Coinmama.com

LogoCoinmama Logo
Overall Rating
Coinmama.com ★★★★★ 4.5
5 1
Type Exchanger
Since2013
LocationBratislava, Slovakia
WebsiteCoinmama.com
Social Links
FeaturesReal-time price calculator; Affiliate system
DerivativesNo
Margin TradingNo
Deposit FeesCryptocurrency deposits: 0%; credit card fee: 5%
Trading FeesYes (5.50%)
Withdrawal FeesYes (5% credit card fee)
Tradeable Coins Bitcoin (BTC) Ethereum (ETH)

Advantages

  • Supports different payment methods: credit/debit card, cash
  • There is an extensive FAQ section that clearly addresses most possible issues
  • Supports most countries worldwide

Disadvantages

  • The developers are still working on website translations for non-English users
  • Only two types of cryptos are available
  • You can only buy coins at Coinmama, there is no selling option
  • High fees
  • No mobile app

Is CoinMama a Legit Service?

Coinmama.com is an exchange that operates since 2013. From the company’s FAQ, we have found out that the company is registered in Slovakia. Due to the fact that Coinmama accepts credit cards, it provides trading services to customers from almost all corners of the world. Here you can purchase bitcoins and ether for cash. However, be prepared to pay an additional 5.00% fee. Also, don’t forget that your bank might apply its own transaction fees.

Features

Purchasing bitcoins or ether from Coinmama, you may take advantage of pre-made packages or choose the amount of coins you want to buy manually depending on your budget.

Before getting your coins, you have to complete an account. Accounts at Coinmama have different limits which depend on the verification level you have. What are they? The very first level is an unverified account you get right after registration. Purchasing possibility activates only after you verify your account. The higher levels of verification are achieved by providing more personal information to the website. This includes full address, documents scans and other details that prove your identity. The amount of coins you are allowed to buy grows proportionally to the information you share.

Pros and cons

Coinmama’s positive features:

  • The exchange supports a wide range of countries the number of which is limited to unavailability of Mastercard or Visa in certain places
  • Coinmama allows Western Union payments
  • The service works fast, transferring coins right after the payment is made
  • The highest daily purchasing limit is $50,000 for users of the second level and up to 1 million dollars for those who have the third level, which is one of the highest limits available on the market

And some weak sides of Coinmama:

  • Customer support is available only via email (no online chat or phone is available), which makes communication significantly slower
  • Coinmama has relatively high fees
  • The website doesn’t provide any charts, graphs or other trading tools
  • Mind that Coinmama only sells bitcoins and ether to you, but don’t buy your cryptocurrency
  • The service doesn’t have a mobile application
  • Only two currencies are available: ethereum and bitcoin

Generally, the most significant minus of using Coinmama is its high fees. If you are going to buy coins with your credit card, you will have to pay a significant commission and this downfall cannot be avoided now. Thus, the exchange is reliable and hopefully will make its fees lower in the future.


Client Reviews

★★★★☆
4 5 1

★★★★★
5 5 1
Nice service – it everything that every exchange should do. Support team answers emails and tickets when you have some issues. Bitcoins, Etherum - no problemas. And it’s a great thing that coinmama supports both cards and cash. Hope someday there will be a coinpapa, coisister, and coinbrother!:))

★★★★★
5 5 1
I recommend coinmama to people who are not very profound in bitcoin trading. Simple website, low fees, and the company has a good reputation

★★★★☆
4 5 1
I stay with Coinmama because of their fees, withdrawal time and website interface. Thus, the support team works a bit slow as for me

★★★★★
5 5 1
Good site – very practical and simple

★★★★☆
4 5 1
If you want to use a verified account, you have to give away a lot of your personal information. However, this is apparently a standard procedure. I tried to buy bitcoins from this exchange.

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