Coinmama Supported Coins

Also, there are over 2 million crypto investors over the world who have trusted Coinmama with their exchanges. Investing in cryptocurrencies like bitcoin is highly speculative and known for its volatility. It’s wise to never invest any more than you can afford to lose. Rather, the company will send coins to whichever wallet you own. I’m sorry for the trouble you’re experiencing with our app.

An exchange broker, like Coinmama, sells crypto directly to you for fiat money. While an exchange marketplace, such as Binance, will match up independent buyers and sellers. For those seeking to buy or sell cryptocurrencies, Coinmama will likely be a wonderful fit. Nevertheless, if you have an interest in a range of financial products and services on one system, BlockFi may be the far better alternative.

This includes buying in set fiat amounts, buying in custom amounts and a variety of payment options. Purchases are deposited directly into your personal wallet; no crypto is stored on Coinmama. Coinmama accepts a variety of payment methods for 6 different fiat currencies, and provides multiple purchase options for customers.

Coinmama at a glance

There is a limited selection of cryptocurrencies for purchase, and only Bitcoin can be sold. Because purchases are direct to users’ wallets, the exchange is very secure as there is nothing to hack. However, fees for buying and selling are very high, especially compared to competitors.

I was hesitant when reaching out to customer service because I just assumed with Bitcoin, it would all be computer automated or no reply. Even if the fees may be higher than that of the competitors, you’re guaranteed high quality service, security & protection and very fast processes. A bank transfer will take, on average, somewhere between 1 and 3 business days to process.

Also, Coinmama doesn’t keep your assets as Coinmama will transfer them directly to your wallet. NerdWallet strives to keep its information accurate and https://forexbroker-listing.com/ up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site.

• In addition to credit cards, users can also use a debit card, bank transfer, and Apple Pay to buy Bitcoin and other cryptocurrencies on the exchange.
• Approved buyers will see their spending limit raised all the way to 1,000,000 USD.
• Coinmama sends your crypto within minutes after both your payment and wallet address have been confirmed.
• Once you go through the verification process, it should only take a few minutes to finalize the verification on Coinmama’s end.
• Being a cryptocurrency exchange service only, Coinmama does not hold any of your cryptocurrencies and requires you to have a separate wallet address.

Coinmama offers a wide range of cryptos that are amongst the most popular cryptos in the market. Payment methods for the purchase of cryptos include Faster Payments, Fedwire, Sofot, SEPA, SWIFT, and Apple Pay. Launched back in 2013, Coinmama is registered in Slovakia, while owners New Bit Ventures are based in Israel.

Coinmama offers access to 15 of the most popular cryptocurrencies in the world. Of course you will be able to purchase BTC and ETH, as well as several other coins. They plan to add more coins in the near future, so keep your eyes open for more options. I do need to mention that Coinmama only offers 15 cryptocurrencies so it is quite limited.

Here are the top 3 reasons why you should consider Coinmama. Cryptocurrency with a high-interest credit card can be risky business. In September 2020, Coinmama reached a deal with Apple to allow the use of Apple Pay for crypto purchases.

Advanced Security Protocols

It is your responsibility to follow those rules and laws in your country of residence or in the country from which you access this site and service. Enter the number of Bitcoin that you wish to sell and then click “Sell”. In order to sell Bitcoin, click the Sell icon located at the top of your Coinmama page. In order to change the purchase currency, simply go to the current dropdown menu and select your preferred currency. Coinmama offers you the choice of continuing with your desktop or switching to your mobile phone. For demonstrative purposes, we will keep going with the desktop.

Crypto assets are highly volatile and largely unregulated. There is no guarantee that any crypto asset will have at any time in the future certain value or market liquidity. As a Financial Services Business, Coinmama is required to collect certain details about its clients. Alex and Joshua made my first ever, Bitcoin purchase experience welcoming! This table does not include all companies or all available products.

Coinmama Review – Summary

From the screenshot below, you can see how easy it is to buy Bitcoin. There are three pre-set amounts you can choose from ($150, $500 or $1000) or you can type a different amount you want, at the far right. There are no confusing charts, or markets that you need to understand before you can buy crypto. Coinmama differs from many other cryptocurrency exchanges, so what does it offer? Let’s take a look at what you can expect from Coinmama.

With great power comes great responsibility, and ‘being your own bank’ is a great power indeed. Good safety practice begins and ends with securing your private key correctly, or alternatively securing the seed phrase used to generate your private key. Hardware wallets that keep your keys off the internet are highly recommended. However, mobile wallets and online wallets can do the trick as well, especially at the beginning of your crypto journey. Whatever you do, make sure you have a backup of your keys in case your original device gets damaged or goes missing. You can cash out anytime and we’ll transfer the money to your bank..

Selling Bitcoin to Coinmama incurs the same fee structure, and Bitcoin is the only asset you can sell on the exchange. Coinmama has three levels of verification, with each successive tier increasing the buying limit on the account. No matter the tier, there are limits on daily and monthly purchases through credit card and bank transfer. These limits increase as you go up through the tiers. For US investors, we advise you to contact Coinmama ‘s support Department, since there are US states where the exchange can offer its services.

Payment Method

Other crypto exchanges require you to first deposit fiat currency into your account, then buy crypto, and finally transfer the funds to your external wallet. Coinmama on the other hand, takes the payment at the point of sale, and sends the crypto directly to your wallet. When you sell your crypto, it goes straight from your external wallet, and the fiat funds from the sale are sent straight to your bank account. Coinmama is a crypto broker exchange that was created in 2013. Based in Israel, Coinmama specializes in fiat-to-crypto purchases where assets are deposited directly into users’ wallets.

You always have the funds securely in your possession, so you don’t need to worry about trusting Coinmama with your investments. Even if Coinmama is hacked, you will not lose any crypto because it is always stored in your personal hot or cold wallet. There is a USD15,000 limit on the purchase of cryptos by credit or debit card. Since the early years, Coinmama has continued to add cryptos to its offering not to mention alternative payment methods. ChangeHero is one of the best crypto exchange platforms in the market. You can convert Bitcoin, Ethereum, Litecoin, and over 100 crypto assets fast and securely.

Side-by-Side Comparison

All in all, I hope you enjoyed this comprehensive Coinmama review! Coinmama is a great exchange for beginner crypto investors. Their user-friendly exchange, as well as top coin offerings and account security, makes them a top contender. If you are coinmama exchange review looking for more coin offerings, I would highly recommend checking out Coinbase. They offer 100+ coins and a user-friendly interface as well. Coinmama is one of the leading cryptocurrency exchange brokers, with more than 2million users worldwide.