Coinmama – Buy and Sell Cryptocurrency Online
Are you thinking about investing in cryptocurrency? There are many things you have to know before trading the crypto. First, you should know about what is cryptocurrency. Like the other currency, it is also used to buy products and services. Buy and Sell Bitcoin with Coinmama in which you have to make use of the cryptography for safe transactions online. It is possible to transfer cryptocurrency without using it back. Bitcoin is one of the popular and well-known cryptocurrency, and there are many new ones that are continuing to be created. You can buy it using your credit card with the help of the mining process.
The best exchange platform
Deciding on which exchange platform is quite a daunting process. There are plenty of options available to you. But the most popular and reputed cryptocurrency exchange platform is Coinmama. It is created in the year 2013, which is offering a safe and fast way of buying or selling digital currency. It is one of the great places to buy or sell digital currencies such as Bitcoin, Ethereum, and more. If you need to sell those currencies, the pay-out will be done with the help of SEPA bank transfer, and it is limited to the European clients.
Registering your account
If you need to open an account in Coinmama, first, you have to go to the official website. On the home page, you will be having a variety of options. In that, you have to choose the ‘Sign Up’ tab. You have to give some necessary information which is requested by them, which includes name, mail, password, and the country. After creating the account, you will have the verification process. For the KYC process, you are in need of a government proof id and photo. Then you have to confirm the process using the confirmation link which is sent to the mail address. This is all about the registration and verification process.
Verification process timing
When comparing with the other cryptocurrency exchange platform, Coinmama will be the fastest verification process. It took nearly ten minutes for the first level verification process. But other exchange platforms will be taking from one day to a maximum of three days. The second and third levels will be taking for about six hours, but it is quite fast when compared with others.
Coinmama wallets
You will not get a wallet on the exchange while you are using the Coinmama platform. After completing the purchase of the crypto, the purchased coins will be sent to the external wallet of the user. For that, users need to provide their information about their wallets during the process of the transaction. In case if the user does not have any crypto wallets, the Coinmama platform will offer the users with the QR code as well as the link to download Zeno.
Supported cryptocurrency coins in the Coinmama
The traders who will be using this exchange platform can able to purchase the below crypto coins, and they are,
- Bitcoin
- Ethereum
- Bitcoin cash
- Ethereum Classic
- Cardano
- Ripple XRP
- Litecoin
- QTUM
- Tezos
Buying coins
Since it is one of the trusted and best exchange platforms, one can buy crypto without hesitation. One thing you have to keep in mind before buying is that the price of the Coinmama. You should know that what exact price this platform is clearing for the sales. Some of the platforms will say that they will be charging a small commission amount in order to purchase crypto. But the fact is they will be giving you a bad deal at a high price.
Guide for buying crypto
First, you have to visit the official site of Coinmama. If you have already completed the verification process, you can directly use your account for buying coins. In case if you do not have an account, first, you should create your account and then proceed further. After logging in using your account, you have to choose the thing whether you need to buy EUR or USD. After picking the required option, it will show the transaction fee, which is totally depending on the coins amount you need to buy. Then choose the option which suits your need. Once after the payment is confirmed, you will be getting your coins instantly in your wallet.
For selling Crypto
If you need to sell the Crypto, you have to click on the icon ‘Sell,’ which is available at the top of the page. Then, you have to enter the number of coins you have to sell. Then click the icon ‘Sell.’ It will allow you to send those coins you want to sell to the wallet address provided. Once the Coinmama platform receives the coins, the process of the transaction will be carried out, and then funds are added to your bank account.
Loyalty programs of Coinmama
If you are going to buy or sell more and more crypto using this platform, it will help you to save more and more. Buy and Sell Bitcoin with Coinmama this platform, you will have three savings levels. You should meet a certain purchase amount over the period of 90 days, which is three months of starting your account if you need to promote to the higher level. Here are the three levels of loyalty program for the users and they are as follows,
Level 1 – Crypto Curious
It is for the newly joined users. At this level, no discounts will be available for the users.
Level 2 – Crypto Enthusiast
For attaining this level, you have to purchase for the amount of five thousand USD in the ninety rolling period days. At this level, you are not only enjoying the reduced fees but also you can track the customer support fast. In addition to that, you can save up to 12.5 percent of the fees.
Level 3 – Crypto Believer
This level can be attained if you are purchasing over 18000 USD over a period of three months. You will be getting 25 percent reduced fees as well. And you can enjoy customer support without waiting. As an investor, if you have completed the purchase of above 50000 USD, you will become a Crypto believer for a lifetime.
Charges and fees in Coinmama
For buying:
The price of Crypto in this platform is shown based on the service known as TradeBlock XBX. This service will be listing an average of the rates of the known provider. The fee here is based on the payment method as well as a loyalty program.
- You will be charged a commission fee of about 3.9%.
- The fees might be vary depending on the method of payment.
- If your transaction takes place with instant delivery and locked crypto, you will be having some additional momentum fee of about 5%.
- In case if your orders are taking place using bank transfers, it should not contain any additional fees or momentum fees.
- When you are using the SWIFT bank, the order amount should be a minimum of 1000 USD. Or else, they will charge 20 GBP for those who need to make an order below 1000 USD.
For selling:
Selling fees and the charge will be based on the loyalty programs of Coinmama, and it includes the following,
- For the Level 1 Crypto curios, you will be charged with about 2.9%.
- For the Level 2 Crypto enthusiasts, the charge will be 2.5%.
- For level 3 Crypto believers, the fees of about 2.1% will be charged.
Advantages of using Coinmama
If you are using this exchange platform, then you can avail the certain benefits, and they are as follows,
Payment method:
The most annoying part of buying digital currency is that many of the platforms will not allow people to make use of fiat money. Rather than using fiat money, they ask you to provide funds using other cryptocurrencies. But when you are using Coinmama, you can buy the cryptocurrency using your debit card or credit card directly from the website itself.
Receiving your coins instantly
Once after entering your card details on the site and make a purchase, the coins will be sent to the private wallet of yours immediately. It is considered to be the secured option for you.
User-friendly website
If you are a beginner and searching for the best platform, then Coinmama helps you to ease all the process. Many of the exchange platforms will typically confuse customers by creating a lot of statistics, graphs, and more. But with Coinmama, the process is really simple.
Improved security
There are many exchange platforms that are not regulated by any of the government departments. You can face many fraudulent activities in such sites. Coinmama is the platform which is registered with the Financial Crimes Enforcement Network in the United States. So, it is one of the reputed and reliable platforms.
Caring support team
If you are facing any problem regarding your account, then the customer support team will immediately take action and helps you to solve the issue. You can contact them using live chat. You can even connect them via email and Facebook.
Closing Thoughts
Coinmama is one of the best and user-friendly cryptocurrency exchange platform in which it allows users to Buy and Sell Bitcoin with Coinmama. If you are in need of a simple and supportive exchange platform that is having a great customer care support services for buying or selling the crypto, then Coinmama will be the best solution for meeting all your needs. They are having a great record of safety, and they are running for around seven years. This platform is available all over the world. One of the biggest advantages of using this platform is Coinmama is a non-custodial one. This means that they do not hold into the cryptocurrency of their customers. Stay safe by using the Coinmama platform!!!