If you want a fast strategy to buy crypto, Coinmama may be what you’re on the lookout for. With Coinmama, you possibly can immediately buy digital property with something from a bank switch to Apple Pay, making it one of the handy crypto brokers on the market.
However, is Coinmama actually the best option to your crypto investing wants?
In this Coinmama review, we’ll check out how the platform operates and its varied pros and cons. That approach, you possibly can see if Coinmama is all that it’s cracked as much as be.
→ Visit now: www.Coinmama.com
What Is Coinmama?
Founded in 2013, Coinmama is a cryptocurrency exchange working out of Dublin, Ireland (the corporate is owned by New Bit Ventures LTD, primarily based in Israel). The agency was established as a strategy to make Bitcoin and different cryptocurrencies as accessible as potential.
Coinmama at present has greater than three million purchasers in additional than 180 international locations. The firm offers a simplified approach for anybody to commerce widespread cryptocurrencies with the push of a button.
How Does Coinmama Work?
If you wish to use Coinmama, it’s essential to create and fund an account. Here’s a have a look at how Coinmama works.
Getting Started
To use Coinmama, you first must confirm your eligibility for the platform. The firm operates in most international locations all over the world. However, Coinmama is just not at present obtainable within the states of New York or Hawaii.
If you might be eligible to open a Coinmama account, you’ll want to collect some personal data and documents earlier than you apply. All Coinmama buyers are required to supply personal data, together with:
- Full identify
- Phone number
- Email address
- Date of beginning
- Physical address
Additionally, it’s essential to submit a replica of your legitimate government-issued photograph ID (word that, for US residents, this should be a driver’s license, not a passport). You should additionally upload a selfie of you holding that ID.
Submitting this data to Coinmama makes you eligible for Verification Level 1. If you wish to improve your spending limits on Coinmama (extra on that in a bit), you might wish to apply for Verification Level 2 or 3. To achieve this, you’ll additionally want to supply:
- A second government-issued photograph ID
- A replica of a latest utility invoice or a latest bank assertion
- A accomplished KYC (Know Your Client) questionnaire
Opening an Account
To open an account, merely go to the corporate’s website – word that Coinmama doesn’t have a mobile app – and click on the button to enroll.
→ Visit now: www.Coinmama.com
You’ll be prompted to enter your personal data and confirm your electronic mail address. After, you’ll upload copies of your government-issued ID and take a selfie.
Once that’s arrange, your account should be verified earlier than you possibly can buy crypto. The verification course of can take wherever from quarter-hour to a couple days.
After your account is verified, you’ll want to attach it to an exterior crypto wallet as a result of Coinmama doesn’t offer wallet companies. So, you’ll must arrange a personal hot or cold wallet to make use of the platform.
Funding Options
One of the first features of Coinmama is its many account funding choices. The agency helps a number of different fee methods, together with:
- Fedwire Wire Transfer (USD)
- SWIFT Global Transfer (GBP)
- SWIFT Fast Payment Transfer (GBP)
- SEPA Transfer (EUR)
- SEPA Instant Transfer (EUR)
- Open Banking Transfer (GBP)
- Skrill (EUR)
- Credit and Debit Cards (Visa and Mastercard solely)
- Apple Pay
- Google Pay
- Crypto Transfers (BTC solely)
However, word that every of the corporate’s supported funding choices has completely different charges, minimal order sizes, and transaction speeds.
For instance, all bank transfers have a $250 minimal order dimension and some can take 5 business days to course of. Wire transfers have a $500 minimal. Finally, most different funding choices have a $100 minimal order dimension.
Cryptocurrencies Available on Coinmama
With Coinmama, you possibly can buy a number of widespread cash, together with:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Dogecoin (DOGE)
- Cardano (ADA)
- Litecoin (LTC)
- Ripple (XRP)
- Tezos (XTZ)
But understand that you at present can solely sell Bitcoin (BTC) on the platform. If you wish to sell some other cash, you’ll want to take action with a unique dealer or exchange.
Coinmama Features
Coinmama boasts a collection of features for the eager crypto trader. These are among the features you possibly can look ahead to for those who use the platform.
Trade Cryptocurrencies
Coinmama is primarily a spot to buy cryptocurrencies. However, Coinmama is just not a conventional exchange.
When you buy crypto from the corporate, you’re not trading with one other investor. Rather, you’re buying crypto immediately from Coinmama’s stock.
In addition to crypto purchases, Coinmama additionally permits you to sell Bitcoin in exchange for USD or EUR. As of the time of writing, the corporate doesn’t can help you sell different cryptocurrencies.
Instant Transactions
One of the key advantages of Coinmama is its super-fast transaction speeds. Since the agency sells its crypto property to buyers, it could possibly course of transactions as quickly as they’re confirmed.
This makes purchases on Coinmama a lot sooner than they’d in any other case be on an exchange the place patrons should be matched with sellers.
However, there are downsides to buying immediately from an organization like Coinmama. In explicit, Coinmama tends to have larger costs than different brokers as a result of it bases its coin costs on the XBX Index + 2%. This is completely different from exchanges the place you often pay the exchange’s market price plus a variety fee (which might be fairly small).
Loyalty Program
Coinmama affords a loyalty program that provides rewards to your crypto purchases. There are three loyalty ranges throughout the program:
- Crypto Curious – All accounts routinely qualify for this loyalty stage. There are not any reductions at this stage.
- Crypto Enthusiast – If you keep a cumulative buy amount of $5,000 in crypto over a rolling 90-day interval, it can save you as much as 12.5% off the price of your Coinmama orders.
- Crypto Believer – Investors with greater than $18,000 in crypto purchases over a rolling 90-day interval or a lifetime buy amount over $50,000 can save 25% off their crypto orders.
Do word that your loyalty program financial savings seem as a crypto bonus if you course of a buy order – not as a reduced price in your order.
→ Visit now: www.Coinmama.com
Business Program
For institutional buyers that wish to buy greater than $100,000 in crypto at a time, Coinmama affords a business program. This program consists of entry to:
- Personal Coinmama consultants and security specialists
- Compliance steerage to your company investments
- Discounted charges of two.5% for your complete service
Signing up for the business program requires an utility. So, contact the agency on to be taught extra about eligibility necessities and to open an account.
Multiple Payment Methods
Most crypto brokers and exchanges solely help a restricted number of funding choices. But, with Coinmama, you possibly can buy cash utilizing a slew of fee methods, together with:
- Bank transfers
- Wire transfers
- Credit and debit cards
- Apple Pay
- Google Pay
Coinmama’s inclusion of Apple Pay and Google Pay is especially groundbreaking. Coinmama was one of many first to help these fee choices, making it a pioneer in different crypto buying methods.
High Spending Limits
Coinmama affords very high spending limits. These spending limits are decided primarily based in your account verification stage and are as follows:
There is a Verification Level 4 obtainable for very energetic buyers. Contact the agency immediately for extra data on how to apply.
Coinmama Pricing & Fees
If there’s one space the place Coinmama doesn’t fairly impress, it’s by way of the platform’s complicated fee schedule. Here’s what that you must know:
Transaction Fees
All crypto buy orders at Coinmama are processed utilizing the coin’s present going rate on the XBX Index, plus a 2% fee.
Coinmama additionally expenses a fee fee. This fee fee varies primarily based in your loyalty stage and is as follows:
- Crypto Curious – 3.81%
- Crypto Enthusiast – 3.34%
- Crypto Believer – 2.86%
Keep in thoughts that you could be additionally must pay a network fee when transferring your cash to your personal crypto wallet.
The firm additionally expenses fee charges for Bitcoin sell orders primarily based in your loyalty ranges. These commissions are:
- Crypto Curious – 3.90%
- Crypto Enthusiast – 3.41%
- Crypto Believer – 2.93%
Payment Method Fees
Coinmama additionally expenses charges primarily based in your chosen fee technique. Currently, Coinmama doesn’t cost charges for bank or wire transfers. However, it expenses a 2.5% fee for Skrill payments and a 5% fee for credit cards, debit cards, Apple Pay, and Google Pay purchases.
→ Visit now: www.Coinmama.com
Coinmama Security & Insurance
When it involves security and insurance coverage, Coinmama is a bit of an outlier within the crypto dealer and exchange trade. That’s as a result of, whereas the agency affords encryption and two-factor authentication on all accounts, it by no means really shops your cryptocurrencies.
Since Coinmama doesn’t offer wallet companies, the security of your property is under your management. As such, anybody utilizing Coinmama must have a high quality crypto wallet.
However, we must always point out that Coinmama skilled a security seaside in 2019. During this breach, hackers gained entry to details about 1.4 million Coinmama buyers.
Nevertheless, Coinmama doesn’t retailer client crypto or any client fee methods, so no funds had been misplaced within the breach. But it’s one thing to remember earlier than opening an account.
Coinmama Customer Support
If you’ve a difficulty along with your Coinmama account, you possibly can shortly entry solutions to most typical questions on the agency’s detailed on-line assist pages. Additionally, the corporate affords email-based buyer help.
That being mentioned, Coinmama doesn’t have phone-based help. But it does offer expedited buyer service for accounts on the Enthusiast and Believer loyalty ranges.
→ Visit now: www.Coinmama.com
Coinmama Pros
- Wide range of supported international locations
- Opportunities for very high spending limits
- Supports many alternative fee choices
- Quick transaction processing speeds
- Instantly transfers bought cash to your personal wallet
- Available in most international locations
- Supports multiple fiat currencies
- No further charges on bank switch purchases
Coinmama Cons
- Very high transaction and trading charges
- Large minimal order sizes
- Requires photograph ID verification for all accounts
- Not obtainable in all 50 US states
- Can solely sell Bitcoin (BTC)
- No mobile app obtainable
Coinmama Alternatives
Not certain that Coinmama is best for you? Here are two Coinmama options to think about.
Coinbase
Coinbase is without doubt one of the world’s largest crypto exchanges. It helps trades of greater than 50 cryptocurrencies utilizing basic and superior trading terminals. Additionally, Coinbase affords multiple additional features, like crypto staking and a strategy to earn free crypto by watching movies.
→ Visit now: www.Coinbase.com
When in comparison with Coinmama, Coinbase’s main benefit is that it usually expenses decrease charges. That being mentioned, Coinbase has decrease limits than Coinmama and its transactions might be slower to course of.
Gemini
Gemini is a US-based crypto exchange that prioritizes security above all else. With Gemini, you possibly can commerce greater than 40 cryptocurrencies on both a basic or superior exchange. The agency additionally affords curiosity on crypto held in your account. Gemini additionally has a credit card that provides as much as 3% again in crypto rewards.
→ Visit now: www.Gemini.com
As is the case with Coinbase, charges on Gemini are usually decrease than with Coinmama. However, Gemini has a lot decrease deposit and trading limits than Coinmama and it’s solely obtainable in about 50 international locations.
Who Is Coinmama For?
Coinmama is a perfect platform for buyers that want a strategy to shortly buy crypto utilizing a range of fee methods. Since the agency doesn’t offer a wallet service, it’s additionally finest for merchants that have already got a personal wallet.
However, Coinmama’s charges are among the highest within the trade, so it’s solely appropriate for buyers which are keen to pay a premium for comfort. But Coinmama additionally affords very high trading limits, so it’s nice for buyers that wish to buy giant portions of digital property.
→ Visit now: www.Coinmama.com
Coinmama FAQ
Here are our solutions to a few of your mostly requested questions on Coinmama.
Is Coinmama Safe?
Coinmama is a widely known crypto dealer that locations a high emphasis on client safety. However, the agency by no means shops your fee details or your cryptocurrencies, so the safety of your digital property is dependent upon the security of your personal crypto wallet.
Where Is Coinmama Registered?
Coinmama is registered in multiple international locations under the identify Cmama Ltd. This is the daughter firm of New Bit Ventures Ltd, which is predicated in Israel. Additionally, Cmama Ltd. is headquartered in Ireland and is registered as a Money Service Business within the US.
If you want a fast strategy to buy crypto, Coinmama may be what you’re on the lookout for. With Coinmama, you possibly can immediately buy digital property with something from a bank switch to Apple Pay, making it one of the handy crypto brokers on the market.
However, is Coinmama actually the best option to your crypto investing wants?
In this Coinmama review, we’ll check out how the platform operates and its varied pros and cons. That approach, you possibly can see if Coinmama is all that it’s cracked as much as be.
→ Visit now: www.Coinmama.com
What Is Coinmama?
Founded in 2013, Coinmama is a cryptocurrency exchange working out of Dublin, Ireland (the corporate is owned by New Bit Ventures LTD, primarily based in Israel). The agency was established as a strategy to make Bitcoin and different cryptocurrencies as accessible as potential.
Coinmama at present has greater than three million purchasers in additional than 180 international locations. The firm offers a simplified approach for anybody to commerce widespread cryptocurrencies with the push of a button.
How Does Coinmama Work?
If you wish to use Coinmama, it’s essential to create and fund an account. Here’s a have a look at how Coinmama works.
Getting Started
To use Coinmama, you first must confirm your eligibility for the platform. The firm operates in most international locations all over the world. However, Coinmama is just not at present obtainable within the states of New York or Hawaii.
If you might be eligible to open a Coinmama account, you’ll want to collect some personal data and documents earlier than you apply. All Coinmama buyers are required to supply personal data, together with:
- Full identify
- Phone number
- Email address
- Date of beginning
- Physical address
Additionally, it’s essential to submit a replica of your legitimate government-issued photograph ID (word that, for US residents, this should be a driver’s license, not a passport). You should additionally upload a selfie of you holding that ID.
Submitting this data to Coinmama makes you eligible for Verification Level 1. If you wish to improve your spending limits on Coinmama (extra on that in a bit), you might wish to apply for Verification Level 2 or 3. To achieve this, you’ll additionally want to supply:
- A second government-issued photograph ID
- A replica of a latest utility invoice or a latest bank assertion
- A accomplished KYC (Know Your Client) questionnaire
Opening an Account
To open an account, merely go to the corporate’s website – word that Coinmama doesn’t have a mobile app – and click on the button to enroll.
→ Visit now: www.Coinmama.com
You’ll be prompted to enter your personal data and confirm your electronic mail address. After, you’ll upload copies of your government-issued ID and take a selfie.
Once that’s arrange, your account should be verified earlier than you possibly can buy crypto. The verification course of can take wherever from quarter-hour to a couple days.
After your account is verified, you’ll want to attach it to an exterior crypto wallet as a result of Coinmama doesn’t offer wallet companies. So, you’ll must arrange a personal hot or cold wallet to make use of the platform.
Funding Options
One of the first features of Coinmama is its many account funding choices. The agency helps a number of different fee methods, together with:
- Fedwire Wire Transfer (USD)
- SWIFT Global Transfer (GBP)
- SWIFT Fast Payment Transfer (GBP)
- SEPA Transfer (EUR)
- SEPA Instant Transfer (EUR)
- Open Banking Transfer (GBP)
- Skrill (EUR)
- Credit and Debit Cards (Visa and Mastercard solely)
- Apple Pay
- Google Pay
- Crypto Transfers (BTC solely)
However, word that every of the corporate’s supported funding choices has completely different charges, minimal order sizes, and transaction speeds.
For instance, all bank transfers have a $250 minimal order dimension and some can take 5 business days to course of. Wire transfers have a $500 minimal. Finally, most different funding choices have a $100 minimal order dimension.
Cryptocurrencies Available on Coinmama
With Coinmama, you possibly can buy a number of widespread cash, together with:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Dogecoin (DOGE)
- Cardano (ADA)
- Litecoin (LTC)
- Ripple (XRP)
- Tezos (XTZ)
But understand that you at present can solely sell Bitcoin (BTC) on the platform. If you wish to sell some other cash, you’ll want to take action with a unique dealer or exchange.
Coinmama Features
Coinmama boasts a collection of features for the eager crypto trader. These are among the features you possibly can look ahead to for those who use the platform.
Trade Cryptocurrencies
Coinmama is primarily a spot to buy cryptocurrencies. However, Coinmama is just not a conventional exchange.
When you buy crypto from the corporate, you’re not trading with one other investor. Rather, you’re buying crypto immediately from Coinmama’s stock.
In addition to crypto purchases, Coinmama additionally permits you to sell Bitcoin in exchange for USD or EUR. As of the time of writing, the corporate doesn’t can help you sell different cryptocurrencies.
Instant Transactions
One of the key advantages of Coinmama is its super-fast transaction speeds. Since the agency sells its crypto property to buyers, it could possibly course of transactions as quickly as they’re confirmed.
This makes purchases on Coinmama a lot sooner than they’d in any other case be on an exchange the place patrons should be matched with sellers.
However, there are downsides to buying immediately from an organization like Coinmama. In explicit, Coinmama tends to have larger costs than different brokers as a result of it bases its coin costs on the XBX Index + 2%. This is completely different from exchanges the place you often pay the exchange’s market price plus a variety fee (which might be fairly small).
Loyalty Program
Coinmama affords a loyalty program that provides rewards to your crypto purchases. There are three loyalty ranges throughout the program:
- Crypto Curious – All accounts routinely qualify for this loyalty stage. There are not any reductions at this stage.
- Crypto Enthusiast – If you keep a cumulative buy amount of $5,000 in crypto over a rolling 90-day interval, it can save you as much as 12.5% off the price of your Coinmama orders.
- Crypto Believer – Investors with greater than $18,000 in crypto purchases over a rolling 90-day interval or a lifetime buy amount over $50,000 can save 25% off their crypto orders.
Do word that your loyalty program financial savings seem as a crypto bonus if you course of a buy order – not as a reduced price in your order.
→ Visit now: www.Coinmama.com
Business Program
For institutional buyers that wish to buy greater than $100,000 in crypto at a time, Coinmama affords a business program. This program consists of entry to:
- Personal Coinmama consultants and security specialists
- Compliance steerage to your company investments
- Discounted charges of two.5% for your complete service
Signing up for the business program requires an utility. So, contact the agency on to be taught extra about eligibility necessities and to open an account.
Multiple Payment Methods
Most crypto brokers and exchanges solely help a restricted number of funding choices. But, with Coinmama, you possibly can buy cash utilizing a slew of fee methods, together with:
- Bank transfers
- Wire transfers
- Credit and debit cards
- Apple Pay
- Google Pay
Coinmama’s inclusion of Apple Pay and Google Pay is especially groundbreaking. Coinmama was one of many first to help these fee choices, making it a pioneer in different crypto buying methods.
High Spending Limits
Coinmama affords very high spending limits. These spending limits are decided primarily based in your account verification stage and are as follows:
There is a Verification Level 4 obtainable for very energetic buyers. Contact the agency immediately for extra data on how to apply.
Coinmama Pricing & Fees
If there’s one space the place Coinmama doesn’t fairly impress, it’s by way of the platform’s complicated fee schedule. Here’s what that you must know:
Transaction Fees
All crypto buy orders at Coinmama are processed utilizing the coin’s present going rate on the XBX Index, plus a 2% fee.
Coinmama additionally expenses a fee fee. This fee fee varies primarily based in your loyalty stage and is as follows:
- Crypto Curious – 3.81%
- Crypto Enthusiast – 3.34%
- Crypto Believer – 2.86%
Keep in thoughts that you could be additionally must pay a network fee when transferring your cash to your personal crypto wallet.
The firm additionally expenses fee charges for Bitcoin sell orders primarily based in your loyalty ranges. These commissions are:
- Crypto Curious – 3.90%
- Crypto Enthusiast – 3.41%
- Crypto Believer – 2.93%
Payment Method Fees
Coinmama additionally expenses charges primarily based in your chosen fee technique. Currently, Coinmama doesn’t cost charges for bank or wire transfers. However, it expenses a 2.5% fee for Skrill payments and a 5% fee for credit cards, debit cards, Apple Pay, and Google Pay purchases.
→ Visit now: www.Coinmama.com
Coinmama Security & Insurance
When it involves security and insurance coverage, Coinmama is a bit of an outlier within the crypto dealer and exchange trade. That’s as a result of, whereas the agency affords encryption and two-factor authentication on all accounts, it by no means really shops your cryptocurrencies.
Since Coinmama doesn’t offer wallet companies, the security of your property is under your management. As such, anybody utilizing Coinmama must have a high quality crypto wallet.
However, we must always point out that Coinmama skilled a security seaside in 2019. During this breach, hackers gained entry to details about 1.4 million Coinmama buyers.
Nevertheless, Coinmama doesn’t retailer client crypto or any client fee methods, so no funds had been misplaced within the breach. But it’s one thing to remember earlier than opening an account.
Coinmama Customer Support
If you’ve a difficulty along with your Coinmama account, you possibly can shortly entry solutions to most typical questions on the agency’s detailed on-line assist pages. Additionally, the corporate affords email-based buyer help.
That being mentioned, Coinmama doesn’t have phone-based help. But it does offer expedited buyer service for accounts on the Enthusiast and Believer loyalty ranges.
→ Visit now: www.Coinmama.com
Coinmama Pros
- Wide range of supported international locations
- Opportunities for very high spending limits
- Supports many alternative fee choices
- Quick transaction processing speeds
- Instantly transfers bought cash to your personal wallet
- Available in most international locations
- Supports multiple fiat currencies
- No further charges on bank switch purchases
Coinmama Cons
- Very high transaction and trading charges
- Large minimal order sizes
- Requires photograph ID verification for all accounts
- Not obtainable in all 50 US states
- Can solely sell Bitcoin (BTC)
- No mobile app obtainable
Coinmama Alternatives
Not certain that Coinmama is best for you? Here are two Coinmama options to think about.
Coinbase
Coinbase is without doubt one of the world’s largest crypto exchanges. It helps trades of greater than 50 cryptocurrencies utilizing basic and superior trading terminals. Additionally, Coinbase affords multiple additional features, like crypto staking and a strategy to earn free crypto by watching movies.
→ Visit now: www.Coinbase.com
When in comparison with Coinmama, Coinbase’s main benefit is that it usually expenses decrease charges. That being mentioned, Coinbase has decrease limits than Coinmama and its transactions might be slower to course of.
Gemini
Gemini is a US-based crypto exchange that prioritizes security above all else. With Gemini, you possibly can commerce greater than 40 cryptocurrencies on both a basic or superior exchange. The agency additionally affords curiosity on crypto held in your account. Gemini additionally has a credit card that provides as much as 3% again in crypto rewards.
→ Visit now: www.Gemini.com
As is the case with Coinbase, charges on Gemini are usually decrease than with Coinmama. However, Gemini has a lot decrease deposit and trading limits than Coinmama and it’s solely obtainable in about 50 international locations.
Who Is Coinmama For?
Coinmama is a perfect platform for buyers that want a strategy to shortly buy crypto utilizing a range of fee methods. Since the agency doesn’t offer a wallet service, it’s additionally finest for merchants that have already got a personal wallet.
However, Coinmama’s charges are among the highest within the trade, so it’s solely appropriate for buyers which are keen to pay a premium for comfort. But Coinmama additionally affords very high trading limits, so it’s nice for buyers that wish to buy giant portions of digital property.
→ Visit now: www.Coinmama.com
Coinmama FAQ
Here are our solutions to a few of your mostly requested questions on Coinmama.
Is Coinmama Safe?
Coinmama is a widely known crypto dealer that locations a high emphasis on client safety. However, the agency by no means shops your fee details or your cryptocurrencies, so the safety of your digital property is dependent upon the security of your personal crypto wallet.
Where Is Coinmama Registered?
Coinmama is registered in multiple international locations under the identify Cmama Ltd. This is the daughter firm of New Bit Ventures Ltd, which is predicated in Israel. Additionally, Cmama Ltd. is headquartered in Ireland and is registered as a Money Service Business within the US.
