings to remain competitive and maximize their potential for growth,” Zhou added.
Coins.ph currently has over 16 million users enjoying access to digital financial services such as e-wallet services, payments, and cryptocurrency trading.
To start redeeming crypto vouchers, users must first login or register in the new GlobeOne app downloadable in the App Store, Google Play Store, or AppGallery.
Tap on the Rewards menu and select among the Coins.ph cryptocurrency vouchers offered.
The available denominations are P5, P10, P25, P50, and P100, each with a corresponding number of points required for redemption.
After confirming redemption details, login or register in the Coins.ph app or website https://coins.ph.
Coins.ph users must be Level 2 verified to redeem.
Tap or click on “Redeem Crypto” under “All Services” and enter the voucher code provided by Globe Rewards.
Choose the desired cryptocurrency to be exchanged for the peso value of the voucher.
As of this writing, Coins.ph gives access to a total of 24 cryptocurrencies and crypto tokens, including BTC (Bitcoin), ETH (Ether), BCH (Bitcoin Cash), BAT (Basic Attention Token), XRP (Ripple), USDC (USD Coin), USDT (Tether), AAVE, AXS (Axie Infinity Shard), CHZ (Chiliz), GALA, KNC (Kyber Network Crystal v2), LINK (Chainlink), MATIC (Polygon), MKR (Maker), SAND (The Sandbox), SLP (Smooth Love Potion), UNI (Uniswap), and YGG (Yield Guild Games).
“Besides helping our customers navigate the world as it opens up again, Globe understands that Filipinos continue to use more digital solutions in their daily lives," according to Jerome Patalud, Globe Rewards Head.
"Now with Globe Rewards, they can start their crypto journey by redeeming rewards points for Coins.ph vouchers on the New GlobeOne app.:
However, "If Globe users opt to explore other investment opportunities on top of maximizing their rewards, they should do their due diligence on the rules and regulations around the emerging digital asset market conditions,” he warned.
Cryptocurrency values are highly volatile and prices may go up and down in real time.
Buying Bitcoin and other cryptocurrencies carries a high level of risk and may not be suitable for everyone.
To help manage this risk, Coins.ph extended the validity of voucher codes obtained via Globe Rewards until July 15, 2023.
This way, users can redeem anytime and anywhere they want. Terms and conditions apply.