Coinmama Review

Coinmama has 3 levels of verification for crypto purchasing, each requiring more details than the last. Those are lifetime account limits, so if you reach the limit for a level, you need to apply for the next one. After the first level, each subsequent level has a spending prerequisite before you can apply. Investing in cryptocurrencies, Decentralized Finance (DeFi), Coinmama Review and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies, nor can the accuracy or timeliness of the information be guaranteed.

Coinmama Review

A bank transfer will take, on average, somewhere between 1 and 3 business days to process. Once Coinmama receives your order, coins will show up in your account in around 20 minutes. Level 1 users will have a maximum buying limit of 15,000 USD with a credit/debit card. The team is well-equipped to help and can field a number of support questions. These include information and troubleshooting on how to buy and sell, account management, help with the verification process, and how to link up a wallet. Bitcoin is currently the only digital currency that users can sell to Coinmama.

How do we review cryptocurrency platforms?

I used the chat feature and they said it was a security concern, but they would not tell me what it was. Bitstamp’s brokerage service is almost identical to Coinmama’s. Bitstamp is one of the oldest and most respected exchanges out there, so it’s a solid alternative for Coinmama. Also, just like Coinmama, the exchange supports a wide variety of countries worldwide.

Coinmama Review

So I download the authentication app and completed the 2fa process. Still not good enough…I received another email saying that they did not have a selfie WITH an Id. I wrote back and said that this was already sent when you…coinmama…originally requested the docs.

Is CoinMama Safe? Is it a Legit Exchange?

Today the service has over 2.5 million users in some 188 countries around the world. It runs under the watchful eye of parent company New Bit Ventures. 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. Most cryptocurrency exchanges can be really scary when you are just starting out.

  • Bitstamp’s brokerage service is almost identical to Coinmama’s.
  • While the ability to use credit or debit cards to buy crypto is convenient, it’s not cheap.
  • The easiest way to open an account is to choose and enter the amount of cryptocurrency that you want to purchase, and press Buy.
  • Yes, Coinmama does require a valid government issued ID in order to purchase cryptocurrencies on their platform.
  • Coinmama supports Visa, MasterCard, ApplePay, SEPA, and some more payment options.

Customers buy and sell directly with the company, so orders fill instantly and without any hassle. You cannot deposit cryptocurrency into the platform, but you can sell bitcoin directly to Coinmama by using your account. Coinmama is an extremely simple and straightforward platform to use, making it a great option for beginners looking to buy and store cryptocurrency safely and securely.

Coinmama Review: A Beginner-Friendly Platform to Buy Crypto With a Credit Card

Coinmama provides a safe and is the best cryptocurrency exchange in Germany community to buy and sell Bitcoin. Coinmama never stores the payment information of any client, like their bank account details or wallet addresses, which helps protect the user’s funds or bank account details. Clients can use third-party broker wallet addresses to control their Bitcoin holdings fully. Coinmama is an exchange that was founded in 2013 in Israel. Later on, Coinmama registered in Dublin, Ireland, under the name New Bit Ventures Ltd.

Coinmama Review