Is Coinmama Cryptocurrency Exchange the Best?

Coinmama Cryptocurrency Exchange Review

Coinmama is one of the most reputable and popular cryptocurrency-buying services in the world. The exchange supports 5 different cryptocurrencies and can purchase them with credit card payments.

Coinmama makes buying Bitcoin and other cryptocurrencies easy. The company seems committed to providing great customer experience and quality customer service. Transactions are super fast and user verification takes about an hour.

This is an excellent option for beginners starting with Bitcoin and cryptocurrency.

Benefits

Coinmama sells Bitcoin directly to users. This provides a very simple, secure and fast buying process.

They also offer relatively low fees compared to other brokerage services.

The process of buying coins is simple. Just submit your order and identity verification documents. Then make a payment to get your coins. As soon as your payment clears, you get your coins. It’s that simple!

• Coinmama is a straight forward
• Reasonably priced
• Very safe cryptocurrency brokerage service
• They sell the coins!

Countries Supported

Afghanistan, Aland Islands, Albania, Algeria, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, The Bahamas, Bahrain, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bonaire, Sint Eustatius and Saba, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, Colombia, Comoros, Congo, Congo, the Democratic Republic of the, Cook Islands, Costa Rica, Cote D’Ivoire, Croatia, Curacao, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guatemala, Guernsey, Guinea, Guinea-Bissau, Guyana, Haiti, Holy See (Vatican City State), Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iraq, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Korea, Republic of, Kuwait, Lao People’s Democratic Republic, Latvia, Lesotho, Liberia, Libyan Arab Jamahiriya, Liechtenstein, Lithuania, Luxembourg, Macao, Macedonia, the Former Yugoslav Republic of, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mexico, Micronesia, Federated States of, Moldova, Republic of, Monaco, Mongolia, Montenegro, Montserrat, Morocco, Mozambique, Myanmar, Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand, Nicaragua, Niger, Niue, Norfolk Island, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Qatar, Reunion, Romania, Russian Federation, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Sint Maarten, Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, Suriname, Svalbard and Jan Mayen, Swaziland, Sweden, Switzerland, Taiwan, Province of China, Tajikistan, Tanzania, United Republic of, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States*, Uruguay, Uzbekistan, Vanatu, Venezuela, Viet Nam, Virgin Islands, British, Wallis and Futuna, Western Sahara, Yemen, Zambia.

US states supported

Arizona, California, Colorado, Florida, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Montana, Nevada, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.

Buying & Selling

Buying

Coinmama accepts credit or debit cards issued by Visa or Mastercard. SEPA payments are also accepted with 0% processing fees.

• Credit or Debit Card
• Visa & Mastercard

Selling

• Coinmama does not support selling cryptocurrencies.

Limits

• The minimum amount of Bitcoins you can buy is $60
• The daily buying limit is $5000
• The monthly limit is $20,000

Fees & Currencies

Coinmama Cryptocurrency Exchange Rates

• Flat 5.5% fee for credit and debit card transactions
• Processors usually charge an additional 5%
• Most banks charge a small fee for converting the currencies
• Total fees are usually between 10-15%

Safety & Security

Coinmama has dedicated servers for improved protection and privacy. Transactions and transfer is anonymous and no one tracks the sum owned.

Their site uses 256-Bit SSL encryption on consumer pages. Plus, TrustGuard and Comodo internet protection.

Verification factors

Verification is mandatory

1. Create an account
2. Click the ‘Verify my Account’ tab
3. Upload both sides of a government-issued ID
4. Upload a selfie of you holding the ID and a piece of paper with the word ‘Coinmama’ plus ‘THE DATE’.
5. This verification allows purchases of up to $10,000 of bitcoins.

User Experience

Quick Guide

Create Account

1. Go to Coinmama.com
2. Click sign up to create a new account
3. Provide an email address and password
4. Provide your name and country of residence
5. Log in to your email and click the confirmation link from Coinmama
6. Your account is now active

Verify Account

1. Login to your new account
2. Enter your identification details
3. Provide address and ID information.
4. Upload your selfie as asked a
5. Buy as much as $5,000 worth of coins on the same day

Customer support

Coinmama has ok customer support. They have a dedicated staff that is available 24/7 for emergencies. Unfortunately, responses can take a while and are often not very informative.

Their FAQ section is thorough and updated regularly.

Feedback

As with just about everything in the world, reviews are mixed. They are a popular service with thousands of users and sell a ridiculously large amount of cryptocurrency daily. So, they must be making at least someone happy.

They have also stated, and I think, demonstrated a renewed commitment to improving their customer support.

However, there is no shortage of complaints and bad reviews. Some are understandable, some aren’t, and some seem to have been addressed since being made.

All in all, they seem to have a reasonably responsive support team. The responses aren’t always great and sometimes can take quite a while to arrive, but they have community trust and demonstrated a commitment to user privacy.

Final Verdict

EXCELLENT

I’ve used Coinmama, may use again and would recommend it to a friend starting. They are a reputable company with decent support.

The fees aren’t great compared to other exchanges, but they’re alright for a brokerage service using credit card transactions.

Final Verdict: Excellent for beginners to easily, safely, simply and quickly Buy cryptocurrency.