Coinmama

Want to invest in cryptocurrency, then Coinmama is a great place to start. Coinmama offers excellent support, an easy-to-use interface, and lower charges which makes Coinmama an ideal place to start with. Learn more about Coinmama here!

With an easy-to-use trading interface, Coinmama supports around nine different cryptocurrencies, including popular crypto coins like BTC, BCH, ETH, LTC, etc. Coinmama is not a wallet provider. Hence it would be best if you integrated a third-party wallet to store and manage your crypto assets. Coinmama also offers a loyalty program for reduced fees. This article will explore more about Coinmama features, signup and verification, fees, supported coins, trading experience, and more.

Coinmama Overview

With an easy-to-use trading interface, Coinmama supports around nine different cryptocurrencies, including popular crypto coins like BTC, BCH, ETH, LTC, etc. Coinmama is not a wallet provider. Hence it would be best if you integrated a third-party wallet to store and manage your crypto assets. Coinmama also offers a loyalty program for reduced fees. This article will explore more about Coinmama features, signup and verification, fees, supported coins, trading experience, and more.

Coinmama – Signup & Verification

To get started with Coinmama, you need to signup with them. To register,

To get started with Coinmama, you need to sign up first. To register,

  1. Click the “Sign Up” link on the top right corner of the home page.
  2. You’ll be asked to enter your email address and also create a password.
  3. You can also look to receive promotional emails from Coinmama if you want
  4. Choose your country of Residence and click “Create Account.” You’ll be asked to provide your personal details in the next screen, including your first name, last name, date of birth, and gender. Click “Next” to move to the next screen. 
  5. Next comes the contact details on the next screen. Click “Next” once you fill in the required data.
  6. Next, the verification process starts where you will be asked to confirm the verification email sent to your email address.
  7. You also need to upload a government-issued ID and take a selfie of yourself holding the ID for additional security.
  8. Signup and verification take a little while compared to other sites
  9. Once verification is done, you can start buying coins up to $15,000 

Coinmama – Supported Coins  

Coinmama supports around 9 different cryptocurrencies including:

Coinmama – User Experience

Coinmama offers a very simple, easy-to-use, and user-friendly interface perfectly suited for beginner-level crypto traders. Unlike other crypto exchanges, crypto-crypto transactions are not allowed, but users can instantly use their debit/credit cards to buy cryptocurrencies. To buy cryptocurrencies, users need to specify the amount, choose the currency, and the number of bitcoins they will receive is displayed automatically. Users can either choose the amount or the number of bitcoins. Clicking “Buy” will take you through the payments page, where users can choose between various payment options between Visa, Mastercard, Apple Pay, Google Pay, Skrill, and SEPA, etc. 

Coinmama – Loyalty Program

Coinmama offers a loyalty program at a reduced fee compared to other crypto exchanges. Based on your purchase, three levels of the loyalty program is offered:

  • Crypto Curious: This level is for people who just want to test the waters in crypto trading, and this is the initial level of the loyalty program. Remember that Coinmama Happiness Heroes are always on standby to help you get started with your crypto trading in Coinmama. At this level, the fee for selling crypto is 3.90%, and buying is 3.81%.
  • Crypto Enthusiast: People who want to go to the next level by building their crypto portfolio will fall under this level. Moreover, crypto enthusiasts will also save 12.5% of the final price. To maintain your crypto enthusiast loyalty level, users need to purchase crypto worth USD 5000 over a 90-day rolling period. The fee is reduced compared to the curious level as users pay only 3.34% as buying fees and 3.41% selling fees.
  • Crypto Believer: A lifetime purchase above USD 50,000 or a cumulative purchase of above USD 18,000 over a 90-day rolling period will lead you into the Crypto Believer loyalty level. The Crypto believers enjoy 25% of their final price along with queue-less customer support. 

Coinmama – Fees

With Coinmama, no deposits are required as the payment is made directly at the time of purchase. Coinmama charges a commission on top of the rate based on your loyalty level. Along with this, users will be charged a 0-5% express fee during checkout.

The commission charged for various loyalty levels is as follows:

Loyalty LevelBuySell
Curious3.81%3.90%
Enthusiast3.34%3.41%
Believer2.86%2.93%

Coinmama – Security

Coinmama is regulated by FinCEN and FINTRAC. As part of their security responsibilities, Coinmama carries out frequent Anti-Money Laundering procedures and Know Your Customer (KYC) policies to keep the site safe and secure. During the account signup and verification process, many details are gathered from the customer for added security. 

Coinmama – Pros

  • Supports around 9 different cryptocurrencies
  • Easy-to-use, simple and user-friendly interface
  • Accepts debit cards and credit cards
  • Offers a loyalty program at reduced fees
  • Excellent customer support
  • Buy and sell cryptocurrencies instantly
  • Resourceful help center with useful FAQ’s and help topics
  • Limited number of cryptocurrencies  

Coinmama – Cons

  • Extended signup and verification process
  • No support for crypto-crypto transactions
  • No crypto wallet offered
  • No mobile app for trading 

Final Words

Hope the above review has covered all the important aspects, including the signup and verification process, fees, user experience, loyalty program security, etc. Overall, Coinmama is an ideal platform for beginners to test waters in investing with cryptocurrencies. Buying and selling process is extremely simple as you can use your debit/credit cards to buy cryptocurrencies. The user experience is very user-friendly, and the loyalty program helps a lot as users pay loyalty users to pay a lesser fee while buying and selling cryptocurrencies. 

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