Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.

We may receive compensation when you use Coinmama. This post contains affiliate links. Disclosure.

Pros
  • Service available in many countries
  • High limits for buying bitcoins with a credit/debit card
  • Fast and responsive customer service
Cons
  • High fees for buying with a credit/debit card
Buy Bitcoin at Coinmama

coinmama banner

Founded in 2013, Coinmama is one of the more established cryptocurrency platforms in the blockchain space. They have an experienced team and largely cater to a European clientele.

Some people hear that Coinmama is an exchange and they think that they can use Coinmama to trade cryptocurrencies. For example, switch from Ethereum to Bitcoin. This isn’t really the case however.

Coinmama doesn’t actually allow its clients to exchange cryptocurrencies. Instead, Coinmama is an onboarding platform, a great place to buy cryptocurrencies like Bitcoin, Cardano and Ethereum.

In fact, when you use Coinamam, you aren’t even trading with others users of the platform.

Coinmama sells cryptocurrencies out of its personal inventory. The transaction will always be between you and Coinmama.

It’s also possible to sell cryptocurrencies on Coinmama, however the payout can only be made via a SEPA bank transfer which is limited to European customers. More information can be found on Coinmama’s website.

Coinmama Compared

This table compares Coinmama to other popular exchanges.

  • Popular Exchanges
  • Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • "Instant Buy" option available with debit card
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Who Can Use Coinmama?

Whenever you’re evaluating a new cryptocurrency exchange it’s always important to ask if you can even use it in the first place. Due to cryptocurrency laws and regulations which change depending on which country you’re in, or which state, sometimes services are not available.

Coinmama is widely available throughout Europe. In fact any cryptocurrency trader or investor not living in any of the countries, US states, or territories below can use Coinmama.

Finally we come to the list of countries that cannot use Coinmama at all. Here is the list of restricted countries: Coinmama prohibited countries and states

  • Cuba
  • Crimea
  • Iran
  • Israel
  • Lebanon
  • North Korea
  • Palestinian Territories
  • South Sudan
  • Sudan
  • Syria

The following American states cannot use Coinmama:

The following American territories cannot use Coinmama

  • American Samoa
  • Guam
  • Northern Mariana Islands
  • Puerto Rico
  • United States Minor Outlying Islands
  • Virgin Islands

Buying Fees

coinmama fees

Buying cryptocurrency on Coinmama is pretty simple. You decide how much you want to buy and then Coinmama will give you a quote on that purchase.

Coinmama calculates fees as a percent of the spot price. Their commission is as high as 3.9% using SEPA bank transfers. If you use a credit card, they add a 5% “momentum fee”.

Keep in mind that if you use SWIFT, there is a minimum fee of £20 added onto all transfers of $1,000 USD or less.

For simplicity’s sake, you should just assume you will pay about 5% over spot price when using Coinmama. So for example, if one Bitcoin currently has a spot price of $10,000 then the cost to purchase it on Coinmama would be about $10,500.

That’s a fairly steep price especially when you consider the implication. In order to turn a profit you’ll need Bitcoin to go above $10,500.

Other trading platforms like Coinbase tend to charge a bit less than 5%, however their fees depend on what payment method you use.

Supported Coins

Traders who use the Coinmama platform can purchase:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Ethereum Classic
  • Ripple XRP
  • Cardano
  • Litecoin
  • QTUM

Deposit Methods

Coinmama will accept any fiat currency so long as it comes from one of the supported countries. However, being a Euro-centric platform Coinmama displays crypto prices using the following currencies:

  • USD
  • EUR
  • GBP
  • CAD
  • AUD

Buying With a Credit Card

Since Coinmama is a trusted and established exchange they’re definitely a great platform where you can buy crypto with a credit card.

One thing that you should look at before buying, however, is what price Coinmama is clearing the sale at. For instance, sometimes platforms will say that they only charge a small commission for purchasing crypto with a credit card but then they will give you a bad deal on price, I.e. $7,000 per Bitcoin rather than the $6,812 that it’s currently trading at.

That being said, Coinmama charges a 5% “momentum” fee to buy with a credit or debit card.

Coinmama Compared

This table compares Coinmama to other popular exchanges.


  • Popular Exchanges
  • Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • "Instant Buy" option available with debit card
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

KYC & Buying Limits

coinmama verification

As with most other legitimate exchanges Coinmama does have a mandatory KYC requirement. In order to buy cryptocurrency on their platform you’ll need to:

  • Create an account
  • Submit a copy of a government ID. That can be a driver’s license, passport or other national ID
  • Take a picture of yourself holding a piece of paper with the current date and “Coinmama” written large enough to be legible

Again, these are fairly standard KYC requirements that many cryptocurrency exchanges are now enforcing.

In most cases, Coinmama only takes about 15 mintues to verify your account, but in some cases it could take several day. It really depends on how busy their verification team isl.

If you arent willing to go through this verification, you can find out how to buy bitcoin without verificiation. Keep in mind that the amount you are able to buy is either much lower or the process to buying is more complicated if you go this route.

Level 1

Max lifetime buy of $15,000 and a daily buy limit of $5,000 for a credit card and $12,000 for a bank transfer.

coinmama level 1

Level 2

Max lifetime buy of $50,000 and a daily buy limit of $5,000 for a credit card and $30,000 for a bank transfer.

coinmama level 2

Level 3

Max lifetime buy of $1,000,000 and a daily buy limit of $7,500 for a credit card and $30,000 for a bank transfer.

There is also a minimum buy level on Coinmama of $50 USD or the equivalent in whichever currency you’re using to buy Bitcoin.

coinmama level 3

Security Record

coinmama security

Coinmama’s security record is interesting. They’ve never actually had any cryptocurrency stolen from the platform, which is good, but hackers were able to steal the personal data of nearly half a million customers.

The data beach happened early in 2019 and affected 450,000 accounts in all. Thankfully credit card information was not stolen but rather email addresses and passwords for Coinmama accounts. The theft was part of a larger attack which affected more than twenty websites and more than half a billion records.

Since Coinmama delivers bitcoin directly to your wallet, it’s very unlikely the exchange could get hacked and lose user funds in the process.

Not your keys, not your crypto. A hardware wallet like a Ledger Nano X or a Trezor Model T is always a great option for keeping your crypto safe.


COMPARISON

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $119

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $59

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $159

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $59

coinmama support

Coinmama Customer Support

Coinmama does not have a customer support phone number that traders can call nor do they list a physical location for their headquarters.

They do however have a customer support email address that people say is extremely helpful.

Coinmama Loyalty Program

If you plan on using Coinmama frequently you might want to consider signing up for their loyalty program.

Coinmama pays its clients back in lower commission fees as well as cryptocurrency bonuses. Currently there are three loyalty program levels.

Crypto Curious

Those just signing up for the platform, no discounts.

Crypto Enthusiasts

Frequent customers who purchase $5,000 or more worth of cryptocurrency in any given 90 day period. Crypto enthusiasts can save 12.5% on fees.

Crypto Believer

Anyone who purchases $18,000 or more over a 90 day period can qualify for a 25% reduction in fees. Also, once an investor purchases more than $50,000 worth of crypto on Coinmama they will automatically become a crypto believer for lifetime.

Coinmama Affiliate Program

In addition to the loyalty program Coinmama also offers an affiliate program.

If a new trader signs up using your affiliate link you can earn 15% of the commission! Here is an example taken directly from Coinmama’s website.

“If your referred client bought 1,000 USD worth of BTC and Coinmama earned 55 USD in commission, you will receive 8.25 USD. This happens every time they buy!”

Conclusion

Coinmama fills a specific niche in the cryptocurrency industry; it’s a platform designed almost exclusively for the buying and selling of crypto, boasting lots of options and features.

coinmama features

If you need a simple, intuitive platform with good customer service to buy crypto on then Coinmama may be the perfect fit. They have a good safety record and have been around for seven years which is a long time in the cryptocurrency ecosystem.

And, perhaps most importantly, Coinmama’s biggest advantage is that it is a non-custodial platform. That means they don’t hold onto their customer’s cryptocurrency. This is important because it forces traders to store their crypto off of the exchange.

Coinmama is already widely available throughout the world and as long as you don’t live in a restricted area you can register for an account now. Even if you don’t plan on buying Bitcoin at this moment, there’s no harm in opening an account in case you change your mind later on.

Coinmama Compared

This table compares Coinmama to other popular exchanges.

  • Popular Exchanges
  • Coinbase
    • High liquidity and buying limits
    • Easy way for newcomers to get bitcoins
    • "Instant Buy" option available with debit card
  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk.

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Rating: 4.6

Buy Bitcoin at Coinmama

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