CoinMama Review Overall Score
- Fees: 5.5% + 5% for credit card
- Supported countries: 226 countries worldwide
- Payment methods: Credit/debit card, cash
- Live pricing in US dollars and euros
- Buy fractions of a bitcoin
- Easy to review all your order
- Buy direct from the site – no middleman
- Multi-language site.
- Cannot sell bitcoin through Coinmama, only buy
- Does not accept PayPal, American Express or Discover
- Can’t link to your bank account to expedite new purchases
- No smartphone app
How does Coinmama work?
The process of buying Bitcoin on CoinMama is fairly simple. First, you create yourself an account on the CoinMama website.
The required info for your CoinMama account will include your name, email address, and country of residence. You can buy anywhere from .01 bitcoin to multiple bitcoins depending on your verification status.
In order to get verified, you must have your own digital wallet and complete a verification process. Verification requires you to provide Coinmama with proof of identity. You provide proof of identity by uploading a copy of your passport or driver’s license. (Verification requirements may be updated overtime).
The first verification status on CoinMama will allow you to buy up too $10,000 worth of bitcoin.
Which Cryptocurrencies Can I Buy On CoinMama?
You can buy bitcoin and etherium (ETH) on with USD CoinMama. Etherium (ETH) is the the second most popular cryptocurrency after bitcoin. Many advanced investors are highly interested in Etherium.
You cannot sell your bitcoin or cryptocurrency back to Coinmama. Nor can you exchange your currency with other people on CoinMama’s network. The company says a sell-side function is “coming soon.” For anyone who wishes to sell their cryptocurrency, your coins must be transfered to another exchange in order to trade them for any other cryptocurrency or USD.
How To Start Using CoinMama
To get started with Coinmama, register for an account on the platform’s website listed above. It’s then just a matter of choosing which cryptocurrency you’d like to buy, complete payment and confirm your wallet address.
Before buying bitcoin – or any digital currency – you will also need to have a secure digital wallet. Once this is completed, you can store your bitcoins there and use this wallet to purchase goods and services online. It’s also useful to learn more about bitcoin and blockchain.
This review of Coinmama should not be interpreted as a recommendation to invest. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Historic performance is no guarantee of future returns. Before investing you should obtain advice and decide whether the potential return outweighs the risks.
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By reading reviews about CoinMama bitcoin wallet and exhchange, you will be able to make the best choice for your needs! Coinmama is an excellent way to buy cryptocurrency. Different types of cryptocurrency wallet websites offer different types of advantages and exchange systems. See cryptocurrency wallet reviews to help you make the best choice for a wallet!