If you sell bitcoin to the exchange, Coinmama will put what you receive in your bank account as fiat currency. 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 holds no Coinmama Review 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 Pros of Coinmama

Another way to get around the fees is through the loyalty program discussed above. You are automatically enrolled and automatically level up as your trading activity qualifies you for higher levels. Learn more about what the platform offers and how the service holds up to its competitors in our https://www.tokenexus.com/. I had a problem with my wallet, the funds wasn’t showing up so I had to disconnect and re-import the wallet which is easy to do. If you looking for a quick way to purchase some crypto look no further.

Is Coinmama the Best Option for You?

• Coinmama does not store your bank card details, and there is no requirement to add a bank account.
• Nonetheless, if you want to contact them after hours, you can raise a support ticket, send an email, or reach them via social media.
• Because of this validation procedure, customers are unable to purchase cryptocurrency for, or on behalf of, others.
• The first is the default level, and the next two have spending requirements.
• Please click on the green ‘Go to site’ button above if you wish to be redirected to the official site of Coinmam and process your BTC purchase from there.
• In conclusion of this Coinmama review we can say that this is a reputable company, so the short answer is yes, Coinmama is legit and safe to buy crypto on it.

FinanceBuzz and CardRatings may receive a commission from card issuers. 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.

Coinmama Review Fees, Security, Pros and Cons

• This also helps keep your account safe, fight fraud, and more.
• Providing your email address, full name, address, and other relevant information helps to protect your account.
• Once the payment details are accepted, the Bitcoin (BTC) is immediately sent to your wallet address.
• Coinbase also has an interchangeable platform in Coinbase Pro, which is more suitable for intermediate to advanced traders.
• Having your digital currency sent immediately to your own wallet rather than being stored on the site is also a big positive.

Undoubtedly, an added benefit is that users can also sell Bitcoin for fiat money. There are no withdrawal fees when purchasing cryptos on the Coinmama platform. At this stage, Coinmama will proceed with the verification process and notify you by email upon completion. The document verification process usually takes around 30 minutes, which is one of the quickest in the market. At peak times, however, the verification process could take a couple of hours. Launched back in 2013, Coinmama is registered in Slovakia, while owners New Bit Ventures are based in Israel.

COINMAMA REPLIES

Is Coinmama safe?

Account Creation & ID Verification