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Coinmama Review

Once your wallet address and payment are confirmed, you should receive your coins in minutes. However, it depends on how fast the payment is processed. The Coinmama website would benefit from adding more details, such as transaction fees. However, it is easy for new users to open an account and start buying cryptocurrencies without the hassle of tackling reams of information. Once the payment details are accepted, the Bitcoin (BTC) is immediately sent to your wallet address. If, for whatever reason, the order aborts, Coinmama reverses the money into your bank account within 48 hours.

  • While Coinmama does support a number of payment methods the one thing we’d like to see more of is a higher number of cryptocurrencies available for trade on their platform.
  • While the lack of a mobile app and an in-platform crypto wallet might make Coinmama feel a little incomplete, the overall service is still solid for its convenience and security.
  • Here’s a short comparison of Coinmama’s brokerage service compared to other popular services around.
  • Each section opens to more in-depth details on each subject, so you might be able to get an immediate answer.
  • This Coinmama review will take a look at what you can expect from the exchange and help you decide whether using Coinmama is right for you.

Please also note that other fees like if you’ll use your credit card, CA and FOREX conversion (if applicable) are not yet accounted for. You cannot deposit funds into Coinmama as crypto purchasing is a direct sale. You choose your crypto from the drop-down list, enter your wallet details and pay with your preferred method.

Other platforms to consider

In this article, we’ll review Coinmama and go over what they have to offer. Finder monitors and updates our site to ensure that what we’re sharing is clear, honest and current. Our information is based on independent research and may differ from what you see from a financial Coinmama Review institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.

Our estimates are based on past market performance, and past performance is not a guarantee of future performance. Providers of financial services are required to collect certain details about their clients. In addition, this helps fight fraud and keep your account safe. Your crypto is sent immediately after both your payment and wallet address have been confirmed.

Registration and Verification

Another critical, shocking revelation is that United States residents can also use it. Coinbase is a good option for beginning cryptocurrency investors. The platform is easy to use, and it’s possible to trade more than 100 cryptocurrencies in addition to buying and selling them. Coinmama is a regulated exchange that holds no user assets. This makes it secure as there is nothing to hack other than user data.

Coinmama Review

As with most cryptocurrency exchanges, online reviews of their customer service response has been mixed. They proceed to create the order by choosing how much they want to buy, entering their wallet address and then filling out their card details on the checkout page. Coinmama does not store customer’s credit or debit card details on their servers. I tried buying bitcoin for the first time ever on Coinmama in order to buy a product from a business that only wanted bitcoin.

Coinmama’s Security Record

Opinions shared by CoinSutra writers are their personal views only and should not be relied upon for financial choices. NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity. Our partners cannot pay us to guarantee favorable reviews of their products or services. I purchase Tether by Skrill as I know they are affiliated with skrill and I did and I see the price is very very high and it is unbelievable.

Trades funded by SWIFT bank transfer don’t have a fee, but there is a $250 minimum. Coinmama is registered with FINCEN in the US as a money service business. In addition, Coinmama charges an additional 5% fee on each credit and debit card transaction.

Coinmama at a glance

Credit/debit transactions incur an additional 4.99% charge. I received an email from coinmama saying that my account had to be re verified. I uploaded all docs requested….selfie with “today’s date” and ID. Well I received another email saying that my address on form was different. Ok I informed them that the address was an old address.

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