This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies, nor can the accuracy or timeliness of the information be guaranteed. Log into your account to buy Bitcoin or Ethereum with Coinmama. Select the cryptocurrency you’d like to buy and the currency you’d like to pay with. This is because the transactions on blockchain, the system that crypto stands on are irreversible. Therefore, if you send your coins to the wrong address, Coinmama will not be able to retrieve them.

Coinmama Services

• It’s wise to never invest any more than you can afford to lose.
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• The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website.
• Depending on your country of residence, you may not be able to use all the functions of the site.
• Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds.

Coinmama does not store customer’s credit or debit card details on their servers. If an order aborts, the Coinmama system automatically voids the payment within 48 hours and refunds the money back into the user’s bank account. Then you will go through the verification process, uploading an identifying document and a selfie. According to Coinmama, the verification process takes about 30 minutes.

Is your cryptocurrency safe with Coinmama?

Traders often choose to quit Coinmama and join other exchanges where the fees are cheaper since Coinmama’s fees are greater than those of other exchanges. This prevents any compromise of the customer’s cash or financial information from occurring. Customers may utilize the wallet addresses provided by a third-party broker to exercise complete control over their Bitcoin holdings.

Supported currencies on Coinmama

For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and https://www.tokenexus.com/ is for educational purposes only. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation.

Bank Transfer Fee

The first step is to open an account and wait for verification. As Coinmama is an MSB (Money Services Business), you must provide the details Coinmama Review as asked for KYC reasons. Providing your email address, full name, address, and other relevant information helps to protect your account.

After completing the payment, the transaction will then be processed by the credit card processor which will take just a few seconds before being transferable to the customer’s wallet of choice. Once the payment and wallet address are confirmed, the cryptocurrency is sent immediately to the user. The minimum purchase amount on Coinmama is 60 USD (or its equivalent in EUR) at present, although this is based on the price of Bitcoin. You may choose from a number of different payment methods, such as a credit card, a debit card, or wire transfers, using the selection that drops down. For this, you will need to enter either the details for your credit card or the numbers for your bank account.

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• Anyway, you will choose the amount you want to buy then enter your wallet address and your payment method to complete the transaction.

However, Coinmama does perform exceptionally well compared to other similar services. Granted, some of those services might have cheaper transaction fees, but we bet they will not allow you to use your credit or debit card. To purchase Bitcoin using credit or debit cards, Coinmama doesn’t require users to register their credit or debit card in order to purchase cryptocurrency on the exchange. Instead, the procedure is that once users have registered (and regardless of whether or not they have verified their identity). It is a bitcoin brokerage service firm that provides customers with money services business that is safe in every respect. It gives customers the ability to purchase cryptocurrency directly from the exchange itself as opposed to purchasing it through other traders who are trading on the site.