Coinmama Review Is It Safe & Legit In 2023?

Instead, all user coins are immediately sent to their own addresses (digital wallets). Many users are using it because of its fast-track verification process, many payment methods, and availability in so many countries. Another critical, shocking revelation is that United States residents can also use it. Yes, Coinmama is a reliable company that comes with robust security and an easy-to-use platform that’s suitable even for beginners.

Coinmama offers plenty of benefits whether you’re a new crypto trader or someone who’s been in the business for some time. With several payment options, super fast coin delivery, and high purchase limits, Coinmama seems to suit almost everyone. Coin transfer to and from Coinmama is dependent on the payment method.

Selling on Coinmama

After you connect your crypto wallet using your wallet address, you can buy and sell cryptocurrency 24/7 with transactions that are complete in just minutes. Anyone who pays with a debit or credit card will also see a 5% processing fee not included in the above numbers. The best way to avoid this fee is by using a bank transfer, which has no added fees. Coinmama accepts any Visa or Mastercard credit card as a payment method for cryptocurrency purchases. Thankfully, these thieves made off with only email addresses and hashed passwords of older user accounts.

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How does Coinmama compare?

Users are able to purchase Coinmama supported cryptos by credit or debit card or by bank transfer. One of the other advantages of Coinmama is that it effectively forces users to set up a secure digital wallet. This website is a strong advocate of promoting that individuals do not leave Coinmama Review their cryptocurrency on an exchange, due to the fact that such exchanges are prominent targets of hackers. By not holding any cryptocurrency on user’s behalf, Coinmama is effectively given users an extra nudge to set up their digital wallet (or even better, purchase a hardware wallet).

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Coinmama vs. Bitstamp

Coinmama immediately notified its users about the incident and had them all change their passwords. It makes sense that no cryptocurrency was stolen from Coinmama. It doesn’t have any user coins stolen available to steal as it doesn’t offer custody (storage) service.

To get started, you need to register using your email ID following which you will be asked to submit some documents to prove your identity. The more documentation you provide, the more currency you can buy on Coinmama. They recently added an option to sell Bitcoin for Customers in the 37 European countries that are part of SEPA (Single Euro Payments Area). And that my friends, is where services like Coinmama come to the rescue, bringing something new to the table.

Free Bitcoin Crash Course

Today the service has over 2.5 million users in some 188 countries around the world. It runs under the watchful eye https://www.tokenexus.com/ of parent company New Bit Ventures. But we do have to make money to pay our team and keep this website running!

• Should you choose to sell Bitcoin, the crypto can only be sold for regular currency (USD, EUR, GBP, AUD, CAD, and JPY) on the cryptocurrency exchange.
• After verifying your Coinmama account, decide which cryptocurrency you want to buy and connect your wallet.
• It’s essential to choose a secure crypto wallet and research which one is best for the coins you wish to buy.
• The most famous crypto derivatives exchanges is Bitmex which offers up to 100x leverage.
• By referring a new user to Coinmama you can receive a commission on all of their purchases.
• It is not possible to trade crypto for crypto on Coinmama, so users will need to sell Bitcoin for paper money (deposited into a bank account) before buying other types of coins.

The site is secure, and users who want to remove some of the limits on trading are able to do so simply by purchasing more cryptocurrency. Coinmama offers a very intuitive user interface that makes it easy to get started on the exchange. Beginners in the crypto space will be able to step right in and start purchasing after a short verification process. A bank transfer will take, on average, somewhere between 1 and 3 business days to process. Once Coinmama receives your order, coins will show up in your account in around 20 minutes.