Coinmama Review Accepted Countries, Payment Methods, Coins & User Reviews

coinmama review

This compensation may impact how and where products appear on this site. We are not a comparison-tool and these offers do not represent all coinmama review available deposit, investment, loan or credit products. Coinmama works a little differently from standard exchanges in that it does not hold customer cryptocurrency.

coinmama review

If you cannot find a cryptocurrency that you’re looking for, you should check out Kucoin that has more options to choose from. The verification process is quite simple as you only need to confirm your personal details and then upload some form of ID. 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. So, even though you can only purchase the two most popular cryptocurrencies, both BTC and ETH will allow you to trade with all the smaller, less popular cryptos.

Are There Any Fees?

However, if you look around at companies selling you Bitcoinwith credit card as a payment method, you’ll see that it’s basically the same fee everywhere. The reason why fees are so high is because of expensive measures these companies have to deploy in order to avoid fraud and chargebacks. After finishing the payment, the cryptocurrency is sent immediately to the user’s private wallet address, not a wallet that is kept on Coinmama servers. The minimum purchase amount on Coinmama is 60 USD (or its equivalent in EUR) at present, although this is based on the price of Bitcoin.

Are Coinmama’s Fees Competitive?

Hedge With Crypto is an independent publisher that provides objective and free content. However, our editorial content remains unbiased, reflecting our own opinions or the general information available. For more information on our company policies, read the Affiliate Disclosure, Privacy Policy, and Terms & Conditions. When certain information isn’t readily available, a newbie might ask, “What are they hiding?” for example, the website does not list Coimama fees. It’s easy to register an account with Coinmama by entering your email, password and other details required (see below image), and clicking ‘Create Account’. Coinmama is available in 200 countries and has over 3 million users.

coinmama review

Coinmama Transaction Fees

However, our recommendations are driven by our independent opinions. The information provided on this site is for educational purposes only and we strongly encourage you to do your own research before making any decisions. The KYC process begins during the final steps of your first crypto purchase or sale. KYC was immediate after I submitted a clear photo of my government-issued ID, a separate selfie, and completed a brief FCA questionnaire. The College Investor® provides the latest news and analysis for saving and paying for college, student loan debt, personal finance, banking, and college admissions. Some people have complained about the verification process taking a few tries before it finally works.

  • 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.
  • Additionally, no ticketing system, support resources, or customer support email was accessible while logged into the platform.
  • This still surpasses exchanges like MEXC, which have minimal fiat support.
  • Coinmama provides a simple way to purchase cryptocurrencies with a credit card, debit card, or bank wire transfer.
  • One that is unique to Coinmama if you choose to sign up with them.
  • You get access to all the major cryptocurrencies, a wide variety of payment options, and the comfort of knowing your order will fill instantly.

Coinmama Review: Easy to Use, High Fees

There are minimum required deposit amounts depending on the payment method you use. However both SWIFT Global and SWIFT UK have a minimum amount of $250. Additionally Fedwire has a minimum deposit amount of $500. That includes all the countries in Europe, Canada and Australia. The brands listed on this site are carefully researched, and we may earn fees from some.

  • Although some might be cheaper when it comes to transaction fees, they might not offer the option to use your debit or credit card.
  • With this service, Coinmama will provide assistance with managing a crypto portfolio of up to $100 million.
  • The platform also provides an FAQ section, but it is limited.
  • Coinmama specializes in selling Bitcoin and cryptocurrencies instantly with a credit card, or with bank transfer and is one of the most popular exchanges in the world.
  • A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books.
  • The reason I am giving four stars is because of Carl and his skill in keeping me calm in the situation.I did not like how the verification was done.

You have a choice of various deposit methods to buy cryptocurrency. Additionally Coinmama are constantly working to include new payment methods on their platform. Quite a lot of cryptocurrency related businesses do not have good customer support. However we are happy to say that Coinmama customer service are on the ball and have great support. The platform is designed for simple buying, selling, and swapping of cryptocurrencies. Coinmama is a functional platform for buying and selling cryptocurrency.

Coinmama deposit methods

After the initial account verification, purchased coins immediately go to your digital wallet. Note that you’ll need to already have a digital wallet that you use since Coinmama is not a wallet provider and doesn’t hold coins for you. The exchange holds no assets on the platform, making it unappealing to hackers.Traders can buy 16 cryptocurrencies but can only sell Bitcoin through Coinmama. However, it is a secure platform that has successfully helped over 3 million users purchase digital assets in 188 countries.Coinmama is more of a brokerage than a crypto exchange.

Coinmama is a crypto exchange where you can buy bitcoin and other coins instantly. It’s incredibly easy to buy Bitcoinsat Coinmama, which is one of the reasons they’re so popular. That is why this Coinmama review will end on a good note for the exchange – there is simply nothing to complain about. However, overall, the service is available in the widest range of countries. This is crucial, because sometimes a day or two can mean wide price fluctuations in Bitcoin. This means that you could end up purchasing coins for more or less than you intended.

We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review. Coinmama offers a link on its website that leads directly to customer service. In addition to its customer support options, Coinmama also has a help center where users can find answers to common questions about account management, fees, and more.

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Rather than earning money with Coinmama, you are buying cryptocurrencies from the exchange and hoping that they increase in value. Keep in mind that cryptocurrencies are a new asset class and price swings are common. When investing money, it’s important to understand the purpose of an asset in your portfolio. Different assets have various levels of risk and potential returns.