Coinmama Review 2024: Features, Fees, Pros & Cons Explained

One of the most frustrating parts of buying cryptocurrency is that so many exchanges don’t allow you to use fiat money. Instead, they normally ask you to deposit using another cryptocurrency (such as Ethereum) that you obviously can’t do if you don’t have any! Deciding which cryptocurrency exchange to use can be difficult as there are hundreds of different options to choose from. However, one of the most popular and favored exchanges is Coinmama. While there are no monthly membership fees or other regular surcharges, Coinmama does have a kind of complicated fee structure that applies to each transaction. The interface is designed for beginners to easily, quickly, and securely purchase cryptocurrency that resembles Paybis, a similar fiat-to-crypto exchange we have reviewed.

I like the security Coinmama has given…

It’s strictly a way for you to purchase the cryptocurrencies offered by Coinmama. Once you buy the coins, they are sent to your crypto wallet. The only way to withdraw money from Coinmama is to sell bitcoin to the exchange.

Coinmama Review: Security

Coinmama is a regulated exchange that holds no user assets. This makes it secure as there is nothing to hack other than user data. There have been no security audits of the exchange.Past hacks. Coinmama disclosed that 450,000 email addresses and passwords were affected.Security audits.

Coinmama Review: Advantages

A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order. A maker fee is the fee charged when you propose an order for other traders to take.

• Coinmama boasts higher transaction fees than most exchanges.
• Coinmama is GDPR compliant, and all personal information and documentation is encrypted.
• The more documentation that the user provides, the more currency that they are entitled to purchase.
• Nevertheless, when buying BTC with Coinmama, depending on your payment method, they charge 5.5% for every transaction and another 5% if you are going to use a credit card.
• When dealing with financial transactions online, it’s important to use a site that is safe and secure.

I am happy that the support team quickly provided the necessary transaction data and explained the features of the platform. They contacted me about my issue, before I had a chance to inform them! Customer service Coinmama Review for Coinmama consists mainly of a support email address. If you have any problems you can email Coinmama and wait for a response. You can find out more about Coinmama’s customer service on this page.

• Quick and painless transaction once you get past the initial verification process.
• With Coinmama, users are able to sell Bitcoin, even if purchased elsewhere and receive fiat money directly in their bank account.
• Currently there are three levels to the loyalty program that we’ll talk about in this Coinmama review.
• We use dedicated people and clever technology to safeguard our platform.
• With this service, Coinmama will provide assistance with managing a crypto portfolio of up to $100 million.

Most traders will only ever need to get verified for level 1 and that level requires the least personal information. It’s also worth noting that Coinmama does have a minimum purchase requirement of $50 per order. 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.

• If you cannot find a cryptocurrency that you’re looking for, you should check out Kucoin that has more options to choose from.
• However, delays can happen if there’s a problem with the document you uploaded for the verification.
• Additionally, CoinMama’s selection of cryptocurrencies is limited compared to other exchanges, which may be a disadvantage for users who want to trade a wider variety of cryptocurrencies.
• Not only this, but you also have lots of different options such as market orders and kill-or-fill orders.
• We receive compensation from the products and services mentioned in this story, but the opinions are the author’s own.

Coinmama Loyalty Program