Is Coinmama safe and legit? Pros and Cons of Coinmama

coinmama exchange review

After all, you don’t want to be constantly struggling to figure out how the platform works. Try to find a platform that isn’t cluttered or overly complicated. The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Wellfield builds advanced technology that uses blockchain to create the next generation of financial solutions for institutions and consumers. The Enthusiast level gives you a 12.5% cut on all fees, and the Believer gives you a 25% cut.

  • These sites receive crypto much faster, claim to have instant transactions, and are good for purchasing small amounts of digital currency.
  • This exchange is powered by Coin (CRO) which is the native token of the Chain.
  • There are multiple ways you can buy and sell bitcoin in Vancouver.
  • However, it is essential to understand the risks involved and ensure you are aware of any applicable fees before engaging in this type of investment.

As such, you should always read reviews and do your research first before dealing with an exchange. There may also be hidden fees charged when depositing and withdrawing. It’s not unusual to find exchanges claiming to have the lowest fees. It’s important to remember that you need to secure your digital assets when trading cryptocurrency. This means that you’ll need to purchase a Bitcoin wallet if buying cryptocurrency to hold for the medium to long term. Wallets come in two forms, software wallets, and hardware wallets.


BitMAX is another big altcoin exchange with a large amount of coins you can trade. You can buy coins as well as trade them on margin, which is pretty unique. This high volume trading platform can also be accessed via in-house mobile app.

coinmama exchange review

Under the “My Account” option on the website of the exchange, you will have the ability to monitor the progress of the transaction at any time. After you have completed the process of picking your currencies, you will be able to choose any of the cryptocurrency packages offered on the website of the exchange. Alternately, you have the option of manually entering the particular purchase amount that you would want to spend in order to acquire Bitcoin.

How can I tell if an online broker is regulated?

If you want to trade or swap crypto, ZenGo lets you do that too. And, you can even use your ZenGo Savings Account to earn interest on your cryptocurrency to put your digital assets to work. And when it’s finally time to move your crypto out of ZenGo, you can always transfer it to another exchange or wallet of your choice.

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Visit other comparable exchanges that provide a greater variety of crypto alternatives for cryptos even if Coinmama does not have your favorite cryptocurrencies in its inventory. A peer-to-peer marketplace is another option for buying bitcoin without ID. These services let you buy bitcoin directly from sellers without going through an intermediary.

Coinmama Exchange Offers the Following Advantages

It isn’t much, especially in comparison to some high-profile exchanges with up to 4,000 crypto assets. However, all of them combined, except perhaps the latter two, offer pretty much 80% of crypto coverage worldwide, so you shouldn’t feel too frustrated at this lack of currencies to trade. It’s not really clear where they came from, but the company itself is registered in Ireland, if you’re interested. Suffice it to say, they are pretty legitimate, and likely not a scam.

coinmama exchange review

You can reach out to them through the in-app chat feature or by visiting their help centre for a more detailed explanation. Established in 2018, Bidget is a Canadian-based crypto provider that’s quickly made a name for itself in the competitive industry. Its ever-expanding list of currencies includes Bitcoin, Litecoin, Polkadot and Ethereum, amongst others. The service is registered with both FinCEN and FINTRAC, which are strict financial regulators that oversee the crypto industry. This should give you some peace of mind in knowing that your money is always safe.

Coinmama exchange review: Features and Possibilities

However, the popular MetaTrader app that can also be used with certain BTC brokers does have Blackberry and Windows phone versions. If you are searching for a Bitcoin broker allowing you to trade on the go nearly as easily as at home, the following list will give you the best options available. Check out the best Bitcoin brokers with in-house mobile app for comfortable and secure mobile trading from everywhere. Talking about fees, Coinmama is known as an expensive exchange, but those who love convenience and security will love to pay that much to use the exchange. For every crypto purchased on Coinmama, the platform’s fee is 5.5%, and 5% is the fee for simplex (the integrated payment gateway).

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Many people already had that problem with their bank, that bank transfers weren’t executed and they had to discus the transaction with the bank. Here you find all Bitcoin brokers which accept payments by bank transfer. Make deposits by wire transfer and cash out your potential profits right back to your bank account.

All you need to do is give your friends/colleagues/family your affiliate link. It’ll lead them to Coinmama official website, and there your referrals will be able to start trading just as you did. Again, you don’t really need to apply for it, but if you trade long and hard enough, Coinmama is going to steadily increase your profits by taking less money off you per trade. They are going to win more in total, obviously, and that means both the use and the exchange increase their profits. At Finty we want to help you make informed financial decisions.

Anyone who is an investor or a trader of cryptocurrency from any country whatsoever can use this exchange platform except the underlisted countries. The advent of cryptocurrency has brought about many online exchanges for trading as there are no physical banks or platforms to buy and sell these cryptos. This is because Coinmama does not hold any users’ assets on the exchange. Selling Bitcoin incurs a fee of 2.93–3.9% depending on your loyalty program status. In addition to there being minimum order amounts, Coinmama charges users 2.93–3.9% for crypto purchases.

You can contact them via email or live chat, and they’ll usually get back to you within a few hours at most. Creating accounts is mainly a hassle-free process, although you will need to go through a more in-depth verification step than some of the other options. Whether this is an issue or not will depend on your level of comfort with providing personal information. All in all, Coinbase’s advanced trading features really come in handy for those who want to take their online exchange to the next level.

  • This is because Coinmama does not hold any users’ assets on the exchange.
  • Coinmama was founded in 2013 with the mission of simplifying the way the world buys cryptocurrencies.
  • You don’t want to be constantly frustrated, spending your days trying to fix the broker’s software.
  • Mind you, they’ll have to complete 3 successful orders (purchases or sales), and only after that the money will start arriving to your account.
  • They are going to win more in total, obviously, and that means both the use and the exchange increase their profits.
  • NBV International, a subsidiary of New Bit Ventures Ltd., is the current owner of the exchange, which has its headquarters in Israel at the moment.

Read reviews that include these topics, and always conduct thorough research before settling on an online broker. Customer service should be responsive, friendly, and knowledgeable. It shouldn’t take a company more than forty-eight hours to respond to an email, and even that’s pushing it. High-quality customer support is a key indicator of a good firm. You don’t want to be constantly frustrated, spending your days trying to fix the broker’s software. Customer reviews are almost always likely to mention if a brokerage firm has technology issues, as that is universally frustrating.