Coinmama Review & Step By Step Exchange Guide

In most cases, you can finish this verification process along with the account registration process. In this mode of confirmation, you will have to upload only the basic information about your identity. As you can see, it supports a good number of areas when compared to exchanges in the market.

Can I send Bitcoin from Coinmama to another wallet?

In order to send (or add) Bitcoin to your wallet, you will need to enter your public key—or wallet address, so that Coinmama can send you your coins.

Unfortunately, Coinmama doesn’t support ACH transfer, PayPal, Discover, and American Express as of writing this. The best thing is that Coinmama guarantees speed of delivery, with cryptocurrencies reaching buy wallets in just a matter of minutes. But have in mind that if you’re looking for specific features, these evaluation points might be less important to you than others. Buy Bitcoin with Bank Account – You can buy Bitcoin with bank transfer using SEPA , SWIFT , or Faster Payments . Unlike credit card orders, SEPA transfers carry no additional processing fee. Once you sign up for an account on Coinmama, you can buy or sell the following cryptocurrencies supported by Coinmama.


Bitcoin and ETH Price Prediction: Upsides At Risk, ATOM Could Rally To

Last but not least, it employs one of the best security systems among crypto exchanges. But, even when it did, the company did not lose any cryptocurrencies. We should also note that the FinCEN registration offers some extra confidence to use the platform.

coinmama exchange review

The Cayman Islands-headquartered company also offers unique features such as margin trading and crypto loans. For starters, Coinmama doesn’t support wallets – something Binance users don’t have to worry about. Another notable difference is the number of cryptocurrencies supported by the two platforms. As of June 12, 2022, Coinmama supported 16 cryptocurrencies while Coinbase supported 100+ currencies. Whichever side of the divide you fall, you would probably be interested in knowing how Coinmama stacks up against the best crypto exchanges. The negative comments expressed disillusionment with regular glitches on the Coinmama website and verification and suspension of accounts.

The site sells fractional shares of bitcoin, so you can make purchases for as low as $30 worth of bitcoin based on its current spot trading price. You will, however, need your own digital wallet to store the cryptocurrencies you buy. Our full cryptocurrency exchange methodology, including the review process and weighted responsibility of solution architect data points, is available for review. 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.

The organization styles itself as a disruptor of the traditional financial order and a facilitator of crypto success stories. As such, the company strongly advocates for decentralized finance. It lets you use a masked email address upon registration to protect your privacy. It also asks for reasonable KYC requirements to keep identity thieves from setting up accounts.

Coinmama Review 2022: Bitcoin, Trading & Fees

As you might have already noticed in this Coinmama review, this exchange is setting itself apart from the rest in many respects, this one included. Protect against scams, users should follow basic internet safety protocols and review the suggestions provided by Coinmama’s support team. Coinmama lists 17 cryptocurrencies available for purchase on its website. just2trade broker review They include the most popular cryptocurrencies, like bitcoin and ethereum, along with some lesser-known cryptocurrencies, such as chainlink and loopring. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site .

The crypto exchange gives its customers the option to purchase crypto using credit cards, debit cards, Apple Pay, and Google Pay. Sadly, Coinmama doesn’t support American Express, Discover, ACH transfer, as well as PayPal. Compared to most of the cryptocurrency exchanges in the market, Coinmama charges a high fees. While the service is up to the mark and worth the price you pay, some beginners may have trouble with these fees. These exorbitant fees are visible when you use payment methods like a credit card.

Coinmama is a digital currency exchange for buying the most popular crypto assets. It is an excellent choice for beginners that want to make a quick purchase using a debit or credit card. However, the downside is that the fees are very expensive and the number of cryptocurrencies is too limited. Coinmama exchange charges an additional processing fee of 5% for buying cryptocurrencies using debit/credit cards. Coinmama offers a simple way for beginners to buy a few popular cryptocurrencies, though its fees are very high. Gemini is a full-service crypto exchange, allowing users to buy, sell, trade, and stake crypto to earn interest.

How long does it take to withdraw from Coinmama?

When your coins have been received, we'll transfer the fiat amount of your transaction to your bank account. It usually takes 1-2 business days for the funds to go through.

The exchange will accept digital currencies from your side and transfer the money to your bank accounts. The withdrawal fees are, however, based on the Coinmama Loyalty Level. Coinmama is a legitimate and reputable company that allows individuals to buy BTC, ETH, XRP, LTC and other digital currencies on a safe platform. Coinmama exchange is a brokerage service which allows users to buy Bitcoins and other altcoins instantly using a credit/debit card. The price listed on the exchange is based on the XBX Index. An XBX index is a real-time representation of Bitcoin’s equivalent in USD, which is calculated by an algorithm based on observable trading activity on leading Bitcoin exchanges.

Other crypto exchanges require you to first deposit fiat currency into your account, then buy crypto, and finally transfer the funds to your external wallet. Coinmama on the other hand, takes the payment at the point of sale, and sends the crypto directly to your wallet. When you sell your crypto, it goes straight from your external wallet, and the fiat funds from the sale are sent straight to your bank account. Furthermore, users don’t need to be concerned about the long-term security of Coinmama’s coin custody. Instead, customers use third-party wallets to ensure complete control of their own coins. Coinmama accepts payment in any fiat currency, but your bank might charge an exchange fee if you pay with something else.

Coinmama is a reputable cryptocurrency broker that makes it easy for anyone to buy Bitcoin and other cryptocurrencies. If you are looking to have quick access to crypto and send it to your own hardware wallet or another exchange-hosted wallet for trading, Coinmama is for you. It doesn’t need you to be tech-savvy, as the design is both simple and effective. This also helps keep your account safe, fight fraud, and more. The process is called verification and is something everyone must go through before buying crypto anywhere.

Coinmama vs Coinbase

You have the option to make a purchase with Apple Pay or a credit or debit card, so the transaction is almost as easy as any online shopping experience. The company focuses on customer experience and customer service so that transactions are super quick . 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. The only problem is that you cannot expand your portfolio beyond a limit.

coinmama exchange review

Coinmama does not accept PayPal, American Express or Discover payment methods and if they start doing so they will be the favorites to buy BTC/ETH quickly. Click on Buy BTC and on the next screen they will ask you to enter the Bitcoin wallet address on which you want to receive Bitcoins. If you don’t have a Bitcoin wallet address, simply follow this guide and get a wallet address for yourself. Coinmama also has higher fees, but you can also take advantage of reduced rates with its loyalty program. Coinmama only gives you access to a handful of cryptocurrencies.

Coinmama is an easy, and convenient way tobuy and sell cryptocurrencies instantly. Although ideal for novice users looking to get hold of digital currencies, you will need to look for another exchange in order to trade your coins, if you ever need to. For this reason, Coinmama exchange may not be a best choice for professional or serial traders. For those who want to check out similar options, we encourage you to reader our guide ‘An alternative to Coinmama‘ and compare the different options. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized.

Payment Method

The platform’s simplicity may not be for everyone, but it is definitely a good starting place if you have never purchased cryptocurrency before. One of Coinmama’s most significant value propositions is its customer service department. Of the various third-party review platforms I looked into, Coinmama had responsive answers to every detrimental review, of which there were few, on each platform. There are multiple payment options for you to use at Coinmama.

How many coins does Coinmama have?

Coinmama sells 10 cryptocurrencies, including major coins like Bitcoin, Ethereum, and Litecoin, as well as less common coins like Qtum, Cardana, and Tezos. The full list includes: Bitcoin (BTC)

The first level is the onboarding process that admits new users. One similarity between the two exchanges, though, is their global presence. Coinmama is supported in 188+ countries, while Kraken was available in 176+ countries as of June 2022.

Platform Functionality

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading etoro broker review history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Verification for this level requires a secondary form of ID.

coinmama exchange review

In this case, Coinmama has a higher value for money score than Coinbase. To make your decision even more fact-based, we have compared Coinmama vs Coinbase with the best-rated crypto exchange platform – Binance. For an even more in-depth Coinmama vs Coinbase comparison, browse the comprehensive feature analysis chart below. Transfer your coins – Send the exact amount of Bitcoin selected to the wallet address provided in a single transaction, or scan the QR code from your wallet app. Once we receive your coins, we will transfer the payout amount to the bank account you provided.

A notable feature of Coinmama’s exchange is its instant buy options. When you click on the Buy tab and select which cryptocurrency you’re interested in, you’ll see the following screen. All in all, Coinmama has helped facilitate the transaction of over $100 million in cryptocurrency across 190 countries. This implies that they have obtained the relevant crypto exchange licenses for the jurisdictions in which they operate.

This feature triggers Coinmama to request additional information before completing any buy or sell order. You need to fill out the registration form and provide the requested personal information to pass the basic level. You can purchase any amount you want, with no minimum purchase amount. Using its packages, you can buy $150, $500, or $1,000 worth of crypto immediately. Also known as a momentum or processing charge, it also applies when using Google Pay or Apple Pay. It trusts your judgment and won’t stop you from parking your crypto assets in risky locations.

HedgewithCrypto aims to publish information that is factual, accurate and up to date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Our only criticism is the high fees and lack of features for intermediate investors and traders that rely on advanced orders and a price chart.