Coinmama Review

Coinmama Review

Coinmama was founded in Israel and proven their name as reliable and trustworthy broker. Now have more than 200,000 customers. Accepts Western Union as well. This and more details in this Coinmama review provided below.

Supported Cryptocurrencies
  • Bitcoin (BTC)
  • Announced that Coinmama is working on adding more cryptocurrencies in the near future
Offered Services
  • Buy Bitcoins
  • Sell Bitcoins (coming soon)
Payment Methods Accepted
  • Credit/Debit Card (Visa or Mastercard)
  • Western Union
Fees
  • Credit/Debit card buys - 5%
  • Services fee - 6.6%
Verification Process
  • Requires to verify your identity
  • You must provide ID, Passport or Driver's License
  • Additional verification can be required when total amount of buys reaches big numbers (utility bill, a selfie of you holding ID)
Supported Countries
  • Most of the countries where Bitcoins are not restricted
  • US States: California, Colorado, Florida, Illinois, Indiana, Kansas, Massachusetts, Michigan, Montana, New Mexico, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas
Coinmama Review
Speed
  • After verification is completed payments are processed instantly
  • Verification process takes from 2 to 24 hours
Limits
  • High limits for verified accounts
  • Credit Card - $5,000 or €5,000 daily and $20,000 or €20,000 monthly
  • Western Union - $5,000 or €5,000

 

Privacy
  • Full details are required to get account verified
  • Personal details must be provided for orders even less than $150
Security
  • SSL certificate
  • No additional security options (as long as they do not offer wallet or trading it is not necessary)
Pros
  • Services are provided in most countries
  • Very reputable broker (one of the longest working exchange)
  • Accepts Western Union
Cons
  • High fees
  • Poor privacy
  • Monthly limits could be higher
Conclusion

Great reputation of Coinmama makes it one of the most attractive Credit/Debit cards exchange online. However, high fees could be a bit lesser, in the other hand - purchasing with credit card is always an expensive way.

Furthermore, privacy could be better (sure we understand that credit card payments are risky as always).

Rating
8/10