It is for such enthusiasts who craved for a change in the crypto industry. Eligibility for Crypto Believer depends on whether you have been buying for a minimum of 30 days.

However, there is some difference between the services provided to individuals and businesses. Buy Bitcoin Worldwide receives compensation with respect to its referrals for out-bound crypto exchanges and crypto wallet websites. It offers a wide range of payment methods and has good prices. But, the payout can only be made via a SEPA bank transfer, limited to European customers. We cover everything from supported countries to the fees you’ll pay as well how to make your first purchase. Undoubtedly, an added benefit is that users can also sell Bitcoin for fiat money. Since Coinmama neither holds cryptos on the exchange nor stores customer information, there is no 2-factor authentication.

Enter the amount or choose one of the packages offered on the platform. It is enough to press the Sign-up button located in the upper right corner and provide an email address, password, and select the country you are located in.

If you are looking to have quick access to crypto and send it to your own hardware wallet or another exchange-hosted wallet for trading, Coinmama is for you. It doesn’t need you to be tech-savvy, as the design is both simple and effective. It provides a platform for users to buy, sell, and exchange cryptocurrencies.

Moreover, this the best crypto exchange will give detailed information about the crypto exchange. This includes its fees, supported countries, and the company itself. Other things we’ll talk about are the withdrawal and deposit, safety & security. Also, we will take a look at its fantastic support among other important factors. Coinmama was created to provide an alternative cryptocurrency exchange for crypto lovers. Besides, the platform is for investors who were not satisfied with the below-par performances of existing crypto exchanges.

Maintaining this status necessitates an amassed purchase sum of $18,000 during a period of 90 days. Buy orders made with bank transfers do not incur any additional fees whereas transactions made with a fixed crypto rate and instant delivery incur an added 5% express fee.

Trading Platform

However, if you make your purchase with a credit card, you may be charged an extra 5%. Alternatively, you will be charged less than $10 for using a credit card. As soon as the money goes from your account to Coinmama, you will get your coins directly and right away. Time is an essence with cryptocurrencies since they fluctuate a lot in price, and a single-day delay may mean a high loss in money. What is also good about Coinmama and buying Bitcoin on this exchange is that the price for Bitcoin becomes “frozen” as soon as you submit your order.

However, Coinmama does encourage customers to enable 2FA on their wallets to prevent theft. You reach this level after building up your crypto portfolio to the required amount. Benefits that Crypto Enthusiasts enjoy include fast-tracked customer support and a 12.5% discount on Coinmama fees. When buying crypto via a bank transfer, Coinmama limits the order amount at $1,000. If you have to transact with amounts less than $1,000, you will incur a ‘below the minimum fee’ of £20 ($25.78). United Kingdom-based buyers who choose to use SWIFT Faster Payment or SEPA are not subject to ‘below the minimum fee’. Yes, we think that Coinmama is safe to use for several reasons.

BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. In the next section of this Coinmama review, I will show you how to verify your account. So, even though you can only purchase the two most popular cryptocurrencies, both BTC and ETH will allow you to trade with all the smaller, less popular cryptos.

The more transactions you complete, the higher your chances of saving more on fees. While the appropriate authorities regulate the exchange, Coinmama also regulates its customers’ activities. These factors include credit card purchase, cash purchase, and verification status. For instance, in addition to the purchase restrictions imposed on users’ levels, the exchange also sets a minimum purchase of 0.1 Bitcoin. The price depends on the Bitcoin price at the time of sale. Coinmama is well known by its customer support team, which is ready to solve your issue 24/7 via a call and an e-mail.

Coinmama is a digital financial service company operating in the cryptosphere ever since 2013. It has gained a lot of respect in this space, owing to the safe and fast access to digital currencies like Bitcoin and Ethereum. Coinmama users can buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos and EOS. However, users can only sell Bitcoin for fiat currency (such as U.S. dollars) on the exchange.

  • Crypto Believers enjoy the best customer support Coinmama has to offer.
  • However, Coinmama does encourage customers to enable 2FA on their wallets to prevent theft.
  • In order to change the purchase currency, simply go to the current dropdown menu and select your preferred currency.
  • Coinmama is a non-custodial cryptocurrency broker from Israel that is incorporated in Europe, Slovakia.

Extra careful traders might want to find an alternative in our top list of UK brokers. The platform interface is also very user-friendly and easy to use. Still, unless you are a professional trader using an advanced trading platform, they would be similar on other trading platforms as well . This Coinmama review will take you through the step-by-step guide to opening an account and buying cryptos using this platform. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions.

Coinmama Fees And Limits

That may be a turnoff to users looking to cash in other cryptocurrencies or make cryptocurrency-to-cryptocurrency trades. Founded in 2013 in Tel Aviv, Israel, and now with offices in Dublin, Coinmama says it has more than 2.6 million users in 188 countries.

At this initial stage, it allowed its clients to pay for BTC via Western Union which increased its popularity. Quick Bitcoin is a speedy UK-based exchange that handles transactions using standard bank transfers, which allow transactions to be completed in less than 10 minutes.

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Most users heap praise upon the Coinmama customer service. Customer service representatives are eager and able to help, often sorting out seemingly impossible problems. The identity verification process is the subject of many user complaints as well. One user says that he/she contacted support and learned that Coinmama had restricted its sell services to SEPA banks only, even though the site said it worked with SWIFT as well. He is committed to share everything he knows about crypto here at Crypto Digest News. Since Coinmama will deliver cryptocurrency straight into your wallet, it is unlikely for their platform to get hacked and lose customer’s funds in the process.

At Coinmama, people can choose any crypto pair of their choice from the long list of cryptocurrencies that the exchange supports. In the Level 3 verification process, traders are required to fill the form at the Coinmama exchange’s website. In the Level 2 verification process, the traders need to upload a secondary ID and a valid utility bill. There are 3 Coinmama verification levels procedures that the users need to go through for making any kind of purchase. These fees are in line with the industry standard, but may be unattractive to those used to trading spot markets. Getting started on Coinmama exchange is a relatively simple process and most users should be up and running within minutes.

The challenges he faced trying to buy Bitcoin himself encouraged him to run a service that will simplify this process and make it easy for everyone. Coinmama verification is some of the fastest in the industry. Usually, Coinmama takes about 10 minutes to verify your account. Whenever you’re evaluating a new cryptocurrency exchange, it’s always important to ask if you can even use it in the first place.

Nonetheless, the platform does offer discounts for those transacting regularly and offers custom packages for those dealing with large volumes. With that said, Coinmama did suffer a data breach resulting in the personal data coinmama review of 450,000 Coinmama customers stolen by an unknown hacker. Fortunately, the firm worked to immediately remedy the situation, and there is no indication that anybody suffered financial loss as fallout from the breach.

Supported Currencies On Coinmama

You can also sell BTC and receive cash via SEPA transfer if you are living within the EU. Again, the company has grown cryptocurrency news into one of the most popular platforms to purchase Bitcoin and other cryptocurrencies with Visa or MasterCard.

Supported Coins On Coinmama:

However, there are fees for purchasing cryptocurrencies with credit or debit cards and through your bank account. The exchange has a 2% fee on the normal rate and also a 3.90% for buying crypto and 0.90% fee for selling crypto. Regarding the SWIFT transferred there is a minimum of 20 GBP for orders under $1000. After you enter the personal wallet address, you will be directed to a page where you will be asked to select the multiple payment options that you prefer. There is a drop-down menu with multiple options like a credit card, debit card, wire transfers. For this, you need to provide your credit card information or bank account numbers. Coinmama is a non-custodial cryptocurrency broker from Israel that is incorporated in Europe, Slovakia.

The latter is a company registered under company number #672704. Customer support is one of the important things that the company emphasizes on. After all, being customer-centric is part of what they call the “Coinmama DNA” which is basically the core values of the company.

Автор: Steve Goldstein