That makes it perfect for first-time buyers! Now all you need to do is repeat the previous steps to complete your purchase. 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. Once you have logged into your account, navigate to the Buy page, and select what you'd like to purchase – in this case, I'll assume that it's Bitcoin. Coinmama supports Visa, MasterCard, ApplePay, SEPA, and some more payment options.

Interface and Additional Features

Since Coinmama is a cryptocurrency broker/exchange, you can buy, tade and exchange cryptocurrency. The only issue is that Coinmama offers relatively high fees when purchasing coins with fiat money. Very accessible due to fiat payments, not many exchanges offer this option… I knew that every exchange charges fees, but on coin mama it really ads up.

As for Coinmama verification time, accounts are normally verified within a couple of hours, so you will just need to wait until you receive an email. So, even though you can only purchase the two most popular cryptocurrencies, both BTC and ETH will allow you to trade with all the smaller, less popular cryptos. That said, it's worth noting that Coinmama does not have any withdrawal fees! The exact fee will depend on the number of coins you want to buy, and this seems to change without notice. To use your card, you will have to pay an extra 5% fee on top of the rate that Coinmama charge.

Coinmama Review: Step-by-step Guide to Buying Coins

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. In addition, Coinmama has not released an API to enable users to create custom applications that would be compatible with the platform. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.

• Our evaluation process and criteria are designed to assess sophisticated trading platforms.
• Coinmama doesn’t charge any additional fees to withdraw coins.
• While Coinmama has never actually been affected by a hack that led to a loss of cryptocurrency, they have been hacked.
• For instance, some other exchanges offer discounts on trading fees but in order to qualify for the discount you first must purchase some of their exchange token.
• I hope you enjoyed reading this Coinmama review!

Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. No, Coinmama is not a wallet provider, so if you need a place to store your coins, you should check out some of the most recommended cryptocurrency wallets. I still often come back to purchase coins in here and go trading to more niche cryptos So, for those of you looking to purchase Bitcoin, Ethereum, or another cryptocurrency for the first time, Coinmama is a great place to start. At the final stage, you will be asked to enter your debit or credit card details, as well as your Bitcoin or Ethereum wallet address.

Of this, Coinmama’s fee came to £11.37 or 11.39%, making it the most expensive exchange I’ve reviewed for buying crypto. By not holding any cryptocurrency on user’s behalf, Coinmama is effectively given users an extra nudge to set up their digital wallet (or even better, purchase a hardware wallet). The amount of cryptocurrency that a user may purchase is dependent on the level of verification that they have reached with the platform.

In my testing, I found Coinmama charged slightly more for buying crypto than selling it on all payment methods except SWIFT. It provides a straightforward way to buy and sell cryptocurrency using fiat, https://forex-review.net/coinmama-review/ avoiding the complexities of spot, futures, or leveraged trading. While the crypto-swaps tool does not require KYC or account creation, logging in and completing KYC is mandatory for buying and selling cryptocurrency. This website is a strong advocate of promoting that individuals do not leave their cryptocurrency on an exchange, due to the fact that such exchanges are prominent targets of hackers. As stated above, Coinmama supports a wide range of countries, probably the widest amongst cryptocurrency exchanges and significantly more than most of its rivals, including Coinbase and BitStamp. Aside from its international availability, one of the most appealing features that Coinmama provides that is absent among many of its competitors is that it provides users the opportunity to purchase up to $/€ 150 of cryptocurrency without having to verify their identity.

Cryptocurrencies Available on Coinmama

For example, if someone wants to buy Bitcoin and BTC is currently trading at $10,000 then the market rate for the sale on Coinmama will be $10,200. They charge a variable commission fee that can be as high as 3.9%. While it's easy to buy Bitcoin on Coinmama they don't offer support for very many other cryptocurrencies. 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.

Fees are high for purchases and sales. The private keys for your crypto are never held in Coinmama’s custody. Hopefully in the future Coinmama will include more coins so that traders have more options to choose from. The Coinmama customer support department is also quick to respond in the event of a trading problem. By referring a new user to Coinmama you can receive a commission on all of their purchases. What's cool about the Coinmama loyalty program is that everyone is automatically enrolled and you don't have to purchase anything to get involved.

Details

You should yourself determine which trading view that suits you the best. Active in the industry since 2017, he focuses on long-term holding, swing trading, and market cycles. Callum Kennard is a crypto trader and crypto journalist based in the UK. Coinmama has an educational resource called Coinmama Academy, a database of blog articles set up to help newcomers understand crypto. This stands out even among major platforms like Coinbase, which typically offer only two or three deposit methods per location. Its official website claims that it has a 0.9% withdrawal fee for Bitcoin.

Is Coinmama Safe to Trade With?

Coinmama forces you to keep your coins off the platform which dramatically reduces the likelihood of losing coins to a hack. When you buy Ethereum or any other crypto on Coinmama, using any one of their various payment methods, you have to supply a crypto address. While Coinmama has never actually been affected by a hack that led to a loss of cryptocurrency, they have been hacked.

All credit card purchases incur a 5% commission which is fairly typical and certainly a lower commission than some other platforms. They allow their traders and investors to buy Bitcoin or any other currency with a credit card or debit card at any time. Coinmama charges a commission each time someone uses their platform to buy Bitcoin or any other cryptocurrency. Like almost every other cryptocurrency exchange, there are regulations about who can access the platform.

Our evaluation process and criteria are designed to assess sophisticated trading platforms. Ultimately, Coinmama has a strong reputation within the cryptocurrency community as a safe, honest and trustworthy broker. One of the other advantages of Coinmama is that it effectively forces users to set up a secure digital wallet. In order to purchase from Coinmama, users in non-sanctioned countries need a VISA or MasterCard issued in such countries. However, it should be noted that daily and monthly limits are applicable regardless of what level users have reached in terms of their verification. In order to confirm wallet addresses, users will receive an email link from Coinmana to allow them to confirm that the address is valid.

• The crypto swaps tool supports 500 tokens — well beyond the 82 tokens available on the main exchange.
• The more documentation that the user provides, the more currency that they are entitled to purchase.
• The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
• Instead, Coin mama is a buying platform which enables traders and investors to purchase cryptocurrencies like Bitcoin and Ethereum.
• The platform provided an address to copy and a QR code for mobile convenience to facilitate the transaction.
• The company is most active on Facebook with daily posts, which I found strange as it’s not typically a crypto-focused platform.

Coinmama Review 2025

We do not publish biased reviews or spam. All reviews, either positive or negative, are accepted as long as they're honest. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. So, did you follow my step-by-step guide and buy some coins? While no exchange is perfect, Coinmama is definitely on the positive side. I hope you enjoyed reading this Coinmama review!

Customer service for Coinmama consists mainly of a support email address. A hardware wallet like a Ledger or Trezor is always a great choice. As soon as the payment method clears the money automatically gets sent to that address.

Unlike other exchanges, cashing out requires manually sending crypto to an address provided by Coinmama, and then receiving funds into your bank account. I appreciate the concept behind Coinmama, but its high fees make it an exchange I wouldn’t personally use. To complete my tests, I decided to sell some of the crypto I had just purchased. After logging in, UK users must wait 24 hours before making a purchase, in line with the FCA’s “cool-off” period for crypto transactions. Similar to most UK-compliant exchanges, Coinmama asks questions to confirm your understanding of crypto risks before allowing you to complete the transaction.

Keeping your crypto secure

Leave your genuine opinion & help thousands of people to choose the best crypto wallet. Just remember to stay safe out there and always do extensive research before placing your money into any cryptocurrency! If you would like to check out Kucoin, more recommended broker exchange, then check out this full review. If you cannot find a cryptocurrency that you're looking for, you should check out Kucoin that has more options to choose from. Congratulations, you can now buy up to $15,000 in cryptocurrency! Make sure this matches the address on your payment card or it will be declined!

Coinmama's Security Record

With offices in Israel and Canada, Coinmama focuses on simplifying cryptocurrency purchases for beginners. Coinmama, founded in 2013, is a Canada-based cryptocurrency exchange and the consumer-focused arm of Wellfield Technologies, which acquired the company on May 27, 2022. Coinmama operates as a non-KYC exchange for crypto swaps, allowing access from nearly anywhere in the world through third-party payments. For this reason, we’ve excluded it from our ranking and instead provided a review for users seeking these types of services. Although Coinmama remains a relatively small exchange in the cryptocurrency ecosystem, they have yet to experience any known security breaches and are slowly but steadily building up their market share. In addition, by offering transactions through Western Union, Coinmama is one of the only sites that allow customers to purchase cryptocurrency through ‘cash’ deposits.