Coinmama Reviews, Trading Fees & Cryptos 2025
The Coinmama web platform sells ETH and BTC to registered users, allowing them to pay with Visa or MasterCard or through a 3rd party service (Western Union). There are 4 verification levels with different lifetime purchase limits. The platform doesn’t offer an API or mobile app, but they plan to add other features, such as allowing users to sell cryptos and supporting more coins. Unlike many other crypto exchanges, you cannot trade crypto with Coinmama. There are no staking opportunities, and Coinmama does not have a mobile app or a crypto wallet. Different cryptocurrencies at Coinmama come with different limitations and set withdrawal amounts.
Coinmama Deposit Fees
Coinmama has many payment methods for crypto purchases, such as Google Pay, Apple Pay, Debit cards, SWIFT, SEPA, Fedwire, SEPA Instant and Skrill. After completing the payment information, enter your wallet address then click ‘Complete Payment’. Coinmama makes a solid choice for traders looking to trade crypto as it has a sleek, easy-to-use interface, signing up is straightforward, and most of its processes are simple. It offers a vast collection of cryptocurrencies to trade, and users can also earn staking rewards, among other things. Coinmama enables customers holding crypto to take part in staking rewards.
Before making financial investment decisions, do consult your financial advisor. As one of the world’s largest Bitcoin brokers, Coinbase has built itself quite the reputation within the cryptocurrency market. It’s available in most countries worldwide, including the US & UK.
Supported Countries
Unlike other exchanges, cashing out requires manually sending crypto to an address provided by Coinmama, and then receiving funds into your bank account. After Coinmama has received your Coinmama withdrawal request, you will receive a confirmation email regarding the status of your Coinmama withdrawal within two business days. It shouldn’t take more than a few days for you to get your money from Coinmama to the withdrawal method you selected. It is possible that you will not receive your money from Coinmama for up to ten business days after making a Coinmama withdrawal request.
While it’s a centralized exchange, it takes steps to protect your data. You can review your past orders by clicking the “Orders” button on your account dashboard. After you register, Coinmama will send you a verification email.
In addition to this, Coinmama also offer credit and coinmama exchange review debit cards as deposit methods (VISA & Mastercard) and bank transfers (Faster Payments (UK), Fedwire, SEPA, Sofort, and Swift). Fees here start at 2.90% but vary substantially based on your payment method and certain other circumstances. For instance, buying crypto via SEPA-transfer is cheaper than buying crypto via credit card. If you buy crypto via SEPA-transfer at Coinmama, your total fee is normally 5.5%. As Coinmama’s fee structure is unclear, I wanted to test the fees for each of the above payment methods with $1000.
After registering, Coinmama sends an email asking you to verify your account. After clicking the link, you will be redirected back to the site. In order to begin purchasing coins, you first need to verify your identity. Each section opens to more in-depth details on each subject, so you might be able to get an immediate answer. If not, click on “Connect” at the top right of the page, and you have two options, send an email form or call Coinmama on the telephone.
- Coinmama does not store your bank card details, and there is no requirement to add a bank account.
- They have not been involved in any kind of cyber attacks or hacks to date, and as a result, both exchanges have equally gained the trust of the crypto community.
- The exact fee will depend on the number of coins you want to buy, and this seems to change without notice.
Coinmama Network Fee
Now all you need to do is repeat the previous steps to complete your purchase. At the final stage, you will be asked to enter your debit or credit card details, as well as your Bitcoin or Ethereum wallet address. As soon as a purchase is made, the currency is instantly transferred to a wallet or bank account selected at the time of the transaction. Coinmama exchange is a brokerage service which allows users to buy Bitcoins and other altcoins instantly using a credit/debit card.
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Coinmama works best particularly for active retail traders seeking to trade as well as store multiple digital currencies, as it offers an element of convenience. The platform also happens to be a viable option for institutions and businesses looking to utilize digital currencies, and it allows traders to convert one digital currency to another. The minimum amount I could sell was £23.69 worth of ETH, but I actually had to send £31.02, which is significantly higher than the minimum sell requirements on most other exchanges. Additionally, only credit/debit cards and SWIFT payments were available for selling crypto, limiting the payment options.
Coinmama also ensures other ways to safeguard funds, i.e., two-factor authentication and AES-256 encryption. Your wallet is also covered up to 250K, courtesy of FDIC Insurance. Yes, services are offered in over 190 counties worldwide, excluding restricted areas. Coinmama has an educational resource called Coinmama Academy, a database of blog articles set up to help newcomers understand crypto. Its content focuses on the basics of crypto, which I think is awesome to see a smaller exchange like Coinmama put effort into. Coinmama’s £5.69 fee for a small sale of just £23.69 felt excessively high for such a small amount, a 24.06% fee!
Contrary to holding cash in a traditional bank, cryptocurrency is not secured under federal laws. Coinmama stores 98 percent of its users’ cryptocurrency offline in what is known as cold storage. The remaining 2 percent is meant for facilitating trading volume. The platform also has an insurance policy that protects users’ cryptocurrency holdings. Trading commissions at Coinmama work similarly to traditional share dealing fees.
Coinmama Review
This way, they can effortlessly place market offers, and keep tabs on live market data, i.e., shares, currencies, stock indices, commodities, etc. Coinmama has highly rated applications for both iOS and Android. Specific device whitelisting is a feature that enables cryptocurrency withdrawals to only be sent to devices that are allowed.
- After verifying your Coinmama account, decide which cryptocurrency you want to buy and connect your wallet.
- The verification process is quite simple as you only need to confirm your personal details and then upload some form of ID.
- The platform is available in over 210 countries (including some of the US states) and sells BTC or ETH to its users, accepting Visa, MasterCard, and Western Union payments.
- You cannot deposit funds into Coinmama as crypto purchasing is a direct sale.
Coinmama exchange charges an additional processing fee of 5% for buying cryptocurrencies using debit/credit cards. Coinmama was founded in 2013 with the mission of simplifying the way people buy Bitcoin (BTC). Since then, we have served more than 3,400,000 users in 190 countries.
In the event that there are any issues with the Coinmama withdrawal request, such as the Coinmama account not being verified, the Coinmama customer support team will get in touch with you. No, Coinmama is not a wallet provider, so if you need a place to store your coins, you should check out some of the most recommended cryptocurrency wallets. If you cannot find a cryptocurrency that you’re looking for, you should check out Kucoin that has more options to choose from.