Are there fixed fees, transaction fees, or other fees?
Is the website safe and your information secure? Have there been previous breaches in security?
How many coins are available to trade?
|Ease of Use?
How good is the overall experience? Is it easy to buy/sell tokens, view funds, and see market movements?
All the Bitcoin or Ethereum that you buy using Coinmama is highly secured because the coins are transferred directly from the company’s own holdings. This makes Coinmama much more secure than other exchanges. Another side note, Coinmama does not store your credit or debit card information on their servers.
Coinmamas fees are very high. Per transaction you are charged with a 5.50% fee. That’s not all, Coinmama also charges an additional 5% fee if you use your debit or credit card and you might be also charged a Cash Advance fee if the bank views the transaction as a cash transaction. If you’re looking for a low fee exchange this is not the one for you.
Only sells BTC and ETH
Ease of Use
You don’t need to verify your identity to buy on Coinmama but you’re limited to purchase up to $150 worth of cryptocurrency. However, once you get verified (takes less than 10 minutes) you can buy more. The overall interface of Coinmama is pretty easy to use but the downside is you can only buy BTC or ETH and that’s it. You can’t even trade the coins with others or sell the coins back to Coinmama.
Overall, Coinmama is just ok. If you’re looking to make a one time purchase of some Bitcoin and Ethereum just for fun, and you plan on holding it for a long time, then Coinmama might be the best fit for you. However, a lot of people want a platform that allows them to buy, sell, and trade many different coins to grow their earnings. If you’re that type of person then you’ll want to look elsewhere.