Coinmama Review

Coinmama offers discounts on commissions through its loyalty program. The first is the default level, and the next two have spending requirements. In addition to commission discounts, they also get you faster support.

Coinmama Review

Secondly, it’s been around since 2013, that’s a very long time and it’s earned the veteran status on Tradingbrowser. Thirdly, millions of investors have used and are still using the platform to invest in cryptocurrency. So, with regulation and a very good track record, plus a good reputation, we think thisplatform is a very safe cryptocurrency exchange to use. This exchange is best suited for cryptocurrency investors who are looking for a safe place to use fiat currencies to buy bitcoin or other major altcoins in a safe environment. Also, if you are new to the blockchain and cryptocurrency world you will find Coinmama very easy to use and it’s very well-suited for beginner investors with little or no experience. But as noted, Coinmama does not store its customers’ credit card information, and the hackers were only able to obtain email addresses.

Steps to Sign Up to Coinmama

The final output produces star ratings from poor (one star) to excellent (five stars). Regardless of your choice, understand that investing in cryptocurrencies like bitcoin is highly speculative and known for its volatility. It’s wise to never invest any more than you can afford to lose. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page.

  • Coinmama has been in operation as a cryptocurrency exchange for several years now and has proven to be a safe platform for buying Bitcoin and other cryptocurrencies.
  • It allows traders to buy only nine cryptocurrencies simultaneously, including two leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
  • For beginners, this is an excellent option for buying your first Bitcoin.
  • However, the service for buying and selling cryptocurrencies does not require a Coinmama Wallet, you can simply link up another wallet.
  • Most traders will only ever need to get verified for level 1 and that level requires the least personal information.
  • Applicable limits are reset based on your 24-hour or 30-day spending and count both buy and sell transactions.

If you are paying with a credit card, you are limited to 20,000 USD/EUR per month. If buying with a credit card, there is an additional 5% fee assessed by Simplex, Coinmama’s credit card processor. Coinmama offers a regular account and a personalised over-the-counter investing account. Most clients will use the standard account, giving access to all 18 coins and the loyalty program.

SEPA

Yes, this cryptocurrency exchange is a veteran platform with a very good reputation as being safe to use. Also, it is regulated in the United States as a Money Service Business. The reputation and safety of the Coinmama exchange continue to grow and set standards of practice for all competitors. If you are interested in joining Coinmama for your crypto purchases, set up an offline wallet—preferably Coinmama Review one of the top hardware wallets—before you buy the coins. Coinmama implements transaction limits on a cyclical basis, and they vary depending on the regulations, the user’s preferred payment method, and level of verification. However, and this is part of the reason the exchange has a good reputation, the company stores its crypto holdings in secure cold wallets from where users can buy.

The Coinmama commission on a $1,000 sale is $55 and 15% of that commission goes to the affiliate. What’s cool about the Coinmama loyalty program is that everyone is automatically enrolled and you don’t have to purchase anything to get involved. 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.

Does Coinmama require ID?

Here, you can view extra information on each crypto, including whale concentration, 30-day volatility, market cap, breakeven prices and Bitcoin corrections. The same data is also provided for a wide range of coins not offered by the company. Coinmama is a global, online cryptocurrency marketplace based in Dublin, Ireland that was founded in 2013. Co-CEOs and founders Nimrod and Laurence built https://www.tokenexus.com/market-depth-chart-determine-liquidity/ the company to make buying, selling and holding cryptocurrencies as easy as possible for the masses. All in all, Coinmama provides a simple and convenient way to buy and sell crypto directly with your private wallet. You can easily buy and sell bitcoin and other supported coins, as well as recommend this service for your newbie friends looking for a simple yet secure way to accumulate crypto.

Coinmama Review

This saves a lot of time for the clients as they don’t have to look for buyers to sell Bitcoin. The Coinmama exchange is also making serious efforts to reduce brokerage fees as much as possible. In this Coinmama review, all details regarding the exchange will be discussed to help traders decide whether to use this exchange to sell or buy cryptocurrencies of their choice. This is what Coinmama does best, help investors invest in small or large amounts of cryptocurrencies. Being registered as a Money Services Business with FinCEN gives the exchange the extra credibility we are looking for when recommending platforms to traders and investors.

Besides that, Coinmama is a great option for beginners who want to learn how to buy and store crypto safely and securely. Those in the Curious tier will pay a 3.9% fee per buy or sell transaction. Compared with other cryptocurrency exchanges, Coinmama’s trading fees are relatively high. Users will also pay spread fees, called “rates” on Coinmama, and may be subject to other fees depending on the payment method they use. The company focuses on customer experience and customer service so that transactions are super quick (user verification takes around 30 minutes). Coinmama is a cryptocurrency exchange that allows users to buy and sell a variety of digital assets with ease.

The exchange pays out the commissions once every month after you hit $100 from the time of the last payout. It features a clean interface without all the graphs and charts that may disorient and discourage new users. It has such an appeal that continues to make the exchange attractive to new and seasoned users seven years since its inception. Users need to have their own wallets set up and only use their accounts to directly buy or sell to the exchange.