Since they are registered as a financial service, Coinmama have committed to the highest security standards. They verify accounts thoroughly to keep customers safe and combat fraud. Even though customer cryptos are not kept on the exchange the company still got hacked. Unfortunately in 2019 the company announced that 450,000 email addresses and hash passwords were stolen.
- Some new customers had to resubmit identifying information more than once in order to confirm their identity.
- However, it depends on how fast the payment is processed.
- Coinmama does indeed have a KYC verification program that investors will need to complete before they can purchase cryptocurrencies on their platform.
- Together with offering amongst the highest daily buying limits in the industry, it justifies its global reach of more than 188 countries.
Coinmama Reviews
Cole Tretheway is a full-time personal finance writer whose articles have been featured on The Ascent and The Motley Fool. He has a degree in English with a Certificate in Professional and Technical Communication from California Polytechnic University, SLO. For more details about the categories considered when rating brokers and our process, read our full methodology. Regardless of your choice, understand that investing in cryptocurrencies like bitcoin is highly speculative and known for its volatility. It’s wise to never invest any more than you can afford to lose.
I’m a beginner in the bitcoin land
Founded in 2013, Coinmama has been a long-time choice for consumers wanting a fast way to purchase cryptocurrency via credit/debit card. The company was the first to offer this Coinmama Review method of payment and have grown rapidly as a result of this accessibility. The site is available for almost everyone, serving 226 countries and the majority of U.S. states.
Coinmama Review 2023: Pros & Cons – Is it Right for You?
The details provided by new customers are checked manually and can take anywhere from 30 minutes to a few hours to be confirmed. Coinmama is one of the few exchanges supported almost worldwide. The platform is available in over 188 countries around the globe. Users from accepted countries, including Australia, Singapore, Europe, the UK, Canada, New Zealand, and the US, can quickly and safely purchase cryptocurrency using Coinmama. However, there are a few restricted states and territories within the US, including New York and Hawaii. Coinmama is GDPR compliant, and all personal information and documentation is encrypted.
- In order to purchase from Coinmama, users in non-sanctioned countries need a VISA or MasterCard issued in such countries.
- It makes sense that no cryptocurrency was stolen from Coinmama.
- Coinmama offers you the choice of continuing with your desktop or switching to your mobile phone.
- Understanding how to transfer funds from Coinmama to a crypto wallet is a key component to using the platform.
- Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions.
