For anyone who wants to use a credit card or debit card to buy Bitcoin there is a full guide available on Coinmama’s website. While some customers have complained about this verification process, it is an important part of Coinmama’s broader commitment to security. It’s also standard practice for any exchange that complies with Anti-Money Laundering laws. When you buy, your coins are transferred to your wallet within the hour. When you sell, the USD or EUR cash is deposited directly into your bank account.
As for the fees, CoinMama’s charges vary based on the type of transaction and the user’s loyalty level. The general fee for trading and transactions is based on the market rate plus up to 3.9% for purchases and up to 0.99% https://www.tokenexus.com/ for sales. Additional fees may apply, such as a 5% fee for credit or debit card transactions. Coinmama offers a loyalty program that provides reduced fees for users who make a certain amount of purchases over 90 days.
Coinmama
It’s an excellent choice for beginner traders and ever-so-experienced ones too. Despite its great reputation and excellent customer support, its high fees may surprise many. While Coinmama does support a number of payment methods the one thing we’d like to see more of is a higher number of cryptocurrencies available for trade on their platform. Hopefully in the future Coinmama will include more coins so that traders have more options to choose from. For traders who prioritize keeping their payment data secure and minimizing their exposure to hackers or scams, Coinmama is one of the best cryptocurrency exchanges you could choose. Coinmama is a non-custodial platform, which means that it does not hold user coins on its platform, and hence is more secure than most centralized custodial exchanges.
Please click on the green ‘Go to site’ button above if you wish to be redirected to the official site of Coinmam and process your BTC purchase from there. The support is typically quick to respond, and you should receive your answers within several minutes. Sell orders are subject to the same XBX Index average + 2% standard deviation fee + Coinmama’s sell fee of 0.1%-0.9%. These include Iran, North Korea, Cuba, Syria, and the Ukrainian/Russian Crimea region.
Great Service!
Learn Profitable Crypto Trading and receive our free resources to master automated bot 🤖 trading strategies. If you don’t have a safe Bitcoin or Ethereum wallet, pick one from our list of Ethereum wallets and Bitcoin wallets. And that my friends, is where services like Coinmama come to the rescue, bringing something new to the table.
For those looking to purchase or sell cryptocurrencies, Coinmama will likely be a great fit. However, if you’re interested in a range of financial products and services on one platform, BlockFi may be the better option. Understanding how to transfer funds from Coinmama to a crypto wallet is a key component to using the platform. While the process of transferring funds is relatively simple, those who aren’t familiar with it may be more inclined to look at different exchanges that offer built-in wallets. Coinmama customers have mixed feedback about this exchange, though it has a relatively high rating of 4.1 out of five stars across 446 Trustpilot reviews. Several users have positive things to say about Coinmama’s customer service.
Final Review: Is Coinmama Worth It?
The platform allows users to purchase crypto with fiat money. Users can either make purchases by credit or debit card or via fund transfers. You’ll pay additional fees on each transaction of up to 3.9% on buy transactions and up to 0.9% on sell transactions.
- Coinmama supports several payment methods, including credit or debit cards, bank transfers, Apple Pay, and Google Pay.
- It offers two-factor authentication (2FA) to prevent unauthorized account access.
- After you enter your personal wallet address, you will be directed to a page where you will be asked to select the multiple payment options you prefer.
- WOW…couldn’t you…coinmama..have mentioned all of this beforehand?
Credit and debit card buy orders with a locked rate, and instant delivery will cost you an additional 5% payment processing fee. Coinmama is GDPR compliant, and all personal information and documentation is encrypted. Coinmama Coinmama Review does not store credit or debit card details on the website or servers. Comparing Coinbase with Coinmama is tricky because they’re different beasts. Coinbase has an excellent reputation but has a few negative user reviews.
You either love or hate them, and there would be little point as your cryptos aren’t on the Coinmama system. They are in your crypto wallet, which you can probably download to your mobile. Once the payment details are accepted, the Bitcoin (BTC) is immediately sent to your wallet address. If, for whatever reason, the order aborts, Coinmama reverses the money into your bank account within 48 hours. Coinmama charges a spread, a commission, and an additional transaction fee for certain payment methods.
