CoinMama Trading Platform Homepage Screenshot
Coinmama Trading Platform

Our Score:

Coins SupportedFeesUnique Selling Points
Coins you can buy: Very Limited*

Bitcoin and Ethereum only.

Deposit: 5% Credit/Debit Card Fee
Trading: 5.5%

Platform – Simple Platform. Does the basic things but does them well.
Security – Secure and trustworthy site.
Availability – Available in most countries.
Important InfomationType of PlatformSecurity
Deposits: Fiat money
Payment Methods: Debit and Credit Cards*
Platform: Web
Wallet: No*

* except Discover, Paypal or American Express.

Exchange

Coinmama Trading Platform Review

Coinmama is a Slovakia-registered cryptocurrency exchange that was found in 2013 and has its headquarter in Israel. Coinmama is available in 24 US States and is operated worldwide in 217 countries. Users can purchase Ethereum and Bitcoin on the platform, using debit and credit cards or even with Western Union. However, the platform does not allow users trade or sell cryptocurrencies; rather, the company does a direct transfer of purchased cryptocurrency from its own holdings. This process makes transactions secure.

Coinmama utilizes SSL technology to protect users’ bank card data and personal information. The platform has employed the use of strong encryption to store sensitive information on databases secured with encrypted passwords and on secure servers. In addition, purchases made on the platform pass through different levels of verification. There are four different levels of verification, and they are:

  • Level 0: This where you provide personal details such as name, phone number, ZIP, address, city and state. Also Users can purchase bitcoin of no more than $150.
  • Level 1: Verification includes upload of photos of User’s driver’s license or ID, and it is required for purchases not exceeding $10,000.
  • Level 2: Verification requires uploads of a government-issued ID plus photos of a driver’s license, ID or international passport. It allows users make purchases of up to $50,000.
  • Level 3: Verification requires an approval by a lawyer or notary, and it is for high volume users who intend to use up to $1,000,000 on purchases.

Unique Features

  • Ease of Use: its simplicity is what has attracted a lot of users to it. The registration process and every other action are easy and straightforward. Here is how you can buy some cryptocurrency for yourself.
    1. Select your payment method
    2. Depending on what payment method you choose, there are different instructions for each, ensure you follow the instructions.
    3. Complete your payment and do a crypto wallet address confirmation.
      And that is all!
  • Fees: Transactional fees of 5.50%, also, credit and debit card transactions attract a 5% fee.
  • Support: Coinmama has an effective support that is always on hand to assist Users with issues.
  • Security: Transactions on the Coinmama exchange are safe and secure.

Pros

  • Options to make payments with a Credit or Debit cards.
  • Delivery is fast.
  • Transactions are secure and safe.
  • Interface is easy to use and navigate.
  • Efficient support.
  • Their website is multi-language.
  • Orders are easy to review.
  • Users can purchase fractions of a bitcoin.

Cons

  • High Trading Fees
  • Very limited platform...
  • No Storage.
  • They only offer Ethereum and Bitcoins.
  • No mobile app.
  • Users cannot sell.
  • Coinmama does not accept Discover, Paypal or American Express.

In summary: Coinmama is not only safe and trustworthy, the platform is user-friendly. Newcomers to the crypto community will have no troubles doing their trade on the platform. The platform is however limited in its features and only offers Bitcoin and Ethereum to trade.