Coinmama Review Buy and Sell Bitcoin and Cryptocurrencies 2024

Admin Forex Trading

Coinmama is a cryptocurrency exchange that offers investors a straightforward buying and selling experience. It might not be ideal for the cryptocurrency enthusiast looking for a robust suite of products, but it could be the right place if you simply want to buy or sell crypto. If you’re ok with buying and selling coins directly from Coinmama, it offers a lot of benefits. You get instant coin delivery, multiple payment options, and high spending limits. Customer support is available via email, as well as an extensive list of FAQ’s.

  1. We highly recommend using a hardware cryptocurrency wallet like Ledger or Trezor, as they provide one of the safest ways to secure your coins in cold storage.
  2. Having your digital currency sent immediately to your own wallet rather than being stored on the site is also a big positive.
  3. Once your wallet address and payment are confirmed, you should receive your coins in minutes.
  4. For our Coinmama review, we tested the support team’s response time and received an email back in less than an hour, which was impressive.
  5. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).
  6. Having access to a substantial number of assets is crucial for anyone wishing to buy and sell crypto.

There’s also a non-custodial wallet option through Coinbase, where you control your private keys. In fact, you could potentially send coins you buy on Coinmama to your Coinbase wallet. Coinbase also charges relatively high fees, but you could still save money on fees using Coinbase instead of Coinmama. We receive compensation from the products and services mentioned in this story, but the opinions are the author’s own. Learn more about how we make money and our editorial policies.

The exchange offers instant order delivery (when you purchase different coins), multiple payment options, high spending limits, and more. Both Coinmama and BlockFi are cryptocurrency exchanges allowing customers to buy and sell digital assets; however, there are some notable differences between the two platforms. Coinmama is different from most exchanges in that it doesn’t store cryptocurrency for its users. It sends cryptocurrency to the wallet address provided during the purchase process. Since orders go to a user’s own wallet, keeping that crypto safe is ultimately the responsibility of the user.

Full Coinmama review

It has a dedicated help center, where you can also use the search option to find the answers to your queries. Despite Coinmama’s accessibility and ease of use, the lack of features and high fees greatly hinder the platform’s usability. While suitable for beginners looking to buy crypto without hassle, anyone wishing to perform analysis or utilize advanced tools will need to find a dedicated trading platform. Coinmama is a well-known digital currency exchange that has become popular in the industry.

Crypto Guides

Case studies carried out by commentators have suggested that it users should add an additional 10% in fees when transacting through Coinmama. Altogether Coinmama is a reliable, established exchange and definitely one of the better platforms for the purchase of crypto. With the Coinmama loyalty program everyone is automatically enrolled, you don’t have to sign up for anything.

Even though it accepts Credit and Debit cards, the fee is relatively high compared to other platforms. However, users are free from any additional charges for withdrawing. Coinmama is a simple and secure platform, which continues to grow and is competitive. In this article, we will review Coinmama, a crypto exchange for buying and selling Bitcoin and other cryptocurrencies.

A non-custodial cryptocurrency broker like Coinmama is one of the safest places to buy crypto, as the platforms do not store customer funds or hold digital assets. We completed a mock purchase while creating our Coinmama review and noticed that users must provide a crypto wallet address before initiating a purchase. Once the address is provided, the user can decide which payment method works for them and complete the transaction. Coinmama operates in a straightforward manner to allow you to buy cryptocurrencies using fiat currency.

Is Coinmama trustworthy?

With Coinmama, you could eventually qualify for a spending limit of up to $1 million. However, it doesn’t allow someone to come in and buy $1 million worth of Bitcoin right off the bat. Instead, it breaks all of its users up into three account levels.

Coinmama VIP Service

It gives customers the option to purchase crypto using credit cards, debit cards, bank transfers, Apple Pay, and Google Pay. Coinmama is a crypto broker exchange that was created in 2013.Based in Israel, Coinmama specializes in fiat-to-crypto purchases where assets are deposited directly into users’ wallets. Coinmama falls under those who first supported the purchase of Bitcoin with credit and debit cards. Even though Coinmama does not have trading options like margin trading, users find it appealing and prefer it. One of the reasons users prefer it is because they continuously add cryptocurrencies and alternate payment methods. Coinmama is an established, straightforward cryptocurrency exchange.

Coinmama’s trading fees are 0.1% to 0.9% plus the 2% spread to sell cryptocurrency. Furthermore, an additional spread fee charged at 2% above the market rate is used to offset volatility. While there are no monthly membership fees or other regular surcharges, Coinmama does have a kind of complicated fee structure that applies to each transaction. It’s generally in line with—and sometimes cheaper than—what other crypto exchanges charge but a little more transparency about fees would make this area of Coinmama’s service a lot better.

Coinmama At A Glance

Customers are also encouraged to enable two-factor authentication, though it isn’t required. You can use Coinmama’s help center to help troubleshoot issues.If you need to contact someone from Coinmama, you can do so via a contact form or via email. Reviews of customer service on Trustpilot are good, with many reporting helpful, prompt support. A maker fee is the fee charged when you propose an order for other traders to take.

Coinmama is a straightforward exchange where you can buy several cryptocurrencies and sell Bitcoin. Accepted payment methods include credit and debit cards, Apple Pay, Google Pay, and ACH transfers. Founded in 2013, Coinmama has been a long-time choice for consumers wanting a fast way to purchase cryptocurrency via credit/debit card. The company was the first to offer this method of payment and have grown rapidly as a result of this accessibility. The site is available for almost everyone, serving 226 countries and the majority of U.S. states. In addition, Coinmama charges an additional 5% fee on each credit and debit card transaction.

You will also need to take a selfie of you holding the ID, which is to make sure you are who you say you are. On top of the fees you will be charged when using your card, you will also be charged an average fee of 5.5% for every transaction you make! The exact fee will depend on the number of coins you want to buy, and this seems to change without notice. We write product reviews and comparison articles in the field of cryptocurrency. It only takes 30 minutes to few hours to verify the user’s documents.