Coinmama Assessment: Analyzing If It Is Safe & Reliable?

Do you know there are more than 190 cryptocurrency exchanges and companies in the crypto area right now? You read that right. More than a hundred ninety!

However, despite that, we endure from poor change volumes, latency, and unreliable companies to quench the thirst of crypto-investors. Moreover, we additionally struggle to buy common cryptos like BTC & ETH, which will not be a fairly experience.

And that my buddies, is the place companies like Coinmama come to the rescue, bringing something new to the table.

Coinmama is a venture of NBV International that’s registered in Slovakia but presently operates from Israel.

It is a centralized service with a large user base of over 1,000,000 satisfied customers. The large consumer base is a result of the number of nations it supports worldwide – over 180!

One of the USPs of Coinmama is the quick, secure, and safe service it gives for purchasing cryptocurrencies like BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA by way of credit cards. They lately added an option to promote Bitcoin for Prospects in the 37 European countries which are part of SEPA (Single Euro Funds Space).

Additionally, unlike different trade/services, Coinmama doesn’t have an inbuilt BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA wallet. This means when you want to purchase BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA from Coinmama, it is best to already have a BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA wallet and this is a good method of encouraging investors to have a secured wallet in the first place earlier than buying the coins.

If you happen to don’t have a safe Bitcoin or Ethereum wallet, pick one from our list of Ethereum wallets and Bitcoin wallets.

Coinmama Registration, Login, and Purchase Limits

Coinmama’s registration process is quite straightforward. To get began, you might want to register utilizing your e mail ID following which you will be asked to submit some paperwork to prove your identity. The more documentation you provide, the more currency you should buy on Coinmama.

After you register, you’ll be able to log in using your e-mail ID and password where you must, and MUST, setup your 2FA and SMS authentication (highly recommended) for further security.

To verify your Coinmama account, head over to your account web page and click on on “Confirm my account” on the left of your screen.

You’ll then be required to upload a legitimate authorities ID for various ranges of access and purchasing limits.

Coinmama verification time

The verification time is 10 minutes for stage 1. However, for degree 2 and stage three it may take up to 6 hours for the verification. After stage 1 verification, coinnama you can begin utilizing Coinmama.

Coinmama Purchase limit:

Level 1 (limit up to USD 15,000): Requires a valid government issued ID, a selfie of your self holding that ID, a note with “Coinmama” and the date written on it. Settle forable documents are:

An international non-US passport (double page)

National ID card (each sides)

Driver’s license (both sides)

Stage 2 (restrict as much as USD 50,000): Other than Level 1, it requires you to upload a utility bill. Accepted utility payments include electrical, cable, gas, water payments, property tax, bank statements or credit card statements (paper bill or internet bills are not accepted).

Degree 3 (limit as much as USD a hundred,000): Requires filling a brief form and contacting personally.

Coinmama Person Interface

Coinmama interface is pretty smooth and minimalistic. As you log in, you will be greeted with a dashboard like this

Coinmama Charges Structure

Coinmama Fee: Coinmama’s credit/debit card processor, fees a 5% additional payment (with a minimal cap of USD 10) on every transaction. Only Visa/MasterCard are presently supported. You may as well pay via SEPA which doesn’t encurr such fees.

Bank transfer fees: Coinmama helps SEPA bank transfers and expenses 0.00% fees.

Coinmama Supported Countries

The one thing highlighted within the introduction also that Coinmama helps a number of countries – 188 to be exact – essentially the most by another crypto service/exchange. To check if they supply service in your country, visit here.

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