If you sell bitcoin to the exchange, Coinmama will put what you receive in your bank account as fiat currency. Coinmama takes pride in offering one of the most responsive and accessible customer support teams. This is notable because customer service can be a weak point in a lot of fintech services, especially trading platforms Coinmama Review and crypto exchanges like Coinmama. Credit/debit cards, Apple Pay, Google Pay, and using a prepaid card to buy Bitcoin incur a 4.99% ‘express fee’ for fixed-rate instant purchases. The final trade fee is displayed before the transaction is confirmed, making it simple for users to see a cost breakdown before buying.
Table of Contents
Another bonus is the low minimum order value of only $30.00. The Coinmama website would benefit from adding more details, such as transaction fees. However, it is easy for new users to open an account and start buying cryptocurrencies without the hassle of tackling reams of information.
Coinmama Review: Disadvantages
- CoinMama is a global cryptocurrency exchange that supports purchases via debit or credit card, Apple Pay, Google Pay, or bank transfer.
- 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.
- Coinmama’s user interface is straightforward and intuitive, which makes it accessible for both new and experienced users.
- First, it allows Coinmama to make a higher profit on each purchase.
- This allows users to be able to take advantage of advantageous price movements.
All you have to do is open and verify your account, enter your card details and choose how many coins you want to buy. No previous knowledge of trading is required to purchase cryptocurrency from Coinmama. Unlike many other crypto exchanges, you cannot trade crypto with Coinmama. There are no staking opportunities, and Coinmama does not have a mobile app or a crypto wallet.
- If you’re looking for a platform where you can trade and sell more coins, you should check out Binance.
- Keep in mind that you’ll need to at least cover the fee cost to break even when selling your cryptocurrencies.
- You can learn more about him on the About Page or on his personal site RobertFarrington.com.
- It provides users with a platform to purchase Bitcoin and Ethereum using credit and debit cards.
- Coinbase is a good option for beginning cryptocurrency investors.
- If we’re going to nitpick a little, Coinmama could be more transparent concerning security and protection for its customers.
Financial Intelligence for Cryptocurrencies
Coinmama allows its customers to exchange fiat currency such as dollars or euros for cryptocurrency. It was founded in 2013 and is registered in Slovakia but it was recently acquired by Wellfield, a German blockchain and finance technology company. Coinmama has over 2.4 million customers spread out across 188 countries. 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.
The Affiliate Program
- Our partners cannot pay us to guarantee favorable reviews of their products or services.
- It’s a comprehensive database of explainers and resources to help you learn more about how Coinmama’s exchange works as well as how cryptocurrency works more broadly.
- Therefore, once purchased, users will need to create an appropriate wallet to which the exchange can send their cryptocurrency once purchased.
- If you want to sell another asset, you’ll need to use a different exchange.
- Coinmama is excellent for beginners because it is easy to use.
- It may seem inconvenient that Coinmama doesn’t provide an online wallet.
Trading platforms have a lot of tools and it is an information overload for anyone new. So it is best to stick to an easy exchange instead like Coinmama. Users that wish to transfer currency to another person’s wallet should check the procedure for doing so through their own wallet provider.
The exact fee will depend on the number of coins you want to buy, and this seems to change without notice. Before you can even get started trading on Coinmama, you have to go through the rigorous verification process (which usually involves providing proof of identification). The reason for this is Coinmama’s commitment to certifications and compliance with regulations and insurers. Learn more about what the platform offers and how the service holds up to its competitors in our Coinmama review. The Coin Bureau Editorial Team are your dedicated guides through the dynamic world of cryptocurrency. With a passion for educating the masses on blockchain technology and a commitment to unbiased, shill-free content, we unravel the complexities of the industry through in-depth research.
