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Coinmama was one of the first crypto exchanges created and remains a reliable way to invest in and store crypto and other digital currency.
Conventional stocks have become unpredictable and, in some people’s eyes, poor investments. As nontraditional investments such as crypto have gained traction, some investors have wondered how to capitalize on such growth.
Coinmama is one of many crypto exchanges that allow investors to participate in digital asset investments.
This review covers whether Coinmama is a safe and reliable crypto exchange.
What is Coinmama?
At the time, there were very few ways for investors to get in on digital currency, and Coinmama was committed to changing the game.
The company provided a platform for hundreds of customers to buy and sell bitcoin before it was widely accessible.
Since its founding, Coinmama has served more than 300,000 customers in more than 190 countries. The company allows users to make crypto purchases using various fiat currencies and payment platforms.
While Coinmama has high fees compared to larger platforms such as Coinbase, it more than makes up for this with its user-friendly interface and individualized customer support.
How Does Coinmama Work?
Coinmama is a cryptocurrency exchange platform that works by connecting people who want to sell crypto to people that want to buy it.
After you connect your crypto wallet using your wallet address, you can buy and sell cryptocurrency 24/7 with transactions that are complete in just minutes.
Crypto purchases will abide by the market rate of the given coin at the time of the transaction. Purchased cryptos will appear in your wallet, and you can use them however you want, including trading them through other exchanges or holding them for future sales.
Coinmama Product Offerings
Coinmama is primarily a cryptocurrency exchange platform, but it also offers a few other services to its customers.
Coinmama Crypto Exchange
Coinmama crypto exchange is a platform that connects buyers and sellers of cryptocurrencies. While the platform does not host as many cryptos as other exchanges, it supports most major options, including the following:
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- AAVE (AAVE)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Bitcoin Cash (BCH)
Coinmama charges a fee on every transaction that goes through its exchange. These transaction fees vary depending on the value of the transactions you make through the platform.
There are three fee tiers through Coinmama:
- Curious — 3.9% fee per transaction: These users have under $5,000 in transactions over 90 days.
- Enthusiast — 3.41% fee per transaction: This tier applies to users who have over $5,000 in transactions over 90 days.
- Believer — 2.93% fee per transaction: Users in this tier have more than $18,000 in transactions over 90 days or more than $50,000 in total transactions.
|Spread||XBX rate + 2.3%|
|Commission fee on purchases||Up to 3.9%|
|Commission fee on sales||Up to 0.9%|
|Credit/debit card transaction||4.99%|
|Apple Pay transaction||4.99%|
|Google Pay transaction||4.99%|
Through Coinmama’s loyalty program, it is possible to get your commission fee as low as 0.99%.
|Loyalty Level||Commission Discount||Spending Requirement|
|Crypto Enthusiast||12.5%||$5,000 per 90-day period|
|Crypto Believer||25%||$18,000 per 90-day period or $50,000 over account lifetime; must have been purchasing with Coinmama for at least 30 days|
Coinmama allows customers to use a variety of fiat currencies (legal, government-sanctioned money), including U.S. dollars, euros, British pounds, Canadian dollars and Australian dollars.
You can add money to your account to fund transactions using the following payment platforms:
- Visa and MasterCard credit and debit cards
- Apple Pay
- Google Pay
- Bank transfers
Best for: Anyone who wants to buy or sell cryptocurrencies
Crypto wallets are a way to store your crypto keys securely. Crypto wallets do not hold the actual cryptocurrency — these are kept in the blockchain — but contain users’ access to their investments.
Coinmama’s newest product is the Coinmama Wallet, which is an independent, highly secure way to store your crypto keys in a way that will allow you to buy and sell instantly.
The Coinmama Wallet also has instant transactions, 24/7 customer support and an app available for iOS and Google Play.
Best for: Crypto investors who want a highly secure crypto wallet
Coinmama VIP Business Program
One of Coinmama’s more unique offerings is its VIP business program — designed for those who want to buy large amounts of cryptocurrency.
The Coinmama VIP Business Program gives large buyers and sellers of cryptocurrency a personal one-on-one success manager, self-custody storage, 24/7 support and a competitive, high-quality service.
Best for: Those who want to make significant crypto purchases
Who Should Use Coinmama?
You should consider using Coinmama if the following apply to you:
How Does Coinmama Compare?
| || || |
.99% - 3.99%
0% - 3.99% varies by type of transaction
1% for cryptocurrency
No current promotions
Sign up and get up to $200 in crypto
Get a $10 bonus when you buy $100 worth of crypto (U.S. only).
Getting Started with Coinmama
Getting started with Coinmama is easy. If you have any issues setting up your account, the Coinmama support team can help you through the process.
For most customers, setting up a Coinmama account follows these steps:
- Create an account: You will need your personal information, including a driver’s license or other ID and a selfie, to open a Coinmama account.
- Connect a payment method: You will need to enter your payment information to trade on Coinmama. Coinmama accepts multiple payment options to fund your account, including credit cards, debit cards, Apple Pay, Google Pay and wire transfers.
- Verify your account: Follow the verification process set out by Coinmama to ensure your account is fully protected. This verification also helps Coinmama comply with various local regulations.
- Download the Coinmama app: The Coinmama app is an excellent way to stay on top of your investments and make trades as the market moves.
- Start trading crypto: After your account is set up, you can buy and sell major cryptocurrencies on Coinmama’s exchange platform, with trades completed in just minutes.
Can You Trust Coinmama?
Coinmama was one of the earliest crypto exchanges and has grown into an industry leader for crypto investors everywhere. It offers a secure crypto wallet, a crypto exchange and personalized services for large investors.
If you’re looking for a reliable exchange to buy cryptocurrency, consider purchasing through Coinmama.
These are the most commonly asked questions about Coinmama crypto investing.
Is Coinmama safe and legit?
Coinmama was one of the earliest cryptocurrency exchanges, and Coinmama reviews reveal that it remains a reliable, safe way to buy and sell digital currency.
Is Coinmama accepted in the U.S.?
Coinmama is available in 188 other countries and 48 U.S. states, excluding Hawaii and New York.
Can you withdraw funds from Coinmama?
Yes, you can withdraw funds from Coinmama and have them delivered directly to your bank account.
What cryptocurrencies can you buy on Coinmama?
You can buy most major cryptos on Coinmama, including Bitcoin, Dogecoin and Ethereum.
Where is Coinmama located?
Coinmama has its headquarters in Ireland.
Coinmama is one of the fastest growing cryptocurrency exchanges due to it being easy, fast, and secure. It also allows you to purchase crypto with credit cards.
Product Brand: Coinmama