Coinmama Review 2025: Is It Safe & Reliable?

You’re ready to start trading Bitcoin, investing, or selling your cryptocurrency, but with so many exchanges available, choosing the right one can be overwhelming. You need a platform that’s secure, easy to use, and reliable to enter Coinmama, a trusted exchange known for simplifying the process of buying and selling crypto.

In this article, we’ll break down Coinmama’s key features, including its supported cryptocurrencies, payment methods, fees, and security measures. Whether you’re a beginner or an experienced trader, this Coinmama Review, brought to you by CoinReviews, will help you determine if Coinmama is the right fit for your crypto needs.

What is Coinmama?

What-is-Coinmama

The beginning of this Coinmama Review addresses the question: What is Coinmama? Coinmama is a well-established cryptocurrency exchange that enables users to buy and sell popular cryptocurrencies with ease. Unlike many leading platforms that offer hundreds of coins, Coinmama focuses on a select range of top cryptocurrencies, including:

Bitcoin (BTC)
Ethereum (ETH)
Dogecoin (DOGE)
Ripple (XRP)
Aave (AAVE)
Chainlink (LINK)
Ethereum Classic (ETC)
Bitcoin Cash (BCH)
Uniswap (UNI)
Tether (USDT)
USD Coin (USDC)

As a “Fiat Gateway,” Coinmama allows users to exchange fiat currency for cryptocurrency, accepting a wide array of fiat currencies, which distinguishes it from exchanges with limited options.

However, Coinmama operates differently from many other exchanges, offering only buying and selling without trading, staking opportunities, a mobile app, or a crypto wallet. This straightforward approach can be a significant advantage for newcomers to the crypto space, providing an uncomplicated entry point.

With availability in over 200 countries and a user base exceeding 3 million, Coinmama is a popular choice, despite some regional restrictions in areas like Hawaii and New York. While it may lack certain features found in other exchanges, its emphasis on user-friendliness makes it an appealing option for those embarking on their cryptocurrency journey.

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Coinmama Review: key features

Coinmama is a cryptocurrency brokerage that simplifies the process of buying and selling crypto for your chosen fiat currency. As a non-custodial platform, it’s essential to have a private cryptocurrency wallet set up before using the service, ensuring that you maintain complete control over your digital assets at all times.

Global Reach: With availability in 188 countries, Coinmama provides a gateway for users around the world to engage in cryptocurrency transactions. This expansive reach makes it easier for users from various regions to access the crypto market.
Support for Top Cryptocurrencies: Coinmama allows you to purchase a selection of popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and many others. This variety enables users to diversify their holdings easily.
Diverse Payment Options: Coinmama offers a range of payment methods, allowing users to buy crypto using credit or debit cards, bank transfers, Apple Pay, and other convenient options. This flexibility makes it easier for users to fund their purchases in a way that suits their preferences.
24/7 Customer Support: The platform features a responsive customer support team that is available around the clock to assist users with any questions or issues they may encounter. This dedication to customer service helps foster a positive user experience.
Secure, Non-Custodial Platform: As a non-custodial service, Coinmama allows users to control their private keys, significantly reducing counterparty risks associated with storing digital assets on exchanges. This security feature is crucial for protecting your investment.

Finally, this Coinmama Review highlights that Coinmama is an excellent choice for both beginners and experienced users looking for a reliable fiat-to-crypto gateway. With its quick, secure services and user-friendly interface, Coinmama stands out in the cryptocurrency space as a dependable platform for purchasing digital assets. Whether you’re just starting your cryptocurrency journey or looking for a straightforward way to manage your investments, Coinmama provides a solid foundation to help you navigate the world of crypto.

Background and history of Coinmama

Coinmama was founded in 2013 by New Bit Ventures, initially incorporated in Israel as a Slovakian company. It now operates under NBV International s.r.o., based in Dublin, Ireland, and is a subsidiary of New Bit Ventures Ltd. Both entities are regulated as Money Service Businesses with FinCEN. All transactions are processed by New Bit Ventures Ltd.

As of 2021, Coinmama’s mission is to make buying digital currency “fast, safe, and fun.” The leadership team includes CEO Sagi Bakashi, who has 20 years of high-tech experience, and co-founder Nimrod Gruber.

Coinmama serves over 2.4 million users in 188 countries, although it is unavailable to residents of nations under US embargoes, UN sanctions, or HM Treasury’s financial sanctions, including Iran, North Korea, Cuba, Syria, and the Ukrainian/Russian Crimea region.

Coinmama fees

Coinmama features a straightforward fee structure that calculates costs based on the TradeBlock XBX index, which reflects the average market rate for cryptocurrencies. For buy orders, the fees are determined using the formula: XBX price + 2% standard deviation fee + a commission fee up to 3.90%. If you use a credit or debit card for locked-rate purchases with instant delivery, an additional 5% payment processing fee applies.

When placing buy orders through SWIFT bank transfers, a minimum order of USD 1,000 is required; otherwise, a fixed fee of USD 20 will be charged. This fee does not apply to SEPA transfers or SWIFT Faster Payments in the UK. Selling crypto incurs a similar fee structure, with fees ranging from 0.1% to 0.9%.

coinmama-review-fee

In this Coinmama Review, it’s important to note that Coinmama adjusts its fees based on cumulative purchases over a rolling 90-day period, categorizing users into three tiers:

Crypto Curious: 2.9% for up to USD 5,000 in purchases.
Crypto Enthusiast: 2.5% for purchases between USD 5,000 and USD 18,000.
Crypto Believer: 2.1% for purchases exceeding USD 18,000 or over USD 50,000 lifetime.

Concisely, basic purchases can incur fees between 5.9% and 10.9%, while selling crypto is slightly cheaper at around 2-3%. While Coinmama offers a user-friendly experience, it is generally on the more expensive side of fiat-to-crypto gateways.

Design and usability of Coinmama

Coinmama is an exceptionally user-friendly platform, ideal for beginners looking to buy and store cryptocurrency safely. Designed with novice users in mind, it simplifies navigation throughout the buying process. As a non-custodial broker, Coinmama doesn’t offer digital wallet services; instead, it sends your purchased cryptocurrency directly to your personal wallet, enhancing security and control.

To use Coinmama, you’ll need a cryptocurrency wallet set up in advance. We recommend hardware wallets like Ledger or Trezor for maximum security, as they provide robust protection against online threats. Coinmama enables seamless transactions, allowing users to buy and sell up to USD 15,000 worth of cryptocurrency daily. After a transaction is confirmed, payouts are transferred directly to your bank account, making it easy to convert digital assets back to fiat currency.

This Coinmama Review underscores that the platform offers a convenient and efficient way to trade cryptocurrency directly with your private wallet. Its intuitive design simplifies the process, making it a great recommendation for friends and family seeking a secure entry point into crypto. Although Coinmama lacks a mobile app, its responsive website is well-optimized for smartphones, providing easy access anytime, anywhere.

Coinmama customer service

Coinmama’s customer service is available 24/7 through several convenient channels, ensuring users can get assistance whenever needed. These include:

Website Chat: Engage in real-time conversations with support representatives for quick resolutions.
Help Center: Access a comprehensive collection of articles and FAQs to find answers independently.
Contact Us Form: Submit specific inquiries through a form on the website for detailed assistance.
Social Media Channels: Reach out via platforms like Facebook, Twitter, LinkedIn, and Telegram for support and updates.

The support team is known for its quick response times, typically answering inquiries within minutes. This commitment to customer service enhances the overall user experience, reinforcing Coinmama’s reputation as a reliable cryptocurrency exchange.

Coinmama security measures

Coinmama is a non-custodial platform, meaning it doesn’t hold user coins, which enhances security compared to centralized custodial exchanges. While Coinmama has not faced major hacks, it did experience a customer data breach in early 2019, affecting about 450,000 accounts. Fortunately, no client credit card information was compromised, as the breach was part of a larger attack on multiple websites.

Though Coinmama is secure, it may not be ideal for privacy-conscious users, as it is regulated as a Money Service Business (MSB) by FinCEN in the United States. This regulation requires users to submit personal information for transactions, making Coinmama a legitimate and trustworthy crypto broker.

Users can protect their accounts with strong passwords, but there is currently no option for two-factor authentication (2FA). However, this is less of a concern since no cryptocurrency is held within the Coinmama account; all purchases are sent directly to a personal wallet.

In summary, Coinmama is a reliable and secure crypto broker. While it may not cater to privacy enthusiasts, it remains an excellent option for acquiring coins and depositing them directly into your wallet, making it a noteworthy mention in this Coinmama Review.

Pros and cons explained

Coinmama has garnered attention in the cryptocurrency space for its straightforward approach to buying and selling digital assets. Here’s a breakdown of its advantages and disadvantages based on our Coinmama Review:

Pros explained

Platform Simplicity: Coinmama offers a user-friendly interface, making it easy for customers to buy and sell crypto. Its focus on simplicity can be beneficial for those seeking an uncomplicated exchange experience.
Longevity in the Cryptocurrency Space: Founded in 2013, Coinmama has established itself as a reliable platform within the crypto industry, instilling confidence among users.
Strong Focus on Security: To enhance user safety, Coinmama verifies its users to prevent fraudulent activity and employs robust security measures, including two-factor authentication for account protection.

Cons explained

No Cryptocurrency Wallet: Unlike many other platforms, Coinmama does not provide a built-in cryptocurrency wallet. This may be inconvenient for users who prefer to buy, sell, and store their crypto all in one place.
Limited Options: Coinmama focuses solely on facilitating the buying and trading of cryptocurrencies, which means users seeking additional financial products or tools will need to explore other platforms.
High Fees: The fees associated with Coinmama’s services tend to be higher compared to other platforms that offer similar services at a lower cost.

Opening an account at Coinmama

Opening an account on Coinmama is a straightforward process that allows users to start buying and selling cryptocurrencies quickly. This Coinmama Review provides a step-by-step guide for registration and verification.

Registration

To begin, visit the home page and click on “Sign Up” in the top right corner.

Fill out the requested information, including your name, email, password, and country of residence.

sign-up-at-coinmama

Once your account is created, Coinmama will prompt you to complete your profile as part of the verification process. You’ll need:

A government-issued ID
Your mobile phone with a working camera for a selfie

When you’re ready, click “Complete My Profile” and follow the step-by-step instructions.

You’ll first enter your full name, date of birth, and gender, then click “Next.” Next, provide your country of residence, address, and phone number, and click “Next” again.

Verification process

To complete the KYC process, you’ll need to upload your identification and additional photos. Have your ID, mobile phone, and a piece of paper handy, then click “Let’s Go.”

verify-Acc-on-coinmama

Select your government ID type and issuing country from the drop-down menus, then enter your ID number and expiration date. Click “Next” when finished.

You can choose to continue on your desktop or switch to your mobile device. For this demonstration, we’ll proceed with the desktop.

Upload your passport, ensuring that:

All four corners are visible
The text is clearly readable
The image is in color and unaltered

Once uploaded, click “Looks Good.”

Next, take a selfie that includes your ID and a piece of paper with “Coinmama” and today’s date written on it. Ensure that:

Your entire face is visible
The text on your ID is clearly readable
You’re holding both the ID and the paper note

After uploading the selfie, click “Looks Good.”

After you submit your registration, Coinmama will send a confirmation email to the address you provided. To continue, simply click the “Confirm Your Email” link provided in the email.

Once you confirm your email, the verification process will begin, typically taking around 30 minutes to complete. However, during peak times, the process may take several hours to complete. Be sure to check your inbox for any updates or further instructions regarding your account status as Coinmama verifies your information.

How to buy crypto on Coinmama?

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Buying cryptocurrency on Coinmama is straightforward and efficient. Here’s a quick guide provided by CoinReviews:

Log In: Start by signing into your Coinmama account. If you’re a new user, you’ll need to register and go through the verification process to confirm your identity. This involves providing necessary information and submitting valid identification.

Buy Crypto: After logging in, head to the “Buy Crypto” section on the platform. Here, you’ll find a user-friendly interface that allows you to select your desired cryptocurrency, such as Bitcoin or Ethereum, as well as the fiat currency you wish to use for the transaction, making it easy to plan your purchase.

Enter amount: After selecting your cryptocurrency and fiat options, input the amount you want to purchase. Coinmama also offers a variety of predefined packages, which can be a convenient option for those looking to make quick decisions without needing to calculate amounts themselves.

Provide wallet address: Since Coinmama operates as a non-custodial platform, you must enter your external wallet address where the purchased cryptocurrency will be sent. Ensuring this address is correct is crucial, as any errors could result in the loss of your assets.

Choose payment method: Next, select your preferred payment method from the available options, which may include credit card, bank transfer, or other local payment solutions. Follow the detailed instructions for your selected payment method to ensure a smooth transaction.

Confirm wallet: After providing your wallet address, Coinmama will send a confirmation email to verify that the address is correct. It’s important to check your inbox and confirm this address to prevent any issues with the transfer of your cryptocurrency.

Receive coins: Once you’ve confirmed your wallet address and the payment has been processed, your cryptocurrency will be sent directly to your wallet. Typically, this transfer occurs almost instantly, allowing you to enjoy your newly acquired digital assets without unnecessary delays.

This straightforward and efficient process makes Coinmama an ideal platform for those looking to make quick and secure cryptocurrency purchases, whether you’re a beginner or an experienced trader.

How to sell coins on Coinmama?

Selling Bitcoin on Coinmama is a straightforward process that allows you to convert your cryptocurrency into cash efficiently. Here’s a concise step-by-step guide based on this Coinmama Review:

Log Into your account: Start by logging into your Coinmama account. If you’re new to the platform, you’ll need to register and finish the verification process.

Select Sell Crypto: Navigate to the “Sell Crypto” section, designed for easy transactions.

Enter the amount: Specify either the amount of Bitcoin you want to sell or the fiat currency amount you wish to receive. Coinmama will calculate the corresponding amounts based on current rates.

Create your order: Fill in your bank details, including your country and account information, ensuring accuracy to avoid processing delays.

Send your Bitcoin: Coinmama will provide a unique wallet address for your Bitcoin transfer. Double-check this address for accuracy before sending.

Receive your funds: After Coinmama confirms receipt of your Bitcoin, the funds will be transferred to your bank account. You will receive email notifications to update you on the status of your transaction.

Deposit and withdrawal methods

Coinmama provides a variety of deposit and withdrawal options to accommodate users across different regions. The platform accepts all fiat currencies from countries where it operates, including popular currencies like USD, EUR, GBP, CAD, AUD, and JPY. This broad support ensures users can easily fund their accounts in their local currency.

payment-method-at-coinmama

Coinmama offers a variety of flexible payment options, including bank transfers, credit card purchases, and several local payment solutions. This variety allows users to select the option that best fits their preferences, whether they prioritize speed or reliability. Once payment is received, orders are executed promptly, ensuring a seamless transaction experience. While Coinmama doesn’t facilitate cryptocurrency deposits, it does enable users to sell Bitcoin directly from their accounts, making it easy to convert back to fiat currency.

These deposit and withdrawal methods not only streamline the purchasing process but also contribute to Coinmama’s reputation as a trustworthy platform. Users can engage in cryptocurrency transactions with confidence, assured by the availability of efficient and secure options. In our Coinmama Review, we cover how these features enhance the overall user experience, making it a suitable choice for both newcomers and experienced crypto enthusiasts.

Is Coinmama safe?

Coinmama prioritizes security by not storing bank card details or requiring users to link a bank account. The platform implements a strict Know Your Customer (KYC) process, which involves providing your name, address, and a valid ID, like a driver’s license or passport, to enhance account safety. Additionally, Coinmama utilizes 256-bit SSL encryption from Trust Guard and Comodo to protect sensitive information. However, being a centralized exchange means there is a risk of personal information exposure if the platform were hacked, unlike decentralized exchanges where users retain control over their assets. Although Coinmama doesn’t provide an online wallet, this approach encourages users to create secure digital wallets, allowing them to maintain full control over their private keys.

Coinmama provides optional two-factor authentication (2FA) for additional security, and we recommend enabling it to safeguard your account from unauthorized access. This Coinmama Review points out that the significance of prioritizing security while using the platform, ensuring a safe and reliable cryptocurrency trading experience.

Coinmama vs. other exchanges

When assessing cryptocurrency exchanges, it’s essential to compare different platforms to determine which one aligns best with your specific needs. As emphasized in this Coinmama Review, Coinmama stacks up against competitors like Coinbase, Changelly, Binance, OKX and Bybit. Each platform has its unique features, fees, and user experiences, making it crucial to understand their differences before diving into the crypto market. Here’s a closer look at how Coinmama compares to these popular exchanges.

Coinmama vs. Coinbase

Coinbase is a well-known cryptocurrency exchange that charges variable fees for credit card purchases but fails to disclose these fees upfront, which can lead to unexpected costs for users. This lack of transparency can catch users off guard during the checkout process. Unlike Coinmama, which is available in many countries, Coinbase operates in a more limited number of regions, potentially preventing some users from accessing its services. Additionally, Coinbase has faced criticism for its customer support, with many users reporting difficulties in getting timely assistance for their inquiries.

Coinmama vs. Changelly

When comparing Coinmama to Changelly, Coinmama distinguishes itself with a transparent flat fee structure, charging up to 3.90% commission on buy orders and an extra 5% fee for credit or debit card transactions. This clarity in pricing can help users better understand the costs associated with their purchases. It also offers fee-free bank transfers, making costs predictable for users. Changelly, while formerly known for high credit card fees, now provides more competitive rates that vary based on the payment processor, encouraging users to experiment with different methods for potential savings. To summarize, Coinmama is ideal for those who value straightforward pricing, while Changelly may suit users willing to explore fee options.

Coinmama vs. Binance

Binance offers users the option to purchase cryptocurrency using credit cards, either through its own platform or via third-party providers like Simplex. The exchange rates provided by Binance are generally comparable to those of Coinmama. While some users claim that Binance’s Know Your Customer (KYC) process is more straightforward, experiences can differ. Users may find Coinmama’s KYC process to be just as efficient, depending on their individual circumstances. In essence, both platforms provide unique advantages, making them suitable options for different types of users.

Coinmama vs. OKX

OKX is another popular cryptocurrency exchange that allows users to buy crypto using credit cards. Unlike Coinmama, OKX offers a wider range of cryptocurrencies for purchase, giving users more options. However, OKX has a more complex interface, which may be intimidating for beginners. The platform provides competitive fees, but users should check the exact rates during transactions, as they can vary depending on the payment method. OKX also supports a broader array of countries than Coinmama, making it accessible to a larger audience.

Coinmama vs. Bybit

Bybit is primarily known as a derivatives exchange but also offers options for purchasing cryptocurrencies with credit cards. Similar to Coinmama, Bybit has a user-friendly interface but provides a more extensive selection of trading features and products, which may appeal to more experienced traders. While Bybit’s fees can be competitive, they can vary based on the type of transaction and payment method used. Users considering Bybit should also be aware that it operates differently than Coinmama, as Bybit allows trading on leverage, which adds a layer of risk not present in Coinmama’s straightforward buying process.

Coinmama Review- Frequently asked questions

How long does it take for Coinmama to send my crypto once I’ve paid?

Once your wallet address and payment are confirmed, you can expect to receive your coins within minutes. However, the actual timing may vary based on the payment method used. For instance, SEPA transfers can take up to 12 hours, while SWIFT transactions may take 3 to 5 days. Most other payment methods typically clear within an hour.

How does Coinmama secure my data?

Coinmama is fully GDPR compliant, ensuring that all personal information and documentation are encrypted for enhanced security. Additionally, it does not store credit or debit card details on its website or servers, prioritizing user privacy and protection.

Can Coinmama facilitate trades between sellers and buyers?

No, peer-to-peer transactions are not possible on Coinmama. All transactions are conducted exclusively between you and Coinmama, ensuring a straightforward buying and selling process.

Does Coinmama accept bank transfers?

Using your bank account for purchases on Coinmama allows you to enjoy higher spending limits and minimal or no payment processing fees. Coinmama now provides multiple bank transfer options for buying Bitcoin, making the process more accessible and cost-effective.

What is the Coinmama limit?

Coinmama currently permits bank transfer purchases of up to $12,000 per day. Unlike credit and debit card transactions, there are no additional processing fees charged for bank transfers, making it a cost-effective option for larger purchases.

Is Coinmama the right choice for you in 2024?

When deciding whether to choose Coinmama in 2024, it’s essential to assess how well it meets your cryptocurrency goals. This Coinmama Review presents the platform’s strengths, especially for beginners drawn to its simplicity and ease of use. Coinmama’s straightforward interface allows users to buy popular cryptocurrencies like Bitcoin quickly and securely, making it a compelling choice for those just entering the crypto market.

One key advantage is Coinmama’s strong security measures. The platform uses encryption to protect user data and does not store credit card information, which adds an extra layer of protection. However, it’s important to note that Coinmama operates as a non-custodial platform, meaning users need to manage their own cryptocurrency wallets. This lack of an integrated wallet could be a drawback for those seeking an all-in-one solution that simplifies both purchasing and storing digital assets.

Coinmama’s flexibility in payment methods and high daily purchase limits are other notable features. The platform supports multiple fiat currencies and payment options like credit cards, bank transfers, and Apple Pay, making it accessible to users across the globe. While Coinmama’s fees might be slightly higher compared to other exchanges, the convenience, security, and user-friendly experience it offers can make the higher costs justifiable, especially for beginners prioritizing simplicity over complex trading tools.

Overall, whether Coinmama is the right platform for you in 2024 depends on what you’re looking for in a cryptocurrency exchange. If ease of use, security, and access to major digital assets like Bitcoin are your priorities, Coinmama could be a strong contender. However, if you prefer a more feature-rich platform that offers advanced trading options, staking, or a broader range of cryptocurrencies, it might be worth exploring other alternatives before making your decision.

Conclusion

Ultimately, this Coinmama Review highlights Coinmama as a dependable choice for individuals looking to enter the cryptocurrency market with ease and confidence. Its straightforward process and emphasis on security make it an attractive option for both beginners and experienced users. However, its limited features like the absence of trading or staking options and higher fees may not suit everyone’s needs.

As you consider your cryptocurrency options in 2024, evaluate how Coinmama aligns with your investment goals. Understanding your requirements will help you choose the right platform for navigating the dynamic world of digital assets. For additional information about Coinmama and other cryptocurrency platforms, check out CoinReviews.

Coinmama Review 2025: Safe And Simple Crypto Purchases Explained