However this is just standard Know Your Customer and Anti Money Laundering policies most legit exchanges must adhere to. Coinmama was established in 2013 in Israel and has since grown to serve over 2m customers in over 188 countries with over 30 employees.
Basically a utility bill for electricity, water, bank or credit card statement. The services are however restricted for countries and jurisdictions under sanctions, including North Korea, Cuba, Iran, as well as Syria, Lebanon, Sudan, and South Sudan. Though the exchange is based in Israel, Coinmama does not offer its services to the country’s residents. Coinmama is available worldwide, with its services accessible in over 190 countries across Europe, Latin America, the Middle East, and Africa. The exchange is also regulated in some US where Coinmama has received money transmitter licenses.
Is Coinmama Safe?
An image of you holding a piece of paper saying “Coinmama” with today’s date. Once you have logged into your account, navigate to the Buy page, and select what you’d like to purchase – in this case, I’ll assume that it’s Bitcoin. Non-deposit investment products, such as CoinMama are not insured by the FDIC. Closely related to the previous type of scam, someone contacts you posing as a “CoinMama Agent.” CoinMama doesn’t do phone support, telemarketing, or direct sales. In case you are contacted this way by anyone representing CoinMama, get in touch with CoinMama through the official email, or social networks.
How do I withdraw money from Zengo?
EASY ACCESS TO FUNDS
Withdraw cash with a Debit Card at any ATM or spend anywhere Mastercard is accepted.
Cmama Ltd is a regulated entity and is registered with FinCEN. Writers and editors conduct our reviews on an annual basis but continually make updates throughout the year. We maintain frequent contact with providers and highlight any changes in offerings. Keep updated with our round the clock and in-depth cryptocurrency news. The exchange pays out the commissions once every month after you hit $100 from the time of the last payout. It features a clean interface, without all the graphs and charts that may disorient and discourage new users.
Buy And Sell Cryptocurrency
It is a non-custodial platform, meaning that you should own a private cryptocurrency wallet before you start using the service. Many users are using it because of its fast-track verification process, many payment methods, and availability in so many countries.
One thing to keep in mind is that you have 30 minutes before you place an order and confirm your wallet address. To gain and maintain the Believer status you need a cumulative purchase amount of 18,000 USD over a rolling 90-day period.
And our partners can never pay us to guarantee favorable reviews . Since Coinmama offers a relatively small number of coins to choose from as well as comes with pretty high fees, you should consider another cryptocurrency broker exchange. Most cryptocurrency exchanges can be really scary when you are just starting out.
- Coinmama has a partnership with crypto wallet ZenGo, which it recommends for new users without a crypto storage wallet.
- However, this is to be noted that there are no withdrawal fees on the Coinmama exchange.
- PitchBook’s non-financial metrics help you gauge a company’s traction and growth using web presence and social reach.
- Now you will need to enter your full name, choose a strong password and enter your country of residence.
- The sending limits increase with each level of verification.
- The platform was established to create the simplest financial service in the crypto space.
Selling cryptocurrency with Coinmama is currently available to customers in Europe that are part of SEPA. This is crucial, because sometimes a day or two can mean wide price fluctuations in Bitcoin.
Comments On coinmama Review
Note that you’ll need to already have a digital wallet that you use since coinmama review is not a wallet provider and doesn’t hold coins for you. Once you sign up for an account on Coinmama, you can buy or sell the following cryptocurrencies supported by Coinmama. As highlighted earlier, the exchange has support for instant purchases using credit/ debit cards and bank transfers. Coinmama was founded in 2013 and is registered in Slovakia.
Many or all of the products here are from our partners that pay us a commission. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.
Coinmama Review Summary
Once your account is set up and verified, all you have to do is log in and select the coin you want to purchase. The platform displays easy options with exchange rates listed in your local currency. You’ll select the amount you want to purchase, then enter your payment method and your wallet address to complete the transaction. Coinmama users can buy bitcoin, bitcoin cash, litecoin, ethereum, tezos, ripple, cardano, dogecoin, uniswap and chainlink. However, users can only sell bitcoin for fiat currency (such as U.S. dollars) on the exchange. That may be a turnoff to users looking to cash in other cryptocurrencies or make cryptocurrency-to-cryptocurrency trades.
— Bobby1904 (@bobbyoflondon) December 17, 2021
Since the genesis, Coinmama is trusted by over 2,300,000 people across 197 countries. It makes sense that no cryptocurrency was stolen from Coinmama.
Coinmama offers you the choice of continuing with your desktop or switching to your mobile phone. For demonstrative purposes, we will keep going with the desktop. Firstly, you will need to choose your Government ID Type and issuing country from the drop-down menus. The more referrals an affiliate makes, the more Coinmama pays in Bitcoin.
Having been launched back in 2013, Coinmama was also amongst the first to support the purchase of Bitcoin with credit and debit cards. However, if you’re looking to trade cryptocurrency with other individuals, Coinmama won’t be the right crypto investing website for you. Instead, you’ll want to look other sites like Coinbase, Gemini, or eToro. For more options,check out our full list of top cryptocurrency exchanges. Coinmama allows its customers to exchange fiat currency such as dollars or euros for cryptocurrency. Finding a reputable cryptocurrency exchange can be difficult. It seems like every other day, a cryptocurrency exchange is getting hacked and user funds stolen in the process.
For this, you need to provide your credit card information or bank account numbers. Coinmama is one of the oldest cryptocurrency exchanges in the world and has earned a name for itself as a safe platform to quickly buy and sell cryptocurrencies. It accepts Visa and Mastercard and supports all fiat currencies. Its fast delivery of purchased digital assets and high spending limits adds to the appeal.
— Raj Gupta (@SengokuSir) December 17, 2021
Earn 15% of Coinmama’s commission on all referral purchases included all their future purchases. There are three steps before you can buy and sell coins on Coinmama.
Author: Milko Trajcevski