Coinmama review: Legit or Scam!

coinmama review

If you’re looking for a fast and easy way to purchase Bitcoin, Coinmama is a great option. Based in Israel, Coinmama has been helping people purchase bitcoin since 2013. They offer a simple interface that makes it easy to purchase Bitcoin or sell crypto. Plus, they offer some of the lowest fees around. Plus, they offer some of the lowest fees.

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If you’re looking to buy or trade cryptocurrencies, Coinmama is one of the most popular choices. But what is Coinmama, and is it the right choice for you?

In this Coinmama review, we’ll look at everything you need to know about this popular crypto exchange, including how it works, what fees it charges, and more.

Coinmama is a straightforward exchange platform that enables you to buy and sell popular coins such as Bitcoin, Ethereum, Litecoin, etc. One of the things that makes Coinmama unique is that it allows you to purchase cryptocurrencies with a credit or debit card. Coinmama also has one of the easiest-to-use platforms out there, making it an excellent choice for those new to the world of cryptocurrency.

So, if you’re considering using Coinmama to buy or trade cryptocurrencies, read on for our full review.

Full Coinmama Review

Coinmama is a bitcoin broker/ crypto exchange that enables purchasing bitcoins with credit or debit cards and trading cryptocurrency. It offers users the facility to buy and sell bitcoins with ease, providing a platform that is both user-friendly and trustworthy. Coinmama also provides a unique service called “Coinmama Instant,” which allows users to receive their coins immediately after purchase. Overall, Coinmama is an excellent option for purchasing bitcoins with credit or debit cards. You can also use Coinmama to buy goods and services with Bitcoin and Ethereum.

Company Overview:

Established in 2013, the Coinmama crypto exchange is headquartered in Ireland. It has served over three million users globally. Coinmama was founded by Nimrod Gruber, Laurence Newman, and Ilan Schuster.

It is available in over 188 countries and 48 U.S. states, excluding Hawaii and New York. It gives various facilities for crypto exchanges. The most prominent facility is the variety of payment options. Users can utilize any payment method for crypto purchases, including debit cards, credit cards, Google Pay, Apple Pay, and Bank Transfers. This makes it easier for traders to sell bitcoin or exchange crypto.

Whether you want to sell bitcoin or sell crypto, Coinmama can be the best helper in this regard.

Performance and Features:

Coinmama is a famous exchange, allowing users to purchase and sell cryptocurrencies using fiat currency. The Coinmama platform offers a wide range of features and functions, making it an excellent choice for investing in the online currency market.

One of the critical features of Coinmama is its ease of use. The platform has a simple and user-friendly interface that makes it easy for even beginners to buy and sell cryptocurrencies. The Coinmama platform also offers a wide range of payment options, including credit/debit cards, bank transfers, and PayPal.

Coinmama also has one of the lowest fees in the industry. The platform charges a flat fee of 5% on all transactions. This fee ratio is significantly lower than the industry average, around 7%.

Another great feature of Coinmama is its customer support. The Coinmama platform has a dedicated customer support team available 24/7 to help users with any issues or questions.

Overall, Coinmama is an excellent choice for those looking for an easy-to-use platform with a wide range of features and functions. The low fees and excellent customer support make it a perfect option for those looking to invest in the digital currency market.

Top Perks of Using Coinmama Cryptocurrency Exchange

The top perks of using a Coinmama are given below:

High Spending limits

As you may already know, Coinmama has some of the highest spending limits in the industry. This is because we believe that our customers should have the ability to buy as much or as little cryptocurrency as they want without worrying about any sort of limit.

This is especially useful for such peers looking to invest in more significant amounts of cryptocurrency or for such peers who want to make sure they can always have a ready supply on hand. No matter your needs, Coinmama is here to help you get the most out of your cryptocurrencies!

These spending limits are based on your verification process and levels. These are explained below:

Level 1:

Once their identity verification process is done, all users begin at level 1. The monthly buying and selling limit at this level are $15,000 over 50 orders for all cryptocurrency exchanges.

Level 2:

Coinmama users reach Level 2 once they have $2,400 in cryptocurrency exchange. The monthly buy and sell cryptocurrency limit of Level 2 users is $50,000 over 50 orders for crypto exchanges.

Level 3:

Users achieve Level 3 when they get close to the monthly transactions limit of Level 2. The monthly buy/sell limit for Level 3 is $100,000 over 50 orders in all crypto exchanges.

More:

If you want to acquire even higher monthly limits, you can contact Coinmama for VIP verification, lifetime purchase, and custom limits.

Purchase and sell bitcoin with any Payment Method

Copinmama was the first crypto exchange platform to be authorized to purchase crypto through credit and debit cards and Apple Pay. It allows you to buy digital currency through:

SEPA bank transfer (in Europe)
any Visa or Mastercard credit or debit card
SWIFT bank transfers (in the U.K.)
Apple Pay
wire transfer facility(outside of Europe and the U.K.)

However, you can’t exchange the currencies directly on Coinmama. It only allows the users to buy with and sell for fiat currency. Whether you are a credit and debit cards person or who favors bank transfer or Apple Pay, Coinmama can be your best option to buy crypto or sell crypto globally.

Fast Verification Process

Every crypto exchange company or platform requires the identity verification of all users. Coinmama users also have to verify their identity.

As for Level 1, you only need to take a photo of the front and backside of your Government-issued ID and a piece of paper on which you’ve written “Coinmam” and that day’s date. Surprisingly, most Coinmama Reviews claim that user IDs are verified in 1o minute to a couple of hours. The most probable range for the ID verification process takes around 10 to 30 minutes.

Beginner Friendly Platform

Coinmama is a beginner-friendly platform that makes it easy to buy and sell cryptocurrencies and deal with bitcoin cash. The Coinmama company has been in operation since 2013 and is one of the most popular exchanges online. Coinmama offers a wide variety of coins, including Bitcoin, Ethereum, Litecoin, etc. The platform is simple to use and provides an excellent experience for those looking to get into the world of cryptocurrencies.

Affiliate Program

As a Coinmama affiliate, you can earn a commission on every sale you refer to Coinmama. They offer a very generous two-tier referral system, so you can make even more money by referring other affiliates.

The Coinmama affiliate program is free to join and easy to use. All you need is a website or blog where you can promote Coinmama. They will provide you with all the your requirements, including banners, text links, and creative content.

As a Coinmama affiliate, you will enjoy:

  • A very generous two-tier commission structure
  • Real-time reporting of your sales and commissions
  • Dedicated affiliate support

If you are interested in joining the Coinmama affiliate program, please fill out the form below, and the Coinmama team will get back to you as soon as possible.

Moreover, it keeps your trade safe with advanced features like hashed passwords, confirmation link, and many more security measures. It allows you to exchange fiat currencies with different exchange options.

Disadvantages of Coinmama:

Coinmama has been around since 2013 and is one of the most popular cryptocurrency exchanges. However, users should be aware of some cons to using Coinmama.

High Coinmama Fees

Coinmama is a popular cryptocurrency exchange that makes it easier for you to buy and sell Bitcoin and Ethereum. However, one of the major drawback of using the Coinmama exchange is its relatively high fees than other platforms. We will look at the fees charged by Coinmama and how they compare to other exchanges.

Coinmama charges a flat fee of 5% for each transaction. This is one of the highest fees any exchange charges and can make it very costly to buy and sell cryptocurrencies than other platforms. For example, if you were to buy $1000 worth of Bitcoin, you would be charged high fees of $50.

Coinmama also charges a network fee for each transaction. This particular fee goes to the miners who confirm transactions on the network. The network fee for Bitcoin is currently $0.30, and for Ethereum, it is $0.40.

No Crypto Wallet Service

If you’re interested in purchasing cryptocurrencies like Bitcoin or Ethereum, you’ll need to consider whether or not the platform you’re using offers a wallet service. Coinmama does not offer this service, which means that if you purchase crypto through their site, users are required to provide your wallet address. Crypto wallets are a must for cryptocurrency trading.

While this may not be a big hustle for experienced crypto users, it can be a potential downside for those new to the space. Without a wallet service, you’ll need to ensure you have a secure place to store your coins after purchase. Users will also need to be extra careful when sending or receiving payments, as mistakes could lead to lost or stolen funds.

Overall, not having a wallet service can be a bit of a hassle, but as long as you’re aware of the possible risks involved, it’s not a dealbreaker. If you’re looking for an easy and convenient way to buy crypto, Coinmama is still a great option. Just be sure to have your wallet address ready before you purchase.

Limited Currency Selection

Coinmama offers a limited selection of cryptocurrencies, which may disadvantage some users. The wallet address is not stored on the website, so users must provide their wallet address when purchasing. There is no way to keep cryptocurrency on the website, so the user must have his crypto wallet to use Coinmama.

When it comes to the hustle of buying and selling cryptocurrencies, several different options are available. However, when it comes to the limited currency selection of Coinmama, users may find that they are limited in their choices.

With Coinmama, users can buy and sell Bitcoin, Ethereum, Litecoin, and a few other popular cryptocurrencies. However, the selection of currencies is quite limited compared to other exchanges. This can be frustrating for users looking to invest in a wider variety of cryptocurrencies.

Limited Features

Another con is that Coinmama doesn’t offer a lot of features. The exchange only allows buying and selling Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This can be limiting for users who want to trade other cryptocurrencies.

Limited Crypto Space

Finally, Coinmama is not available in all countries. The exchange is only available in Europe, the United States, Canada, Australia, and Singapore. Limited Crypto Space can make it difficult for users to access the platform in other parts of the world.

Overall, Coinmama is a popular cryptocurrency exchange with some drawbacks. Users should know the high fees and limited features before using the platform.

How does Coinmama Exchange Work?

Have you ever wanted to buy bitcoin or another cryptocurrency but didn’t know how? Coinmama makes it easy. Simply create an account, verify your identity, and link your credit or debit card. Then, you’re ready to start buying!

Coinmama offers a QR code scanner to easily and quickly buy bitcoin or another cryptocurrency. All you require is your credit or debit card and a QR code scanner. After you’ve scanned the QR code, you’ll be taken to a page where you can enter the amount of bitcoin or another cryptocurrency that you want to buy.

It’s that easy! With Coinmama, you can easily and quickly buy bitcoin or another cryptocurrency. All you require is your credit or debit card and a qr code scanner. So what are you waiting for? Create an account today and start buying!

Coinmama Fees Overview:

Coinmama is a popular and most accessible cryptocurrency exchange that allows users to buy and sell digital currencies. The Coinmama platform has been around since 2013 and is one of the most popular exchanges in operation today. One of the advantages that make Coinmama stand out is its low fees. The team behind the platform has worked hard to keep costs down, making it one of the most affordable exchanges to use.

Coinmama has a simple fee structure. The platform charges a flat fee of 5% on all trades. There are no other fees or commissions charged. This facility makes it one of the most affordable exchanges to use, especially for those who trade frequently. In addition, Coinmama does not charge any deposit or withdrawal fees. This means that you can get your money in and out of the platform without having to worry about any extra costs.

The Coinmama platform is easy to use and has a very user-friendly interface. In addition, the team behind the platform is constantly working to improve the experience for users. If you’re looking for an affordable, user-friendly option for buying and selling cryptocurrencies, Coinmama is definitely worth considering. A few Coinmama Loyalty levels are:

  • Crypto Curious: Crypto Curious level allows you to pay the standard fee.
  • Crypto Enthusiast: You can purchase $5,000 over a rolling 90-day period and save 12.5%.
  • Crypto Believer: You can purchase digital currency for $18,000 over a rolling 90-day period or you can also get a lifetime purchase of more than $50,000 and save 25% via debit card transactions, bank account transfer, or any other payment method. It offers exchange rates the same as in the cryptocurrency world.

Crypto Exchange Selection:

There are many different cryptocurrencies available on Coinmama. Here is a brief explaination of some of the most popular ones:

  • Bitcoin: Bitcoin is the original and most widely-used cryptocurrency. It is based on a decentralized peer-to-peer network and can be used for a variety of purposes, including making payments and purchases online.
  • Ethereum: Ethereum is a popular cryptocurrency that enables smart contracts and decentralized applications. It is based on a blockchain platform and has its native currency, ether.
  • Litecoin: Litecoin is a fork of Bitcoin designed to be faster and more lightweight. It uses a different hashing algorithm than Bitcoin and has a foreign transaction structure.
  • Bitcoin Cash: Bitcoin Cash is also a fork of Bitcoin created to address some of the issues with the original Bitcoin blockchain. It has a larger block size and uses a different hashing algorithm.

Other cryptocurrencies available on Coinmama are:

  • Ripple (XRP)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Tezos (XTZ)
  • EOS.IO (EOS)
  • Qtum (QTUM)

Are Your Crypto holdings safe with Coinmama?

It’s important to know that your cryptocurrency is safe when using Coinmama. Here are a few things to keep in mind:

  • Coinmama stores your coins in a secure, offline wallet. This means that your coins are not susceptible to hacking or theft.
  • Coinmama requires two-factor authentication for all accounts. This facility adds an extra layer of security to your account.
  • Coinmama has a strict policy of never sharing your personal information with any third party.

These are just a few ways that Coinmama keeps your coins safe. When you use Coinmama, you can rest assured that your cryptocurrency is in good hands. Coinmama charges no fees to secure user funds.

Security (Coinmama):

As one of the leading cryptocurrency exchanges, Coinmama places great importance on security. A few safety (Coinmama) features are:

Two-Factor Authentication

One of the most critical security features that Coinmama offers is two-factor authentication. Two-factor authentication adds an extra coat of security to your account by requiring you to enter a two-factor authentication code from your phone in addition to your password when logging in. This means that even if someone knows your password, they won’t be able to access your account unless they also have your phone.

In order to set up 2FA, you’ll need to download an authenticator app like Google Authenticator or Authy. Once you have the Coinmama app installed, you can add Coinmama as a new account and follow the instructions to set up 2FA.

Multi-Signature Wallet

Another critical security feature offered by Coinmama is our multi-signature wallet. A multi-signature wallet is a digital wallet that requires more than one private key to access. Multi-Signature Wallet means that even if someone were to hack into your Coinmama account, they would not be able to use your coins unless they also had the other private keys.

In order to set up a multi-signature wallet, you’ll need to generate two sets of private keys – one for yourself and one for Coinmama. Once you have both keys, you can add them to your Coinmama account and enable the multi-signature security feature.

SSL Encryption

Coinmama uses SSL (Secure Sockets Layer) encryption to protect your personal information and keep it safe from hackers. SSL facility is a security protocol that encrypts data before it’s sent over the internet. This means that even if someone were to intercept the data, they would not be able to read it.

Coinmama also uses HSTS (HTTP Strict Transport Security) to protect your data further. HSTS is a security policy that tells browsers to only communicate with websites using HTTPS, the secure version of HTTP. This helps prevent man-in-the-middle attacks, where hackers try to intercept communication between a website and a user.

Coinmama takes security seriously and offers several features to keep your account safe. Using 2FA, a multi-signature wallet, and SSL encryption, you can rest assured that your budget and coins are well-protected.

Coinmama is suitable for you if:

  • You’re one of the novice crypto investors.
  • You’re a beginner in buying and selling cryptocurrency.
  • You live in the U.K. or Europe.
  • You can afford the high transaction fees of Coinmama.
  • You like to purchase and sell crypto with credit or debit cards or direct bank transfer.

Coinmama receives the most positive feedback from its users than other platforms. So, when are you going to register yourself with Coinmama?