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. I received another email for proof of address and this time…they…coinmama…was NOT accepting prrof of address by email. Wonderful…I was informed that a special link would be included on their website for me to upload the “newly” requested proof of address!
Once you finish the process, you can use your credit or debit card, or your bank account, to begin purchasing coins. The primary benefit of Coinmama is that it’s simple to use. It’s straightforward, which allows you to purchase cryptocurrencies using fiat currency. For those who want an easy way to buy coins, Coinmama could be a quick solution because of the simple transaction process. There aren’t any advanced services and there’s no way to hold your coins on the exchange.
How to Purchase
When it comes to cryptocurrency exchanges there are several different types. Spot exchanges, derivative exchanges and buying platforms. Limits for credit and debit card transactions may be lower and could be affected by your bank or card issuer’s daily transaction limits.
- The platform has a limited range of cryptocurrencies, all established, well-known tokens.
- Coinmama is a cryptocurrency exchange that offers investors a straightforward buying and selling experience.
- The site is available for almost everyone, serving 226 countries and the majority of U.S. states.
- Case studies carried out by commentators have suggested that it users should add an additional 10% in fees when transacting through Coinmama.
- All credit card purchases incur a 5% commission which is fairly typical and certainly a lower commission than some other platforms.
- At present, Coinmama is only currently available as a website, with no mobile app available.
The orders are executed as soon as Coinmama receives your payment, which depends on your chosen payment method. All in all, Coinmama is a trustworthy and secure crypto broker. It may not be an ideal option for privacy enthusiasts, but it is a solid way to acquire coins and deposit them directly into your wallet. Buy orders placed with a SWIFT bank transfer must be worth at least USD 1,000, and any amounts below incur a fixed USD 20 fee. This fee doesn’t apply to SEPA and SWIFT Faster Payment (the UK only) transfers.
Table of Contents
This Coinmama review will take a look at what you can expect from the exchange and help you decide whether using Coinmama is right for you. Coinmama is a reputable broker with great customer support. While you’re likely to pay more for purchases via Coinmama compared with other centralized exchanges, bank card payments typically come with higher fees. Besides that, Coinmama is a great option for beginners who want to learn how to buy and store crypto safely and securely. Yes, the exchange supports storing cryptocurrency within the propriety Coinmama wallet.
USDT (ERC20) seems to have lower fees than what I describe below. The below fees are from me testing https://www.tokenexus.com/coinmama-review/ various purchases of Ethereum. Quick responding and supporting team, easy going, learning a lot!
