Coinmama Review Accepted Countries, Payment Methods, Coins & User Reviews
It was founded in 2013 and is registered in Slovakia but it was recently acquired by Wellfield, a German blockchain and finance technology company. Coinmama has over 2.4 million customers spread out across 188 countries. Cryptocurrency can feel like a daunting asset class, especially if you’re relatively new to it. Coinmama is GDPR compliant, and all personal information and documentation is encrypted.
Unlimited Transactions
We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Conor was super fast in responding, very polite and gave me excellent service and response to the question that I needed answered. As always Coinmama support staff are the best above all the rest. Considering that Coinmama has such a beginner-friendly design, it’d be nice to see it improve its educational content. The exchange’s blog has some articles, but many of the crypto education sections haven’t had new pieces published in years.
Coinmama Review: Costly Crypto on Credit
Coinmama says that verification can take from a few minutes to up to 30 minutes. When purchasing coins, it’s important to only buy what you can afford to lose. There’s a chance that the price will increase https://www.tokenexus.com/ in the future, but there’s no way to tell. When certain information isn’t readily available, a newbie might ask, “What are they hiding?” for example, the website does not list Coimama fees.
How do we review cryptocurrency platforms?
You are required to provide your wallet details during the transaction process. To transfer or receive Bitcoin that will be held in the wallet, you will need to set up top crypto wallets and then input your wallet address from the desired third-party wallet provider (broker). Users who wish to acquire Bitcoin fast and with simplicity will find Coinmama to be the ideal site to do so; nevertheless, the transaction fees are prohibitively high (about 5.5 percent to 5.9 percent). The Coinmama Review receives lower marks because to the excessive fees, the absence of a cryptocurrency wallet, and the absence of a mobile app.
Experienced Traders
- 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.
- So, looking at all the recent feedbacks more are negative than there are positive.
- Currently, the crypto platform supports eos, tezos, ethereum, bitcoin, and the like.
- Coinmama is a simple, straightforward platform for buying and selling crypto.
- Since the early years, Coinmama has continued to add cryptos to its offering not to mention alternative payment methods.
- Level 2 requires a secondary ID uploaded along with either a utility bill or a selfie of you holding your ID – maximum limit is raised to $50,000 for this level.
Furthermore, as a direct purchasing platform, there are no additional trading pairs available and therefore can only spot trade. Coinmama is a fiat-to-crypto exchange that allows individuals to buy cryptocurrencies using fiat currencies. While the platform supports USD, EUR, GBP, CAD, and AUD, users wishing to transact in another currency will need to look elsewhere. Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication.
- During a purchase, you’ll need to enter the crypto wallet address where you want to receive your order.
- The platform’s interface is clean and intuitive, with all essential information readily available.
- However, it charges relatively high fees for each transaction and doesn’t offer all the features and products that competitors may provide.
- Coinmama will send your crypto coins directly to your wallet, so you should have that set up.
- Coinmama’s app is available on Android only, but has received fairly good reviews.
- Coinmama is a crypto exchange where you can buy bitcoin and other coins instantly.
Although Coinmama remains a relatively small exchange in the cryptocurrency ecosystem, they have yet to experience any known security breaches and are slowly but steadily building up their market share. At present, Coinmama is only currently available as a website, with no mobile app available. In addition, Coinmama has not released an API to enable users to create custom applications that would be compatible with the platform. Coinmama now requires verification for all purchases due to new KYC regulations.
However, despite the higher-than-average fees, Coinmama is a viable platform for beginners looking for a safe way to buy cryptocurrencies. For traders who prioritize keeping their payment data secure and minimizing their exposure to hackers or scams, Coinmama is one of the best cryptocurrency exchanges you could choose. Coinmama seeks to make buying and selling coins as easy and accessible as possible.
