Coinmama allows you to buy Bitcoin and other popular cryptocurrencies just 30 minutes from the time you sign up, hassle-free. Or so it claims. I’m Nate Martin and were taking a deeper look into Coinmama in our 2-minute review. Founded in 2013 and with over 2 million customers in 188 countries, Coinmama is a veteran cryptocurrency brokerage service. It allows you to buy and sell cryptocurrencies in a fast and easy way while charging a premium for its services. Coinmamas buying process is indeed intuitive and simple. To qualify for Level 1 verification, you’ll need to submit a government-issued ID and a selfie. This will allow you to buy anywhere from 60 to 15,000 dollars per month. On paper, verification is extremely quick and takes about 30 minutes. However, judging from user comments on our site, it seems that getting the verification process completed on the first trial isn’t always an easy task.
Additionally, Coinmamas support doesn’t always explain why a certain verification process was declined. Coinmama doesn’t hold any coins for you. This means that if you buy from them you’ll also need to supply a Bitcoin address to receive your coins. We believe it’s always better to store cryptocurrencies on a personal wallet, so we actually look at this as a positive thing. Coinmamas overall fee varies depending on your payment method. In general, wire transfers will have a fee of around 6%, while credit card purchases can charge up to 11%, which is relatively high considering alternatives. On the support side reviews are mixed. Coinmama receives a TrustPilot rating of Great but its hard to ignore the barrage of negative reviews around the web. Still, compared to other exchanges, Coinmamas support is doing a better job than most. To conclude, Coinmama is a global, super fast and easy to use service, with an above-average support team and relatively high fees. Make it 4 Stars from us here at 99Bitcoins as we consider it a good solution if you need to get cryptocurrencies fast and are less sensitive about fees.
Have you used Coinmama? Let us know what you think in the comments below. And if you haven’t, you can sign up or read our in-depth review using the link in the description below. That’s today’s 2-minute crypto review. Ill see you… in a bit. If you’ve enjoyed this video, leave us a thumbs up and make sure to subscribe and click the notification bell so you don’t miss a review, news updates or the clearest information about Bitcoin and cryptocurrencies anywhere..
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