Coinmama review – Why it’s a safe and good option

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If you are thinking about buying Bitcoin, Ethereum or other popular cryptocurrencies easily online then I can recommend that you check out Coinmama.

Coinmama was launched back in 2013 so in todays market full of new exchanges and crypto broker sites they are actually one of the older sites.

Similar to Coinbase I would put Coinmama in the beginner-friendly pack of online digital exchanges and market sites.

We’re Coinmama, a financial service that makes it fast, safe and fun to buy digital currency, anywhere in the world

Coinmama

Coinmama is not like your Binance, KuCoin or other digital exchanges with hundreds of cryptocurrencies listed for trading. Here at Coinmama, you can mainly buy the most popular cryptocurrencies out there.

At Coinmama you can currently buy Bitcoin, Ethereum, Litecoin, EOS, and a few others.

Coinmama listed cryptocurrencies available for purchase

Instead of adding hundreds of cryptocurrencies and compete with those types of exchanges, Coinmama has focused on creating a website where you can with ease buy and sell cryptocurrencies.

That means if you are just starting out and want to buy perhaps Bitcoin or Ethereum for the first time then Coinmama would be an excellent place to start off with.

Here you can buy BTC, LTC, ETH, XRP and other cryptos with a credit card, debit card, Apple Pay or bank transfer.

Pros
  • Very easy-to-use site, perfect for beginners
  • Lots of payment methods available (credit card, debit card, Apple Pay, bank transfer)
  • Been around for a while and are a reputable site, with full information about the team
Cons
  • A bit pricier fees to purchase cryptos with a card (but similar fees to other sites)
  • More limited offering in terms of available cryptos

Why you should use Coinmama

I think the main reasons for using Coinmama is because you are looking for a site that is easy to use and with no added fuss or complex steps to go trough.

If you value ease of use and full transparency when purchasing or selling cryptos then I would recommend Coinmama.

If you prefer smaller fees and more cryptos available at the same site then I’d recommend you to check out Binance or perhaps KuCoin or Kraken.

Features

Trading fees

Credit/debit card fees - 3.90%), spread - 2%) Instanst-purchases - 5% Bank transfers under $1000 - $20

Spread - 0.50% Coinbase fee - $0.99-$2.99 Standard buy/sell - 1.49% card fees - 3.99%

Standard fee - 1.49% - Card fee - 1.50% 

Cryptos available

Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Litecoin, Qtum, Ripple, Tezos, Eos

Bitcoin, ATOM, BAT, Bitcoin Cash, Civic, Dash, Litecoin, Eos, Ethereum Classic and 20+

Ethereum, XRP, IOTA, Litecoin, EOS, Dash, Augur, Stellar, ZCash, Tezos, Cardano, NEO, Chainlink, Cosmos, Basic Attention Token, DOGE and 10+

Payment methods

Credit/debit card, Bank transfer, Apple Pay 

Credit/debit card, Bank transfer, PaPal (sell only)

Credit/debit card, Bank transfer, vouchers, Skrill, etc

Available in the US?

Yes

Yes

No (Europeans only)

Fees

The fees for buying at Coinmama are the typical credit and debit card fees (3.90%), then there is a spread or deviation roundup (2%).

For instant purchase transactions, there is also an added express fee (5%) and then for bank transfers under $1000, there is also an added flat fee ($20).

And then for selling you have the 2% exchanges rate roundup and their sell fee (0.1-0.9%)

Overall all of these sites like Coinmama, Coinbase, Bitpanda and the rest often have steep fees. And Coinmama is not the site with the lowest fees, nor the highest fees. It is a bit like everybody else in terms of fees.

Supported cryptocurrencies

Coinmama have the major cryptocurrencies listed for trading on its site (buying and selling) but they don’t have support for as many altcoins as other sites do.

If you are looking for an option with lots of cryptos available you might better check out Binance which I also use a lot.

Payment methods

Here you got the most common payment methods supported, like credit card and debit card purchases and then bank transfers. They also support Apple Pay which I found a bit interesting.

Unless you are planning to buy with vouchers or perhaps PayPal I think Coinmama has enough payment methods available for most beginners.

Coinmama main features listed

Customer support

Contact Coinmama via online tickets

If you would have any issues when using Coinmama they like most others have a dedicated customer support team available. You can reach them via a chat, or by creating an online ticket. And for the latter they will contact you back via your email.

You can also find out lots about using Coinmama, how it works, etc by checking out their help section.

Coinmama help section

Coinmamas loyalty program

Did you know that Coinmama have a loyalty program?

Well, it’s not completely unique as other exchanges also have rebates for customers that trade more frequently, but Coinmama is one of the few that have labelled it as a loyalty program.

There are three levels; Crypto Curious, Crypto Enthusiast, Crypto Believer.

The main difference is that you get a trading fee rebate the greater you spend using Coinmama.

So if you buy for more than $5000 USD on a 90-day average you get a 12.5% in fee rebate, and then if you spend more than $18,000 USD over a 90-day period you get a 25% fee rebate.

Read more about it here.

Coinmama loyalty program

Coinmama alternatives

If you find that you want to buy other cryptos than the ones listed on Coinmama or there is some other reason to why you’d prefer to use a Coinmama alternative then I would recommend you to use either Coinbase, Bitpanda or Changelly.

They are all equally as good for beginners, they are easy to use and have a few more cryptocurrencies available than Coinmama.

Features

Trading fees

Credit/debit card fees - 3.90%), spread - 2%) Instanst-purchases - 5% Bank transfers under $1000 - $20

Spread - 0.50% Coinbase fee - $0.99-$2.99 Standard buy/sell - 1.49% card fees - 3.99%

Standard fee - 1.49% - Card fee - 1.50% 

Cryptos available

Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Litecoin, Qtum, Ripple, Tezos, Eos

Bitcoin, ATOM, BAT, Bitcoin Cash, Civic, Dash, Litecoin, Eos, Ethereum Classic and 20+

Ethereum, XRP, IOTA, Litecoin, EOS, Dash, Augur, Stellar, ZCash, Tezos, Cardano, NEO, Chainlink, Cosmos, Basic Attention Token, DOGE and 10+

Payment methods

Credit/debit card, Bank transfer, Apple Pay 

Credit/debit card, Bank transfer, PaPal (sell only)

Credit/debit card, Bank transfer, vouchers, Skrill, etc

Available in the US?

Yes

Yes

No (Europeans only)

Coinmama final words

Ok, to wrap it up I would say again that Coinmama is an excellent option for the ones that wants to buy Bitcoin quickly and easily without complex registration and trading orders.

The same goes for selling your BTC, ETH, EOS or the other supported coins.

However if you are more experienced as a trader you can check out other options. Or if Coinmama doesn’t have the cryptos listed that you want to buy then you need to go somewhere else.

What Coinmama does well is catering for the beginners, and also full marks for being transparent about the team, the fees and where they are from.

I’d recommend you start off with a site like Coinmama, or Coinbase and then move on to look up other sites when you get more experienced.

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