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Coinmama Review: Is Coinmama Legit & Safe?

For instance, buying crypto via SEPA-transfer is cheaper than buying crypto via credit card. If you buy crypto via SEPA-transfer at Coinmama, your total fee is normally 5.5%. After verifying your Coinmama account, decide which cryptocurrency you want to buy and connect your wallet.

The minimum deposit (except for Skrill and Neteller) and minimum trade size are $5 and $50, respectively. After finishing the payment, the cryptocurrency is sent immediately to the user’s private wallet address, not a wallet that is kept on Coinmama servers. The minimum purchase amount on Coinmama is 60 USD (or its equivalent in EUR) at present, although this is based on the price of Bitcoin. You create an order, choose how many bitcoin or other coins you want to buy and then proceed to the checkout page, where you enter your credit card details. One of the most important changes in the Bitcoin industry is how simple it has become to purchase Bitcoins with a credit card.

• Yes, Coinmama is a safe and legit place to buy bitcoins and other offered coins like ETH, ADA, XRP, LTC, and QTUM.
• Coinmama is a non-custodial exchange, so your crypto is always secure in your wallet.
• If you only want to invest in big-name cryptos (BTC, ETH), then this may not be a problem.
• However, once this is done, you can buy up to $15,000 in coins without needing to provide any more information.
• To better understand the quality of services in the Coinmama exchange, we have compared its features to other well-known crypto exchanges.

Coinmama Review 2025: Complete Beginners Guide

The exact fee will depend on the number of coins you want to buy, and this seems to change without notice. You can sell bitcoin against US, Canadian and Australian dollar and euro as well as British pounds. It offers easy-to-follow tutorials and explanations for beginners. Coinmama’s simplicity and security make it a popular choice for beginners. All your trading is also done with Coinmama instead of with buyers and sellers on the platform.

Can You Sell Bitcoins on Coinmama?

To clarify it is before you are allowed to buy or sell any cryptocurrency from the platform. As a result the transaction of buying crypto could become quite expensive. Altogether Coinmama is a reliable, established exchange and definitely one of the better platforms for the purchase of crypto. Do you know anyone who might be interested in buying some crypto?

Coinmama does not offer stashing services for either bitcoins nor for fiat currencies. The trade is carried out instantly, as you pay for bitcoins who are then in turn sent to your private BTC address. Being in business for few years, most of the users agree that the exchange is a legal marketplace where traders can safely get coins. The issues that most people report having are a long time for successful verification and very high fees. The exchange rate is also under fire, as 6.5% is deemed as large compared to the competition. It is concerned with how to buy bitcoins via Coinmama, presenting you with exchange’s features, functions, fees, pros, and cons.

Level 3

So it is best to stick to an easy exchange instead like Coinmama. It is ideal for people that have never used or seen a trading platform. One of the great things about Coinmama coinmama exchange review though is that they support a bunch of different currencies which makes them a good choice for European traders.

Sell Cryptocurrency

Coinmama is a fiat-to-crypto exchange that allows individuals to buy cryptocurrencies using fiat currencies. While the platform supports USD, EUR, GBP, CAD, and AUD, users wishing to transact in another currency will need to look elsewhere. As Coinmama is a bare-bones exchange, there are no additional features or complex order book-style interfaces to confuse users. However, it accepts all fiat currencies, while customers have to pay for the applicable exchange fees. Faster payments service is available for customers only in the UK, which allows users to buy crypto directly paying from their bank account and receive it within a day time.

Coinmama compared to other crypto exchanges

If so you might be able to benefit from the Coinmama affiliate program. By referring a new user to Coinmama you can receive a commission on all of their purchases. Yes, Coinmama does require a valid government issued ID in order to purchase cryptocurrencies on their platform. That ID can either be a passport or a state issued driver’s license or other national or state identity card.

• These revenue streams allow us to remain financially independent of advertisers, enabling us to provide all services with maximum transparency.
• So a trader goes to the Coinmama website and enters the purchase order, but the actual clearing of the trade is handed by a third party.
• The options for cashing out on Coinmama are decent but limited compared to its deposit options.
• However trading platforms are much more complex to use than exchanges.
• There have been no security audits of the exchange.Past hacks.
• For those who qualify for level 2 or level 3 in the loyalty program, that response time can be even faster.

Verification

Another interesting exchange when it comes to large BTC quantity purchases is CEX.io as its services are globally available, just like VirWox’s. The exchange also accepts credit/debit card purchases but PayPal is not available as a deposit option as of yet. In next step, choose the method of purchase (either credit/debit cards or Western Union cash purchase).

Deciding which cryptocurrency exchange to use can be difficult as there are hundreds of different options to choose from. However, one of the most popular and favored exchanges is Coinmama. Coinmama does not allow payment methods like PayPal, American Express or Discover. If they start doing so they will be the favorites to buy BTC/ETH quickly. Last, I would point out that even during the crypto rush in December 2017 when exchanges like Bittrex and Bitfinex closed their doors, Coinmama was still open for new registrations. Unlike other platform’s, Coinmama does not offer an online wallet for users to store their cryptocurrency on the exchange.

The tutorials could be updated to reflect current market conditions. While Coinmama has implemented security measures, more transparent information about its practices would be beneficial. Coinmama doesn’t charge fees for transferring crypto to your wallet.

Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field. Coinmama was started in 2013 as a startup in Israel and has since expanded and served over 2m customers in over 180 countries with over 30 employees. Today, the company is registered in the EU, more precisely, in Slovakia, while still owned and headquartered by New Bit Ventures in Israel. However, overall, the service is available in the widest range of countries.