Ultimately, Coinmama has a strong reputation within the cryptocurrency community as a safe, honest and trustworthy broker. It may not have some of the additional features that some of its competitors do, and it may not be the cheapest, but it does what it does very efficiently and securely. Case studies carried out by commentators have suggested that it users should add an additional 10% in fees when transacting through Coinmama. Users that wish to transfer currency to another person’s wallet should check the procedure for doing so through their own wallet provider. Read on for our full review of Coinmama to find out more.
As with Coinmama, Kraken doesn’t provide a wallet for storage. However, Kraken does offer futures trading and https://www.tokenexus.com/coinmama-review/ other advanced services. Additionally, Kraken’s fees are generally lower than what you see at Coinmama.
Coinmama vs. Other Exchanges
When dealing with financial transactions online, it’s important to use a site that is safe and secure. Coinmama is a reputable company with a secure website that is protected by Trust Guard and Comodo. Both security specialists have confirmed that 256-Bit SSL encryption is actively used on pages that contain private information. CoinSutra writers are not certified financial advisors or brokers. Cryptocurrency activities like purchasing, trading, holding, and selling have inherent risks.
However, there are a few restricted states and territories within the US, including New York and Hawaii. The user experience on Coinmama has been carefully thought out and is designed to suit individuals with various levels of investing knowledge. Once your wallet address and payment are confirmed, you should receive your coins in minutes. Coinmama has many payment methods for crypto purchases, such as Google Pay, Apple Pay, Debit cards, SWIFT, SEPA, Fedwire, SEPA Instant and Skrill. Another bonus is the low minimum order value of only $30.00.
Coinmama Support Team
According to their FAQs, users will soon be able to sell cryptocurrencies at Coinmama. Coinmama is strictly a crypto exchange and doesn’t hold user funds on its platform. Users must have a crypto wallet to initiate a transfer of funds. This security feature removes some of the risks users are exposed to when using a platform to store their funds. Coinmama is a non-custodial cryptocurrency broker from Israel that is incorporated in Europe, Slovakia.
- Coinmama is a straightforward exchange that beginners will likely have no trouble using.
- You either love or hate them, and there would be little point as your cryptos aren’t on the Coinmama system.
- In fact, the exchange boasts of having over 2.4 million users across 188 countries.
- If you also use another platform like Binance it’s equally important to withdraw your crypto from the exchange and store it somewhere safe.
- As such, Coinmama is a secure platform but may not be the best option for privacy-conscious individuals.
- When you enter your card details and make a purchase with Coinmama, your coins are sent to your private wallet as soon as the payment goes through!
- It’s one of the few inconvenient parts of using Coinmama, though.
Coinmama also makes it simple to sell bitcoin (it doesn’t work with other above-mentioned coins yet). You can receive fiat payment directly to your bank account or virtual debit card, which is another product offered by the company. To conclude this review on Coinmama, the exchange is suited for newcomers and beginners looking to make their first cryptocurrency. The user interface, worldwide availability, responsive customer service, and supported payment options make it easy for investors to buy crypto with fiat currency. You can use any payment method for purchases but cannot use bank transfer, debit or credit card, Google Pay, SEPA Instant or SWIFT for selling cryptocurrencies. Coinmama takes pride in offering one of the most responsive and accessible customer support teams.