Need Help?

During this Early Access period, please expect the unexpected. But if the unexpected is just WAY too unexpected, please let us know! You can talk to us directly through our Facebook page, Telegram group, or just @ us on Twitter.

Or! You can browse through these common questions about the app:

  1. What's BloomX?

    BloomX is a crypto trading platform built for Filipino residents. You can buy and sell 250 cryptocurrencies with Philippine pesos (PHP). Users can also withdraw their pesos into any major bank account or eWallet in the Philippines instantly. Our exchange technology is provided by Binance.

  2. How do I trade?

    On the Exchange page, you can buy or sell 250 cryptocurrencies using PHP or USDT. Select the cryptocurrency of your choice from the drop down menu, and you’ll see the updated rates on the page.

    Click the BUY or SELL button when you’re ready to execute the trade.

    Alternatively, you may head to the Explore page to search for the cryptocurrency of your choice.

  3. How do you keep my crypto safe?

    BloomX is built with Binance, the world's leading cryptocurrency exchange, and all our customers' cryptocurrency accounts are stored in their ultra-secure custodial solution. You can read about the 7 ways that Binance keeps their customers' funds SAFU here.

  4. What happens if the site goes down while I'm in the middle of a trade?

    BloomX will always announce its maintenance periods well in advance, but if you're ever caught by an unexpected outage, rest assured that we will immediately investigate any trades that were pending when the downtime began. In some cases, it's possible that the trade was fully executed and our systems just didn't update fast enough to reflect your new balances. A representative of BloomX will get in touch with you to clarify the situation if this is not what happened.

  5. Why do BloomX's prices look more expensive than Binance?

    Because BloomX is built on top of Binance's exchange infrastructure, many people expect a trading fee of 0.10% when buying or selling on BloomX, because this is what they're used to on Binance.

    Bloom allows its customers to buy the altcoin that they want directly with pesos, something that is not possible on Binance. For example, let's say you wanted to buy SLP and you had 5,000 pesos in your GCash.

    Without BloomX, your first step would probably be to buy ETH through the P2P marketplaces. You'd have to find a seller that has enough ETH, and accepts GCash as a mode of payment. Those sellers charge anywhere from 0.5% to 1.5% depending on market conditions.

    Then you would need to transfer those tokens to your Binance account. If the seller isn't also a Binance user, you would need to pay gas fees for this. Finally, once your funds are on Binance, you could use them to buy SLP, and you would then get charged the 0.1% trading fee.

    Also don't forget that the SLP/ETH rates have been changing all this time while you were trading and transferring, so it's possible that you lost even more value because of how many minutes this whole process took. (Advanced users will also be familiar with the problem of order book depth, which has a very big impact on the final price that you buy an altcoin for.)

    If you add up all of those costs and the price volatility risk, we believe that the current BloomX pricing is cheaper than doing it the old way. Even better, you can do it all in a single step that takes less than 15 seconds!

  6. How do I deposit my crypto?

    Make sure you have received the email from BloomX confirming that you are ready to trade. This means your profile has been approved and cleared by our Compliance Team.

    On the Deposit page, you’ll see a drop down menu under the words "Deposit Cash."

    Open the wallet that holds your crypto, and send your crypto from that wallet to the designated BloomX address. Make sure you double check the receiving address before sending.

    Scroll down the page and click on the highlighted button to scan for your deposit.

    You can view the status of your deposit on the same page. BloomX will send you an SMS alert when the deposit has been added to your balance.

  7. Why hasn't my crypto deposit reflected on my account balance? It's already received X confirmations on the blockchain!

    Very rarely, some deposits (particularly BTC or ETH deposits) take an unexpectedly long time to reflect in your BloomX account, even after the required number of confirmations. This delay has nothing to do with the blockchain and is a result of internal congestion within Binance itself. In your Deposit History, this transaction will be denoted as "PENDING*". Please rest assured that as long as your transaction received confirmations on the blockchain, it will eventually show up in your balance!

  8. How do I deposit my pesos?

    Make sure you have received the email from BloomX, confirming that you are ready to trade. This means your profile has been approved and cleared by our Compliance Team.

    On the Deposit page, you’ll see the bank deposit details of BloomSolutions. You may make a bank transfer, or deposit a check* to this account.

    Scroll down the page and you'll see a form asking for details about your transfer. Make sure the screenshot of the transfer/photo of the deposit slip is clear, and includes a date and time. Click the SUBMIT button when done.

    You can view the status of your deposit on the same page. BloomX will send you an SMS alert when the deposit has been added to your balance.

    *Please note clearing times for check deposits. Your deposit will only appear on your BloomX account after the funds have cleared.

  9. How do I withdraw my crypto?

    On the Withdraw page, select the crypto you wish to withdraw from the drop down menu. Indicate the amount you wish to withdraw, and paste your crypto wallet address on the fields provided. Take note of the withdrawal fees that will be deducted from your withdrawal amount.

    Tick the box confirming that you own the account receiving the crypto for withdrawal.

    You may also activate second factor authentication (2FA) to reduce waiting times for your withdrawals.

    If you have previously set up your 2FA, you will be asked to enter your 2FA code before clicking Review. Double check your details and click confirm when you’ve ensured all information is in order. You’ll receive an SMS alert when your crypto withdrawal has been approved.

  10. How do I withdraw my pesos?

    On the Withdraw page, provide the required information for your PHP withdrawal. Take note of the withdrawal fees that will be deducted from your BloomX account.

    Tick the box confirming that you own the account receiving the PHP.

    You may also activate second factor authentication (2FA) to reduce waiting times for your withdrawals.

    If you have previously set up your 2FA, you will be asked to enter your 2FA code before clicking Review. Double check your details and click confirm when you’ve ensured all information is in order. You’ll receive an SMS alert when your PHP withdrawal has been completed.

  11. How come I can only trade back into PHP or USDT?

    To keep things simple during this Early Access period, BloomX is only offering trades between various cryptocurrencies and PHP or USDT. We may eventually add more direct trading pairs at a later stage.

  12. Are you guys legit?

    BloomX is an exchange platform owned and operated by BloomSolutions, Inc., a financial services provider licensed by the Bangko Sentral ng Pilipinas.

  13. Why aren't some coins listed?

    BloomX only lists the top 250 cryptocurrencies by market capitalization. Let us know which coins you want to trade, and if there is sufficient interest amongst our users, we'll explore how to get those coins listed. Email us at x@bloomx.app.

  14. Can I lose money on my crypto investment?

    Yes. Cryptocurrencies are a young asset class with extremely volatile prices. Please be aware of the risks of cryptocurrency investments and only invest cash you can afford to lose.

  15. Is my investment insured?

    No. Cryptocurrencies are a young asset class and insurance products for crypto are not yet easily obtained. Please be aware of the risks of cryptocurrency investments, and only put in cash you can afford to lose.

  16. Why am I being asked for ID?

    As a financial services provider licensed by the Bangko Sentral ng Pilipinas, Bloom is required to collect customer information. Bloom follows anti-money laundering regulations, and collecting customer information is a critical aspect of this.

  17. Is my information safe?

    Yes, Bloom follows data privacy laws.