Coinmama Review 2025 Still a safe and legit exchange?

Coinmama Review 2025 Still a safe and legit exchange?

Before buying cryptocurrency on Coinmama, you will need a crypto wallet supporting the coin of your choice. Coinmama was established in 2013 and has served almost four million customers around the world. The company is headquartered in Ireland, and it was founded by Nimrod Gruber, Laurence Newman, and Ilan Schuster. Coinmama supports 15 digital assets at the time of publication, including Bitcoin, Ethereum, and Aave. Since Coinmama is a cryptocurrency broker/exchange, you can buy, tade and exchange cryptocurrency. If you’re looking for a platform where you can trade and sell more coins, you should check out Binance.

• If you’re ok with buying and selling coins directly from Coinmama, it offers a lot of benefits.
• Coinmama sells cryptocurrencies out of its personal inventory.
• While the exchange does support the largest assets, including BTC, ETH, and LTC, the lack of smaller projects is far from ideal for anyone aiming to trade cryptocurrency.
• Coinmama is an established crypto exchange based in Ireland.
• I tested the Bitcoin calculator and found its dropdown for other tokens non-functional.
• Coinmama fees are higher than Coinbase, which is another very reputable exchange.

Gemini- Most Secured Exchange & Best for US Traders

While some customers have complained about this verification process, it is an important part of Coinmama’s broader commitment to security. It’s also standard practice for any exchange that complies with Anti-Money Laundering laws. Your coins are kept in an external wallet, not in your Coinmama account, so the need for mobile monitoring features isn’t that high here. Still, crypto traders looking for the convenience of a dedicated mobile app might prefer another crypto app.

So, for those of you looking to purchase Bitcoin, Ethereum, or another cryptocurrency for the first time, Coinmama is a great place to start. In conclusion, a crypto exchange is an integral part of the crypto community, as crypto investors or traders choosing the right exchange matters. This article has covered important aspects of exchanges that are best suited for a broad spectrum of crypto investors and traders.

Coinmama Verification of Account

For those who qualify for level 2 or level 3 in the loyalty program, that response time can be even faster. They attend to their clients and resolve issues within a reasonable time frame. Even though customer cryptos are not kept on the exchange the company still got hacked. Unfortunately in 2019 the company announced that 450,000 email addresses and hash passwords were stolen.

Compare Coinmama against other exchanges

Derivatives exchanges also commonly have leverage which allows crypto traders to use margin to take out a larger position. The most famous crypto derivatives exchanges is Bitmex which offers up to 100x leverage. Many users are using it because of its fast-track verification process, many payment methods, and availability in so many countries.

Top Crypto Exchanges

Those in the Curious tier will pay a 3.9% fee per buy or sell transaction. Compared with other cryptocurrency exchanges, Coinmama’s trading fees are relatively high. Users will also pay spread fees, called “rates” on Coinmama, and may be subject to other fees depending on the payment method they use. While no exchange is perfect, Coinmama is definitely on the positive side. Although some might be cheaper when it comes to transaction fees, they might not offer the option to use your debit or credit card.

• All credit card purchases incur a 5% commission which is fairly typical and certainly a lower commission than some other platforms.
• In this situation, you’ll need to find a bank that will allow payments onto the platform.
• To help you navigate the world of crypto exchanges, CryptonewsZ has analyzed various platforms and created a list of top crypto trading platforms for different user types.
• Apart from the fees charged to buy, there are additional fees depending on the deposit method you use.
• It’s also worth noting that Coinmama does have a minimum purchase requirement of $50 per order.
• In this article, we will review Coinmama, a crypto exchange for buying and selling Bitcoin and other cryptocurrencies.

Coinmama Review: Customer Service

There is no processing fee for order value worth over  $1000. But, the order value below $1,000 attracts a flat processing fee of 20 GBP. Coinmama is an Israel-based leading crypto brokerage firm and operating in the space since 2013.

It might not be ideal for the cryptocurrency enthusiast looking for a robust suite of products, but it could be the right place if you simply want to buy or sell crypto. Now all you need to do is repeat the previous steps to complete your purchase. At the final stage, you will be asked to enter your debit or coinmama exchange review credit card details, as well as your Bitcoin or Ethereum wallet address. To use your card, you will have to pay an extra 5% fee on top of the rate that Coinmama charge.