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Overall, Coinmama is a good place to skip mining and other complicated processes and simply buy or sell cryptocurrencies. The three-level Loyalty Program is a huge benefit to clients, as it can help offset some of the fees this vendor charges. With nine years of experience in the industry, Coinmama is a solid contender in the crypto industry. Coinmama sends your crypto within minutes after both your payment and wallet address have been confirmed. Most crypto currency brokerages can be intimidating especially for new investors. This is because they usually come with numerous statistics, charts, and graphs, which can make things, appear complex.
We’re proud of our content and guidance, and the information we provide is objective, independent, and free. With Coinmama, purchasing several popular cryptocurrencies is a manageable task. Here are the few steps we found while doing this review that make the crypto buying process easier on such a platform. Traders can buy Bitcoin whenever they want, worth up to 30,000 USD. The minimum amount of Bitcoins purchased on Coinmama is 60 USD or equivalent in EUR/AUD/CAD GBP/JPY.
Coinmama Review: A Beginner-Friendly Platform to Buy Crypto With a Credit Card
Because the issue that I had with an order that I made wrong and then I cancelled was solved promptly today. Because I got the possibility to receive the bitcoins or to receive the funds back. According to my wish after receiving these informations I got within approximately 20minutes my bitcoins ordered on my wallet.
The data breach was a serious reminder that malicious actors would continue their criminal endeavours, and having Coinmama already resist the theft of funds is very encouraging. It is paramount that you secure not only your account password but also avoid using the same email that you use when handling businesses unrelated to Bitcoin. Again, the company has grown into one of the most popular platforms to purchase Bitcoin and other cryptocurrencies with Visa or MasterCard. 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. Once you create your account, Coinmama will ask that you verify your account to prove your identity. The KYC/AML process includes uploading of your passport, national ID, or driver’s license.
How do we review cryptocurrency platforms?
Since orders go to a user’s own wallet, keeping that crypto safe is ultimately the responsibility of the user. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com https://www.tokenexus.com/how-to-make-money-with-bitcoin-the-most-effective-methods/ receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.
- While we suggest you have some base knowledge of crypto, Coinmama is not a vendor that is unfriendly to newcomers.
- I was having issues with my login details, I wasn’t able to access my account but Mr Carl one of the customer service representatives stepped and helped me rectify this issue immediately.
- After you click the confirmation link, the final steps to create your account include uploading a valid ID and a selfie to verify your identity.
- You can sell Bitcoin (the only coin supported for selling at the time of writing) and have the cash sent to your SEPA bank account.
- We use dedicated people and clever technology to safeguard our platform.
- Our estimates are based on past market performance, and past performance is not a guarantee of future performance.
For this reason, among other security measures, Coinmama is safe for anyone looking to quickly buy cryptocurrencies. In 2019 still, Coinmama revealed it would now facilitate the selling of Bitcoin Coinmama Review as well. While you’ll need to get a crypto wallet from another company, the ability to buy and sell seamlessly and securely through Coinmama’s platform makes crypto trading easy and safe.
Coinmama Withdrawal Fee
As such, Coinmama is a secure platform but may not be the best option for privacy-conscious individuals. It is regulated as a Money Service Business (MSB) by FinCEN in the United States, meaning that you have to submit personal information in order to engage in transactions. On the other hand, complying with regulators makes Coinmama a legit and trustworthy crypto broker.
Our experts also factor in their hands-on testing experience into broker ratings. Coinmama offers its own crypto wallet, capable of holding BTC and ETH. However, the service for buying and selling cryptocurrencies does not require a Coinmama Wallet, you can simply link up another wallet.
Conclusion: Is Coinmama Right For You?
But Coinmama might offer a solution for those who are worried about the security of their coins. Coinmama doesn’t hold user coins, so there is nothing to steal. Plus, it allows users to buy cryptocurrency with a debit card, credit card, Apple Pay, or bank transfer, with instant coin delivery.
- While the ability to use credit or debit cards to buy crypto is convenient, it’s not cheap.
- Whether you’re investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand.
- The cryptocurrency brokerage has been around since 2013 and has a good reputation.
- You can enter the VIP level with special identification and blow off the roof at the maximum purchasing power.
- Another thing is that Coinmama does not allow trades between sellers and buyers so you won’t be exchanging one cryptocurrency for another.
- Coinmama Ltd is registered as a money services business with FinCEN.