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Coinmama review

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Coinmama Cryptocurrency Marketplace
3.0
★★★★★
Finder score
Fiat currencies
6
Supported assets
16
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Our verdict

Purchase crypto assets and have them sent directly to your wallet with Coinmama.

Coinmama is a nearly decade-old peer-to-peer crypto exchange.

As a peer-to-peer exchange, Coinmama brokers deals directly between buyers looking to purchase crypto with fiat currency and sellers looking to sell their crypto for fiat currency.

Coinmama allows you to purchase crypto using a host of different payment options ranging from bank transfers to Apply Pay to wire transfers.

To use Coinmama, you have to know how to set up a self-custodial crypto wallet, as your crypto purchases are sent directly to you. The private keys for your crypto are never held in Coinmama’s custody.

Transactions fees on the platform are high, so unless you have a specific reason to use Coinmama, you may be better off using an exchange with lower fees.

Pros

  • Simple UI. If you’ve already set up a non-custodial crypto wallet, then Coinmama is easy to use. The platform’s UI is simple and streamlined.
  • Crypto purchases sent directly to a non-custodial wallet. Coinmama doesn’t custody any digital assets for customers. You must set up a non-custodial wallet if you plan to use the platform.
  • Has served customers for nearly a decade. Coinmama was founded in 2013 and has served its users well, with no major reported issues.

Cons

  • High fees. Coinmama’s commission fees range from 0.99% to 3.90%, depending on how much you spend within a 90-day period on the platform.
  • Can only sell BTC on the platform. While you can purchase multiple crypto assets on Coinmama, you can only sell Bitcoin (BTC) via the platform.

In this guide

  • Review
  • Details
    • Product details
  • Frequently asked questions
  • Ask a question

Details

Product details

Product Name Coinmama Cryptocurrency Marketplace
Fiat Currencies USD, EUR, AUD, CAD, GBP, JPY
Cryptocurrencies BTC,ETH,USDT,USDC,XRP,DOGE,UNI,AAVE,LINK,ETC & 6 more
Deposit Methods Credit card
Debit card
Apple Pay
Google Pay
Trading Fee Buy and sell: 2.93–3.9%
Deposit Fees 0–5%
Withdrawal Fees N/A (assets are sent to user’s wallet directly)

Ratings methodology - how we scored Coinmama

Supported cryptocurrencies ★★★★★
Transferring money or assets ★★★★★
Fees and costs ★★★★★
Ease of use ★★★★★
Customer service ★★★★★
Features ★★★★★
Staking/earn ★★★★★
Trustworthiness/security ★★★★★

How we rate our crypto exchanges and platforms

Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.

Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.

About Coinmama — company background

Coinmama is a crypto broker exchange that was created in 2013.

Based in Israel, Coinmama specialises in fiat-to-crypto purchases where assets are deposited directly into users’ wallets. 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. Fees are high for purchases and sales. 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.

Listed Coinmama crypto exchange assets

Coinmama supports over 16 cryptocurrencies, but some notable assets are missing. Namely, BNB, Solana and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 10 of the top 20 cryptos are available on Coinmama.

Popular assets on Coinmama
supports
Bitcoin (BTC)
supports
Ethereum (ETH)
supports
Tether (USDT)
does not support
BNB (BNB)
does not support
Solana (SOL)
does not support
Lido Staked Ether (STETH)
supports
USDC (USDC)
supports
XRP (XRP)
supports
Dogecoin (DOGE)
does not support
Toncoin (TON)
does not support
Cardano (ADA)
does not support
Shiba Inu (SHIB)
does not support
Avalanche (AVAX)
supports
Wrapped Bitcoin (WBTC)
does not support
TRON (TRX)
supports
Chainlink (LINK)
does not support
Polkadot (DOT)
supports
Bitcoin Cash (BCH)
supports
Uniswap (UNI)
does not support
NEAR Protocol (NEAR)

Coinmama fees

Coinmama charges a fee for 0–5% deposits.

Coinmama deposit methods

  • Credit card
  • Debit card
  • Apple Pay
  • Google Pay

How to sign up on Coinmama exchange

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). This can take time. The reason for this is Coinmama's commitment to certifications and compliance with regulations and insurers.

  1. Get started
    After selecting the Get Started button, fill in the create account form.
  2. Set up payment
    Before you can start trading, you have to add your bank account to your Coinmama account. There are several options to choose from, so choose the option most compatible.
  3. Provide identification
    Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this.
  4. Start trading
    After all that is processed, you're ready to trade on Coinmama.

Is Coinmama safe?

Coinmama is a regulated exchange that holds no user assets. This makes it secure as there is nothing to hack other than user data. There have been no security audits of the exchange.

Past hacks. Coinmama was hacked in 2019. However, it was solely a data leak. Coinmama disclosed that 450,000 email addresses and passwords were affected.

Security audits. There have been no security audits performed on Coinmama. The company allows users to set up 2-factor authentication, SMS alerts and other account security measures.

Insurance. Coinmama has no insurance, because it doesn't store user funds.

Keeping your crypto secure

All centralised exchanges, including Coinmama, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

Coinmama customer support

Coinmama offers support via email only. However, the site’s FAQ and service desk support documents are reasonably comprehensive and easy to understand.

Coinmama has a help center available to users, in addition to a contact form. Reviews of customer service on Trustpilot are good, with many stories of helpful, prompt support.

How to reach Coinmama customer support

  • Contact form
  • Help center articles
  • Phone

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

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Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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Frequently asked questions

Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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