Coinmama Review 2021

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coinmama

Though the exchange is based in Israel, Coinmama does not offer its services to the country’s residents. Coinmama will provide a wallet address to which you need to send the Bitcoin. Copy the address and paste it into the receiving address space.

The transaction fee you pay for buying and selling crypto on Coinmama depends on your loyalty level. Loyalty levels are based on your cumulative purchase amount in the previous 90 days. If you have just signed up to Coinmama, your loyalty level is Crypto Curious. These are the buy/sell fees for the various loyalty levels. CoinMama states it currently serves over 1,900,000 users in 188 countries. They are providing a fast way to buy Bitcoin with a credit/ debit card, or with your bank account.

Coinmama Vs Bitstamp

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them. How areregular people making returns of as much as 27,144% in a year? By picking the right coin at the right time – click the button to learn more. Coinmama requires 1 valid government issued ID and a selfie of yourself holding that ID and a note with “Coinmama” and today’s date written on it.

However, users are free from any additional charges for withdrawing. Coinmama is a simple and secure platform, which continues to grow and is competitive. The signup and verification process is simple, and it takes only a limited time to complete it.

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Unlike most other cryptocurrency exchanges that require a learned professional to help traders to use the trading platform, Coinmama is self-explanatory. One can easily understand the working procedures of the exchange by logging into the Coinmama website. One can find every single detail there, and the registration process is also straightforward. Traders need to sign on to the Coinmama website and register by providing basic details like full name, address, phone number, and a valid email ID. Then, they are required to lock their login credentials with a strong password. Ensure that you remember the password every time you log in to the broker website, write it on a piece of paper if necessary, keep it in a safe place, and never share it with anyone. Coinmama accepts multiple modes of payments, which makes processing easier and faster.

Is Coinmama better than Coinbase?

For new investors looking to get into the cryptocurrency trading game, Coinbase is probably a better choice than Coinmama. While Coinbase users pay a premium for the ease of use that the platform offers, it still ends up being cheaper than Coinmama, one of the most expensive exchanges out there.

It has such an appeal that continues to make the exchange attractive to new and seasoned users seven years since its inception. PitchBook is a financial technology company that provides data on the capital markets. We rarely run ads, but sometimes earn a small commission when you purchase a product or service via a link on our site. Great customer support, get connected to and talk with a real human quickly. Bank transfer or deposit fees vary widely across the industry. Obviously, Coinmama’s zero fees are the best in the industry, but many competitors also do not charge for this service.

Coinmama Review: Privacy And Security

The main advantage of using CoinMama lies in its world-wide availability and speed. Disadvantages include a lack of features such as a wallet and privacy issues. An image of you holding a piece of paper saying “Coinmama” with today’s date. Once you have logged into your account, navigate to the Buy page, and select what you’d like to purchase – in this case, I’ll assume that it’s Bitcoin.

The Coinmama exchange is also making serious efforts to reduce the brokerage fees as much as possible. It is a legitimate online crypto marketplace that has been around since 2013. It can be used in 190 countries worldwide and has over 3 million users. If you are after a safe and quick way to buy and sell the most popular cryptocurrencies, then Coinmama is the crypto marketplace you should use. Read our in-depth review of Coinmama to see why Coinmama scored 3.2 stars out of 5.

Coinmama Fees

With an education in economics and finance and an interest in history and politics, there isn’t much happening in the world of finance that he’s not following. Coinmama screenshot – “The fastest way to buy cryptocurrency.”However, this top ranking breaks down as we move away from this narrow window of user types. Coinmama has three different verification levels, each of which sets a different limit on the amount of crypto that you can buy.

coinmama

Coinmama allows its customers to buy cryptocurrencies via credit card, debit card and bank transfer. Once you decide what cryptocurrency you want to buy, add your payment option, credit/debit card, or bank transfer details.

Is Coinmama Safe?

If you would like to check out Coinbase, more recommended broker exchange, then check out this full review. Next up, you’ll need to enter your identification details. Double-check that you have entered the correct information or it may delay the process! You will see that you first need to verify your account. Now you will need to enter your full name, choose a strong password and enter your country of residence.

  • Even if Coinmama is hacked, you will not lose any crypto because it is always stored in your personal hot or cold wallet.
  • It was one of the first cryptocurrency exchanges to add support for buying Bitcoin using a credit card.
  • For a complete guide on which ID is required in each country read this post.
  • This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.
  • This stat speaks volumes that Coinmama is legit and safe to use.

Open a free cryptocurrency account at Coinmama to save on transaction fees whenever you buy or sell major coins. If you want to try the site and see what kind of discounts are available on Bitcoin transfer, then you don’t even need to enter your full name to join. Coinmama is a crypto marketplace that is limited in its range of coins, with only ten different cryptocurrencies available. It is also lacking in features, and doesn’t even have price charts for the coins you are looking to purchase. However, Coinmama isn’t aiming to be a feature-packed exchange with a wide array of cryptocurrencies. Coinmama has targeted its platform to people that want a quick and simple way to buy and sell crypto, and I commend them on achieving that to a high standard. Yes, Coinmama is a reliable company that comes with robust security and an easy-to-use platform that’s suitable even for beginners.

It seems like every other day, a cryptocurrency exchange is getting hacked and user funds stolen in the process. In conclusion of this coinmama review review we can say that this is a reputable company, so the short answer isyes, Coinmama is legit and safe to buy crypto on it. The only downfall is its high fees, which unfortunately can’t be avoided when using a credit card at the moment. Coinmama is a bit different than other exchanges when it comes to buying crypto.

coinmama

While you wait, we recommend that you familiarise yourself with the platform. Coinmama provides you with articles to read in order to become acquainted. Users can either purchase cryptos by way of packages from the “Buy” page or purchase specific amounts. No advanced tools for trading Bitcoin and other cryptos.

It only takes 30 minutes to few hours to verify the user’s documents. This is the fastest and quickest KYC verification that anyone would ever get from any other platform. Go to your mail inbox, and open the Coinmama verification email. Click on the “Confirm Your Email” to complete the verification process.

coinmama

Coinmama is an Israel-based online cryptocurrency exchange platform to buy and sell cryptocurrencies. It was created to build the most straightforward and easy crypto exchange platform. Since 2013, it has now about 2.2 million active users across 197 countries.

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Author: Felipe Erazo

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