According to the findings of our investigation, the fees required to use Coinmama are the service’s primary drawback. Traders often choose to quit Coinmama and join other exchanges where the fees are cheaper since Coinmama’s fees are greater than those of other exchanges. When making any form of purchase, customers are required to pass one of three Coinmama verification steps before being allowed to complete the transaction. After each step of verification, the maximum number of messages that may be sent increases. This article serves as your compass for navigating the complex terrain of cryptocurrency listings, providing you with the insights needed to make well-informed decisions for your digital assets. Cryptology.com is ranked the 4th safest crypto exchange globally, protecting your data and assets.
- If you’re planning to invest in cryptocurrency, Coinmama costs too much to be a good option.
- The Coinmama Wallet also has instant transactions, 24/7 customer support and an app available for iOS and Google Play.
- If you need to contact them outside of these hours, you can either send an email, raise a support ticket or even contact them on Facebook!
- Only a few countries and several territories are restricted, such as Hawaii and New York.
- Not only this, but you also have lots of different options such as market orders and kill-or-fill orders.
- After then, it is necessary for them to protect their login credentials by using a robust password.
How Coinmama works
Users who make $5,000 in purchases over 90 days get their sales fee reduced by 12.5%; users who purchase $18,000 over 90 days or a lifetime purchase amount above $50,000 get 25% off their sales fee. Market rate plus up to 3.9% for users to buy; market rate plus 0.99% for users to sell. Coinmama was one of the first crypto exchanges created and remains a reliable way to invest in and store crypto and other digital currency. As a financial service, Coinmama is committed to the highest security and privacy standards.
Is your cryptocurrency safe with Coinmama?
In order to contact customer support, click the “Help” icon that is located at the bottom right of your Coinmama page. Users can either purchase cryptos by way of packages from the “Buy” page or purchase specific amounts. Simply register and direct referrals to the Coinmama site with your customized referral link. This can be located under the “Marketing Tools” tab in your Coinmama account. Lastly, in our Coinmama review, we would like to present a 360-degree analysis of what we think about the Coinmama services.
Conclusion – Is Coinmama legit and safe?
Coinmama supports the purchasing of cryptos and the sale of Bitcoin. Case studies carried out by commentators have suggested that it users should add an additional 10% in fees when transacting through Coinmama. In comparison to its rivals, Coinmama’s transaction fees are quite high, with a 5.50% fee paid to Coinmama per transaction. This fee is included in the Bitcoin or Ethereum rate that is shown on Coinmama’s website. The exchange also features a comprehensive knowledge base on their website, which provides answers to the most common queries.
Coinmama is a straightforward exchange where you can buy several cryptocurrencies and sell Bitcoin. Accepted payment methods include credit and debit cards, Apple Pay, Google Pay, and ACH transfers. U.S. users have two payment options, both of which have limitations. Trades funded by SWIFT bank transfer don’t have a fee, but there is a $250 minimum. Your minimum for your first order drops to $30 if you pay with credit card, debit card, Apple Pay or Google Pay, but you’ll be charged a 4.99% fee, and consecutive order minimums go back up to $50.
- Overall, Coinmama is a safe place to buy BTC, ETH, LTC, BCH, ETC, XRP, QTUM, or ADA when many exchanges are down due to the surge in demand.
- BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.
- These restrictions, however, vary depending on the kind of account the customer has.
- As mentioned at the beginning of our Coinmama review, users can now also sell their Bitcoin to Coinmama, but this feature is currently limited to those of the 37 countries of the SEPA region.
- In addition to these features, Coinmama users are required to verify their identity by providing a driver’s license, passport, or another valid government-issued ID.
- For instance, there’s a minimum of $50 to make a Bitcoin (BTC) purchase and $760 to make a Chainlink (LINK) purchase.
Depending on the account verification levels, Coinmama provides surprisingly high transaction limits. It gives monthly buying and selling limits of $15,000, $50,000, and $100,000 in level 1, level 2, and level 3, respectively. Once Coinmama confirms Coinmama Review payment, your newly purchased tokens will be on the way to your secure crypto wallet and should usually arrive within minutes. Before buying cryptocurrency on Coinmama, you will need a crypto wallet supporting the coin of your choice.