Coinmama Reviews Read Customer Service Reviews of coinmama com

On the issue of privacy, Coinmama is upfront concerning the information it collects from users and how it is used. According to Coinmama’s website, the platform collects information about users’ activities, KYC details, communication data and device information. The information goes a long way in helping the platform enforce safety measures and make things convenient for its users.

• The market cap calculation is done by multiplying the total supply of the cryptocurrency with the price.
• Verification for this level requires a secondary form of ID.
• Here is a list of our partners and here’s how we make money.
• Total cumulative crypto purchases at Level 1 verification are also capped, at 15,000 USD.

I’ve found that Coinmama’s is pretty competitive with other exchanges that offer the use of credit cards. If you connect a bank account, you will avoid this fee altogether. As a centralized crypto exchange, Coinmama has deep liquidity. In other words, you can buy or sell many types of crypto assets without moving the price greatly.

It allows you to buy or sell different kinds of cryptocurrencies, Bitcoin being the most popular one, using various payment methods. Coinmama charges a certain amount as their brokerage fee for your transactions. It is one of the first firms to partner with Apple Pay to buy/sell Bitcoin. Coinmama is a straightforward exchange where you can buy several cryptocurrencies and sell Bitcoin. Accepted payment methods include credit and debit cards, Apple Pay, Google Pay, and ACH transfers.

What Makes Coinmama Different from Other Exchanges?

If you sell BTC through Coinmama it sends the money directly to the payment destination you specify. Coinmama offers a help centre for users in addition to a contact form. The help centre contains information on everything from getting started with blockchain to how to buy crypto. Before being able to use Coinmama, users will need to undergo Know Your Customer . Evan was introduced to cryptocurrency during the 2017 bull market and has been writing about it full-time since 2019. Having already completed a degree in history, he has completed an editing certificate.

The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation. Select the cryptocurrency you wish to buy and the currency you will pay with. To qualify for a Crypto Believer loyalty level, you need to be purchasing continuously for 30 days with Coinmama. Also, you need to either have a $ 50,000-lifetime purchase amount or maintain a cumulative purchase amount of $18000 for a 90-day rolling period.

Transaction Fee

Coinmama accepts credit or debit cards that are issued by Visa or Mastercard. The company now also accepts payments by bank transfer with 0% processing fees as well as Apple Pay. Prices are denominated in EUR, USD, GBP, AUD, CAD or JPY. The company focuses on customer experience and customer service so that transactions are super quick . On top of the credit or debit card fees charged on the Coinmama exchange, there is also an average fee of 5.5% to 5.9% for every transaction made on the Coinmama platform. However, the exact and the minimum fee depends on the number of cryptos a trader intends to buy.

This saves a lot of time for the clients as they don’t have to look for buyers to sell Bitcoin. The Coinmama exchange is also making serious efforts to reduce the brokerage fees as much as possible. Buying Bitcoin or other leading cryptocurrencies becomes easier if you have a registered Coinmama account. Coinmama is the perfect platform for first-time Bitcoin buyers.

Once you are done with all the verification levels, you need to enter the quantity of the currency you wish to purchase. Anytime you purchase with Coinmama and enter your card details, the platform sends your coins instantly to your wallet. This is a more secure option compared to third-party wallets that are susceptible to hacking.

You will also be charged a commission payment of up to 3.9% for purchasing and up to 0.9% for selling. Based on your purchasing activity, tiered loyalty levels get reduced commission fees. All transactions will be processed by New Bit Ventures and Coinmama will use a 3D Secure authentication for credit card transactions. Besides, it will not store any of your card details in its system.

This is why our Team try our best to keep our customers informed with any important upcoming events, such as the ETH 2.0 Merge coming soon and others like this. Everyone here at Coinmama I’ve had the pleasure of meeting has been very helpful, knowledgeable, and patient. They made me feel comfortable and welcome and I got the feeling of being in a family-oriented environment`. It was a nice experience and i am pleased I am now a part of it.

How Coinmama works

The advantage of using a broker is because it’s simple and fast. Coinmama has also made the effort to keep its fees incredibly low. This means you get to keep more of your crypto while making trades. As a beginner trader, you will have to use a debit card, credit card, or bank account at some point in order to purchase cryptocurrency. On the convenience side, It offers many payment methods without any trouble.

Approved buyers will see their spending limit raised all the way to 1,000,000 USD. Similar to the Crypto Enthusiast, a Believer must maintain a purchase amount of 18,000 USD or more over a rolling 90-day period. Users can also reach this level once they’ve reached a lifetime purchase amount of $50,000 USD or more. In order to reach this rank, cryptocurrency buyers must have a cumulative 90-day purchase of 5000 USD or more. The Coinmama platform has three different levels of savings. Each tier above the basic level requires reaching and maintaining a minimum purchase amount over a rolling 90-day window.

Suffice it to say, they are pretty legitimate, and likely not a scam. Coinmama addresses their customer support team as “Happiness Heroes.” The team is efficient and provides instant support. You can also reach out for support through Coinmama’s live chat support and their Facebook page.

Buying Limits

The site sells fractional shares of bitcoin, so you can make purchases for as low as $30 worth of bitcoin based on its current spot trading price. It might even be more if you are assessed a cash advance fee or a fee for using a currency other than US dollars or euros – like GBP. Coinmama accepts a variety of payment methods for https://broker-review.org/ 6 different fiat currencies, and provides multiple purchase options for customers. Finder’s Coinmama review has all the information you need about the exchange. The fees combined of XBX + 2% & commission fee between 0.9%-3.90% (upto 0.9% on sell transactions & 3.90% on buy transaction) which depends on loyalty level also.

Coinmama Review: Verdict

One of Coinmama’s highlights is the ability to get your coins almost instantly upon purchase. When a user lays down the money to buy Bitcoin or another crypto, the coins appear in their crypto wallet address once the payment coinmama exchange review method is processed. Coinmama does not provide a wallet service, and thus you won’t be keeping any of your funds on the exchange. You can only buy crypto and have it sent directly to the wallet address you provide.