In terms of digital security, Coinmama is the closest to perfect. It means the US Department of Treasury can ensure that people do not use Coinmama for financial crimes, such as money laundering or terrorist financing. Thanks for taking the time out of your busy schedule to leave some feedback. Unfortaunely, sometimes delays can happen, but we really appreciate that you trusted us to do the right thing and work until your order was processed properly. Also, they are safe because I have not had any problems or issues with any transactions up to this point. There is constantly new things to understand and keep up to date with, which can be overwhelming.

Coinmama is known especially for their execution speed, including the speed of transactions. You can buy or sell as much as $30,000 at any given time, and you won’t feel any delay . Higher resolution and extensive coverage of the entirety https://broker-review.org/ of your documents would certainly help hasten the process. It shouldn’t take too long, but some exchanges can’t verify their users for weeks or even months on end. It should take long on Coinmama, but the exact length is unknowable.

Coinmama Review – What is Coinmama?

However, it seems that lately they have optimized their service to offer a more competitive service. Changelly takes 5% on top of the existing 5% payment processor fee. The total is 0.9% cheaper coinmama exchange review than Coinmama’s total fee (10.9%). Also, it seems that the exchange rates Changelly uses are cheaper than Coinmama’s, so overall you can save up to around 3% by using their service.

However, it has relatively high fees and users looking for expanded product offerings such as crypto rewards credit cards or crypto-backed loans will need to look elsewhere. Coinmama is an established, straightforward cryptocurrency exchange. It supports a small number of digital assets and doesn’t offer a dedicated crypto wallet. Those looking for a crypto exchange with lots of tools and products may want to look elsewhere. Coinmama supports Visa and Mastercard credit or debit cards via the Simplex payment system.

How to Get Coinmama

Crypto Believer – At this level, you get to save 25% on the final crypto price. Nevertheless, this will only happen if you have been buying digital assets via Coinmama for at least a month. Moreover, you only get to earn the charge reduction if you accumulate a purchase amount of $18,000 over the 3 months or a $50, 000-lifetime purchase amount.

The plaform keeps users’ personal data on secured servers, employing high-level encryption and authentication measures to keep funds and information safe. For SWIFT bank transfers, there is an extra processing fee of 20 GBP for orders below 1000 USD. Banks may charge a separate fee for creating the bank transfer.

After the payment confirmation, Coinmama issues your selected cryptocurrency. An important point to note is that Coinmama locks your currency’s price the moment you submit your order. The market is volatile, and prices keep differing every instant. On all the above tools, every five minutes, the data gets updated. Price calculation is the average of the highest volume exchanges. The market cap calculation is done by multiplying the total supply of the cryptocurrency with the price.

On a similar note, we saw that the crypto exchange is more suitable for those who are into high-volume trading. You may have to go through an advanced verification process to enjoy all the features. According to the official Coinmama website, Coinmama allows you to purchase only the following popular cryptocurrencies. Now, we will check the volume of cryptocurrency assets you can buy and sell via Coinmama. For instance, if you have purchased assets worth less than $5,000 within 90 days, you belong to Crypto Curious. If you have spent over $5,000, you become Crypto Enthusiast, and if you break the $18,000 within 90 days, you become Crypto Believer.

Trustworthy company

Derivatives exchanges also commonly have leverage which allows crypto traders to use margin to take out a larger position. The most famous crypto derivatives exchanges is Bitmex which offers up to 100x leverage. When it comes to cryptocurrency exchanges there are several different types.

• As soon as you have a verified account, you can use the amount to buy and sell Bitcoin.
• As you move higher up the ladder, Coinmama reduces the withdrawal fees.
• From our perspective, Coinmama’s activities are an industry standard and are in line with privacy laws across major jurisdictions such as the EU and the US.
• Instead, Coinmama accepts payment directly at the time of purchase.
• In this Coinmama review, we will explore security further in the sections below.

In our Coinmama review, we will be showing you how to create and verify an account on the exchange. You can only access the Coinmama trading interface via a web browser page on your desktop. There is currently no mobile app available that we can add to our Coinmama review. “We are looking forward to making Coinmama your place to sell Bitcoin as well,” said the company. Customers who reach the Crypto Believer stage will see 25% off the transaction fee on any purchase they make. Keep in mind, too, that it’s possible to drop back down to the Crypto Curious level if a user fails to maintain the purchase requirement.

Advantages of Coinmama Exchange

The interface does not feature any trading tools, such as charts and price notifications, so this platform is not a good option for advanced traders. Since Coinmama offers complete control over your purchases, this may be the perfect platform to start building your crypto supply or to add to what you have. When it comes to buying or selling cryptocurrencies, there are minimums to consider.

At the Crypto Enthusiast stage, users will see a 12.5% sales fee reduction and get placed in the priority queue for the customer support team. The team is well-equipped to help and can field a number of support questions. These include information and troubleshooting on how to buy and sell, account management, help with the verification process, and how to link up a wallet. Their website uses a secure encryption service to keep personal information safe, and no credit card information is stored anywhere in their database. Log in to your account and initiate the sale by clicking on the “Sell” button and choosing the amount of BTC you wish to exchange. After that, enter your bank account details (including the International Bank Account Number – IBAN), and provide the required information to proceed with the trade.

However, their aim is to provide an online marketplace where it is fast and simple to buy and sell cryptocurrency, and they have fulfilled that goal. Here are the top 3 reasons why you should consider Coinmama. Even if Coinmama displays its rates in USD, EUR, GBP, CAD, and AUD, they accept all fiat currencies. From this perspective, Coinmama is one of the few crypto exchanges out there that offers the widest range of fiat options. Toted not as a trading platform, but as a cryptocurrency exchange, customers simply select how many of which cryptocurrencies (Bitcoin, Ethereum, etc.) they want to buy.

Once the coins are sent to Coinmama, the exchange will transfer fiat to your bank account using SEPA. 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. If you are a seasoned crypto trader, Coinmama’s main appeal will be the instant delivery of purchased coins into your account. You can also sell BTC and receive cash via SEPA transfer if you are living within the EU. Additionally, Coinmama requires that before you buy any crypto on the platform, you have a wallet address that can receive these assets. Coinmama has a relatively high fee of 5% for using a credit card.

There’s also a sell fee of up to 1.9% based directly on your loyalty level. Users who want to purchase cryptocurrency on the exchange pay market value plus 2% for their purchases. That’s a total fee of 5.9% for the use of Coinmama’s services. Customers can buy crypto with a credit card, debit card, Apple Pay, or bank transfer. Coinmama is a reputable cryptocurrency broker that makes it easy for anyone to buy Bitcoin and other cryptocurrencies. If you are looking to have quick access to crypto and send it to your own hardware wallet or another exchange-hosted wallet for trading, Coinmama is for you.