Coinmama scam or not

Coinmama is one of the most expensive exchanges. This charge is in addition to an exchange transaction fee of 6. In comparison, CEX charges a transaction fee of 3. If users go to other platforms to trade between crypto assets, an even bigger gap in the cost of trade is incurred.

As a rule of thumb, you can expect exchanges to charge less when you are buying cryptocurrencies with other cryptocurrencies.

It currently accepts Visa and MasterCard. It also accepts payment through Western Union. By making special arrangements with support, you can also use cash to buy bitcoins or ether.

The lack of a wide range of payment methods makes Coinmama less attractive compared to other exchanges. When using a credit or debit card, Coinmama accepts payment in whatever local fiat currency the buyer prefers. The exchange has promised to add more fiat currencies in time. The primary channel to reach Coinmama support is through email. Compared to other major exchanges, response is very fast, with queries consistently replied to within 24 hours.

Waits are longer over the weekend or during public holidays. The exchange has a detailed knowledge-base platform that provides answers to most common questions. Furthermore, the support team also responds to questions left on their blog. One common customer complaint is the slow account verification process. Sometimes users say they are also unable to successfully place orders following verification. There are of course many similar sites to Coinmama, and most will have two-way trading.

Here are the best alternatives:. Review of Coinmama Crypto Exchange bestbitcoinexchange. Bitcoin Brokers Filter by:. Open filter Close filter. No results to be displayed. A short guide for using Coinmama's website. How was your experience using Coinmama? Was it good or bad, and what would you add to this Coinmama review? Let me know in the comments below.

Read More Buy Now. Thank you for submitting your comment for moderation. Notify of new replies to this comment. Whats the point of using coinmama if its more expensive and has barely any coins? One if it's biggest advantages is that you can accepts cards from over countries, also offers a high upper limit of first timers.

So it will depend on what you want from the exchange, if you want cheap fees and lots of coins then take a look at bittrex, poloniex, bitstamp. For people in Canada, it is much harder to get access to BTC even though they are willing to pay more. Provided that it continues to have a lot of BTC and Ethereum in their inventory, Coinmama is sure to have more users in the years to come. This might sound irrational, but there are people who are more than willing to pay high transaction fees just so they can buy Bitcoin as fast as possible.

I think this is what Coinmama is banking on. There are many people with debit and credit cards around the world who want a piece of the Bitcoin market, but they'd prefer taking the simplest route. With Coinmama, they don't have to haggle or look at various offers from other users. They just have to buy directly from the site. On the part of Coinmama, I hope that they don't turn into an exchange.

Their appeal right now is what makes them special. They don't have to worry about having an API, and people can just go to the mobile site -- with complete functions -- instead of a buggy app. I wonder when they'll accept other convenient payment methods? Others such as Coinbase buy and sell directly from clients. A thorough inspection of Coinmama always requires a search online.

Doing so returns a user who goes by the name Coinmama on Localbitcoins, giving an indication that the exchange may buy the bulk of its bitcoins from users on other exchanges.

Coinmama offers no trading tools, such as charts and price notifications, as do most other exchanges. As a trader, you can only use the platform to buy bitcoins or ethers to hold for a long position. Coinmama is one of the most expensive exchanges. This charge is in addition to an exchange transaction fee of 6. In comparison, CEX charges a transaction fee of 3. If users go to other platforms to trade between crypto assets, an even bigger gap in the cost of trade is incurred.

As a rule of thumb, you can expect exchanges to charge less when you are buying cryptocurrencies with other cryptocurrencies. It currently accepts Visa and MasterCard. It also accepts payment through Western Union. By making special arrangements with support, you can also use cash to buy bitcoins or ether.

The lack of a wide range of payment methods makes Coinmama less attractive compared to other exchanges. When using a credit or debit card, Coinmama accepts payment in whatever local fiat currency the buyer prefers.

The exchange has promised to add more fiat currencies in time. The primary channel to reach Coinmama support is through email. Compared to other major exchanges, response is very fast, with queries consistently replied to within 24 hours. Waits are longer over the weekend or during public holidays. The exchange has a detailed knowledge-base platform that provides answers to most common questions. Furthermore, the support team also responds to questions left on their blog.

One common customer complaint is the slow account verification process. Sometimes users say they are also unable to successfully place orders following verification. There are of course many similar sites to Coinmama, and most will have two-way trading. Here are the best alternatives:. Why Coinmama Review of Coinmama bestbitcoinexchange. Bitcoin Brokers Filter by:.

Open filter Close filter. No results to be displayed. A short guide for using Coinmama's website. How was your experience using Coinmama? Was it good or bad, and what would you add to this Coinmama review? Let me know in the comments below. Read More Buy Now. Thank you for submitting your comment for moderation. Notify of new replies to this comment.

Whats the point of using coinmama if its more expensive and has barely any coins? One if it's biggest advantages is that you can accepts cards from over countries, also offers a high upper limit of first timers.

So it will depend on what you want from the exchange, if you want cheap fees and lots of coins then take a look at bittrex, poloniex, bitstamp. For people in Canada, it is much harder to get access to BTC even though they are willing to pay more. Provided that it continues to have a lot of BTC and Ethereum in their inventory, Coinmama is sure to have more users in the years to come.

This might sound irrational, but there are people who are more than willing to pay high transaction fees just so they can buy Bitcoin as fast as possible. I think this is what Coinmama is banking on. There are many people with debit and credit cards around the world who want a piece of the Bitcoin market, but they'd prefer taking the simplest route. With Coinmama, they don't have to haggle or look at various offers from other users.