Coinmama Review 2024: The Safe Way to Trade Crypto

Coinmama Review

In terms of security, Coinmama takes measures such as two-factor authentication (2FA) and encryption to protect user information. It also has a customer-centric approach and has received positive reviews for its customer support. During a purchase, you’ll need to enter the crypto wallet address where you want to receive your order. The best thing about Coinmama is how beginner-friendly it is.

Coinmama Review

The safety of the cryptocurrency is ultimately the users’ responsibility, as orders go to the user’s wallet. Coinmama provides brokerage services to buy digital assets and other leading cryptocurrencies. While the ability to use credit or debit cards to buy crypto is convenient, it’s not cheap.

Coinmama Customer Support

On the other hand, you won’t be able to complete your purchase without having a cryptocurrency wallet first. We highly recommend using a hardware cryptocurrency wallet like Ledger or Trezor, as they provide one of the safest ways to secure your coins in Coinmama Review cold storage. One of the USPs of Coinmama is the fast, secure, and safe service it provides for buying cryptocurrencies like BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA via credit cards. Coinbase is a good option for beginning cryptocurrency investors.

  • You’ll begin the account creation process by inputting some basic information, such as your country of residence, address, and email.
  • In order to reach this rank, cryptocurrency buyers must have a cumulative 90-day purchase of 5000 USD or more.
  • The minimum amount of Bitcoins purchased on Coinmama is 60 USD or equivalent in EUR/AUD/CAD GBP/JPY.
  • Several exchanges offer either crypto lending or crypto staking programs, two popular ways to grow your holdings.
  • Your crypto wallet will then be funded with the cryptos that you have purchased.
  • The site is fully mobile-friendly and easy-to-use, so buying and selling will be just as easy on a phone or tablet.

Coinmama ensures speed of delivery, with cryptos reaching buy wallets within minutes. There are plenty of articles available via the help center to assist users in navigating and understanding the processes. You will also need to enter your country of residence and provide your address and phone number.

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With several payment options, super fast coin delivery, and high purchase limits, Coinmama seems to suit almost everyone. Anyone who pays with a debit or credit card will also see a 5% processing fee not included in the above numbers. The best way to avoid this fee is by using a bank transfer, which has no added fees. Toted not as a trading platform, but as a cryptocurrency exchange, customers simply select how many of which cryptocurrencies (Bitcoin, Ethereum, etc.) they want to buy.

  • Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues.
  • Since 2013, it has now about 2.2 million active users across 197 countries.
  • It runs under the watchful eye of parent company New Bit Ventures.
  • Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us.
  • Even though Coinmama does not have trading options like margin trading, users find it appealing and prefer it.
  • Coinmama forces you to keep your coins off the platform which dramatically reduces the likelihood of losing coins to a hack.

What beginners love about Coinmama is how easy it is to buy and sell cryptocurrencies. You don’t have to deposit funds, wait for them to clear and then buy your cryptocurrencies. It’s also an added safety feature because you aren’t storing your fiat currency on an exchange, or registering bank account details. Coinmama is different from most exchanges in that it doesn’t store cryptocurrency for its users. It sends cryptocurrency to the wallet address provided during the purchase process.

Coinmama’s Customer Service

Coinmana’s fees will depend on the payment method you choose for your transaction. There is no concrete information on their site about the exact fees. This Coinmama support article is the only published document. However, by testing some sample orders myself, I was able to gather some data. Coinmama supplies a brokerage service for Bitcoin and other cryptocurrencies. This means that the company sells you the coins directly, as opposed to a trading platform where you buy the coins from other people.

  • A user’s account is given daily and monthly spending limits on buying and selling cryptocurrencies depending on the verification level an account has reached.
  • Once you buy the coins, they are sent to your crypto wallet.
  • Instead, Coin mama is a buying platform which enables traders and investors to purchase cryptocurrencies like Bitcoin and Ethereum.
  • The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
  • The fees for Credit Card Purchases are a mere 5% and is instant.
  • While you’ll need to get a crypto wallet from another company, the ability to buy and sell seamlessly and securely through Coinmama’s platform makes crypto trading easy and safe.

Readers should exercise due diligence before participating. CoinSutra and its writers are not responsible for any investment losses from acting on website or social media content. CoinSutra provides general cryptocurrency and blockchain information for educational purposes only. Content on CoinSutra’s website and social media is not financial, investment, trading, or professional advice. Readers should conduct independent research and consult a licensed advisor before making investment decisions. 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.

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