All in all, Coinmama is a great platform for beginners, as well as more adept crypto users who are looking for a reliable fiat-to-crypto gateway. Quick, reliable, and secure service are the hallmarks of Coinmama. Multiple crypto wallets are available, so research online if you don’t wish to use the above options or check the best crypto hardware wallets of 2024.

• Do note that there is a minimum purchase amount of USD50 equivalent.
• There’s also a sell fee of up to 1.9% based directly on your loyalty level.
• It’s also standard practice for any exchange that complies with Anti-Money Laundering laws.
• One can easily understand the working procedures of the exchange by logging into the Coinmama webpage.
• I can strongly recommend Coinmama if you appreciate great service.
• Only a few countries and several territories are restricted, such as Hawaii and New York.
• If you click on links we provide, we may receive compensation.

Coinmama’s market rate for bitcoin is XBX + 2%, so that’s the price you pay for the crypto. Coinmama offers ether and bitcoin calculators so you can plan your potential purchases, but keep in mind the calculator doesn’t include Coinmama fees. Coinmama has three levels of verification, with each successive tier increasing the buying limit on the account.

Enter your Wallet Address

The Academy is easy to navigate and written for even the virgin crypto novice. On your account dashboard, you can click the ‘Orders’ button on the sidebar menu to review your orders. After registering, Coinmama sends an email asking you to verify your https://www.tokenexus.com/ account. After clicking the link, you will be redirected back to the site. In order to begin purchasing coins, you first need to verify your identity. It’s good to note that the Coinmama team responds considerately to every Trustpilot review.

Founded in 2013, Coinmama has been a long-time choice for consumers wanting a fast way to purchase cryptocurrency via credit/debit card. The company was the first to offer this method of payment and have grown rapidly as a result of this accessibility. The site is available for almost everyone, serving 226 countries and the majority of U.S. states.

Coinmama Review 2024 : About Its Safety with Pros & Cons

It has more than 2.2 million active users from 197 different countries, including U.S. citizens. This stat speaks volumes that Coinmama is legit and safe to use. This exchange platform also allows users to purchase multi-currency made in USD, GBP, EUR, AUD, JPY, and CAD. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.

There is a drop-down menu with various options like credit cards, debit cards, and wire transfers. For this, you need to provide basic information about your bank account. Coimama accepts all fiat currencies coming from countries where it provides its services. This includes deposits and credit card purchases denominated in the most popular fiat currencies such as USD, EUR, GBP, CAD, AUD, JPY, and many others. The platform also supports many payment options, including bank transfers, bank cards, and other local payment options.

Payment Method

There’s also a non-custodial wallet option through Coinbase, where you control your private keys. In fact, you could potentially send coins you buy on Coinmama to your Coinbase wallet. Coinbase also charges relatively high fees, but you could still save money on fees using Coinbase instead of Coinmama. Yes, Coinmama is a legitimate place to buy cryptocurrencies and sell bitcoin.

For instance, some other exchanges offer discounts on trading fees but in order to qualify for the discount you first must purchase some of their exchange token. Coinmama has a great loyalty program which is designed to reward all of those traders and investors who use the platform regularly. Although Coinmama limits how much crypto everyone can buy the limits are quite high and getting rewarded for purchasing Bitcoin is a good deal.

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The more documentation you provide, the more currency you can buy on Coinmama. Being new, I rely on straight forward info and fast support response. I have an issue with one transaction, that took longer than expected…

Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. This can become really expensive if you’re purchasing cryptocurrencies in large amounts or on a regular basis. When you enter your card details and make a purchase with Coinmama, your coins are sent to your private wallet as soon as the payment Coinmama Review goes through! This is a much safer option for you as third-party wallets are known for being hacked. Coinmama support provides tremendous assistance in case of any issues and is highly recommended for beginners. Even though Coinmama does have a comparatively higher fee structure, it compensates with excellent customer service that adds value to the money.

In Coinmama’s case, the company has made ongoing efforts to reduce its fees as much as possible. At the end of this post, you can see how Coinmama compares to other exchanges. For beginners, this is an excellent option for buying your first Bitcoin. More advanced users can use alternative trading platforms to save on transaction fees. Since Coinmama neither holds cryptos on the exchange nor stores customer information, there is no 2-factor authentication. Coinmama does recommend that users enable 2-factor authentication on any wallet apps, however.