There are several deposit methods available in a variety of fiat currencies (including GBP). As soon as your payment clears, Coinmama sends you your coins. This is an important feature to consider since sometimes a day or two can mean large price fluctuations. To protect both parties from this, Coinmama “locks” the Bitcoin price for you as soon as you submit your order.
There is also the Coinmama Academy, which offers basic information about relevant topics, including data about each coin, how cryptocurrencies work, important crypto terms and more. This is a great place to start learning about investing in DeFi as there are articles that cover lots of different aspects of the field. Coinmama has a bespoke Into The Block trading platform built around ease of use and simplicity. The platform allows clients to easily buy and sell any of the supported cryptocurrencies. The platform also includes a charting functionality with custom timeframes and key details, such as 24h change, all-time high and yearly low.
Coinmama fees
After the initial account verification, purchased coins immediately go to your digital wallet. Note that you’ll need to already have a digital wallet that you use since Coinmama is not a wallet provider and doesn’t hold coins for you. Overall, Coinmama is a beginner-friendly cryptocurrency exchange with a straightforward buying and selling process. While it may not offer as many cryptocurrencies as larger exchanges like Coinbase, it provides a user-friendly interface and a range of payment options. The Coinmama Wallet is accessible through a free mobile app, which doubles as a mobile trading platform and is available on the Apple iOS App Store and Android Google Play Store. This application allows you to send, receive, buy and sell cryptocurrencies.
Before buying cryptocurrency on Coinmama, you will need a crypto wallet supporting the coin of your choice. 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.
Coinmama Review 2024: Complete Beginners Guide
The amount of cryptocurrency that a user may purchase is dependent on the level of verification that they have reached with the platform. The more documentation that the user provides, the more currency that they are entitled to purchase. This allows users to be able to take advantage of advantageous price movements.
Similar to the Crypto Enthusiast, a Believer must maintain a purchase amount of 18,000 USD or more over a rolling 90-day period. Users can also reach this level once they’ve reached a lifetime purchase amount of $50,000 USD or more. The Coinmama platform has three different levels of savings. Each tier above the basic level requires reaching and maintaining a minimum purchase amount over a rolling 90-day window.
Coinmama Review: Is it a Safe Crypto Exchange?
The monthly order quantities for bankcards rise to 30 while wire transfers stay the same at 50. The order sizes also rise to £30,000 and £50,000, respectively. The total maximum order sizes rise to £50,000 for both methods. Despite a limited coin list and somewhat high fees, Coinmama’s sophisticated functionality sets it apart. Coinbase charges a variable fee for credit card purchases and does not disclose their fees ahead of time. Unlike Coinmama, Coinbase supports a limited number of countries around the world and is known to have horrible support.
In order to confirm wallet addresses, users will receive an email link from Coinmana to allow them to confirm that the address is valid. Because of this validation procedure, customers are unable to purchase cryptocurrency for, or on behalf of, others. Documents uploaded to Coinmama for verification tend to be processed within a few hours during business hours, with longer processing times to be expected during evenings and weekends. However, Coinmama’s customer service team will try to assist users that require faster verification. Instead, all purchases of cryptocurrency by customers are transferred directly from the company’s own holdings, making transactions more secure than some of its competitors.
For users that quickly want to purchase Bitcoin or Ethereum via credit/debit card and avoid the long wait times of bank transfers, it is a good choice. Having your digital currency sent immediately to your own wallet rather than being stored on the site is also a big positive. For customers interested in purchasing lesser https://www.tokenexus.com/ known cryptocurrencies, buying large amounts or actively trading, you’re better off heading to an exchange. To buy cryptocurrency, Coinmama’s available payment options include credit or debit cards issued by Visa or Mastercard. Coinmama also allows transfers from a bank account as a payment method along with Apple Pay.
- They have been very helpful with prompt, kind and professional support.
- NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency.
- The first thing that any Coinmama review should cover is who can actually use the platform.
- Plus, your image should also contain a paper with COinmama written on it with today’s date.
- In order to reach this rank, cryptocurrency buyers must have a cumulative 90-day purchase of 5000 USD or more.
He now spends a lot of time navigating through the wealth of misinformation on altcoins in order to decide which will be the next addition to his portfolio. Fill out the registration form on the homepage of You’ll need a valid email address, password, full name and country of residence. You will receive an Coinmama Review email from Coinmama that directs you to the verification link. Click on Buy BTC and on the next screen they will ask you to enter the Bitcoin wallet address on which you want to receive Bitcoins. If you don’t have a Bitcoin wallet address, simply follow this guide and get a wallet address for yourself.