Coinmama

What is Coinmama?

Coinmama is a reputable and user-friendly cryptocurrency exchange. Different from other exchanges that offer a wide variety of products and services, Coinmama is a fundamental exchange that could be suitable for beginner crypto traders with wallets based on other websites.

While stocking a limited number of digital resources, Coinmama does not provide a tailor-made crypto wallet. You should look elsewhere if you’re searching for an exchange with plenty of features and advantages.

Who Created Coinmama?

Coinmama was founded by Nimrod Gruber, Ilan Schuster, and Laurence Newman.

Who Owns Coinmama?

New Bit Ventures formally owned Coinmama. However, on Mar 24, 2022, Coinmama was acquired by Wellfield Technologies for $40M.

Is Coinmama Legit?

Yes, Coinmama is a legitimate cryptocurrency exchange operating since 2013. Coinmama is undeniably reliable and secure. Except for a small number of cases, it is a respected firm that furnishes brokerage services to customers in nearly all countries.

Coinmama Customer Service

There are numerous means of connecting with Coinmama’s customer service.

• Their webpage has an online assistance ticket system that you can employ to submit requests.
• On top of that, you can shoot an email to their customer service team at support@coinmama.com.
• Moreover, Coinmama supplies customer service through its social media outlets, comprising Facebook and Twitter.

How to’s of Coinmama

The following are some fundamental instructions for utilizing Coinmama:

How to Use Coinmama

1. Register for an Account:

To begin using Coinmama, you must sign up for an account by supplying your email address and creating a password.

2. Complete Verification:

You must go through the verification procedure before making any bitcoin purchases or sales on Coinmama. Selfies and government-issued IDs are required for identity verification, along with other personal details.

5. Sell Cryptocurrency:

For cryptocurrency deals, Coinmama necessitates a validated account and banking details. After selecting the cryptocurrency, you wish to sell and entering the return rate, pursue the instructions on display.

6. Transfer Cryptocurrency:

Pick the cryptocurrency you’d like to send, enter the recipient’s wallet address, and then follow the directions on the screen to finish the transaction.

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How to Buy Crypto on Coinmama

Once you’ve registered, follow these guidelines to buy cryptocurrencies on Coinmama:

1. Choose a Cryptocurrency:

Upon signing in to your Coinmama account, pick the preferred cryptocurrency from the accessible possibilities.

2. Enter Purchase Details:

Pick an appropriate form of payment and specify the quantity of crypto you want to buy. Coinmama accepts credit/debit cards, bank transfers, Apple Pay, and other money-sending solutions.

3. Complete the Transaction:

All you have to do is comply with the on-screen prompts, which may include entering your payment information. After successful payment processing, your Coinmama wallet will be credited with the purchased coin immediately. After that, you can either store the bitcoin outside Coinmama or in your own Coinmama wallet.

Coinmama’s specific buying stages and processes may change depending on the cryptocurrency you wish to purchase or sell and your payment method.

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How to Purchase Bitcoin on Coinmama

• Coinmama requires verified accounts to buy Bitcoin. Choose a payment method afterward. Coinmama accepts Apple Pay, credit cards, and bank transfers. After choosing your payment option, Coinmama lets you buy Bitcoin.
• Choose Bitcoin and enter the amount you want to buy. Coinmama requires a minimum of $50 to buy Bitcoin. After entering the amount, examine your transaction details and confirm your purchase.
• Coinmama sends Bitcoin to your wallet after payment. You’ll need a Bitcoin wallet to receive and keep Bitcoin since Coinmama doesn’t supply one. Use the hardware, software, or an online wallet.

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How to Buy Ethereum on Coinmama

• On Coinmama, you must initially sign up, choose your favored payment system, and select Ethereum from the available cryptocurrencies.
• After you have accomplished your acquisition, you must provide an Ethereum wallet address to receive your Ethereum.
• Coinmama will transfer the Ethereum to your wallet when the payment has been successfully concluded.

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How to Deposit on Coinmama

• Login to Coinmama to deposit funds. After logging in, select “Purchase” on the top menu and choose your cryptocurrency.
• Choose a deposit payment method. Coinmama accepts bank transfers, credit/debit cards, and e-wallets. Check deposit limitations and costs before choosing a payment method. Enter your deposit amount and confirm.
• Next, follow the payment processor’s deposit instructions. After deposit confirmation, you can buy cryptocurrencies on Coinmama or withdraw cash to your wallet or bank account.

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How to Sell on Coinmama

On their website, Coinmama does not facilitate the direct sale of cryptocurrencies. Transfer your cryptocurrency to an outlet or wallet that permits transactions if you want to sell it. Afterward, you can exchange your crypto on this website for cash or other cryptocurrencies. You can deposit the revenue from the sale of your cryptocurrency into a personal or bank account.

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How to Earn Money on Coinmama

Buy and hold rising cryptocurrencies on Coinmama to make money. HODLing—”Hold On for Dear Life”—is this tactic.

Cryptocurrencies are hazardous and volatile, so do your research and invest only what you can afford to lose.

Coinmama also allows cryptocurrency trading. Buy low, sell high to profit from price swings. Trading needs a lot of information, skills, and experience, and risk management is crucial to avoid large losses.

Finally, Coinmama offers an affiliate program. Referring new users to the platform earns affiliates a commission. Coinmama offers tools to promote its services and track referrals.

Pros and Cons of Coinmama

The following are some possible advantages and disadvantages of utilizing Coinmama:

What Coins does Coinmama Support?

Coinmama has a limited range of digital assets to buy compared to other cryptocurrency exchanges, which boast an extensive range. At this time, they only have nine cryptocurrencies available: Bitcoin (BTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Cardano (ADA), Ethereum (ETH), Ripple (XRP), Ethereum Classic (ETC), Litecoin (LTC), and Tezos (XTZ).

FAQs