Coinmama Review 2025: Features, Fees, Pros & Cons Explained

Coinmama Review 2025: Features, Fees, Pros & Cons Explained

Coinmama is a reputable platform for buying and selling cryptocurrency that’s been in operation since 2013. To ensure the security of its customers, Coinmama does not store your credit or debit card details in its system. Unlike most cryptocurrency exchanges, Coinmama is designed like an instant crypto swap service rather than a trading platform. As a result, Coinmama enables the purchase of digital assets, but no funds are stored directly on the exchange, significantly reducing the risk of a digital attack. Although Coinmama keeps its exact security measures under close wraps, the platform offering two-factor authentication and being non-custodial helps to keep users safe.

• The only issue is that Coinmama offers relatively high fees when purchasing coins with fiat money.
• Any exchange with a US Dollar trading pair will allow you to sell your Bitcoin for fiat currency.
• First, it allows Coinmama to make a higher profit on each purchase.
• The most famous crypto derivatives exchanges is Bitmex which offers up to 100x leverage.
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• BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.

Coinmama’s fees are among the highest in the cryptocurrency exchange market. The platform advertises a service fee ranging from 0.99% to 3.9%, depending on user loyalty levels. However, in practice, fees can vary significantly based on payment methods and currencies, sometimes reaching between 10% to 15% for transactions around $1,000. While fees are displayed before purchase, the platform lacks a detailed breakdown, making it challenging for users to understand the exact cost structure.

The site is fully mobile-friendly and easy-to-use, so buying and selling will be just as easy on a phone or tablet. Whichever channel you use, you can expect an answer within 24 hours. For those who qualify for level 2 or level 3 in the loyalty program, that response time can be even faster.

Supported Fiat Currencies and Deposit Methods

On the other hand Coinbase has its regular exchange called Coinbase and also Coinbase Pro. The drawback is that you have to know how to use a trading platform. To clarify it is before you are allowed to buy or sell any cryptocurrency from the platform. Since they are registered as a financial service, Coinmama have committed to the highest security standards. They verify accounts thoroughly to keep customers safe and combat fraud.

We champion verified reviews

The best way to buy Bitcoins at a Walmart is to find one that has a CoinStar machine. These coin machines will pay you out in Bitcoin, but you will need a lot of coins as well as be okay with paying a high fee. The more you buy or sell with Coinmama the more you save on fees. Be forewarned though that level 2 and level 3 verification may take up to six hours or more. Coinmama, based in Israel and founded in 2013, is a property of NBV International, which is a daughter company of New Bit Ventures Ltd company. The executive team consists of Asaph Schulman (CEO), Nimrod Gruber (Co-Founder), Martin Koelbaek (CHO), Guy Ben-Yossef (CFO), Yaki Oliel (CRO).

To be eligible for this status, you need to have been buying coins with Coinmama for thirty days. You also must have spent $18,000 over 90 days or $50,000 over a lifetime. Being a Believer entitles you to the fastest customer support. In conclusion, while there are fees with Coinmama, your Loyalty Level can offset some of these charges. As the world’s largest crypto exchange, Binance lists hundreds of cryptocurrencies. It also has some of the lowest trading fees and most advanced technical tools on the market.

Cryptocurrencies Supported

This can become really expensive if you’re purchasing cryptocurrencies in large amounts or on a regular basis. It’s a real shame that most cryptocurrency exchanges are not regulated by any governmental department, however, Coinmama is in fact registered with FINCEN in the U.S. This shows that the exchange is very reliable and that any fraudulent activities on their site will be investigated accordingly. When you enter your card details and make a purchase with Coinmama, your coins are sent to your private wallet as soon as the payment goes through!

How to reach Coinmama customer support

• What we’ll do here is to show how much crypto you can buy at the various KYC levels.
• On Coinmama you can buy Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple XRP, Cardano, Litecoin and QTUM.
• Deciding which cryptocurrency exchange to use can be difficult as there are hundreds of different options to choose from.
• For those who qualify for level 2 or level 3 in the loyalty program, that response time can be even faster.
• Not all cryptocurrency platforms support credit cards or the use of a debit card but Coinmama does.
• Coinmama is a regulated exchange that holds no user assets.
• Coinmama offers ether and bitcoin calculators so you can plan your potential purchases, but keep in mind the calculator doesn’t include Coinmama fees.

Coinmama does indeed have a KYC verification program that investors will need to complete before they can purchase cryptocurrencies on their platform. For anyone who wants to use a credit card or debit card to buy Bitcoin there is a full guide available on Coinmama’s website. Coinmama charges a commission each time someone uses their platform to buy Bitcoin or any other cryptocurrency.

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One thing you can do from your end it to always make sure to pick a secure password. One that is unique to Coinmama if you choose to sign up with them. So at least you know you have done your bit to stay secure.

Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. One of the most frustrating parts of buying cryptocurrency is that so many exchanges don’t allow you to use fiat money. Instead, they normally ask you to deposit using another cryptocurrency (such as Ethereum) that you obviously can’t do if you don’t have any! Any exchange with a US Dollar trading pair will allow you to sell your Bitcoin for fiat currency. Coinbase Pro and Kraken have USD trading pairs for many popular coins.

Supported Fiat Currencies

Then, there is a commission fee of as much as 3.9% on Buys and up to 0.9% on Sells. If you are using a credit or debit card, there is a 5% momentum fee. But, if you’re making a transaction using a SEPA transfer, you will incur no additional fee. Coinmama is recommended for traders of all experience levels. The cryptocurrency industry can be volatile, and there are a lot of coins from which to choose.

Coinmama doesn’t provide a wallet as many other exchanges do, but that’s not necessarily bad. It’s essential to choose a secure crypto wallet and research which one is best for the coins you wish to buy. It may seem inconvenient that Coinmama doesn’t coinmama review provide an online wallet.