Coinmama is a cryptocurrency broker that was founded in 2013 and is based in Israel. The broker offers a simple and user-friendly platform that allows users to buy and sell a variety of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. Coinmama is available in over 190 countries, and it has a good reputation for being a reliable and secure platform.

Here are some of the key features and benefits of Coinmama:

1. User-Friendly Platform: Coinmama offers a simple and intuitive platform that is easy to use for both beginners and experienced traders. The platform is available in multiple languages, including English, German, French, Italian, and Spanish.
2. Multiple Payment Options: Coinmama supports a variety of payment options, including credit and debit cards, bank transfers, and Apple Pay. This makes it easy for users to deposit funds and buy cryptocurrencies.
3. High Limits: Coinmama has relatively high limits for buying cryptocurrencies, making it a good choice for users who want to make larger transactions.
4. Fast Verification: Coinmama has a fast verification process, which allows users to start buying cryptocurrencies quickly.
5. Strong Security: Coinmama uses advanced security measures to protect users’ funds and personal information. The platform uses SSL encryption and two-factor authentication to ensure that users’ accounts are secure.
   
   

However, there are also some drawbacks to using Coinmama, including:

1. Limited Cryptocurrency Selection: Coinmama offers a relatively limited selection of cryptocurrencies compared to other platforms.
2. High Fees: Coinmama charges relatively high fees compared to other cryptocurrency brokers.
3. No Wallet Services: Coinmama does not offer wallet services, so users need to have their own cryptocurrency wallets to store their coins.

Who Is Coinmama Recommended For?

Coinmama is recommended for users who want to buy and sell cryptocurrencies using a simple and user-friendly platform. It is also a good option for users who want to buy larger amounts of cryptocurrencies, as it has relatively high transaction limits. Additionally, Coinmama is available in over 190 countries, making it a good option for users who want to buy cryptocurrencies from a wide range of locations. However, users should be aware of the relatively high fees and limited cryptocurrency selection when considering whether Coinmama is the right platform for their needs.

Account Options

• Broker Type: Cryptocurrency Vendor
• Minimum Deposit: N/A
• Cryptocurrencies Available: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, Qtum, Ethereum Classic, Tezos, Algorand, and others
• Fees: Coinmama charges a fee for each transaction, which varies based on the amount and type of cryptocurrency being purchased. The fee is displayed before users confirm their transaction.
• Free Demo Account: No
• Traders From USA: Yes
  
  
  

Top Coinmama Features

• Many Payment Options: Coinmama allows a wide range of payment methods with which clients can conduct transactions, including credit/debit card, Apple Pay, bank transfer, and more.
• Wide Range of Cryptocurrencies: Coinmama offers a variety of cryptocurrencies for users to buy and sell, including Bitcoin, Ethereum, Dogecoin, Uniswap, Aave, Chainlink, Ethereum Classic, Bitcoin Cash, and others.
• Multiple Calculators: Coinmama provides various calculators to help users check cryptocurrency rates and make purchases with ease. The Crypto Calculator lets users check coin rates and make purchases in one easy process, while the Bitcoin and Ethereum calculators provide updated rates on those coins.
• Coinmama Academy: Coinmama Academy provides educational resources for users looking to learn more about the crypto industry, including articles on the fundamentals of crypto and different types of coins.
• Business Program: Coinmama’s White Glove Service helps high-net-worth individuals and businesses build long-term crypto portfolios. Users can sign up for the program on the Coinmama website.
• Loyalty Program: Coinmama offers a loyalty program that provides three levels of discounts for fees, including Crypto Curious, Crypto Enthusiast, and Crypto Believer. This system provides greater benefits to higher spenders, similar to tiered accounts offered by traditional brokers.
  
  

Coinmama Account Types

Coinmama does not offer different account types. All users have access to the same features and services, including buying and selling cryptocurrencies, multiple payment methods, and the Coinmama Academy educational resources. The Loyalty Program is available to all users, but the discounts and benefits vary based on the user’s spending and activity on the platform.

Coinmama offers access to buying and selling cryptocurrencies in USD, EUR, GBP, CAD, and AUD. There is no minimum deposit or available leverage, and commission fees vary based on the loyalty level. The trading instruments include BTC, ETH, DOGE, UNI, AAVE, LINK, ETC, BCH, COMP, EOS, LTC, OMG, WBTC, LRC, and NMR, with the minimum lot size varying based on the coin. There is no demo account, swap/rollover free option, or copy trading support.

Coinmama Pricing

The market rate on Coinmama is XBX + 2.3%. That is the computation used to determine the basic fees. Then there’s a commission fee of up to 3.9% on purchases and up to 0.9% on sales. There is a 5% momentum fee if you use a credit or debit card. However, if you use a SEPA transfer, you will not be charged an extra cost. 

Commissions costs might range from 0.99% to 3.9% in general, depending on your Loyalty Level. Level one is Crypto Curious, and there is no charge reduction. There is also no minimum spending requirement. If you’re a Crypto Enthusiast, you’ve spent $5,000 in ninety days, which qualifies you to speedier customer service and 12.5% fee savings. If you’ve reached the top layer, you’re a Crypto Believer. To be qualified for this level, you must have purchased coins from Coinmama for at least thirty days. You must also have spent $18,000 in 90 days or $50,000 in your lifetime. Being a Believer gives you priority customer service. 

Security and Regulation 

Coinmama is registered with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB). It also complies with the European Union’s General Data Protection Regulation (GDPR) and is registered with the Information Commissioner’s Office in the United Kingdom. Coinmama has implemented a range of security measures to protect its users, including SSL encryption, two-factor authentication, and a system that monitors for suspicious activity. It also stores the majority of its customers’ funds in cold storage, which means that they are not connected to the internet and are therefore less vulnerable to hacks. However, it is important to note that cryptocurrency exchanges, including Coinmama, are not FDIC-insured, which means that there is no protection for users’ funds in the event of a hack or other security breach.

Conclusion on Coinmama

In conclusion, Coinmama is a reliable and trustworthy cryptocurrency vendor for those who want a simple and straightforward way to buy and sell cryptocurrencies. With its wide range of payment options, multiple calculators, and Coinmama Academy, it is a great choice for beginners who want to learn more about the crypto industry. Coinmama’s Loyalty Program also provides discounts on fees for high-spending customers.

However, it should be noted that Coinmama has limited cryptocurrency options compared to some of its competitors, and its fees can be high compared to other vendors. Overall, Coinmama is a solid choice for those who want a user-friendly platform to buy and sell cryptocurrencies, but it may not be the best choice for those who are looking for a more advanced trading experience.