Coinmama Refund

coinmama-review

The legal tender of cryptocurrency is growing rapidly. While the infrastructure isn’t supported enough worldwide, at least it’s getting easier within reach. This is the future for digital currency.

If this is your first time hearing about cryptocurrency, don’t worry. Coinmama is here for you.

This review will go in-depth into its many features and services. Can’t read everything? You can look at the conclusion at the end of the article.

coin-logo

Before you continue, you may want to check out this video by FX Empire on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of our article for a more comprehensive review of Coinmama.

Features Coinmama Refund

Coinmama is a brokerage service for all kinds of cryptocurrencies. They currently accept these coins:

  • Bitcoin (BTC).
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH).
  • Cardano (ADA)
  • Qtum (QTUM)
  • Ethereum (ETC).
  • EOS (EOS)
  • Tezos (XTZ)

This service is ideal for both bitcoin sellers and cryptocurrency traders. The system allows you to buy and sell directly from the company. When a transaction takes place, there are no middlemen and no hidden fees.

Pros and Cons at a Glance

Here’s a sneak peek of Coinmama’s service on the surface level. These may vary from one user to the next.

Pros

  • It can be used in 10 cryptocurrencies.
  • Wide range of payment methods
  • No middlemen or extra fees are involved.
  • Direct selling of cryptocurrency

Cons

  • No mobile app
  • High transaction fees
  • There are no crypto-to-crypto transactions
  • No crypto wallet

Coinmama Refund

> > Click here to check out Coinmama < <

How Coinmama Works for Cryptocurrency

You must buy and sell the coins when you open an account. Sounds easy, right? One thing you should know before buying: the accepted rates.

Exchange rates are listed in your local currency until a purchase is made. Why? Most cryptocurrencies are listed in USD, EUR, GBP, CAD, AUD, and JPY. It will, therefore, be converted when you organize a transaction.

You can pay with debit cards, credit cards or bank transfers. Except they do not accept American Express, Discover, and PayPal.

Fees

The fees are the technical part. Cryptocurrency follows an index called TradeBlock XBX. It averages the rate of a market rate, which is where Coinmama bases their rate.

Coinmama charges a base brokerage fee of 5.9%. Coinmama charges a base brokerage service fee of 10.9% in total, which already includes a 5% credit card fee. These percentages allow you to calculate all costs before you make your purchase.

The table below summarizes the costs to be used.

ITEM/SERVICE COINMAMA COST
Transaction fee XBX rate + 2%
Commission fee (standard), — buy 3.9%
Commission fee (standard), — sell 0.9%
Card transaction fee 5%
SWIFT transfer under $1,000 USD Min. PS20
SWIFT transfer over $1,000 USD There is no additional charge
SEPA transfer No additional fee

 

The one thing you should know is the cost of the actual cryptocurrency. One Bitcoin may cost around $1000 or more, depending on the market. Use that amount and convert it to the prices used by Coinmama. You might need to be cautious.

crypto-coins

> > Click Here to Check out Coinmama < <

Limits on Buying

There is a limit to how much you can spend, depending on the account level. To confirm, you will go through identity verification. Since you are the one performing the transaction, this prevents any fraudulent information being leaked.

Each succeeding level in your account can grant you more considerable spending limits. These are the stories.

  • Level 1 – 1 valid government-issued I.D. You also need a selfie of yourself holding your I.D. A note marked “Coinmama”, with today’s date, and with the word “Coinmama”.
  • Level 2 – A secondary I.D. to support your I.D.s. You will need to upload your utility bill in addition to the two I.D.s.
  • Level 3 – A short form will be filled.

A VIP level is an even higher level. You need to reach out to Coinmama if you want a custom limit with higher spending limits. All levels are based on 30 days and not a complete month.

After verification, Bitcoins can be purchased for 60 USD or equivalent in EUR, GBP and CAD. You can only buy Bitcoins at Level 1 for a daily limit of 5,000 USD and a monthly limit of up to 15,000 USD.

Limited Selection

Although it is well-known that you can buy ten different cryptocurrencies, Bitcoin cannot be sold outside of Europe. All other cryptocurrency can also be purchased and traded around the globe. Coinmama’s service is still the same as their goal.

User-Friendly Platform

Every other brokerage service can be daunting with the amount of data. Statistics, graphs, and all that stuff are difficult for everyone. Coinmama simplifies it all down to the user experience.

It’s as easy as that. After you have created an account, you can buy the coins. The coins can also be sold for higher returns if everything goes according to plan. You need to be careful about how you do it.

cryptocurrency-coins

> > Click Here to Check out Coinmama < <

Comparison to Similar Exchanges

Important note: the fee percentage applies to debit card and credit card transactions only. Broker fees are also included. A credit clearing fee of around 3%-5% will be present in these purchases.

Coinmama vs. Bitstamp

The service is almost identical to Coinmama, with Bitsamp charging 5%. While the percentage may look the same at first look, think again. It is also available worldwide, just like Coinmama.

Coinmama vs. Coinbase

Coinbase’s fees are 3.99% lower than Coinmama. But their cryptocurrency services aren’t available worldwide. They are available in 103 countries. However, their customer service is not well-respected.

Security and customer support

The excellent aspect about Coinmama is that the company is not withholding the customer’s funds. Your payment information will not be compromised. The company is registered with FINCEN USA. This ensures security.

As for their customer support, they’re available 24/7. You can reach their dedicated support team via live chat to voice your concerns. You can also contact them via email or their official Facebook page.

Worldwide Availability

Coinmama is available to use in every country around the world. However, there are some exceptions in the United States as it is not available in all states. Coinmama is not available to residents of New York or Hawaii.

You may be able to use their service if you reside in one of the U.S. states with access. You may have to look into alternatives.

What Can be Improved in Coinmama

A transaction problem could arise since there is no cryptocurrency wallet. Before you can purchase crypto wallets, you will need to get them from another vendor. It does, at least, lessens the risk of having your cryptocurrency from being hacked. Coinmama has partnered with Zeno to store coins as a backup.

Another factor is that they do not have an official app. Even if their interface is easy to navigate on a smartphone browser, it’s not accessible enough.

Conclusion

Coinmama is one of the best starting points for cryptocurrency. It is easy to use thanks to its simple interface and straightforward procedures. Even verification is quick. Coinmama Refund

Although it is a great product, there are some flaws. Having no crypto wallet nor app makes it tricky to access every transaction. Even the fees they use may be too high for newcomers who want to dive into cryptocurrency. The most significant factor here is where one lives. Coinmama Refund

Overall, Coinmama’s brokerage services are satisfactory. But do note the irregular nature of cryptocurrency as a whole. Invest your money wisely.

crypto-monitor

> > Click Here to Check out Coinmama < <

Frequently Asked Questions (FAQs) Coinmama Refund

What is Coinmama?

A cryptocurrency exchange based in Israel, it is called Coinmama. Since its founding in 2013, it is one of the leading financial companies for digital currency. All transactions are secure and can be used for personal purposes.

Is Coinmama safe?

Yes. They offer secure services and are a beginner-friendly platform to use cryptocurrencies. Although their fees can be expensive at times, they provide a high level of quality. A bank transfer can help you save more.

Does Coinmama accept cards?

Of course. There is a catch. While Coinmama accepts Visa, Mastercard, but not American Express, Discover, nor PayPal.

Is it necessary to have a photo ID in order to sign up for Coinmama

Yes. This is to make sure that Coinmama users are you. You can go through 3 levels of verification if you wish to increase your cryptocurrency spending.

How are Bitcoins bought in Coinmama?

After signing up and submitting I.D.s you can click on the “Buy Now” button. Coinmama allows you to choose the amount and click the “Buy Now”. The next step is to review the payment information.

Once you have done that, you will receive the coins. Those coins are cryptocurrency by default. With a volatile market, there are chances you can earn coins at a different price. Time your investment carefully.

What is the verification process in Coinmama?

Coinmama verification can be completed in as little as 15 minutes, or as fast as 30 minutes. The way you verify on the platform goes through various levels. Each subsequent level gives you a higher spending limit.

Coinmama: Who should it be used for?

Coinmama is available to first-time buyers. If one doesn’t have any cryptocurrency at any point, it can be purchased with your credit card or debit card.

digital-device

> > Click Here to Check out Coinmama < <

error: Content is protected !!