CoinMama Review - Why Crypto Enthusiasts Love It?
Coinmama is an Israeli bitcoin dealer.
If you're looking for the best cryptocurrency exchange, Coinmama is the one for you.
We cover all aspects of bitcoin, from paying for sponsored countries to purchasing your first Bitcoin.
We'll review multiple aspects to determine if Coinmama really is the best bitcoin broker.
Here you'll find answers for some commonly asked questions about Coinmama and selling bitcoins in general at the end.
I swear that crypto trading is good. It uses the same skills, but it's more lucrative.
Coinmama Review: Background
Coinmama was founded in 2013. It was established in 2013.
New Bit Ventures, LLC manages the US operations. They are regulated by FINCEN.
Coinmama has been around for a while and is known for their European clients.
Coinmama doesn't allow you to exchange cryptocurrency. You can purchase cryptocurrencies using US dollars through Coinmama, such as Bitcoin, Etheruem, and Cardano.
Coinmama lets you "buy and trade" these cryptocurrency, but not for trading.
Coinmama has its own cryptocurrency inventory. All transactions between Coinmama and you will be done by
You can also sell cryptocurrency on the Coinmama platform.
Only European customers can receive the payout via SEPA bank transfers.
Coinmama Compared
Coinmama can also be compared with other exchanges.
Rain
Coinmama
- In almost all countries
- Maximum limit to purchase bitcoins with a credit card
- Trustworthy and reliable broker
EToro
Coinmama: Who is eligible?
First, you must evaluate and confirm whether it is possible to use a cryptocurrency exchange.
Some or all Coinmama products may not be available due to local regulations and cryptocurrency laws.
Coinmama can be found in Europe.
Coinmama is available to all cryptocurrency traders provided they don't reside in the US.
- Cuba
- Crimea
- Iran
- Israel
- Lebanon
- North Korea
- Palestinian Territories
- South Sudan
- Sudan
- Syria
These are the American states that can't use Coinmama.
- Florida
- Hawaii
- New Mexico
- Oregon
- Vermont
These are the American territories that cannot use Coinmama.
- American Samoa
- Guam
- Northern Mariana Islands
- Puerto Rico
- United States Minor Outlying Islands
- Virgin Islands
Buy Fees
You can easily buy cryptocurrency on Coinmama.
First, determine how much you're willing to spend on purchases. Next, Coinmama will give you a quote.
Coinmama calculates fees based on the spot price.
The commission rate for SEPA bank transactions is 3.9 percent.
You will be charged a 5% "momentum fee" if you use your credit card to pay.
A minimum payment of PS20 is required for any payment above USD1,000 USD. SWIFT will charge a minimum amount.
Coinmama customers will pay approximately 5%
To illustrate, if a bitcoin were worth $10k, it would be $10.5k to buy it on Coinmama.
This is a high price to pay. Bitcoin should rise beyond $10,500 to make a return.
Coinbase and other trading websites usually charge less than 5%.
But, the payment terms can differ depending on which method they are made.
Supported Coins
These digital currencies are available for purchase on the Coinmama Platform:
- Bitcoin (BTC).
- Bitcoin Cash (BCH).
- Ethereum (ETH).
- Ethereum. (ETC).
- Cardano (ADA)
- Litecoin (LTC).
- Tezos (XTZ)
Coinmama does not offer the following: QR (XRP), ripple(XRP) or EOS.
Deposit Methods
Coinmama can accept any fiat currency via bank transfers. Coinmama is a Euro-centric website that displays prices in the following currencies.
- USD
- EUR
- GBP
- CAD
- AUD
Coinmama supports Apple Pay and Faster Payments.
To deposit digital currencies, you can also use the Coinmama address wallet. This allows you to sell cryptocurrencies.
Use a Credit Card
Coinmama has a reputation for accepting Bitcoin credit cards transactions.
Coinmama charges an additional 5% "momentum charge" when you buy bitcoins with debit or credit cards.
Limits for Buying
Level 1
- $15k maximum lifetime-buy
- Limit $5kd Daily credit card purchase
- Maximum limit of $12k per bank transaction
Level 2
- Maximum lifetime purchase at $50k
- Credit Cards Maximum Limit $5k Per Day
- $30k daily wire transfer limit
Level 3
- $1M maximum lifetime-buy
- Credit cards limit of $7.5k per hour
- $30k daily bank transfer limit
Coinmama needs a minimum $50 USD purchase
KYC
Coinmama requires KYC
To purchase on their website, you must complete a verification process.
- Create your Coinmama account.
- They will need a copy of their government ids such as a passport, driver’s license, or any other valid ID.
- Take an image.
This verification process is a standard KYC procedure that most exchanges implement.
How long does Coinmama verification take?
The verification procedure at Coinmama is among the fastest in the industry. Some people may need to wait several days.
It depends on how busy the verification staff is. They would take longer to verify your account if they were too busy.
Others might take between 1 to 3 business days.
Levels 2 and 3 take on average six hours. This is still quite quick.
Security Record
Coinmama's security record seems to be a bit strange. They have not been the victims of any cryptocurrency theft.
Unfortunately, however, thousands of Coinmama customers' personal data were stolen. The unfortunate incident took place in 2019 when 450,000 accounts were affected.
The credit card information wasn't hacked.
This hack was just one of many that affected millions of records and 20 websites.
Coinmama delivers BTC straight to your wallet. Hacking does not necessarily mean you have lost user funds.
A hardware wallet such as Trezor Model T or Ledger NanoX can be a smart way of keeping your crypto safe.
COMPARISON
Ledger Nano X
- Screen: Yes
- Published: 2019
- Price: $119
Ledger Nano S
- Screen: Yes
- Published: 2016
- Price: $59
TREZOR T
- Screen: Yes
- Published: 2018
- Price: $159
TREZOR One
- Screen: Yes
- Publication: 2013
- Price: $59
Coinmama Customer Support
Coinmama relies solely on email for customer support.
Coinmama Loyalty Programme
If you plan to frequent Coinmama, it's a smart idea to sign up for the loyalty program at Coinmama. Coinmama offers bonus codes and lower commissions.
This program offers 3 levels:
1. Crypto Curious
Level 1 is reserved only for new users.
2. Crypto Enthusiasts
Level 2 refers to people who spend $5k on a regular basis in a 90-day period. This level allows you to save 12.5% on transaction fees.
3. Crypto-believer
Level 3 - Purchases of $18k or more within less than 90 days receive 25% off fees
Users who spend more than $50k will be considered Crypto Believers.
Coinmama Alternatives
Bitpanda
Bitpanda, a bitcoin broker in Austria, is Bitpanda. They have very affordable prices and offer many payment options.
CEX.IO
CEX.IO lets you buy bitcoins at low prices with your credit card. Bank transfers are available for free.
Coinbase Pro
Since 2015, Coinbase, a San Francisco-based firm, manages it. It supports bitcoin and Litecoin trading.
Coinbase
Coinbase, the most well-known Bitcoin broker worldwide, is now available in more than 55 countries.
EToro
eToro is a trading platform available in nearly all countries and supports Ethereum, Bitcoin, Zcash, and other coins.
Kraken
Kraken was established in 2011. It offers margin trading as well as futures contracts.
FAQ
What's Bitcoin?
A digital currency that allows you to create modern payment methods based on bitcoin. This is basically money for the Internet from the point of view of a customer.
How long does it take for Coinmama, once I pay, to send my Bitcoins?
Once you have confirmed your payment and received your wallet address, the coins will be sent within an hour.
Why am I required to give my personal information?
Coinmama, a financial provider, is committed to protecting your privacy. The verification process takes about an hour and will verify your information.
What's a Cryptocurrency Exchange?
An exchange that allows you to trade digital currencies like Bitcoin, Ethereum, or any other currency for fiat money such as dollars or euros. Bitcoin can also be exchanged for fiat currency.
What happens if I need to purchase more or less coins?
Coinmama allows you to fill your order with coins of any value.
What Virtual Currencies Are You able to Buy?
Coinmama sells the following products: Bitcoin and Litecoin. There are other cryptocurrencies in development.
How can I get an Ethereum/ Bitcoin wallet?
Coinmama does not provide your wallet. You can send the coins to any bank account.
Coinmama facilitates transactions between buyers and sellers?
Coinmama does not do this. Coinmama makes their money from their inventory.
What Currencies Does Coinmama Accept?
Coinmama Reviews: Conclusion
Coinmama has a niche in the cryptocurrency industry.
This portal allows you to sell and buy cryptocurrencies.
Coinmama could be the right platform for you if you're looking for an intuitive platform with great customer service.
They are a reputable company that has been in operation for over ten years.
Coinmama does not store cryptocurrency customers' coins.
Coinmama is available all over the globe.
Sign up now if you're not restricted!
It's a smart idea to open an account, even if your goal is to buy Bitcoins immediately.
eMoney Kings are the #1 Recommendation for Making Money Online in 2021
The program was top-quality in the real estate market!
It is digital, but it's not real estate.
Scalability is the only area that Coinmama lacks.
You only have a certain amount of money and time to invest in a project.
It is obvious that cryptocurrency may not be for everyone.
Would you make more from your local websites?
This program allows you to earn a steady income every month and not lose your entire investment.
Does this sound too good to true Yes, it does! Many business owners wish they could do this skill.
It is easy to create a website in your area and rank it. Then, you can forward the jobs on to local business owners. You can also email it.
This applies for any service-based business like tree service, plumbing or towing.
How can you get paid the most?
The concept is simple: once you send the jobs to a business owner and he makes money, you can ask for mutual benefits.
A fair price per lead is between 10-20 %... Let's use the tree service industry for an example. We will assume the worst-case scenario.
Let's say you rank the site and receive only 10 jobs per year. Tree service jobs range from $500 to $2000.
You should have at most $500 in assets per month!
It is digital real estate. This refers to a rent payment.
Scalability is simple. You don't need to worry about market volatility or constant fluctuations that cryptocurrency may bring.
Coinmama can be a great place for you to start.
Take the course we recommend to get massive FLAT RATE DEALS. This passive income is really amazing!
This program will help you make money online.
Find out the importance of keywords, website names, how you can send emails notifications to your calls, backlinking, and other details.
Once the training program has been completed, you will be able to access a Facebook Group we believe is better than the Coinmama group.
Coinmama allows you to trade for $10 only. This could mean you make 10-20x your profit.
Businesses will always require more leads and jobs. They see it as it really is...expanding the digital estate.
Coinmama is different. People are more able to quit their 9-5 jobs.
Digital real estate can provide passive income. You will spend most of your time enjoying your money, and not worrying about losing it.
There are likely many questions.