At the final stage, you will be asked to enter your debit or credit card details, as well as your Bitcoin or Ethereum wallet address. 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. You will need to get a crypto wallet from a third-party provider in order to receive the coins you purchase from Coinmama. It provides a really thorough and easy-to-follow guide in their help center to show you where to find a no-fee, secure crypto wallet to store the coins you buy from Coinmama. Coinmama is a simple-to-use exchange that enables users to purchase 16 cryptocurrencies using various payment methods.

• She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University.
• 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 is really designed for international users who wants a fast and hassle-free way to purchase cryptocurrency.
• However, it is good to note Coinmama have beefed up their security since the incident.
• The most famous crypto derivatives exchanges is Bitmex which offers up to 100x leverage.
• Coinmama is a regulated exchange that holds no user assets.

Coinmama Review: Fees

Coinmama does provide users with the QR code and download link for ZenGo in case you do not have any crypto wallets. Since the early years, Coinmama has continued to add cryptos to its offering not to mention alternative payment methods. Launched back in 2013, Coinmama is registered in Slovakia, while owners New Bit Ventures are based in Israel.

How to Use Coinmama to Buy Cryptocurrencies

There are plenty of articles available via the help center to assist users in navigating and understanding the processes. In order to contact customer support, click the “Help” icon that is located at the bottom right of your Coinmama page. Do note that there is a minimum purchase amount of USD50 equivalent. You will also need to enter your country of residence and provide your address and phone number.

Does Coinmama sell Dogecoin?

If you currently don’t own any cryptocurrency then the easiest way to buy it is to use a debit or credit card, which is made simple at Coinmama. For more intensive trading (buying more than $15,000 worth of crypto per month), you will need to supply additional verification documents. There are 2 additional tiers of trading activity, based on how much crypto you buy per day or per month. You don’t have to go through the verification process for those additional tiers until you decide you want to trade more than what the first level allows.

• However, as I explained earlier in my Coinmama review, Coinmama is a broker exchange which means that you are actually buying directly from them with fiat money.
• Some other companies don’t even bother following up at all in the public sphere.
• He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO.
• I’d like to know how much truth in all the negative feedbacks I’m seeing here.
• The basic transaction fee for bitcoin is based on the TradeBlock Bitcoin Price Index (XBX), which offers an average market rate based on known market providers.
• Whichever channel you use, you can expect an answer within 24 hours.
• Instead, the procedure is that once users have registered (and regardless of whether or not they have verified their identity).

Coinmama KYC Verification

Before buying cryptocurrency on Coinmama, you will need a crypto wallet supporting the coin of your choice. Coinmama is an established crypto exchange based in Ireland. Nimrod Gruber, Iian Schuster and Laurence Newman founded Coinmama in 2013. The platform has a small number of popular cryptocurrencies available, notably Coinmama Review established cryptos like Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and stablecoins USDC and USDT. Coinmama was established in 2013 and has served over three million customers around the world. The company is headquartered in Ireland, and it was founded by Nimrod Gruber, Laurence Newman, and Ilan Schuster.

Not a great experience but the customer service made up for that.

It’s uncommon to find a cryptocurrency exchange with rave reviews, but Coinmama succeeds where others fail, proving a solid commitment to its users. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC, a member of FINRA and SIPC and a wholly-owned subsidiary of Robinhood Markets, Inc. Cryptocurrency trading offered through Robinhood Crypto LLC. When you place a buy order, you need to provide a wallet address to receive the cryptocurrency.

How do I withdraw money from Coinmama?

But we do have to make money to pay our team and keep this website running! The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). Coinmama is a user-friendly crypto exchange platform supporting the buying and selling of cryptos.

Instead, you are simply buying and selling them directly from/to Coinmama. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date.