Type it to access the exchange dashboard. Open your email inbox and find the verification code sent by the Coinmama exchange. The exchange doesn’t offer access to Futures markets. Coinmama is a half centralized and half decentralized platform focusing on Crypto OTC market. The platform boasts supporting a wide selection of 500+ digital assets for swapping. In this Coinmama review, we must mention that the trading commissions are higher than the industry average.
- When you use Coinmama, your crypto goes straight to your wallet, and your fiat is sent to your bank account.
- It allows quick, direct purchases of major cryptocurrencies with instant delivery to your own wallet, supporting various payment methods including credit cards, bank transfers, and digital wallets.
- For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website.
- In this Coinmama review, we cover the exchange, including how it works, its best features, pros and cons, transaction fees, and a guide to registering, buying, and selling crypto assets.
This makes it accessible for users who want broad exposure to crypto pairs in a decentralized manner. However, through its separate Swaps feature, users can swap 500+ tokens without needing a registered account or completing KYC. The platform supports Netteler, Skrill, and SWIFT as payment methods.
What countries or regions cannot access Coinmama services?
Once the address is provided, the user can decide which payment method works for them and complete the transaction. While the platform has found itself in hot water for past security breaches, the Coinmama team has worked hard to improve its security. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation. © BestCryptoExchanges.com – an independent crypto portal dedicated to making blockchain knowledge accessible to everyone. No Coinmama operates as a retailer for crypto assets, not a custody service. These platforms accept cards, support bank transfers, hold order books, and list hundreds of assets.
It’s actually one of the very first places I ever bought crypto from back in 2018. On Reddit, users were debating whether Coinmama is a scam or legit, and this user commented that Coinmama is not a scam. We found mixed reviews about the platform, but Coinmama’s customer service rating is generally positive. We searched an online social networking platform for real-time user reviews and only found reviews older than a year. Coinmama also offers a live chat feature, allowing users to get real-time support from the customer service team.
Supported Fiat Currencies
- This is somewhat expensive when you take into account that eToro provides free deposits for US-based clients.
- The limited list makes it easier for beginners to focus on leading projects while removing many of the obscure tokens found on other crypto exchanges.
- A security incident in 2019 exposed hashed passwords and email addresses; the firm reacted by forcing a global password reset and adding compulsory two factor authentication for every account.
- Coinmama recommends ZenGo and Exodus which are hot wallets that give you access to your digital currencies and are stored either on your PC or online.
Coinmama offers an Instant Buy and Sell option that provides fast processing and immediate delivery of cryptocurrencies to users’ wallets. Finally, after selecting a payment method (credit/debit card or bank transfer) and completing the payment, the purchased cryptocurrency will be sent to your external wallet immediately upon confirmation of the payment and wallet address. After verification, users select the cryptocurrency they wish to buy and provide a third-party wallet address to which the crypto will be sent. Regarding reputation, Coinmama has generally positive user feedback for quick transactions and ease of use, though some users note relatively high fees compared to other exchanges.
Coinmama Other Products and Services
With this calculator, users can quickly estimate how much Bitcoin, Ethereum, or other popular cryptocurrencies they can purchase based on the amount of fiat currency they wish to spend. When comparing Coinmama vs Coinbase, both platforms cater to crypto users but differ in features, pricing, and supported services. Yes, Coinmama is considered a safe and trustworthy cryptocurrency exchange. However, the user also noted that Coinmama charges higher fees than many other exchanges. When you use Coinmama, your crypto goes straight to your wallet, and your fiat is sent to your bank account.
Michael Graw is a freelance journalist who covers finance, trading, and technology. Furthermore, eToro users also benefit from tight spreads that start from just 0.75%. Copy trading allows you to copy the trades of other experienced eToro investors with the click of a button.
Coinmama Express Fee
The simplistic nature of purchasing and selling directly from the provider reinforces its simple and user-friendly layout and design. Coinmama recommends ZenGo and Exodus which are hot wallets that give you access to your digital currencies and are stored either on your PC or online. The transaction limits are ongoing limitations which means that they apply to any specific 30-day or 24-hour period and are subject to your trading volumes. Coinmama’s transaction limits vary depending on your verification level, payment method, and regulations. For example, if you have a budget of $2000 simply divide it by 1.05, and therefore the amount you can spend when selecting how much crypto to purchase would be $1,904.76.
Transaction Fee
While it doesn’t allow people to trade cryptocurrency pairs, the exchange is worth considering for anyone looking to spot-buy BTC, ETH, XRP, and a handful of other popular cryptos. The Coinmama exchange is one of the most well-respected names in the cryptocurrency industry and is now available in over 188 countries. However, the platform’s lack of features and high fees could cause issues for some. BestCryptoExchanges.com do not recommend that coinmama exchange review you buy, sell, or hold any cryptocurrency. Buyers seeking lower fees or more coins can open accounts on Coinbase Kraken or Binance.
How do you purchase Bitcoin instantly with a credit or debit card on Coinmama?
For quick answers or guidance, users can also check out the extensive knowledge base at the Coinmama Help Center. The primary method of contact is through their support, where users can browse FAQs or submit a request directly to the support team. Coinmama offers reliable and responsive customer support to help users with any questions or issues they may face.
Coinmama Fees
This charge is supplemented to your total order depending on the type of card payment you use. The prices posted on the site are based on the TradeBlock XBX index plus a standard deviation of 2% as well as the provider’s commission fee of anything up to 3.90%. Fees charged on buy orders are based on your Coinmama loyalty level and the method of payment. Debit and credit card orders can be made in any of the supported fiat currencies, but, SEPA bank transfer orders can only be made in Euros and from an EU-based bank account, whereas purchases made with SWIFT bank transfers can only be made in British pounds. To start purchasing with any of the aforementioned fiat currencies just enter the amount you want to buy and select the crypto you want to purchase and continue.
Even a service created for quick card purchases comes with drawbacks that can eat into profits or slow the selling process. No customer balances were lost, and since that event the platform records zero confirmed breaches. A security incident in 2019 exposed hashed passwords and email addresses; the firm reacted by forcing a global password reset and adding compulsory two factor authentication for every account.
Multiple Payment Methods
With a Bachelor of Education, she brings a structured and insightful approach to her work, making complex crypto concepts more accessible to readers. The support team is customer-focused and responsive, with some users reporting response times as fast as within 30 minutes, although the timeframe for verification and complex issues is up to 24 hours. That said, different payment methods have distinct per-transaction and daily/monthly limits, such as credit cards maxing out at $20,000 per transaction and bank transfers maxing out at $1,000,000 monthly. In essence, this 2% spread fee is a standard industry practice to protect brokers from volatility and to manage liquidity risks.
Coinmama Review 2025: Fees, Platform, App, Safety & More
Unlike Coinmama, eToro has a crypto wallet that will save you the hassle of having to research and find a third-party wallet. 67% of retail investor accounts lose money when trading CFDs with this provider. After careful consideration and extensive research here at TradingPlatforms, we concluded that the free trading platform eToro secures the number one spot on our list of top brokers for 2025.
Users must pay the full amount of the crypto purchase upfront – there are no leveraged funds involved, so no margin fees apply. It’s a straightforward buy-and-sell platform, meaning all transactions are made with fully funded accounts. The exact fee depends on your loyalty level – users who trade more frequently can receive lower fees. Coinmama operates as a crypto broker, allowing users to buy and sell digital currencies directly without interacting with other traders. This article will also delve into Coinmama pros and cons, discuss Coinmama user experience, and provide insights into its features, fees, and how it compares to other exchanges. CryptoNinjas is a global news and research portal that supplies market and industry information on the cryptocurrency space, bitcoin, blockchains.
