Coinmama Review

Coinmama Ratings at a Glance

Coinmama seeks to make buying and selling coins as easy and accessible as possible. It provides a secure platform to buy and sell crypto and rewards frequent traders with generous discounts on commissions and other fees. 

Learn more about what the platform offers and how the service holds up to its competitors in our Coinmama review.

The cryptocurrency exchange seeks to set itself apart by offering the easiest, fastest and most secure buying and selling options of any crypto exchange. It offers the following services and functionalities:

• Buy and sell 10 cryptocurrencies. The current options include Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Qtum, Cardano, Ripple, EOS and Tezos. More are added all the time.
• Instant transactions. After your order is placed, you should see your coins in your wallet within 10 minutes. You’ll be able to track the status of your order through your Coinmama account.
• Loyalty programs. Coinmama enrolls all its customers in its 3-tiered loyalty program. You start at level 1, which has no added benefits. At level 2, you get a 12.5% discount on the final price of your purchase. You also get access to fast-tracked customer support. At level 3, you get a 25% discount of the final price and first priority with customer support. 

What Coinmama does not provide is a crypto wallet. You will need to get a crypto wallet from a third-party provider in order to receive the coins you purchase from Coinmama. It provides a really thorough and easy-to-follow guide in their help center to show you where to find a no-fee, secure crypto wallet to store the coins you buy from Coinmama.

While there are no monthly membership fees or other regular surcharges, Coinmama does have a kind of complicated fee structure that applies to each transaction. It’s generally in line with—and sometimes cheaper than—what other crypto exchanges charge but a little more transparency about fees would make this area of Coinmama’s service a lot better. 

Here are the fees you might encounter when buying and selling:

• 3.90% commission on all buy transactions
• 0.90% commission on all sell transactions
• 5% transaction fee for credit or debit card transactions

While the ability to use credit or debit cards to buy crypto is convenient, it’s not cheap. You can get around this fee by using direct bank transfers which Coinmama doesn’t charge any additional fees for. 

Another way to get around the fees is through the loyalty program discussed above. There’s no need to enroll in the program. You are automatically enrolled and automatically level up as your trading activity qualifies you for higher levels.

Coinmama takes pride in offering one of the most responsive and accessible customer support teams. This is notable because customer service can be a weak point in a lot of fintech services, especially trading platforms and crypto exchanges like Coinmama.

However, this company defies the trend by providing multiple channels for customers to reach out through. Those channels include:

• Email
• Phone
• Support chat bot
• Social media

Whichever channel you use, you can expect an answer within 24 hours. For those who qualify for level 2 or level 3 in the loyalty program, that response time can be even faster.

If you need general help with buying, selling or learning about crypto, you can also check out the Help Center. It’s a comprehensive database of explainers and resources to help you learn more about how Coinmama’s exchange works as well as how cryptocurrency works more broadly. It’s a great resource for anyone who’s new to the world of crypto.

Currently, the platform is only available on the web. The site is fully mobile-friendly and easy-to-use, so buying and selling will be just as easy on a phone or tablet. 

Your coins are kept in an external wallet, not in your Coinmama account, so the need for mobile monitoring features isn’t that high here. Still, crypto traders looking for the convenience of a dedicated mobile app might prefer another crypto app. 

While the lack of a mobile app and an in-platform crypto wallet might make Coinmama feel a little incomplete, the overall service is still solid for its convenience and security. You get access to all the major cryptocurrencies, a wide variety of payment options, and the comfort of knowing your order will fill instantly. 

For traders who prioritize keeping their payment data secure and minimizing their exposure to hackers or scams, Coinmama is one of the best cryptocurrency exchanges you could choose.

Benefits of Coinmama 

Some of the features that set Coinmama apart from platforms like it include:

• Instant transactions. When you buy or sell cryptocurrency on the platform, your orders are filled by Coinmama’s own supply. This means the coins will land in your wallet within about 10 minutes. 
• Safety. Security is one of the standout features of Coinmama’s service. The direct buying and selling from Coinmama that allows the platform to offer instant transactions also makes your transactions more secure. 
• Higher spending limits. Coinmama allows you to buy up to $30,000 worth of crypto at a time.
• Flexibility. The exchange allows you to pay via credit card, debit card, bank account transfer and Apple Pay.
• More accessible. With customers in over 188 countries, this exchange has global reach and it’s one of the few supports so many countries.
• Responsive customer support. This might be the most unique offer from the exchange. Coinmama has made it a priority to provide top-tier support to every single one of its 2,700,000 customers.

Frequently Asked Questions