Coinmama is a straightforward cryptocurrency exchange that offers newcomers a basic and simple way to buy and sell cryptocurrency. It was established in 2013 and is headquartered in Ireland, and has served over three million customers around the world. Unlike some other exchanges which offer a full suite of products and tools, Coinmama is a basic exchange that could be well-suited for novice crypto investors who have crypto wallets on other platforms.
Coinmama is available in 188 countries, and gives users to purchase cryptocurrency using credit cards, debit cards, bank transfers, Apple Pay, and Google Pay.
Though it is normal for exchanges to offer hundreds of assets, Coinmama only has a handful of coins available.
Though its trade options are limited, Coinmama’s interface is userfriendly and intuitive. Coinmama doesn’t support crypto-to-crypto trading, and users can only sell Bitcoin through this platform. Customers can click the Buy or Sell tab to initiate a transaction on their online dashboard or the mobile app.
Some assets do require a minimum purchase amount. For example, there’s a $50 minimum on Bitcoin.
Coinmama is strictly an exchange, and so doesn’t hold user funds on the platform. Users must have a wallet elsewhere to hold their cryptocurrency. This eliminates some of the risks users face when storing their funds on a platform.
In addition to these features, Coinmama users are required to verify their identity by providing a driver’s license, passport, or another valid government-issued ID. Customers are also encouraged to enable two-factor authentication, though it isn’t required.
What makes Coinmama attractive is that it’s open to newcomers, and its easy to open an account. It’s also a trusted service and has been in operation for nearly a decade.
Coinmama offers customer service via a form on its website and a chatbot. In addition to its customer support options, Coinmama also has a help center where users can find answers to common questions about account management, fees, and more.
Coinmama is a simple, straightforward platform for buying and selling crypto. Its ease of use makes it a great option for certain customers. However, it has relatively high fees and users looking for expanded product offerings such as crypto rewards credit cards or crypto-backed loans will need to look elsewhere.
Protecting Your Cryptocurrency And Staying Safe on Coinmama
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