It provides users with a platform to purchase Bitcoin and Ethereum using credit and debit cards. However, Coinmama does not provide a platform for trading in cryptocurrencies nor does it allow users to sell cryptocurrency. Coinmama was one of the first cryptocurrency exchanges to offer Bitcoin by credit card. After the initial account verification, purchased coins immediately go to your digital wallet.
- While it doesn’t allow people to trade cryptocurrency pairs, the exchange is worth considering for anyone looking to spot-buy BTC, ETH, XRP, and a handful of other popular cryptos.
- The orders are executed as soon as Coinmama receives your payment, which depends on your chosen payment method.
- WOW…couldn’t you…coinmama..have mentioned all of this beforehand?
- Coinmama allows you to buy only 10 coins, including Bitcoin (BTC) and Ethereum (ETH).
- While suitable for beginners looking to buy crypto without hassle, anyone wishing to perform analysis or utilize advanced tools will need to find a dedicated trading platform.
At present, Coinmama is only currently available as a website, with no mobile app available. In addition, Coinmama has not released an API to enable users to create custom applications that would be compatible with the platform. Coinmama now requires verification for all purchases due to new KYC regulations. This time I had the pleasure of liaising with Conor and the issue was handled expediently and with care. Coinmama will send your crypto coins directly to your wallet, so you should have that set up. Make sure you copy the wallet address accurately because a mistake could mean your coins end up elsewhere.
Coinmama Transaction Fees
Once you do that, you can purchase up to $15,000 worth of bitcoin with a credit or debit card. Coinmama does offer a white glove service aimed at high-net-worth individuals and businesses for users who might exceed the $15,000 spending limit. With this service, Coinmama will provide assistance with managing a crypto portfolio of up to $100 million. You cannot deposit funds into Coinmama as crypto purchasing is a direct sale.
The only things you can do on Coinmama are buy certain types of cryptocurrency and sell one of them (Bitcoin). Compared to other exchanges, Coinmama is light on features. It’s one of the few inconvenient parts of using Coinmama, though.
Details
The site is available for almost everyone, serving 226 countries and the majority of U.S. states. Coinmama is a basic, easy-to-use platform that lets customers buy a limited number https://www.tokenexus.com/coinmama-review/ of cryptocurrencies and sell Bitcoin. However, it charges relatively high fees for each transaction and doesn’t offer all the features and products that competitors may provide.
As of publication the affiliate program reward rate is 15% of Coinmama’s commission. That means that if a new trader uses a debit card, or any other payment methods, to buy $1,000 worth of Bitcoin then you will get $8.25. The Coinmama commission on a $1,000 sale is $55 and 15% of that commission goes to the affiliate. Coinmama is a regulated exchange that holds no user assets. This makes it secure as there is nothing to hack other than user data.
Top Cryptocurrencies
If, for whatever reason, the order aborts, Coinmama reverses the money into your bank account within 48 hours. While you’ll need to get a crypto wallet from another company, the ability to buy and sell seamlessly and securely through Coinmama’s platform makes crypto trading easy and safe. Once your ID has been accepted, you can buy Bitcoin and Ethereum by going to the ‘Buy Bitcoin/Ethereum’ tab. Select the amount you’d like to purchase and provide your wallet’s address (more info on wallets available here). After you’ve input your payment details and they’ve been accepted, your cryptocurrency will be sent to the specified wallet immediately.
