- Multiple fiat and payment methods accepted
- High fees for crypto purchases
Check out our full list of pros and cons or read on.
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Coinmama review
- Fiat currencies
- 6
- Supported assets
- 16
This is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
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.
- Complies with the Financial Crimes Enforcement Network regulations in the US. FinCEN is the peak body for regulating cryptocurrency exchanges in the US which requires Coinmama to comply with laws and regulations that are intended to provide certain protections for users.
- Trade with multiple fiat currencies. Coinmama allows you to trade with 6 currencies including USD, EUR, AUD, CAD, GBP, JPY.
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.
- Only 16 cryptocurrencies supported. Coinmama supports a smaller variety of assets than some of its competitors. This isn't necessarily a bad thing, but if you're looking for a large range of altcoins you may want to compare other platforms.
- Not available to all US residents. Coinmama is only available in 49 states. You can not use Coinmama if you are a resident of Hawaii and New York.
- No live chat or phone-based customer support. Coinmama does not have a live customer support service. Instead you will need to consult the FAQ or contact Coinmama via email, which may take several days to receive a reply.
Details
Product details
Product Name Coinmama Cryptocurrency Marketplace Fiat Currencies USD, EUR, AUD, CAD, GBP, JPY Cryptocurrencies BTC, ETH, ETC, DOGE, UNI, AAVE, LINK, ETC, BCH, COMP, EOS, OMG, WBTC, LRC, NMR & 1 more Deposit Methods Credit card
Fedwire
SEPA
Google Pay
SWIFT
Bank cardTrading Fee Buy and sell: 0.99% to 3.90% Finder Score
★★★★★About Coinmama — company background
Coinmama is a crypto broker exchange that was created in 2013.
Based in Israel, Coinmama specializes 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, 9 of the top 20 cryptos are available on Coinmama.
Popular assets on CoinmamasupportsBitcoin (BTC)supportsEthereum (ETH)supportsTether (USDT)does not supportBNB (BNB)does not supportSolana (SOL)supportsUSDC (USDC)supportsXRP (XRP)does not supportLido Staked Ether (STETH)supportsDogecoin (DOGE)does not supportToncoin (TON)does not supportCardano (ADA)does not supportShiba Inu (SHIB)does not supportAvalanche (AVAX)supportsWrapped Bitcoin (WBTC)supportsBitcoin Cash (BCH)does not supportPolkadot (DOT)does not supportTRON (TRX)supportsChainlink (LINK)does not supportNEAR Protocol (NEAR)does not supportInternet Computer (ICP)Coinmama fees
Coinmama uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.
Type Fee Maker 0.99% to 3.90% Taker 0.99% to 3.90% Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.
Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.
Coinmama deposit methods
- Credit card
- Fedwire
- SEPA
- Google Pay
- SWIFT
- Bank card
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.
- Get started
After selecting the Get Started button, fill in the create account form. - 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. - 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. - 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
SafePal S1 Wallet
Go to site Go to site Go to site Supported assets
5,500+
Supported assets
9,000+
Supported assets
30,000+
Price (USD)
$149
Price (USD)
$179
Price (USD)
$49.99
See more of the best crypto wallets
Coinmama customer support
You can use Coinmama's help center to help troubleshoot issues.
If you need to contact someone from Coinmama, you can do so via a contact form or via email.
Reviews of customer service on Trustpilot are good, with many reporting helpful, prompt support.How to reach Coinmama customer support
- Contact form
- Help center articles
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Ash
February 15, 2018
Hello Adeel,
Thank you for reaching out to us.
A gentle reminder, we do not represent Coinmama or any of the companies that we feature in our pages.
Nevertheless, when buying BTC with Coinmama, depending on your payment method, they charge 5.5% for every transaction and another 5% if you are going to use a credit card. So, in the given example above, for every $1000 worth of Bitcoin purchase, there will be a $55 fee. Please also note that other fees like if you’ll use your credit card, CA and FOREX conversion (if applicable) are not yet accounted for.
Please click on the green ‘Go to site’ button above if you wish to be redirected to the official site of Coinmam and process your BTC purchase from there.
I hope this helps.
Please do not hesitate to reach out to us again if you have additional questions.
Cheers,
Ash
Show more Show less - 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.
- 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.
adeel mehmood
January 31, 2018
we are runing a company where we nee 100 btc on daily basis how much fee you will charge how much time will taken for getting 100 after payment process