- 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
Coinmama Cryptocurrency Marketplace isn't available on Finder right now.
- Fiat currencies
- 6
- Supported assets
- 15
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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 15 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 |
| Deposit Methods |
Credit card Fedwire SEPA Google Pay SWIFT Bank card |
| Trading 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 15 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, 8 of the top 20 cryptos are available on Coinmama.
Popular assets on Coinmama supports
Bitcoin (BTC) supports
Ethereum (ETH) supports
Tether (USDT) supports
XRP (XRP) does not support
BNB (BNB) does not support
Solana (SOL) supports
Dogecoin (DOGE) supports
USDC (USDC) does not support
Lido Staked Ether (STETH) does not support
Cardano (ADA) does not support
TRON (TRX) does not support
Avalanche (AVAX) does not support
Toncoin (TON) does not support
Wrapped stETH (WSTETH) supports
Chainlink (LINK) does not support
Shiba Inu (SHIB) supports
Wrapped Bitcoin (WBTC) does not support
Sui (SUI) does not support
Hedera (HBAR) does not support
Polkadot (DOT)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 |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
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
Alternatives to Coinmama
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Evan Finder
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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
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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