CEX.io is another experienced player in the cryptocurrency exchange market, boasting robust security measures that have kept it hack-free since its inception. The platform supports a wide variety of cryptocurrencies and fiat currencies for trading, deposits, and withdrawals. In summary, Coinmama offers a straightforward platform to buy and sell 10 different cryptocurrencies. However, the exchange does not offer many advanced features, tailoring its service to beginner traders.

Before you buy any cryptocurrency, you must ensure that your wallet can support it. The Ledger Nano S, Trezor, and Coinbase Wallet can accept all digital tokens currently offered by the exchange. Once you successfully place an order you should receive your coins in your wallet within minutes.

After verifying your Coinmama account, decide which cryptocurrency you want to buy and connect your wallet. Choose a payment option from the multiple choices available, such as Google Pay, Apple Pay, bank transfer, credit card etc. You’ve managed to send your crypto from your external wallet to Kraken.

Is Coinmama safe to buy Bitcoin?

The Coinmama website would benefit from adding more details, such as transaction fees. However, it is easy for new users to open an account and start buying cryptocurrencies without the hassle of tackling reams of information. Coinmama is an established cryptocurrency exchange where users can buy and sell popular cryptos. Unlike many leading crypto platforms, with hundreds of cryptocurrencies listed, Coinmama has a small range of the top coins.

The exchange holds no assets on the platform, making it unappealing to hackers.Traders can buy 16 cryptocurrencies but can only sell Bitcoin through Coinmama. However, it is a secure platform that has successfully helped over 3 million users purchase digital assets in 188 countries.Coinmama is more of a brokerage than a crypto exchange. The platform to doesn’t custody assets for you, which means that any purchase you make is sent directly your wallet address of choice.

When it comes to taking money out of your Coinmama account, there is no set time limit. Coinmama customers who have been validated their Coinmama accounts can withdraw their positive Coinmama balances at any time of the day from their Coinmama account. Now sign into your wallet where your crypto is held, and click “Send” or “Transfer”. Paste the wallet address that you just copied from Kraken to your external wallet. Double check that it is the correct address that you have copied over, and then finalise the transaction.

Which payment methods are accepted?

Between 74-89% of retail investor accounts lose money when trading CFDs. Contrary to brokers focused on trading, Coinmama enables traders to take custody of their cryptocurrency assets for themselves. Coinmama provides its cryptocurrency wallet, but traders can bring their wallets. This way, traders can pick the solution that suits them the most. You can use exchanges to trade one cryptocurrency for another like Bitcoin to Dogecoin.

Security and Transparency

Coinmama are available around the clock, Monday through Friday. After completing verification of your Kraken account, you are ready to send crypto to Kraken from your external wallet. In Kraken, click on “Funding” at the top of the screen (circled in green below), and then click “Deposit” (circled in red in the screenshot below). You will see a pop-up where you can type which coin you wish to deposit in the search field. In our example, we will send Ethereum to Kraken, so I typed in Ethereum, then selected ETH from the list of Crypto Assets. To research other options before choosing a crypto exchange, see this list of the top crypto platforms.

• Coinmama is a very well-known broker that facilitates the day-to-day financial transactions of over 10,000 of clients worldwide.
• Once you buy coins from Coinmama, those coins are in your personal wallet.
• You can check the status of your Coinmama withdrawal at any time by accessing the withdrawal history section of your Coinmama account through the 2 factor login.
• During testing, I found the process efficient and the interface clear.
• Within seconds, you’ll receive a confirmation email in your inbox.

Coinmama, with its range of payment options and no-fee withdrawals, may appeal to those who prioritize flexible payment methods and frequent transactions. We’ll examine their history, trading fees, withdrawal methods, supported cryptocurrencies, user ratings, and more. After selecting the amount, confirm your payment method and enter your wallet address. Once your payment is processed, the cryptocurrency will be sent to your coinmama exchange review wallet. If the order fails, Coinmama will refund your money within 48 hours. Coinmama is a non-custodial exchange, so your crypto is always secure in your wallet.

Coinmama is a Slovakia-based exchange platform known as one of the fastest and easiest ways to buy Bitcoin or Ethereum with a credit or debit card. The platform is available in over 210 countries (including some of the US states) and sells BTC or ETH to its users, accepting Visa, MasterCard, and Western Union payments. Fees here start at 2.90% but vary substantially based on your payment method and certain other circumstances. For instance, buying crypto via SEPA-transfer is cheaper than buying crypto via credit card. If you buy crypto via SEPA-transfer at Coinmama, your total fee is normally 5.5%.

Coinmama Trading Platform

You will need to get a separate wallet, such as Trezor or Ledger, before purchasing cryptocurrency from Coinmama. Before you can even get started trading on Coinmama, you have to go through the rigorous verification process (which usually involves providing proof of identification). The reason for this is Coinmama’s commitment to certifications and compliance with regulations and insurers. If you are looking to trade popular currencies like Bitcoin and Ethereum, Coinmama will work for you. However, if you want to buy and sell altcoins, you may prefer another exchange.

• There is a maximum transaction size of US$10,000 for bank transfers, US$20,000 for card transactions and $US200,000 for Skrill or Neteller.
• Finalize your order — you can spend up to $15,000 on a single cryptocurrency transaction.
• This makes it secure as there is nothing to hack other than user data.
• Finder compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services.
• Once your account is verified, click the “Buy” tab to purchase cryptocurrencies.

Coinmama also enables traders holding digital currencies with them to take part in staking rewards. Staking generates revenue from traders’ holdings as they are utilized for validating transactions in a digital currency. Coinmama takes care of the technical side, and the extra coins are sent to the trader’s account on an established schedule. The company has been selling digital currency since 2013 and employs a couple of key security measures to help ensure the safety of customer funds. These include encrypting personal details and documents and never storing customer credit card details on its website or servers.

You will see a screen asking you to confirm which exchange you got the coins from (select Coinmama), and then tick a box to confirm you are the legal owner of these coins. You will see a screen like the one below, and you can see the amount of Bitcoin you want to sell, and a wallet address. This is a string of letters and characters (covered by the red rectangle below), also displayed as a QR code (covered by the yellow box). Check with a local accountant to check if any tax is due on your cryptocurrency trading. Outgoing Coinmama transactions to outside crypto addresses normally require a network fee, also known as a mining fee. This ensures the processing of transactions on crypto networks.

For example, NerdWallet gives it a rating of 1.5, basing the score on factors such as account fees, investment choices, customer support, and mobile app capabilities. This score indicates there are some areas where Coinmama could improve, especially considering its higher fees compared to other providers. Interestingly, Coinmama does not charge fees for crypto deposits or withdrawals, which can be a major advantage for users who plan to move their crypto assets frequently. This platform offers a way to purchase some of the most popular cryptocurrencies, and also allows users to sell Bitcoin for cash.

Coinmama does not store your cryptocurrencies on its system, so there are no withdrawal options. When you pay for crypto purchases, they immediately transfer to your wallet. Users can withdraw their digital currency from Coinmama to fiat at any time through an ACH transfer. Coinmama also allows instant cash-outs that run twenty-four-seven, to cards or bank accounts in exchange for extra fees (1 percent). Of course, you don’t have to pay the high credit card and debit card transaction fees.

Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. Coinmama is a financial service business that makes buying digital currency “fun, fast and safe, from anywhere in the world”. Coinmama has had no known security issues, user data breaches, or major downtime incidents. Part of the reason is that Coinmama doesn’t store users’ cryptocurrencies in its own wallets; instead, all cryptocurrencies are sent directly to users’ wallets.