Coinmama is a highly specialized exchange thst allows you to buy cryptocurrency. The platform belongs to the Israeli company New Bit Ventures Ltd, which was founded by Nimrod Gruber and Ilan Schuster in 2013. Their main office is in Israel too.
The platform is one of the largest services. It allows the exchange of real money for cryptocurrency. Coinmama offers you to sell Bitcoin and to buy 8 of the most popular currencies:
The service is available almost in any country. It deserved such popularity as one of the first exchanges which allow you to make a quick exchange of fiat money into cryptocurrency.
Is Coinmama legit?
Beginners of this service should not worry about its legality. The platform is registered and provides its certificate on the website to anyone who wants to see it.
Now you need to confirm your email. Congratulations, you are ready to buy cryptocurrency on Coinmama.
Without Coinmama verification, you can make a purchase. Therefore, this is what you see after confirming the email:
To get the first level of verification you need to enter your personal data (address of residence, name, gender, phone number, and ZIP code).
For the second level, you need to upload the documents confirming the data you entered before.
Now, you can be approved for the purchase of up to $15,000.
Is Coinmama safe?
The exchange acts only as an intermediary. There are any internal purses for storing currency.. The exchange uses Trust Guard and Comodo technologies for the protection, as well as 256-bit SSL encryption for information that contains personal data. So those who wonder “Is Coinmama safe?” or “Is Coinmama legit?” shouldn’t worry about their safety. There is definitely no Coinmama scam.
As for the Coinmama fees, it is above the average, about 5.9%. But for this amount every user can be sure that as soon as the exchange receives the money, the cryptocurrency will instantly be deposited to his purse. In case of an unsuccessful transaction, the platform promises to return the entire sum within 48 hours.
Coinmama support is provided by e-mail, and the employee must respond within 24 hours.
Now let’s sum up the Coinmama review 2020. Let’s divide the pros and cons and see if there is Coinmama fraud.
For a person who isn’t interested in altcoins, the only minus is the commission, but because of purchasing speed and the possibility of using credit cards, this Coinmama review recommends to use it.
- The easiest service to buy Bitcoin and Ethereum;
- The acceptance of payments from the bank cards and international transfers;
- The affiliate program (15 percent of the commission from the referral’s purchases);
- The supporting of more than 200 countries and many states of America;
- User-friendly interface;
- The availability of the mobile application.
- High commission, payment only by dollar or euro;
- The lack of schedules and tools.