Coinmama Review

Since its inception in 2013, Coinmama has become integral to the cryptocurrency exchange domain. Its goal is to simplify digital currency purchases so that they are as straightforward as any other online transaction.

Serving customers worldwide, the Coinmama team offers access from a vast array of locations – from Asia’s active markets to Scandinavia’s tranquil environments, with only sanctioned nations and some restricted countries and certain US states being exceptions.

The purchase of cryptocurrencies can often be daunting for many individuals. With many trading platforms, each presenting its own complex set of steps and reliability levels, locating an accessible route to acquiring digital assets becomes a challenge in its right. Coinmama emerges as a platform that simplifies this journey significantly.

About Coinmama

Coinmama headquarters is nestled within the bustling metropolis of Vancouver, Canada, where it prides itself on being reliable and accessible for crypto newcomers.

Coinmama is notably applauded for dispatching cryptocurrencies directly into users’ crypto wallets instead of retaining them, and it fosters trust through this security-conscious model.

The platform maintains competitiveness by pricing according to the XBX index plus a reasonable fee structure, thus positioning its financial service offerings attractively within the marketplace.

Coinmama has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn and Telegram.

Coinmama has a mobile app on Google Play.

Coinmama Supported Cryptocurrencies

Coinmama supports trading on over 86 cryptocurrencies on their platform. This exchange currently supports 19 of the top 30 market cap cryptocurrencies.

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether USDt (USDT)
• BNB (BNB)
• Solana (SOL)
• USDC (USDC)
• XRP (XRP)
• Dogecoin (DOGE)
• Toncoin (TON)
• Cardano (ADA)
• Shiba Inu (SHIB)
• Avalanche (AVAX)
• TRON (TRX)
• Polkadot (DOT)
• Bitcoin Cash (BCH)
• Chainlink (LINK)
• Polygon (MATIC)
• Litecoin (LTC)
• NEAR Protocol (NEAR)
• Internet Computer (ICP)
• UNUS SED LEO (LEO)
• Dai (DAI)
• Uniswap (UNI)
• Aptos (APT)
• Ethereum Classic (ETC)
• Mantle (MNT)
• First Digital USD (FDUSD)
• Stacks (STX)
• OKB (OKB)
• Cronos (CRO)

Within the extensive cryptocurrency space, Coinmama has carved out a niche by carefully selecting a range of digital currencies to offer. It avoids bombarding users with too many choices, as some other exchanges do, and instead provides a well-rounded assortment of crypto currencies that satisfies both seasoned traders and newcomers eager to embark on their crypto journey.

Despite already offering an admirable selection of coins, Coinmama is open to broadening its offerings even further, suggesting potential additions may join the current suite of digital assets in the time ahead.

Trading Experience

The trading platform is the core of any cryptocurrency exchange, and Coinmama has been intentionally designed for ease of use. It is a beginner-friendly platform that allows users to buy crypto and sell crypto with greater confidence, bypassing the complex procedures often found in other exchanges.

Purchasing Digital Assets on Coinmama

Starting your journey and purchasing cryptocurrencies is easy with Coinmama. Here’s the streamlined procedure.

1. Choose the cryptocurrency you wish to buy.
2. Select from numerous payment methods, such as using your debit card.
3. Enter your wallet address (this is the secure destination where your newly purchased coins reside). Whether you use a credit card, SEPA bank transfer, or other form of payment, Coinmama guarantees an efficient and protected transaction process that can be monitored within the My Account area for added assurance.

As soon as your purchase is validated, Coinmama quickly dispatches the crypto directly into your specified crypto wallet at remarkable speed. Integrating partnerships that include ZenGo wallets and offering versatile payment options such as Google Pay illustrates how committed Coinmama is to ensuring their users are thoroughly prepared right from the outset of their adventure in cryptography transactions.

Loyalty Rewards Program

Consider the possibility of your crypto purchases yielding benefits that go beyond potential financial growth in the market. With Coinmama’s loyalty program, this is a reality, as it provides a structure that offers commission fee discounts and improved customer support response times. The more you interact with their services, starting from the level of Crypto Enthusiast and progressing to that of Crypto Believer, the greater rewards Coinmama extends to you.

This approach harks back to time-honored principles of rewarding consistent patronage. Coinmama’s system appreciates those who demonstrate sustained commitment with commensurate perks, thus encouraging continued participation in their ecosystem for even more extended periods.

Coinmama Fees

Coinmama is known for its transparency regarding transaction fees, which tend to be higher than other cryptocurrency exchanges. Users are offered a range of payment options, but they should note that using credit and debit cards comes with fees and additional surcharges for transactions made via credit card.

Despite these relatively high fees associated with Coinmama’s services, users can use diverse payment methods. Coinmama accepts multiple payment options, such as SEPA transfers and bank cards, which may significantly reduce overall costs. Coinmama stands out by providing this flexibility in various payment method options catering to different user needs and budget considerations.

Also, to offset the impact of high fees, frequent traders might find relief through discounted commission rates available via the loyalty program provided by Coinmama.

Security - Is Coinmama Safe?

Amidst prevalent cyber threats and the frequent occurrence of data leaks, prioritizing security has become essential. Coinmama acknowledges this reality by bolstering its defenses, forming alliances with reputable security firms.

They demonstrate a proactive stance in safeguarding assets by directly transferring purchased cryptocurrencies to personal wallets owned by users, thus reducing the risk of hacking incidents targeting their crypto exchange.

Coinmama’s history includes overcoming a cybersecurity incident that has led them to improve upon their platform’s protective measures significantly. Two-factor authentication now serves as an additional layer of protection for user accounts on the Coinmama website.

The Importance of a Secure Wallet Address

Coinmama’s security framework is robust, emphasizing user responsibility for maintaining the safety of their wallet address. Since Coinmama dispatches digital assets immediately after purchase, users must ensure their crypto wallet is secure. Protecting your investments hinges on how vigilantly you watch over this essential key.

Therefore, choosing a trustworthy crypto wallet and keeping your wallet address confidential is as vital as deciding to invest in crypto.

Coinmama Customer Support

A robust and responsive customer support framework is essential for any service-driven platform, and Coinmama has established a reliable one. The team at Coinmama stands ready to tackle questions around the clock. They are committed to upholding their distinction for excellent customer support, reflected in their impressive Trustpilot rating. Although some users believe there’s potential for enhancement, most report receiving timely assistance that meets their needs from Coinmama’s strong support system.

Coinmama’s customer care is always ready to help, from resolving inquiries related to transaction fees to efficiently facilitating SEPA bank transfers. Indeed, this vigilant support team ensures that no user is left without assistance.

Coinmama Support Channels

• Facebook
• Twitter
• Instagram
• Live Chat
• Help Center Articles
• Support Ticket

How to Sign Up on Coinmama

1. Create Account - Visit the Coinmama website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
3. Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

• Bank Transfer
• Debit Card
• Credit Card
• Cryptocurrency
• Paypal
• Apple Pay
• Google Pay
• Skrill
• Neteller
• Giropay
• Astropay
• Khipu
• WebPay
• PSE
• SPEI

Coinmama Alternatives

Final Thoughts

Coinmama offers a user-friendly and secure platform for those looking to enter the crypto world. Its straightforward purchasing process, selection of digital assets, and dedication to customer service make it an attractive option for beginners and experienced traders.

While Coinmama fees can be steep, and there is always room for growth and improvement, Coinmama’s commitment to security and its loyalty rewards program adds significant value.

For many, the blend of convenience, security, and support is worth the high fees, earning Coinmama a spot on their crypto journey.

To compare Coinmama against other cryptocurrency exchanges, view our article comparing Coinmama vs. Coinbase.

Coinmama FAQs

Coinmama User Reviews

No reviews yet for Coinmama - be the first to review!

Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors