Pros
Cons
Quick Summary
Headquarters Location | Ramat Gan, Tel Aviv, Israel |
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Fiat Currencies Supported | USD, AUD, GBP, CAD, EUR, NZD + 180 others (some through third party apps) |
Total Supported Cryptocurrencies | 13+ |
Trading Fees | 0.10% - 0.90% |
Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Skrill, Neteller, Giropay, Astropay, Khipu, WebPay, PSE, SPEI |
Support | Twitter, Help Center Articles, Support Ticket |
Mobile App | Yes - Android |
Coinmama is a well-recognised player in the cryptocurrency exchange landscape, having paved the way for many investors to step into the world of digital currency. This introduction serves as the gateway to our comprehensive Coinmama Review, where we will delve into the platform’s features and services.
As the digital age progresses, exchanges like Coinmama play a crucial role in bridging the gap between traditional fiat currencies and the burgeoning world of cryptocurrencies. Far from resting on its laurels, Coinmama continues to evolve, improving its platform to meet the dynamic needs of its users.
In a space where technology and regulations change at a rapid pace, Coinmama consistently adapts to provide an efficient service that aligns with the latest market developments.
About Coinmama
Coinmama was founded with the intention of simplifying the crypto purchasing process for buyers worldwide. Established in 2013, it has gradually expanded its reach and now provides services in a multitude of countries.
As a platform, it has built a reputation for enabling quick and straightforward buying of cryptocurrencies.
Since its inception, Coinmama has witnessed fluctuating crypto market trends and significant technological advancements. These events have shaped the exchange’s trajectory, compelling it to adapt and expand its offerings to cater to an ever-growing user base.
Historical milestones, like the Bitcoin halving events and the emergence of Ethereum as a major asset, have influenced Coinmama’s strategy and product development. The platform’s growth reflects the broader adoption of cryptocurrencies as both a form of investment and a means of decentralised finance.
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 13 cryptocurrencies on their platform. This exchange currently supports 7 of the top 30 market cap cryptocurrencies.
View all cryptocurrencies Coinmama supports
- AAVE
- BCH
- BTC
- COMP
- DOGE
- EOS
- ETC
- ETH
- LINK
- LRC
- NMR
- UNI
- WBTC
Trading Experience
The trading experience on Coinmama is marked by an intuitive interface that guides users through the buying process, from selecting coins to finalising a purchase. Its commitment to providing a user-friendly platform resonates well with both beginner traders and those looking for a seamless transaction.
The trading experience on Coinmama is characterised by the careful calibration of features to suit both novice and advanced traders. The interface is designed to streamline the buying process, making it straightforward for users to purchase a variety of cryptocurrencies.
The focus is not just on the ease of buying but also on providing educational steps to guide users through the nuances of cryptocurrency trading. This balanced approach enhances the overall user experience and caters to the needs of a diverse trading community.
Coinmama Fees
Coinmama’s fee structure is designed to be transparent, with costs associated with purchasing cryptos being clearly outlined on the platform. While specific numbers are not discussed here, it’s important to note that fees are calculated based on several factors, including transaction volume and the chosen payment method.
The transaction fee is an integral part of any crypto exchange, and Coinmama has structured its fees to maintain transparency, aligning with industry standards. The platform’s approach to trading fees is to ensure users are aware of the costs upfront, fostering trust and clarity in every transaction.
While Coinmama’s fees are a key consideration, the overall customer experience remains a priority, evidenced by the multitude of payment options available that cater to different user preferences.
Type | Fee |
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Deposit Fee (Bank Transfer) | 0% |
Deposit Fee (Credit/Debit Card) | 4.50% - 6.50% |
Trading Fee | 0.10% - 0.90% |
Withdrawal Fee (Bank Transfer) | 0.10% - 0.90% |
Security - Is Coinmama Safe?
Coinmama doesn’t compromise on security, employing robust measures such as two-factor authentication and adherence to regulatory standards. This ensures that customers’ personal details, wallet addresses, and payment information remain secure, maintaining Coinmama’s integrity in the cryptocurrency market.
Coinmama’s commitment to security is unwavering. The platform has employed security measures like two-factor authentication and adherence to the standards set forth by the Money Services Business.
Coinmama’s vigilance ensures the safety of personal details, wallet addresses, and payment information against unauthorised access. This holistic security strategy is vital for protecting users’ cryptocurrency holdings and maintaining the exchange’s reputation as a safe place to conduct digital asset transactions.
Coinmama Customer Support
Customer service is a pillar of Coinmama’s offering, with the exchange providing a dedicated support channel to address user inquiries. The support team works tirelessly to ensure that customers receive timely and effective assistance, often reflected in the positive feedback from the user community.
Coinmama recognises the importance of dedicated customer support as part of the user experience. The customer service team is an essential component, available to assist users during business hours and beyond.
The support provided is not merely reactive but also proactive, aiming to educate users and prevent fraudulent activity. Coinmama’s customer support service is a testament to their dedication to their customers, striving to deliver an exceptional standard of care.
Coinmama Support Channels
How to Sign Up on Coinmama
- 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.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
Coinmama Alternatives
Binance
Total Supported Cryptocurrencies
386+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
233+
Trading Fees
0.06% - 0.16%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
332+
Trading Fees
0.06% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
Assessing Coinmama holistically, it’s apparent that the exchange positions itself as a straightforward and reliable gateway for those looking to purchase cryptocurrencies. The platform has made strides in terms of ease of use and speed of service, catering especially to those new to the crypto space.
To see where Coinmama stands in comparison to other crypto exchanges, view our article comparing Coinmama vs Coinbase.
Coinmama FAQs
Yes, Coinmama operates in Australia and allows Australian users to buy cryptocurrencies using their platform.
Coinmama does not hold cryptocurrencies for users; it simply facilitates the purchase of cryptocurrencies. You would need to have your own cryptocurrency wallet to receive the coins you buy on Coinmama.
To “withdraw” your money, you would sell your cryptocurrency on a different platform that allows you to sell and withdraw fiat currency to your bank account.
To buy bitcoins from Coinmama in Australia, you need to create an account on Coinmama, complete the necessary KYC (Know Your Customer) verification, enter the amount of Bitcoin you want to purchase, provide your wallet address, and pay with your preferred payment method.
Coinmama charges a fee which can vary depending on the market rate and the chosen payment method. Their fee is generally included in the quoted price of the cryptocurrency.
Coinmama typically accepts various payment methods including credit card, debit card, and bank transfers. The availability of specific payment methods may differ by country.
The verification process on Coinmama can vary in time. Generally, it can take from a few minutes to several hours.
However, during times of high demand, the verification process may take longer.
The time it takes to buy Bitcoin on Coinmama depends on the payment method and the speed of the network. Credit and debit card transactions are generally processed quickly, while bank transfers may take longer to complete.
Coinmama User Reviews
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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.