Coinmama offers an Instant Buy and Sell option that provides fast processing and immediate delivery of cryptocurrencies to users’ wallets. Regarding reputation, Coinmama has generally positive user feedback for quick transactions and ease of use, though some users note relatively high fees compared to other exchanges. Unlike many crypto exchanges, Coinmama is not a full crypto exchange, and it does not allow trading between cryptocurrencies or provide a crypto wallet service. Unlike traditional exchanges, Coinmama operates as a non-custodial broker, meaning it does not hold or store users’ cryptocurrency funds or payment details. Coinmama is a cryptocurrency broker exchange that allows users to buy and sell crypto quickly and securely. Buyers must hold or create their own wallets and provide an address for orders placed on platform.
Selling via Coinmama proved to be a highly manual process, requiring users to send the crypto directly to Coinmama. The KYC process begins during the final steps of your first crypto purchase or sale. Our process included signing up, completing the KYC verification, logging in, and testing the platform. The company is most active on Facebook with daily posts, which I found strange as it’s not typically a crypto-focused platform. Our evaluation process and criteria are designed to assess sophisticated trading platforms. CryptoNinjas aims to expand knowledge and understanding of the cryptocurrency and blockchain space.
Continuous monitoring and cold wallet segregation keep users funds separate from corporate capital, maintaining clear proof of reserves at all times. Shoppers choose a bundle such as five hundred dollars in Bitcoin or type a custom amount, then paste a wallet address and click Buy. The website removes complexity by displaying preset crypto packages in fiat currency.
Sell Order Fees
Using a secure Wi‑Fi network instead of public hotspots lowers the chance of packet snooping during account creation. Verify the padlock icon, which shows the HTTPS certificate is valid, so your personal details and payment information travel over an encrypted channel. The Coinmama platform shows a progress bar during each stage so you know exactly which personal details remain missing. Coinmama follows a three‑tier verification system that balances speed and coinmama exchange review regulatory duty. Active traders often route coins to a full order‑book exchange or a peer‑to‑peer desk where the combined cost of off‑loading BTC can fall under two percent.
Tiered Verification System
This is unfortunate, as discovery tools are valuable for crypto beginners to explore and identify the coins that best suit their needs. Coinmama’s crypto search feature is quite basic, consisting only of a simple search bar. Coinmama’s payment system closely resembles Paybis, likely due to outsourcing some of its payment processing to them. Coinmama’s £5.69 fee for a small sale of just £23.69 felt excessively high for such a small amount, a 24.06% fee! After 5 minutes, the page updated, letting me know the transaction was complete.
Step 3: Selling Crypto and Review
Outside chat hours users can open an email ticket or browse a searchable FAQ that answers common questions about payment methods, coinmama fees, and verification tiers. In terms of payments and fees, when you use a bank card at Coinmama, you will incur a 5% express fee on your transaction. By accepting a wide range of fiat currencies not only does this crypto exchange give its clients additional payment methods, but it also removes added conversion fees, thus offering a better fiat to crypto rate. While this does improve the security and safety of crypto exchange it means that you will need to source your cryptocurrency wallet when making any transactions.
Understanding the Coinmama Crypto Exchange Platform
I was puzzled by the exceptionally high fees, far above the 3.9% commission advertised on their website. Coinmama is not a trading platform, so a comparison of its Maker/Taker model, as we typically conduct in our tests, is not applicable. The crypto swaps tool supports 500 tokens — well beyond the 82 tokens available on the main exchange. Coinmama is a desktop-only platform offering a simple and intuitive interface that caters to crypto novices.
EToro, the social trading platform, which is now home to more than 20 million users worldwide, has tons of trading tools and resources for beginner traders to take advantage of. Let’s dive into the specifics as to why we recommend eToro over Coinmama when it comes to buying and selling cryptocurrencies online. The unofficial subreddit for Coinmama has just over 100 members and is a great social platform to interact and communicate with other crypto traders and Coinmama users. Then all that is left to do is to confirm the crypto wallet address via email and your cryptos will be added to your crypto wallet. Just specify the number of crypto coins you want to purchase, enter your payment details. Advanced crypto traders disseminate their coins across several crypto wallets depending on their needs.
eToro: Best Crypto Trading Platform with Low Fees
Coinmama’s fees are based on the TradeBlock XBX Index, which is the market rate based on all known providers. In this section of our Coinmama review 2025, we will cover what cryptocurrencies and markets you can access. Coinmama calculates its fees based on the TradeBlock XBX Index, which is the mean rate or market rate based on all registered providers. When it comes to fees, Coinmama is renowned for its low-cost commission model. With Coinmama you can also sell Bitcoin for different fiat currencies such as US dollars, UK Sterling, and euros.
The verification process typically takes around fifteen minutes and after that, you can buy and sell Bitcoin and other cryptocurrencies on Coinmama from the comfort of your own home. By providing your personal details such as proof of ID and address, you help the crypto exchange combat fraud and keep your account safe. On May 27th, 2019, Coinmama announced that its users can purchase cryptocurrencies using Australian Dollars, Canadian Dollars, Japanese Yen, Great British Pounds, Euros and US Dollars. Nevertheless, clients can only sell Bitcoin for fiat currencies including US dollars and UK pounds on the crypto exchange. Seeing as cryptocurrencies are decentralized, which therefore means that there are no central banks or governments managing the digital currencies, it is vital to note that every crypto exchange selects its own rate.
- After a 2019 data breach, it strengthened security and continues to serve a global user base with an emphasis on safety and ease of use.
- This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted.
- In essence, this 2% spread fee is a standard industry practice to protect brokers from volatility and to manage liquidity risks.
- In my testing, I found Coinmama charged slightly more for buying crypto than selling it on all payment methods except SWIFT.
Step 12
This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. Michael Graw is a freelance journalist who covers finance, trading, and technology.
Customer Support
- It includes tutorials on buying crypto, account verification, and guides on topics such as Bitcoin liquidity and adoption.
- She has covered many topics, from crypto adoption to regulatory developments, delivering well-researched analysis with clarity and depth.
- It asks for details like your address and ID proof (passport or driver’s license) and lets you switch to your phone for a photo if needed.
- Active in the industry since 2017, he focuses on long-term holding, swing trading, and market cycles.
- Users are responsible for securing their wallet’s private keys and seed phrases, meaning that losing these keys would prevent recovery of their digital assets, underscoring the importance of personal security practices.
Cmama Ltd operates and manages the Coinmama platform which is headquartered in Ireland and is a subsidiary of New Bit Ventures Ltd. The simplistic nature of purchasing and selling directly from the provider reinforces its simple and user-friendly layout and design. After you have been promoted to a new loyalty level you can maintain it by meeting the minimum purchase amount during a 90-day timeframe.
Here you will find a comprehensive snapshot of the key Coinmama fees you should bear in mind. Simply put, the loyalty program is divided into three levels of savings with the more cryptocurrencies you trade with Coinmama the more money you save. Coinmama’s sell rates are determined by the TradeBlock XBX Index market rate plus 2% and a selling fee between 0.9% and 1.9%. For example, if you have a budget of $2000 simply divide it by 1.05, and therefore the amount you can spend when selecting how much crypto to purchase would be $1,904.76. This charge is supplemented to your total order depending on the type of card payment you use.
Coinmama is a crypto platform that sells coins directly to customers rather than matching buyers and sellers in an order book. The Coinmama exchange has been active since 2013 and is one of the longest‑running cryptocurrency exchanges still serving retail buyers. These metrics include everything from payments and fees to safety and user experience. This Coinmama review has covered all the key metrics you need to consider when choosing a crypto exchange to suit your trading needs.
What is the Best Wallet for Coinmama Crypto Purchases?
However, the platform does apply various fees for buying or selling cryptocurrency. Coinmama is a non-custodial cryptocurrency broker exchange designed for users who prioritize ease and security over advanced trading features. After verification, users select the cryptocurrency they wish to buy and provide a third-party wallet address to which the crypto will be sent. The platform primarily functions as a fiat gateway, enabling users to buy and sell a limited selection of popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, and Ripple. In this Coinmama review, we cover the exchange, including how it works, its best features, pros and cons, transaction fees, and a guide to registering, buying, and selling crypto assets.
The main security benefit of this model is the elimination of third-party risk; there is no centralized custody that could be hacked, compromised, or become insolvent. Then, undergo a verification process to confirm your identity and access purchasing features. Coinmama is considered a legitimate, reliable, and secure platform with a longstanding presence since 2013. It emphasizes security through measures such as SSL encryption and two-factor authentication.
Currently, Coinmama users can buy and sell Bitcoin and eight other altcoins including Ethereum, Ripple, and Litecoin. At FXEmpire, we strive to provide unbiased, thorough, and accurate exchange reviews by industry experts to help our users make smarter financial decisions. At FXEmpire, he has written a dozen in-depth crypto exchange reviews and Europe-focused guides. As mentioned previously, it displays inaccurate information on fees, leading me to believe some of the content is outdated. Its content focuses on the basics of crypto, which I think is awesome to see a smaller exchange like Coinmama put effort into.