Purchase crypto assets and have them sent directly to your wallet with Coinmama. If you have read it from start to finish, you should now have a really good understanding of how it works as well as all of the advantages it comes with. If you would like to check out Kucoin, more recommended broker exchange, then check out this full review. Double-check that you have entered the correct information or it may delay the process! You can also enter a custom amount of BTC that you’d like to purchase, too – the price will be presented in the currency of your choice.
- Depending on the account verification levels, Coinmama provides surprisingly high transaction limits.
- We may receive compensation from our partners for placement of their products or services.
- Coinmama is an easy-to-use crypto exchange and great for the beginner crypto investor, however, this exchange does charge higher than average fees.
- Undoubtedly, an added benefit is that users can also sell Bitcoin for fiat money.
- The first step is to open an account and wait for verification.
- Log into your account to buy Bitcoin or Ethereum with Coinmama.
Enter the Address of Your Wallet
All Coinmama users need to do is have a payment method such as a Visa or Mastercard credit or debit card, and you can buy coins, store them, and wait to see if they increase in value. Only a very small handful of cryptocurrency exchanges now support trading using fiat cash. 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. The exchange Coinmama Review holds no assets on the platform, making it unappealing to hackers.Traders can buy 16 cryptocurrencies but can only sell Bitcoin through Coinmama. However, it is a secure platform that has successfully helped over 3 million users purchase digital assets in 188 countries.Coinmama is more of a brokerage than a crypto exchange. The platform to doesn’t custody assets for you, which means that any purchase you make is sent directly your wallet address of choice.
Outstanding customer service
The price that is shown on the Coinmama website is inclusive of the 5.9 percent brokerage fee that is charged by the firm. The XBX index used by TradeBlock is used in the calculation of the base price. The mentioned price includes an additional fee of 5 percent for credit card processing; hence, Coinmama’s pricing is 5.9 percent more than the going rate for the market.
Funding / Withdrawal Options
Coinmama supports users with 24/7 access via email or telephone, which positions it well in the cryptocurrency space when compared to other exchanges. Some users lament that Coinmama doesn’t have a crypto wallet, but it’s easy to set up a wallet quickly. You either love or hate them, and there would be little point as your cryptos aren’t on the Coinmama system. They are in your crypto wallet, which you can probably download to your mobile.
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Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved or otherwise endorsed by these entities. Coinmama will send your crypto coins directly to your wallet, so you should have that set up. Make sure you copy the wallet address accurately because a mistake could mean your coins end up elsewhere. Instead, when you buy crypto using the site (or the Android app), the coins are sent to your external wallet.
Coinmama Ratings at a Glance
However, one of the most popular and favored exchanges is Coinmama. For more intensive trading (buying more than $15,000 worth of crypto per month), you will need to supply additional verification documents. There are 2 additional tiers of trading activity, based on how much crypto you buy per day or per month. You don’t have to go through the verification process for those additional tiers until you decide you want to trade more than what the first level allows.
Coinmama Support Team
Purchased cryptos will appear in your wallet, and you can use them however you want, including trading them through other exchanges or holding them for future sales. After you connect your crypto wallet using your wallet address, you can buy and sell cryptocurrency 24/7 with transactions that are complete in just minutes. Numerous crypto exchanges and trading platforms do not facilitate the sale of cryptos and withdrawal of fiat money. Once you have clicked “Buy Now”, you will be prompted to enter your target crypto wallet address and choose your payment method. Users are able to purchase Coinmama supported cryptos by credit or debit card or by bank transfer.
It is important to note that Coinmama does provide exchange crypto wallets to house purchased cryptos. Having been launched back in 2013, Coinmama was also amongst the first to support the purchase of Bitcoin with credit and debit cards. Coinmama is an online cryptocurrency exchange supporting the purchase of cryptos.