This Coinmama exchange review discusses most of the things about the exchange and its features. However, this article should not be taken as financial advice. Instead, we urge the traders and investors to do their own research before getting involved in cryptocurrencies.
Table of contents
- Coinmama Exchange Details
- History Overview
- Coinmama Exchange Hacking and Other Incidents
- Coinmama Exchange Platform Interface
- Coinmama Exchange Fees
- Accepted Payment Methods
- Coinmama Exchange Pros and Cons
- Coinmama Exchange Review Final Score
Coinmama is one of the rising exchanges in the crypto world where users can seamlessly buy crypto using credit or debit cards. Furthermore, the exchange is also home to major crypto assets such as BTC, ETH, and USDT. Through this, users of Coinmama can easily trade directly from one crypto to another using these cryptos as trading pairs.
Furthermore, Coinmama exchange also integrates its system with the latest payment options. To be specific, users of the platform can buy crypto assets using Google Pay and Apple Pay. However, do not be confused; Coinmama is not available on mobile devices. But, of course, users can still access the exchange using their mobile browsers.
In addition, Coinmama is supported by over 170 countries around the world. For this reason, the exchange will be able to support more citizens worldwide. On the other hand, the exchange is also known for its fast approval in terms of account creation. What’s more, Coinmama never stores client details into its networks, such as bank details and wallet addresses.
These security features made by the exchange ensure the safety of all its users globally. Therefore, traders and investors using the exchange can surely transact in the exchange without worrying about data leaks.
Moreover, the exchange may ask for more identity proof if users want to do high transactions. The exchange has applied this security measure to avoid fraudulent activities. More so, the exchange also has customer support to address all the queries made by the users of Coinmama. Based on Coinmama, they try to resolve the problems of each of their customers within 24-hours.
Last but not least, the exchange also supports various languages to serve their global customers better. With this, customers can freely use their native languages when submitting inquiries in the exchange. Truly, these features that the exchange possesses made the client’s experience in the exchange so much better.
Coinmama Exchange Details
|Available on mobile||No|
|Number of supported coins/tokens||9|
|Number of supported trading pairs||NA|
|Supported fiat currencies||USD and EUR|
|HQ Location||Dublin, Ireland|
In 2013, the Coinmama exchange was launched in Israel by its founder Laurence Newman. The exchange aims to provide a fast way to buy crypto assets around the world. For this reason, the platform provides a friendly way to buy crypto assets using a variety of debit cards worldwide.
Furthermore, the exchange partners with many countries around the world to strengthen its crypto services. For example, Armenia, Australia, Austria, Croatia, Czech Republic, Denmark, Egypt, and El Salvador, to name some.
These places mentioned above are just some of the 188 countries that support the Coinmama exchange. In 2020, seven years after its launch, the exchange landed a partnership with Apple Pay. As a result, investors of Coinmama using Apple devices can seamlessly use Apple Pay in buying crypto assets. Indeed, this is a great feature that benefits the exchange users.
Moreover, the Coinmama exchange is operated by NBV International s.r.o, which is owned by New Bit Ventures Ltd. Since its launch in 2013; the exchange is said to be trusted by more than 2.3 million people worldwide. Through this, we can say that the Coinmama exchange truly has already established itself in the crypto market.
Coinmama Exchange Hacking and Other Incidents
The crypto world is not new to the issues related to cyber threats and fraudulent activities. In fact, in 2020, the total value of crypto lost due to cyber attack incidents amounts to over $500 million. In addition, these left and right incidents of cyber threats keep damaging the name of the crypto world.
This part of the Coinmama exchange review article discusses the threats that Coinmama has faced in the past years.
In 2019, the Coinmama exchange reported that it had suffered a data breach into its network. As a result, the hackers get in touch with the 450,000 data and email passwords stored in the exchange. Truly, this caused panic across all users using the exchange.
Meanwhile, the Coinmama exchange performed an all-out password reset to all its users in the network. In this way, users of the network can create a fresh new password that will secure their Coinmama account.
Today, the Coinmama exchange continues its operation in providing the easiest way to buy crypto assets. So far, after the incident in 2019, no further cyber threats were reported involving the exchange.
Coinmama Exchange Platform Interface
The user interface of the exchange is one of the few things that attract investors to the exchange. There are some exchanges that have a user interface that is difficult to understand. Of course, these exchanges always scare potential crypto investors, mostly beginners in the crypto space.
However, these scenarios are not going to happen to all the users of the Coinmama exchange. In short, the Coinmama exchange offers a clean user interface with friendly website formats. Through this, beginners in the crypto space can easily navigate the platform without the need for further research.
Platform Interface Link: https://www.coinmama.com/bitcoin
Coinmama Key Features and Functions
- Supported by more than 150 countries globally
- Multiple payment options
- Verify accounts in no time
- Seamless transfer of crypto from exchange to wallet
- Provides one of the highest limits in buying crypto assets
- Friendly user interface
Coinmama Exchange Supported Cryptocurrencies
The Coinmama exchange is one of the platforms in the crypto world that offer selected crypto assets. To be specific, Coinmama is an exchange broker that holds crypto assets and sells directly to buyers using their fiat.
Therefore, traders and investors must not expect Coinmama to match two independent buyers and sellers in the platform. Meanwhile, the Binance and Bithumb exchanges are some examples of exchange marketplace where both buyers and sellers match each other.
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Litecoin (LTC)
- Ripple (XRP)
- Tezos (XTZ)
Coinmama Exchange Fees
Trading fees is one of the most talked-about topics when looking for a good crypto exchange. For this reason, the exchange that offers good deals mostly catches the attention of global traders.
The Coinmama exchange offers various perks to all its buyers on the platform. For example, the platform offers loyalty levels; the higher the users’ loyalty level, the better deals they will receive.
Accepted Payment Methods
The exchange payment method is one of the most important factors that crypto investors consider when buying crypto assets. With this, crypto buyers can check if the exchange supports their favorite currency.
Link for Payment Portal: https://www.coinmama.com/bitcoin
In the case of Coinmama, the exchange accepts most of the major currencies around the world. For example, US dollar, Euro, Canadian dollar and Great British pounds to name some. Through this, crypto buyers that are holding these currencies can easily buy crypto assets in the exchange.
Also, take note that not all countries support crypto exchanges, to know the countries that support and restrict Coinmama, click this link.
Coinmama Exchange Pros and Cons
- Clean and user friendly website
- Accepts major credit and debit cards
- Customer support
- Supported by over 150 countries worldwide
- No mobile application
- Limited crypto assets
- No option for calling customer support
Coinmama Exchange Review Final Score
Finally, the final score of the Coinmama exchange. As a result, this final score is based on the analysis and personal view of Coin Quora. Meanwhile, this rating does not serve as financial advice. In other words, traders and investors must do their own research before investing money in crypto exchanges.
- Services offered: 2/5
- Crypto asset support: 2/5
- Fees: 2/5
- Supported fiat: 4/5
Review Score: 2.5/5
The Coinmama exchange process still depends on the documents that the user will submit to the exchange. Therefore, it is up to the exchange how long they will approve the user’s request. In conclusion, the final say is still in the hands of the Coinmama team.
Yes, the Coinmama exchange accepts major credit cards such as Mastercard and Visa. However, there are also some types of debit or credit cards that the exchange doesn’t accept. For example, American Express and PayPal, to name a few are some credit and debit cards that Coinmama rejects.
Just like other crypto exchanges requirements, the Coinmama exchange requires IDs such as a driver’s license or passport. In short, yes, the Coinmama exchange requires IDs.
The Coinmama exchange has been operating for over 5 years. However, we still suggest that you do your own research to find the answer that you’ve been looking for.
The Coinmama exchange is different from the Coinbase exchange. Therefore, it is suggested that you do your own research in choosing the best crypto exchange for you.
Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as helpful material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research before engaging or investing in any crypto assets