Coinmama Review: Is it reliable to Buy Bitcoin from Coinmama?

coinmama review

Coinmama Review: With the recent boom in cryptocurrencies, everyone is will to grab their share of profit. 

Bitcoin and Ethereum have become the hottest cryptocurrencies which people want to buy. However, buying Bitcoin has always been a tedious task.

But..

Looking at the pain point of the people, one company came up with a very easy and quick way of Buying Bitcoin. Yes, you guessed it right, it’s Coinmama.

Initially Buying Bitcoin took a lot of time and efforts but Coinmama made the process swift by allowing Credits cards as a payment mode.

So Today I’m going to give you a complete review of Coinmama, the site which changed the way people used to Buy Bitcoins.

So without any further ado! Let’s get started with our review.

What is Coinmama Review?

coinmama logo 2

Coinmama is a very popular website which allows to Buy Bitcoin and Ethereum using Credit and Debit Cards. It was founded in 2013 and is headquartered at Slovak Republic.

Coinmama has pioneered in selling Bitcoin and Ethereum readily to anyone who has a credit/debit card. Here you can Buy Bitcoin directly from the site without any middleman in between. This makes the purchase really prompt and reliable.

Moreover, Coinmama only allows to Buy crypto and does not have any feature to sell them. Also, they do not provide a web wallet, thus you need to enter your Wallet Address where you wish to receive the funds.

In which Countries Coinmama is Available?

This is one of the most asked questions, so let’s see in which countries you can use Coinmama to Buy BTC and ETH.

Currently, CoinMama is available in 217 countries which includes United Kingdom, United States, India, Dubai, Srilanka, Spain and much more. You can checkout the complete list of available countries here.

However, Coinmama supports only a handful states in U.S.A. :

  • Arizona
  • California
  • Colorado
  • Florida
  • Illinois
  • Indiana
  • Virginia
  • Wisconsin
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Michigan
  • Pennsylvania
  • South Carolina
  • Missouri
  • Montana
  • Nevada
  • New Jersey
  • New Mexico
  • North Carolina
  • Tennessee
  • Texas

They also accept all local currencies which makes it one of the most widely used Bitcoin Buying site in the world.

Which are the Cryptocurrencies offered by Coinmama?

Currently, Coinmama sells Bitcoin and Ethereum only but there are going to add many more cryptocurrencies very soon.

I would also like to add that in a recent interview, Company representative stated that they will soon introduce Sell option for users. Thus Coinmama would become a place for Buying & selling cryptocurrencies.

What are the Payment modes on Coinmama?

There are only a few ways to buy crypto at Coinmama:

  1. Credit Card
  2. Debit Card
  3. Cash (Western Union)

You can use both Master and Visa powered cards. However, there is no option to do wire transfer or link your bank account.

What are the charges/fees?

FeeCharges
Transaction Fee5.5%
Credit Card Feearound 5%
Cash Advance FeeNegotiable

Coinmama charges a flat 5.5% on every transaction and in addition to it, you will be charged around 5% as your credit card fee.

CoinTip: Sometimes your credit card company might charge you with Cash Advance Fee for which you can raise a dispute and might get the refund.

What are the Purchase Limits?

coinmama buying

Purchase limits and Verification level goes hand in hand for buying BTC on Coinmama.

Coinmama has a daily limit of:

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

Moreover, There are 3 levels of verifications for lifetime transaction limit and each allows you to buy bitcoin up to a certain amount.

Level 1: It allows purchases up to $10000 and you have to submit your basic details like Name, Phone number, email and a government-issued ID.

Level 2: It allows purchases up to $50000 and you need to submit a Passport and Driving License or a similar ID proof. You might also be asked to click a selfie holding your ID proof, for added security.

Level 3: If you are willing to go big and eyes to purchase BTC worth more than $50000, then you need to contact coinmama’s customer support at support@coinmama.com and ask them the required procedure.

What is the minimum purchase on Coinmama?

Not everyone goes and buy 1 bitcoin at a time. So, Coinmama allows users to purchase Bitcoin in fractions and the minimum purchase is worth $60.

How Much time does it take to get my Bitcoin?

When I purchased Bitcoin on Coinmama, it took 30 minutes to reflect the funds in my Bitcoin Wallet.

But here are a few things on which the time depends:

  • Confirming the payment by credit card company
  • Confirming your Bitcoin wallet address
  • Confirming the transaction on Blockchain

Since Coinmama is not a broker and sells the cryptos from their own inventory, it saves a lot of transition time.

How is the Customer Support?

Customer Support of Coimama is available through Email only. So if you face any issue you can straight away write down to support@coinmama.com and you will get a response within 24 hours.

You can also take the help of the FAQ page which has all the questions very well answered by their team. If you do not get any response, then you can also try to reach them through their Facebook Page.

What about Security & Reliability?

Coinmama has been around for more than 4 years now and till now no illegal activity has been recorded in their name. Coinmama is a registered company and has millions of happy customer.

Moreover, it does not have 2-factor authentication and work only on regular password protection.

However, I find this site to be very reliable and safe as I have never faced any issues with it.

Pro & Cons

Pros

  • Available Worldwide
  • Real-time Price
  • Easy for Beginners

Cons 

  • Does not allow to store crypto
  • Does not allow to sell
  • Does not accept Paypal

How to get started on Coinmama?

As you know all the nitty gritty of Coinmama, now its time to grab some Bitcoins. You just need to create an account, verify it and Buy Bitcoins.

But before you Buy Bitcoins, just get yourself a secure Bitcoin wallet.

1. Go ahead to Coinmama site

2. Register as a New user by entering Name, Email ID etc.

coinmama register

3. Now verify your account here

coinmama account verify 4. Once your account is completely verified, its time to Buy Bitcoin/Ethereum.

coinmama buy bitcoin

That’s it! You will soon receive BTC/ETH in you verified wallet address.

So, This is it for today.

I hope you liked this detailed Coinmama Review and if you did then don’t forget to subscribe us by clicking on “Red Bell Icon” to get regular updates about cryptocurrencies.

Meanwhile, have a look at these handpicked articles:

Coinmama Review
  • Ease of Use
  • Country Availability
  • Fees
  • Customer Support
  • Payment Modes
4.1

Leave a Reply