Coinmama Overview: Analyzing If It Is Safe & Reliable?

Did you know there are more than a hundred ninety cryptocurrency exchanges and services within the crypto space right now? You read that right. More than a hundred ninety!

Nevertheless, regardless of that, we endure from poor change volumes, latency, and unreliable companies to quench the thirst of crypto-investors. Moreover, we also battle to purchase popular cryptos like BTC & ETH, which just isn’t a fairly experience.

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

Coinmama is a venture of NBV Worldwide that’s registered in Slovakia but at the moment operates from Israel.

It is a centralized service with a large person base of over 1,000,000 glad customers. The massive user base is a result of the number of countries it supports worldwide – over one hundred eighty!

One of the USPs of Coinmama is the fast, safe, and safe service it provides for getting cryptocurrencies like BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA through credit cards. They not too long ago added an option to sell Bitcoin for Prospects in the 37 European nations which can be part of SEPA (Single Euro Payments Area).

Additionally, in contrast to other exchange/providers, Coinmama doesn’t have an inbuilt BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA wallet. This means in the event you wish to purchase BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA from Coinmama, you should already have a BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA wallet and this is an effective approach of encouraging investors to have a secured wallet in the first place before buying the coins.

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

Coinmama Registration, Login, and coinnama Buy Limits

Coinmama’s registration process is quite straightforward. To get started, it’s worthwhile to register utilizing your e-mail ID following which you’ll be requested to submit some paperwork to prove your identity. The more documentation you present, the more currency you should purchase on Coinmama.

After you register, you can log in using your electronic mail ID and password where it’s best to, and MUST, setup your 2FA and SMS authentication (highly really useful) for extra security.

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

You will then be required to upload a sound government ID for various ranges of access and purchasing limits.

Coinmama verification time

The verification time is 10 minutes for degree 1. Nevertheless, for level 2 and stage three it could take as much as 6 hours for the verification. After level 1 verification, you can start utilizing Coinmama.

Coinmama Buy restrict:

Level 1 (limit up to USD 15,000): Requires a sound authorities issued ID, a selfie of yourself holding that ID, a note with “Coinmama” and the date written on it. Acceptable documents are:

A global non-US passport (double web page)

National ID card (each sides)

Driver’s license (each sides)

Level 2 (restrict up to USD 50,000): Apart from Stage 1, it requires you to upload a utility bill. Accepted utility bills embody electrical, cable, gas, water bills, property tax, bank statements or credit card statements (paper bill or internet payments should not accepted).

Stage 3 (limit up to USD 100,000): Requires filling a short type and contacting assist@coinmama.com personally.

Coinmama User Interface

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

Coinmama Fees Construction

Coinmama Price: Coinmama’s credit/debit card processor, expenses a 5% additional payment (with a minimum cap of USD 10) on each transaction. Only Visa/MasterCard are at present supported. You can even pay via SEPA which doesn’t encurr such fees.

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

Coinmama Supported Nations

The one thing highlighted in the introduction also that Coinmama helps lots of countries – 188 to be exact – probably the most by every other crypto service/exchange. To check if they provide service in your country, go to here.

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