Coinmama Review: Costly Crypto on Credit

Coinmama Review: Costly Crypto on Credit

Coinmama supports a variety of payment methods to buy cryptocurrency. FinanceBuzz is an informational website that provides tips, advice, and recommendations to help you make financial decisions. We strive to provide up-to-date information, but make no warranties regarding the accuracy of our information. Ultimately, you are responsible for your financial decisions. FinanceBuzz is not a financial institution and does not provide credit cards or any other financial products.

Not a great experience but the customer service made up for that.

Your crypto wallet will then be funded with the cryptos that you have purchased. 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.

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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. However, once this is done, you can buy up to $15,000 in coins without needing to provide any more information. However, as I explained earlier in my Coinmama review, Coinmama is a broker exchange which means that you are actually buying directly from them with fiat money. Coinmama is a cryptocurrency broker/exchange that is located in Israel. Originally created in 2013, the website explains that they offer a fast, safe and fun way to buy a digital currency from anywhere in the world.

Customer Support

To purchase crypto, you’ll need to use fiat, such as USD or GBP. Coinmama has higher fees than some other providers, though these fees fall as the amount of crypto you purchase and the time you’ve been a customer increase. I’ve been using Coinmama for a couple of years now and their service has always been on point. The platform is user friendly and transactions are completed fast. One of the disadvantages of the platform is the higher fees.

• Coinmama allows its customers to exchange fiat currency such as dollars or euros for cryptocurrency.
• However, our editorial content remains unbiased, reflecting our own opinions or the general information available.
• Once your identification is verified, you can begin purchasing cryptocurrencies by clicking on the “Buy” tab on the Coinmama website.
• Coinmama uses an encrypted website and payment transactions are also encrypted.
• The cryptocurrency brokerage has been around since 2013 and has a good reputation.
• Coinmama does not provide users with wallets on the exchange.

If you do decide to sign up with them, make sure you do some research. There are minimum required deposit amounts Coinmama Review depending on the payment method you use. However both SWIFT Global and SWIFT UK have a minimum amount of $250.

The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. While the trading platform is only available to desktop users, Coinmama has recently released its non-custodial wallet on both IOS and Android. Although users can view the price of crypto markets, the app only supports storing assets and not purchasing them. While the app boasts a slick interface and is easy to use, it currently only supports Bitcoin and Ethereum, hindering its performance.

One thing you can do from your end it to always make sure to pick a secure password. One that is unique to Coinmama if you choose to sign up with them. So at least you know you have done your bit to stay secure. The commission fee will depend on your designated loyalty level. Its stated business hours are Sunday to Thursday, from 11 pm to 7 am Pacific Time.

• There’s also a 3.24% to 3.34% fee for payments made by credit card, debit card, Apple Pay, or Google Pay.
• Very accessible due to fiat payments, not many exchanges offer this option…
• Similarly to Coinmama, Coinbase is also is an easy on ramp for cryptocurrency beginners.
• The user experience on Coinmama has been carefully thought out and is designed to suit individuals with various levels of investing knowledge.
• Coinmama is considered to be a safe and legitimate platform for buying and selling cryptocurrencies.
• Coinmama’s market rate for bitcoin is XBX + 2%, so that’s the price you pay for the crypto.
• Coinmama is a simple, straightforward platform for buying and selling crypto.