Other crypto assets must move to another exchange where sell transactions cost less. This guide splits the Coinmama purchase flow into fourteen clear steps, covering sign‑up, verification, payment, and wallet delivery. Keep it nearby while buying crypto for a smooth first transaction experience. Coinmama is a crypto platform that sells coins directly to customers rather than matching buyers and sellers in an order book.
- Coinmama’s fees are based on the TradeBlock XBX Index, which is the market rate based on all known providers.
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- For users interested in more interactive or advanced learning experiences, exploring the best Coinmama alternatives may offer expanded educational and trading tools.
- Many leading cryptocurrency exchanges provide an online (hot) wallet, but the downside is they have access to your private keys.
- Bybit is primarily known as a derivatives exchange but also offers options for purchasing cryptocurrencies with credit cards.
- Verified eToro clients can transfer crypto-coins from the eToro trading platform to the eToro wallet which supports Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM.
After you have signed up for a Coinmama account simply specify the amount of Bitcoin you want to buy, enter your payment details and confirm your crypto wallet address. Coinmama traders can purchase Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Cardano (ADA), Litecoin (LTC), Tezos (XTZ), Ripple (XRP), Dogecoin (DOGE). Nevertheless, clients can only sell Bitcoin for fiat currencies including US dollars and UK pounds on the crypto exchange. This can be somewhat of a turnoff for traders interested in selling other altcoins or executing crypto-to-crypto exchanges. What beginners love about Coinmama is how easy it is to buy and sell cryptocurrencies. You don’t have to deposit funds, wait for them to clear and then buy your cryptocurrencies.
It is ideal for people that have coinmama exchange review never used or seen a trading platform. The brands listed on this site are carefully researched, and we may earn fees from some. However, our recommendations are driven by our independent opinions. The information provided on this site is for educational purposes only and we strongly encourage you to do your own research before making any decisions. The team at CryptoVantage.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. We advocate for you to do your own research and make educated financial decisions.
Registration Process
The first step is to open an account and wait for verification. As Coinmama is an MSB (Money Services Business), you must provide the details as asked for KYC reasons. Providing your email address, full name, address, and other relevant information helps to protect your account. It’s a good idea to create a strong password and then submit your application.
- It offers a great, beginner-friendly platform that lets users purchase Bitcoin and other staple cryptocurrencies.
- As Coinmama’s fee structure is unclear, I wanted to test the fees for each of the above payment methods with $1000.
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- Advanced traders who require limit orders, staking, or margin trading will likely migrate to other crypto exchanges after making their first buy.
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Coinmama supports purchases in USD, EUR, GBP, AUD, and CAD. The fiat currency support list continues to grow, giving residents of many regions an easier path from bank account to crypto wallet. When you place an order in a non‑USD currency, Coinmama applies a small conversion spread on top of the listed coin price.
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At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details. Generally, it can take from a few minutes to several hours. However, during times of high demand, the verification process may take longer.
The second Coinmama fee to worry about when purchasing cryptocurrencies is the credit card processing fee. This fee applies for both credit card and debit card-based transactions. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Coinmama was previously hacked, resulting in the comprise of 1.4 million customers’ details. However, the exchange has since increased its awareness of account security by regularly monitoring any suspicious activity and informing customers of good security practices.
The platform maintains competitiveness by pricing according to the XBX index plus a reasonable fee structure, thus positioning its financial service offerings attractively within the marketplace. It is a legitimate online crypto marketplace that has been around since 2013. It can be used in 190 countries worldwide and has over 3 million users. Crypto Enthusiast – cumulative purchase amount of $5,000 USD over a rolling 90-day period. The platform also provides an FAQ section, but it is limited. As mentioned previously, it displays inaccurate information on fees, leading me to believe some of the content is outdated.
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Payouts arrive via SEPA for euros or SWIFT for United States dollars, and bank handling fees can shave another 15 USD off the final receipt. Active traders often route coins to a full order‑book exchange or a peer‑to‑peer desk where the combined cost of off‑loading BTC can fall under two percent. 1) Coinmama is very easy to use, perfect for beginners in the world of cryptocurrency. To buy cryptocurrency, simply click buy, select the coin you want to purchase, and the amount in fiat currency, and click Buy Now. There is no need to place an order on the market, or watch price fluctuations. Coinmama is a functional platform for buying and selling cryptocurrency.
Coinmama Review
Take a good-quality picture of the ID and upload it to your account for verification purposes. Coinmama’s sell rates are determined by the TradeBlock XBX Index market rate plus 2% and a selling fee between 0.9% and 1.9%. A useful tip to help you ensure there are enough funds on your card is by dividing the sum amount you are interested in spending by 1.05. For example, if you have a budget of $2000 simply divide it by 1.05, and therefore the amount you can spend when selecting how much crypto to purchase would be $1,904.76. In this section of our Coinmama review 2025, we will cover what cryptocurrencies and markets you can access. When certain information isn’t readily available, a newbie might ask, “What are they hiding?” for example, the website does not list Coimama fees.
Supported Crypto & Trading Pairs
The views expressed on this site do not constitute investment advice. Before making any high-risk investments in cryptocurrency or digital assets, please conduct your own thorough research. All transfers and transactions are carried out at your own risk, and any resulting losses are solely your responsibility.
Wire transfers appeal to larger orders because the commission drops to two percent when the ticket exceeds five thousand United States dollars. SEPA credits land within one business day for customers in the euro zone, while SWIFT deposits from other regions settle in two to three days. The minimum order sits at fifty United States dollars, and the daily ceiling for a Level One account reaches fifteen thousand. Payment methods include credit debit card, Google Pay, Apple Pay, bank account transfers through SEPA or SWIFT, and wire transfers for higher amounts. Each pathway comes with its own commission fee, and card payments are the most expensive. All card data stays with certified payment processors rather than the Coinmama website which reduces the risk of data leakage.
Customer Support and Education
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We work hard to keep all prices, statistics, and other data complete and up to date; however, real-time accuracy cannot be guaranteed. Fill out the verification form with your full legal name, date of birth, phone number, and residential address exactly as they appear on your driver’s license or passport. Coinmama uses automated address validation software; mismatched data may stall the application and push you back in the review queue. If you are after a safe and quick way to buy and sell the most popular cryptocurrencies, then Coinmama is the crypto marketplace you should use. Coinmama has an educational resource called Coinmama Academy, a database of blog articles set up to help newcomers understand crypto. Its content focuses on the basics of crypto, which I think is awesome to see a smaller exchange like Coinmama put effort into.
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