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Coinmama Assessment: Analyzing If It Is Safe & Reliable?

Coinmama Assessment: Analyzing If It Is Safe & Reliable?

Do you know there are more than 190 cryptocurrency exchanges and providers within the crypto house proper now? You read that right. More than one hundred ninety!

Nevertheless, despite that, we undergo from poor trade volumes, latency, and unreliable companies to quench the thirst of crypto-investors. Moreover, we additionally battle to buy popular cryptos like BTC & ETH, which isn't a pretty experience.

And that my associates, is where companies like Coinmama come to the rescue, bringing something new to the table.

Coinmama is a venture of NBV International that is registered in Slovakia but currently operates from Israel.

It's a centralized service with a large person base of over a million happy customers. The big user base is a result of the number of nations it helps worldwide – over 180!

One of many USPs of Coinmama is the fast, safe, and safe service it provides for getting cryptocurrencies like BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA through credit cards. They not too long ago added an option to promote Bitcoin for Clients in the 37 European nations which are part of SEPA (Single Euro Funds Area).

Also, in contrast to other exchange/companies, Coinmama doesn’t have an inbuilt BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA wallet. This means in the event you wish to buy BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA from Coinmama, it's best to already have a BTC, ETH, LTC, BCH, ETC, XRP, QTUM, ADA wallet and this is an effective means of encouraging investors to have a secured wallet within the first place before buying the coins.

Should you don’t have a safe Bitcoin or Ethereum wallet, pick one from our list of Ethereum wallets and Bitcoin wallets.

Coinmama Registration, Login, and Purchase Limits
Coinmama’s registration process is quite straightforward. To get began, you have to register utilizing your electronic mail ID following which you can be requested to submit some documents to show your identity. The more documentation you present, the more foreign money you should buy on Coinmama.

After you register, you possibly can log in utilizing your electronic mail ID and password the place it's best to, and MUST, setup your 2FA and SMS authentication (highly advisable) for extra security.

To verify your Coinmama account, head over to your account web page and coinnama click on on "Confirm my account" on the left of your screen.

You'll then be required to upload a sound authorities ID for various ranges of access and buying limits.

Coinmama verification time
The verification time is 10 minutes for stage 1. Nonetheless, for level 2 and stage 3 it may take as much as 6 hours for the verification. After stage 1 verification, you can begin using Coinmama.

Coinmama Purchase limit:
Degree 1 (limit up to USD 15,000): Requires a sound government issued ID, a selfie of your self holding that ID, a note with "Coinmama" and the date written on it. Settle forable paperwork are:

An international non-US passport (double page)
Nationwide ID card (each sides)
Driver’s license (both sides)
Degree 2 (limit up to USD 50,000): Apart from Stage 1, it requires you to upload a utility bill. Accepted utility bills embrace electric, cable, gas, water bills, property tax, bank statements or credit card statements (paper invoice or internet bills aren't accepted).

Degree three (restrict up to USD one hundred,000): Requires filling a brief form and contacting personally.

Coinmama Person Interface

Coinmama interface is fairly modern and minimalistic. As you log in, you can be greeted with a dashboard like this

Coinmama Fees Construction
Coinmama Charge: Coinmama’s credit/debit card processor, charges a 5% additional payment (with a minimum cap of USD 10) on every transaction. Only Visa/MasterCard are currently supported. You can too pay by way of SEPA which doesn’t encurr such fees.

Bank switch fees: Coinmama helps SEPA bank transfers and expenses 0.00% fees.

Coinmama Supported Nations
The one thing highlighted within the introduction additionally that Coinmama helps a variety of international locations – 188 to be precise – essentially the most by any other crypto service/exchange. To check if they supply service in your country, go to here.