Available Countries
  • Worldwide, United Kingdom, USA, Australia, Europe, Netherlands, Finland, Sweden, Denmark, Norway, Iceland, Germany, Austria, Switzerland, Spain, Portugal, Italy, Canada, New Zealand, United Arab Emirates, Qatar, Singapore, Hong Kong, France, South Africa, Japan, Scandinavia, Malaysia, Bahrain, Ireland, Luxemburg, Russia, Slovakia, Malta, GCC (Show More)
  • Deposit Methods
  • Credit Card, Debit Card, Bank Transfer (Show More)
  • Supported Currencies
    Platform Type
  • Centralized Exchange (CEX)
  • Supports
  • FIAT to Crypto, Crypto to FIAT
Margin Trading
  • No
  • Built In Wallet
  • No
  • Compensation Scheme
  • No
  • Regulated
  • No
  • Minimum Deposit
  • $60 or €53
  • Deposit Fees
  • Not Applicable (Show More)
  • Withdrawal Fees
  • Not Applicable (Show More)
  • Trading Fees
  • 5.9% per trade and another 5% for credit/debit card purchases (Show More)
  • Limits
  • €/$5,000 daily limit & €/$25,000 monthly limit (Show More)
  • Verification
  • KYC Verification (Show More)
  • Jump to page contents

    Coinmama Exchange Review

    Coinmama, one of the world’s oldest Bitcoin Broker, has its headquarters located in Slovakia. It is owned by NBV International (the daughter company of New Bit Ventures Ltd). Even though Coinmama exchange is not officially registered with any legislative board, New Bit Ventures has been registered as an MSB (Money Service Business) with FinCEN. It accepts members from almost all countries in the world. The trading interface of Coinmama is extremely simple to use, making it ideal for novice traders and those looking to buy Bitcoin and other cryptocurrencies quickly.

    The following Coinmama review will analyse the most important aspects and provide you with a well rounded, detailed overview of the exchange and its services. Although Cryptimi does its best to provide you with accurate and up-to-date information, we strongly recommend that you visit Coinmama for any updates.

    Is Coinmama Exchange Safe?

    Yes. Since there is no wallet available on the Coinmama exchange to store your coins, it is up to you to protect them by sending them to a valid wallet address. In order to prevent scams, Coinmama requests its customers to confirm their wallet address before sending the coins. The exchange doesn’t store any kind of users’ sensitive or personal information of on its servers.

    Coinmama - Sending Crypto
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Since Coinmama allows the users to purchase coins only after verifying their documents, it is almost impossible to create fake accounts, and this makes the exchange even more secure.

    Coinmama Exchange

    Coinmama exchange is a brokerage service which allows users to buy Bitcoins and other altcoins instantly using a credit/debit card. The price listed on the exchange is based on the XBX Index. An XBX index is a real-time representation of Bitcoin’s equivalent in USD, which is calculated by an algorithm based on observable trading activity on leading Bitcoin exchanges. The good thing about Coinmama is that it locks the price at the time of purchase. Hence, there will not be any fluctuations after placing the order and users will receive the exact amount of coins when the order was placed.

    How does Coinmama compare to other exchanges?

    • Coinmama
    • eToro
    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • $60 or €53
    • Fees
    • 5.9% per trade and another 5% for credit/debit card purchases
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer
    Coinmama Review
    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 5/5
    • Best For
    • Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • Varies $50
    • Fees
    • Varies, 0.75% Spread for BTC & 1.9% Spread for ETH
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Cryptocurrency, Paypal

    Your capital is at risk

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, ETFs
    • Min Deposit
    • €215
    • Fees
    • Spreads starting at 0.03
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    81% of retail CFD accounts lose money

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • Varies €100/$100/£100 for credit cards & €/$/£500 for wire transfers
    • Fees
    • Varies, A spread fee of 0.6% applies on BTCEUR market
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares
    • Min Deposit
    • Varies 29 EUR/GBP/USD (once), 100 EUR/GBP/USD (for subsequent deposits)
    • Fees
    • Free, Varies, Floating spread, Swap fee, Conversion fee
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • None
    • Fees
    • Starting from Maker @ 0.16% & Taker @ 0.25%
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Cryptocurrency
    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • €100 for credit card deposits.
    • Fees
    • Varies, A spread fee from 0.56% up to 3.28% applies
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Paypal

    80.5% of retail CFD accounts lose money

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares
    • Min Deposit
    • Varies between $250 to $300 depending on account type
    • Fees
    • Main fees are spreads, as low as 0.03 pips
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer

    Your capital is at risk

    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Newcomers, Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, ETFs
    • Min Deposit
    • 250 EUR/USD/GBP
    • Fees
    • Varies, No overnight or maintenance fees
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Paypal

    Your capital is at risk

    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4.5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • None
    • Fees
    • Maker @ 0.1% & Taker @ 0.1%
    • Deposit Methods
    • Credit Card, Debit Card, Cryptocurrency
    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 3.5/5
    • Best For
    • Advanced Beginners, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • 0.0001 BTC 1 USDT
    • Fees
    • Varies, Maker Fee - 0.025%, Taker Fee - 0.075%
    • Deposit Methods
    • Cryptocurrency
    • Type
    • Centralized Exchange (CEX)
    • Rating
    • 4/5
    • Best For
    • Advanced Beginners, Experts, Short Term Trading, Day Trading
    • Instruments
    • Cryptocurrencies
    • Min Deposit
    • Varies
    • Fees
    • Varies, Varies coin to coin, for BTC Maker @ -0.025% & Taker @ 0.075%
    • Deposit Methods
    • Cryptocurrency
    • Type
    • CFD Trading Platform (CFD)
    • Rating
    • 4.5/5
    • Best For
    • Advanced Beginners, Experts, Long Term Investors, Short Term Trading
    • Instruments
    • Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
    • Min Deposit
    • Varies €10 / $10 / £10
    • Fees
    • Varies
    • Deposit Methods
    • Credit Card, Debit Card, Bank Transfer, Paypal

    Your capital is at risk

    Coinmama Wallet

    This feature is not available yet on Coinmama. You will need to get a separate wallet, such as Trezor or Ledger, before purchasing cryptocurrency from Coinmama.

    Here are some other wallets that we recommend:

    The Ledger Nano X is the latest hardware crypto wallet offered by Ledger and it is designed to be the Bluetooth enabled Ledger Nano S on the go.
    Launched in 2015, KeepKey Wallet is one of the oldest and most secure hardware wallets. Today it is run by the ShapeShift Exchange and ranks as the third-best wallet brand in the world.
    If you are looking for one of the most secure hardware wallets, capable of storing a wide variety of cryptocurrencies and offering increased functionality, Trezor is definitely your go-to wallet.

    Coinmama Account

    Before you can start buying Bitcoin with Coinmama you need to create and verify an account. In order to buy cryptocurrencies, users must submit the following documents. It is possible to make a purchase only after the documents are verified by the Coinmama team, which normally takes a few hours. The Coinmama account can have the following levels:

    • Level 1: A Government issued ID + A Selfie holding the ID
    • Level 2: Secondary ID
    • Level 3: Submit a form

    Based on the level, Coinmama sets different purchase limits for Bitcoins or altcoins. Level 3 members don’t have any purchase limit restrictions whereas the Level 1 and 2 members can find out their limits from their account page. Note that members on all levels have the same daily and monthly spending limit.

    How to Sign up on Coinmama

    Coinmama - Sign Up
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To create an account on Coinmama, do the following:

    1. Visit the site and click on the ‘Sign Up’ button located on the top right of the page.
    2. Fill all the required fields on the form provided.
    3. Click on the ‘Create account’ button to submit your information.

    Within a few minutes, you should receive a confirmation email. Click the confirmation link on that email to activate your account.

    How to Log in on Coinmama

    Coinmama Login Process
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To log in to your Coinmama account, follow these steps:

    1. Navigate here and click on the ‘Log in’ button located on the top right of the home page.
    2. If you are logging into your account for the first time, you will need to verify your account by uploading personal identification details. You should also upload supporting documents as per your desired account level in order to verify your identity.

    Verification Requirements

    Coinmama Verification
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To get Level 1 status, users must upload two documents, namely a valid ID issued by a national government and an image of yourself holding the ID and with a paper note. The note should contain the written word “Coinmama” with the specific date that the photo was taken on. To reach Level 2, you should submit a secondary ID, such as a utility bill or bank/credit card statement. Reaching Level 3 involves contacting Coinmama’s support team and following their instructions.

    While uploading the documents, you must ensure that the submitted images are of excellent quality so that the information on the documents is clearly visible.

    How to Buy Digital Currency on Coinmama

    Using Coinmama exchange, you can buy any of the top cryptocurrencies, including BTC, ETH, ETC, LTC, BCH, and XRP. Digital tokens can be bought instantly using a credit/debit card or SEPA bank transfer. The exchange supports several fiat currencies, including EUR and USD.

    For non-supported currencies, you will have to bear the exchange rate fees imposed by your banks. Coinmama doesn’t charge any fee for SEPA transfers, however, it does for card payments.

    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 10-15 minutes.

    It is important to note that the price will be locked only when the exchange receives your money and not at the time of placing the order.

    How to Buy Bitcoin (BTC or XBT) on Coinmama

    Coinmama Review - Buy Bitcoin
    Screenshots are shown for illustration purposes only. Actual product may vary.
    1. Log into your Coinmama account.
    2. Move the mouse over the ‘Buy’ link on the top of the page and click ‘Bitcoin’ from the drop-down box.
    3. Select one of the supported fiat currencies.
    4. Choose either one of the packages (100,250,1000,3000 USD/EUR) or manually enter the amount of digital currency you would like to buy and click the ‘Buy’ button. The minimum you can deposit is $60 or approximately €53.
    5. Enter the receiving wallet address to which the coins will be sent. Make sure you enter the correct wallet address and double-check it.
    6. Choose your desired payment method, namely card or bank transfer (in this example, we have chosen the card option).
    7. Fill in all the fields on the payment form and click the ‘Pay Now’ button.
    8. Enter the 3D Secure Code or other authentication code (if applicable) sent by your bank to complete the payment.

    How to Buy Ethereum (ETH) on Coinmama

    Coinmama Review - Purchase Ethereum
    Screenshots are shown for illustration purposes only. Actual product may vary.
    1. Log into your Coinmama account.
    2. Move the mouse over the ‘Buy’ link on the top of the page and click ‘Ethereum’ from the drop-down box.
    3. Select the fiat currency (USD/EUR).
    4. Follow Steps 4 till 8 in the How to Buy Bitcoin portion of this guide.

    How to Buy Ethereum Classic (ETC) on Coinmama

    1. Log into your Coinmama account.
    2. From the top of the page and click ‘Ethereum Classic’ from the drop-down box.
    3. Follow Steps 3 to 8 from the section on How to Buy Bitcoin in this guide.

    How to Buy Litecoin (LTC) On Coinmama

    1. Log into your Coinmama account.
    2. Move the mouse over the ‘Buy’ link on the top of the page and click ‘Litecoin’ from the drop-down box.
    3. Follow Steps 3 to 8 from the section on How to Buy Bitcoins.

    How To Buy Bitcoin Cash (BCH) On Coinmama

    1. Log into your Coinmama account.
    2. Move the mouse over the ‘Buy’ link on the top of the page and click ‘Bitcoin Cash’ from the drop-down box.
    3. Follow Steps 3 to 8 from the section on How to Buy Bitcoins.

    How to Cash Out on Coinmama

    Coinmama lets you sell your Bitcoin on the platform as long as you have a SEPA bank account. For more information on how to do this, click here.

    Check out our recommended crypto casinos where you can deposit and play with Bitcoin and other cryptocurrencies, once you withdraw from Coinmama:

    TrueFlip casino offers an exciting welcome bonus pack containing plenty of free spins and match bonuses. Join True Flip today and benefit from the fantastic promotions this stunning Bitcoin casino has on offer!
    CasinoFair is a blockchain powered cryptocasino. If you're looking to spice up your game, CasinoFair offers new slots, table games and instant withdrawals!
    CasinoBTC has one of the most mouth-watering, jaw-dropping, mind-blowing bonuses we've ever come across. It offers 5 deposit bonuses that could grant you €5000 for your bankroll!

    Supported Cryptocurrencies

    Coinmama allows users to buy any of the following cryptocurrencies listed below:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ethereum Classic (ETC)
    • Litecoin (LTC)
    • Ripple (XRP)
    • Bitcoin Cash (BCH)
    • Cardano (ADA)
    • Qtum (QTUM)

    Coinmama also allows users to sell their Bitcoin (BTC) to the exchange.

    Supported Countries

    Except for sanctioned countries and some US States, Coinmama exchange accepts users from almost all countries (over than 180, to be precise) in the world including the UK, EU, US, Australia, and Canada.

    Supported

    If you don’t live in any of the countries listed under the ‘Excluded’ section, then you can go ahead and create your account on Coinmama exchange and start buying cryptocurrencies.

    Excluded

    Even though Coinmama welcomes members from all over the world, it doesn’t accept users who are residing in the following countries due to local/international regulations:

    Cuba, Iran, Lebanon, Nigeria, North Korea, Palestinian Territories, Somalia, South Sudan, Sudan, Syria, Zimbabwe, Crimea.

    Coinmama is available only in selected US States. Users living in New York, Hawaii, Alaska, Mississippi, New Mexico, Washington, West Virginia and others are excluded. For further information, we suggest for you to have a look at the following list.

    States in Which you Can Use Coinmama
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Exchange Fees & Limits

    Every cryptocurrency exchange will have its own fee structure and limits. Coinmama is not an exception.

    Fees

    Coinmama will deduct a fee for every trade made as per below:

    Trading Fees

    Coinmama exchange charges a flat 5.9% fee for every transaction, irrespective of payment method used and cryptocurrency bought.

    Deposit Fees

    Coinmama exchange charges an additional processing fee of 5% for buying cryptocurrencies using debit/credit cards. No processing fee applies for payments via SEPA transfers.

    Withdrawal Fees

    Coinmama exchange does not charge any withdrawal fee. As soon as a purchase is made, the currency is instantly transferred to a wallet or bank account selected at the time of the transaction.

    Limits

    Coinmama restricts user purchases by imposing daily and monthly spending limits as given below:

    • Daily limit: 5,000 USD/EUR
    • Monthly limit: 20,000 USD/EUR

    The above limits are independent of the membership levels and will remain constant whether you are on Level 1, 2 or 3.

    Apart from the limits, Coinmama has set a minimum purchase amount of at least 60 EUR/USD to buy cryptocurrencies on its exchange.

    Supported Payment Methods

    Coinmama exchange allows the customers to use any of the payment methods listed below depending on their geographical location.

    • Credit/debit cards (only VISA and Master cards are accepted), excluding China, Bangladesh, Bolivia, Ecuador and Kyrgyzstan. Average transaction time is 10 minutes.
    • Bank Transfer (SWIFT) which is available in countries outside the EU. All SWIFT transfers must be made in GBP and must include your order number (eg: BBT88888888). Average transaction time is 2-3 business days.
    • Bank Transfer (SEPA) which is only available in selected countries, including the EU and the UK.  Average transaction time is 24 hours. For the full list of SEPA supported countries check out the list hereunder:
    SEPA List
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Coinmama Security

    The Coinmama exchange doesn’t store users’ personal information, such as credit card details or the supporting documents on their servers. Since the exchange doesn’t store the coins, users must take extra precautions, such as ensuring that they provide a valid wallet address to receive their cryptocurrencies.

    Coinmama Customer Support

    Support Links
    Screenshots are shown for illustration purposes only. Actual product may vary.

    In the case you experience any issues with your account, you can contact the Coinmama support via email, Facebook or by scrolling to the bottom of their homepage and submitting a ticket on their support page. Coinmama exchange doesn’t provide support via phone. It claims that it will take action on all kinds of customer queries/issues within 2 hours on any business day. (Sunday-Thursday 9:00-18:00 GMT+3 / 2 AM-10 AM EDT / 11 PM-7 AM PDT).

    Coinmama App

    This feature is not available yet.

    Coinmama Coming Soon Features

    At the time of writing, it does not look like the platform is close to releasing any new features. To stay up to date with the latest news you should check out Coinmama’s blog, which is available on the top navigation menu on each page.

    Top Competitors

    Coinmama vs Coinbase

    Coinmama is well known as a great alternative to Coinbase and even though both these exchanges provide the option to buy cryptocurrencies instantly, using your debit/credit card, the processing fee of Coinmama is higher compared to Coinbase. The key difference between the two exchanges is that Coinmama has a slightly higher commission % than Coinbase and they offer less selection of cryptocurrency.

    Regarding the support for international users, Coinmama accepts anyone located anywhere in the world, whereas Coinbase primarily targets the residents of the UK, US, EU, Australia and Canada.

    Both Coinbase and Coinmama provide much better security when compared with other exchanges. They have not been involved in any kind of cyber attacks or hacks to date, and as a result, both exchanges have equally gained the trust of the crypto community.

    Coinmama vs CoinSpot

    CoinSpot offers a large number of cryptocurrencies (50+) from its exchange, which is comparatively higher than Coinmama’s 8. Even though the Instant buy option is available on both exchanges, CoinSpot charges only a marginal fee when compared with the high fees charged by Coinmama.

    Unlike Coinmama, CoinSpot allows users to store cryptocurrencies on the multi-coin wallets provided by the exchange. CoinSpot is mainly devoted to Australian users, with little attention given to users from the rest of the world. Coinmama, on the other hand, provides its service to all parts of the world with minimal restrictions.

    Coinmama Review Conclusion

    Coinmama is an easy, and convenient way to buy and sell cryptocurrencies instantly. Although ideal for novice users looking to get hold of digital currencies, you will need to look for another exchange in order to trade your coins, if you ever need to. For this reason, Coinmama exchange may not be a best choice for professional or serial traders. For those who want to check out similar options, we encourage you to reader our guide ‘An alternative to Coinmama‘ and compare the different options.

    Pros and Cons

    Coinmama Pros and Cons

    How can I contact Coinmama?

    Coinmama customer care can be reached via email.

    How can I close my Coinmama account?

    To close your Coinmama account you need to send an email request to customer care.

    How safe is Coinmama?

    Coinmama is extremely safe as it does not store any of your funds or personal information on its servers. In addition, only verified accounts can use Coinmama’s services.

    How long does it take to get verified?

    Initial verification is completed in around 10 minutes. Additional verification can take up to six hours, depending on volume or requests.

    Who owns Coinmama?

    New Bit Ventures Limited, a company registered in Israel, owns the Coinmama exchange platform.

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