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Crypto Exchange Review

Coinmama Review

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Coinmama Review

Coinmama

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Details

Broker Coinmama
Website URL https://www.coinmama.com/
Founded 2013
Headquarters Bratislava, Slovakia
Support Number not provided
Support Types email , help center
Languages English
Minimum 1st Deposit $60
Bonus No Bonus
Free Demo Account No
Fees Yes
Fee Info 5% credit card deposit fee, 5.9% brokerage service fee
Deposit Methods credit/debit card , SEPA transfer , crypto
Withdrawal Methods credit/debit card , SEPA transfer , crypto
Number of Assets 8 fiat cryptocurrency pairs
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score
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General Information

Originating from Israel and established back in 2013, Coinmama is one of the biggest cryptocurrency exchange platforms in the world, having served more than 1.8 million customers from over 190 countries. Currently registered in Slovakia, it’s still owned and headquartered by New Bit Ventures in Israel.

Since the company has such a long track record in the industry, our current review aims to highlight some of its most important features, as well as some of the negative points. It should help people asses whether this the right exchange to work with, or not.

Services and Cryptocurrencies Supported

Coinmama offers brokerage services for Bitcoin and several other important cryptocurrencies, selling the coins directly to customers, as opposed to some other exchanges where clients buy cryptocurrencies from other people. The advantage, in this case, is that the process is simple and fast, customers not having to look for a buyer on their own. On the other hand, this kind of service is usually more expensive, as well as see in the next section.

At the time of writing, people who want to cryptocurrencies with Coinmama are able to choose from the following tokens:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Qtum (QTUM)
  • Ethereum Classic (ETC).

Payment Methods and Fees

In terms of payment methods, Coinmama accepts credit or debit cards issued by Visa or Mastercard. More recently, the company had also started to accept SEPA payments as well, and the most important thing about them is that the processing fee is 0%.

Not the same can be said about the credit/debit card fee, which is currently at 5%. On top of that, the prices clients see on Coinmama’s website already include the company’s brokerage service fee, standing at 5.9%. The company calculated the base price from TradeBlock’s XBX index, but the bottom line is that Coinmama’s prices are 10.9% above the market rate.

Customer Support

When it comes to customer support, Coinmama clients can reach a representative only via email. On top of that, there’s also a help center and a comprehensive guide, where people interested to find information on various topics can see what is a cryptocurrency, blockchain, mining, Bitcoin, Ether, and others. Coinmama is also active on social media, with Facebook, Twitter and LinkedIn account currently active. It would have been a plus if there would have been a phone number available, but given the company operates at a global scale, such a task is hard to handle.

Geographical restrictions

Coinmama is one of the cryptocurrency exchange platforms that offer services to the worldwide audience, with the exception of sanctioned countries. At the present time, Coinmama claims it had server clients from over 190 different countries.

Summary

Coinmama is one of the oldest cryptocurrency exchange platforms with a strong reputation in the industry. However, it only offers services for 8 different cryptocurrencies and their fees are relatively high as compared to the industry average.

 

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