March 17, 2020 -

What is Coinmama?


Cryptocurrencies continue to gain popularity, and more and more people want to invest in this industry. Usually, beginners tend to buy the most famous coins, such as Bitcoin or Ethereum.

Due to the growing demand for cryptocurrencies, new services that offer the possibility of purchasing them for fiat currencies or exchange are constantly appearing. One of these websites, Coinmama, offers such services. Today, we will look at working with this service and talk about how to use it.

The project belongs to a subsidiary of New Bit Ventures LTD, which is registered as a service for working with money and has a certificate. The service began its work in 2013 and since then offers services for the purchase of two of the most popular currencies for fiat money using a bank card. The creators of Coinmama were one of the first to offer this method of buying cryptocurrency, which allowed them to quickly take a high position in the ranking of market leaders.

The interface of the website is available only in English. The website itself is very high quality and has a beautiful animated design. The platform is available in 226 countries and most of the United States. This makes it one of the simplest and most common options among similar services. The slogan on the official website says that this is the easiest, fastest and safest way to buy Bitcoin and Ethereum. Now, you can tell, “What is Coinmama?”. 

Coinmama is not an exchange in the usual sense of the word. Unlike, for example, Binance or Poloniex, you can only buy currency here, so it is rather an exchange. The platform does not even have a built-in wallet, and the purchased assets are transferred to the address specified by the user. This makes the project more secure because, in the case of hacking, users’ funds will not be affected.

The users often ask, “How long does Coinmama take to verify?”. In reality, verification is quick and simple. So, the answer to the question “How long does Coinmama verification take?” will satisfy even the most demanding user of trading exchanges. 

The purchase price depends on the current market situation. The system adjusts itself to the exchange rate and offers the purchase of packages for a fixed price. You can buy another crypto quantity or enter a fiat amount that is not less than the cheapest and not bigger than the most expensive packages.

Recently, it was reported that the developers are planning to update the functionality of the exchange. Users will be given an opportunity to sell cryptocurrency. The website has a section with a blog where you can find all the news about the work of the exchanger. That’s where the information should appear on the additional functions of the exchange.

According to Coinmama reviews, the project also offers its users a referral program. Thanks to it, you can get 15% of Coinmama’s commissions on purchases of users attracted by you. Referral links are used for this purpose. Payments can be made after the exchange receives at least three orders from at least three referrals.

Coinmama fees

You should also consider the Coinmama fees that the service holds. Note that there will be no additional fees to the service, and interest is already included in the price that is displayed on the website. The commission is 5.5%. The use of credit or debit cards also implies a service fee, which is 5%.

Working with payments on the internet inevitably requires the use of a secure service. The reviewed project has managed to earn the trust of users and can boast of the security of its website. The latter, by the way, works on Comodo and Trust Guard technologies. Both of these sources confirm that 256-bit SSL encryption is used on all pages where personal information is handled.