Once Coinmama confirms payment, your newly purchased tokens will be on the way to your secure crypto wallet and should usually arrive within minutes. Before buying cryptocurrency on Coinmama, you will need a crypto wallet supporting the coin of your choice. Nimrod Gruber, Iian Schuster and Laurence Newman founded Coinmama in 2013. The platform has a small number of popular cryptocurrencies available, notably established cryptos like Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and stablecoins USDC and USDT.

Coinmama Exchange Fees

If you're planning to invest in cryptocurrency, Coinmama costs too much to be a good option. Our partners cannot pay us to guarantee favorable reviews of their products or services. Also, it is very easy for beginners to buy cryptocurrencies via Coinmama because everyone prefers using cards while buying things these days.

More On Cryptocurrency

They recently added an option to sell Bitcoin for Customers in the 37 European countries that are part of SEPA (Single Euro Payments Area). Some new customers had to resubmit identifying information more than once in order to confirm their identity. Nonetheless, if you want to contact them after hours, you can raise a support ticket, send an email, or reach them via social media. Simply put, you do not require any prior knowledge to purchase crypto from Coinmama.

Where Coinmama shines

This means that you could end up purchasing coins for more or less than you intended. Keep in mind that there is a limit for first time users on how much you can buy (at the time or writing this limit is $5,000 per day, and up to $20,000 worth per month). Coinmana verification time process usually takes couple of hours during the working time and a bit longer if you start your verification process in the evenings or weekends. Coinmama also supports the purchase of cryptos in Aussie Dollars, Canadian Dollars, EUROs, Great British Pound, and Japanese Yen. All cryptos are immediately transferred to the purchaser’s specified wallet upon purchase.

• Users that wish to transfer currency to another person’s wallet should check the procedure for doing so through their own wallet provider.
• Users will also pay spread fees, called “rates” on Coinmama, and may be subject to other fees depending on the payment method they use.
• There needs to be better customer communication in terms of a human online chat or a way to call on the phone.
• But Coinmama might offer a solution for those who are worried about the security of their coins.
• As Coinmama is an MSB (Money Services Business), you must provide the details as asked for KYC reasons.

CoinSutra writers are not certified financial advisors or brokers. Cryptocurrency activities like purchasing, trading, holding, and selling have inherent risks. CoinSutra and its writers are not responsible for any investment losses from acting on website or social media content. However, despite that, we suffer from poor exchange volumes, latency, and unreliable services to quench the thirst of crypto-investors. Moreover, we also struggle to buy popular cryptos like BTC & ETH, which is not a pretty experience.

Is Coinmama Safe?

• On the exchange, first-time purchasers who do not yet own any cryptocurrencies may quickly get some using either their credit or debit cards, or even via wire transfers if they like.
• If an order aborts, the Coinmama system automatically voids the payment within 48 hours and refunds the money back into the user’s bank account.
• Additionally, the Coinmama exchange is exerting significant effort to cut the brokerage costs to the greatest extent that is practically achievable.
• We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer.
• We must mention in our Coinmama review that even though Coinmama is not one of the top crypto exchanges, they mainly evade media scandals or news that might involve them.
• Once you log into your account, you will realize that Coinmama displays easy options and even goes ahead to list the exchange rates in your local currency.
• This allows users to be able to take advantage of advantageous price movements.

Traders are required to visit the Coinmama website, where they must register by supplying fundamental information such as their complete name, address, phone number, and a working email address. The maximum amount a customer may purchase in a single day is 5,000 USD, and the maximum amount a customer can purchase in a single month is 15,000. These restrictions, however, vary depending on the kind of account the customer has. To start off our Coinmama review, we’ll highlight some great parts of their user experience. Lastly, in our Coinmama review, we would like to present a 360-degree analysis of what we think about the Coinmama services. In our Coinmama review, we will be showing you how to create and verify an account on the exchange.

We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options. First-time bitcoin purchasers are the ideal customers for the Coinmama platform.

Different assets have various levels of risk and potential returns. 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. Coinmama supports users with 24/7 access via Coinmama Review email or telephone, which positions it well in the cryptocurrency space when compared to other exchanges. So, Coinmama customers can still buy Ethereum and other top cryptos, and it will be interesting to observe if Coinmama develops further from its current offerings as a crypto exchange.

Supported Currencies and Available Countries

Traders can then trade the cryptocurrencies that they bought with their cryptocurrencies. These cryptocurrencies are becoming increasingly popular throughout the world. Coinmama said in 2019 that it will now be able to enable the sale of bitcoin. Coinmama places a strong emphasis on providing superior customer support services and customer experiences to its clientele in order https://www.tokenexus.com/ to facilitate the swift completion of financial transactions. People search for a variety of benefits, but one of the most popular is one that supports a number of different currencies and methods of payment. People who use Coinmama have the ability to choose any crypto pair they want from the extensive selection of cryptocurrencies that are supported by the exchange.