Coinmama Affiliate / Referral Program

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Coinmama

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Buy Bitcoins with Credit Card & Cash

Buy Crypto Currencies

Crypto currencies are volatile products, which often exhibit high fluctuations in very short periods of time. They are therefore not suitable for all investors. In contrast to CFDs, crypto trading is not regulated and is not subject to regulatory EU directives.

If you want to buy Bitcoins conveniently, easily and uncomplicatedly via your credit card, you should take a closer look at Coinmama’s offer in advance. First of all, of course, you have to answer various questions: How high are the Coinmama Fees, are there Coinmama experiences on the Internet, which sometimes also allow a look behind the scenes and is the provider serious or should one better look for a Coinmama alternative, because there are various indications that the promises made by the provider can not be kept.

Of course, the question also arises as to whether Coinmama is a fraud. Because again and again you come across reports from crypto marketplaces on the Internet as well as from stock exchanges that allegedly play with zinc-plated cards. Is this also the case here?

The fact is: Coinmama is a classic Bitcoin broker who has been on the market for several years and is based in Slovakia – more precisely in Bratislava. Besides the mother of all crypto currencies, the Bitcoin, you can also buy Ethereum (short: ETH). The purchase takes place either over euro or US dollar – thus by means of Fiatwährung. Please note at this point that you can only buy via Coinmama – a sale is not possible.

The offer

Crypto currencies or even digital currencies – including Bitcoin (BTC), Monero (XMR), Ethereum or Litecoin (LTC) – are currencies whose transactions and payment flows are not regulated or influenced by financial institutions, such as central banks, or by government measures, such as governments. This is also the reason why it is possible that transactions can be made between two users – there is no longer a link that is, for example, the bank in fiat currencies. The cost of the transaction is just a few cents. In addition, the transactions are completed within minutes.

Crypto currencies, such as the Bitcoin, can be purchased and resold via various online platforms, including Coinmama. Platforms such as Coinmama are also often referred to as stock exchanges.

Coinmama Features

Due to the fact that there are so many providers today, you should be careful. Not every provider who provides trading in crypto currencies is serious – there are also “black sheep” who want to take money out of the pockets of ignorant traders. But how do you recognize platforms that pursue fraudulent intentions? It is important to start by looking at the test results of independent portals and sometimes looking for reports of experience. Anyone who searches the Internet for experience reports will get an overview of how the platform works relatively quickly.

Tips for buying Bitcoins via Coinmama

So is dealing with the Coinmama Exchange. If you want to buy Bitcoin via Coinmama, you should take a look at the Coinmama experiences beforehand. In the internet you can find reports from traders, who then report whether it is a recommendable provider, what should be paid attention to and whether there are sometimes dark sides, which should not be ignored.

First of all: Coinmama is not a classic stock exchange – this is about a broker who offers the possibility to buy Bitcoin. The sale of Bitcoin is not supported. So if you are looking for a platform – or rather a stock exchange – to buy crypto currencies and then (profitably) sell them again, you should look for a Coinmama alternative.
The Coinmama Crypto Currencies

In the beginning you could only buy the crypto currency Bitcoin via Coinmama. Today a wider range is available. The following crypto currencies can be purchased on Coinmama:

Bitcoin
bitcoin cash
cardano
ethereum
Ethereum Classic
litecoin
QTUM
ripple

Please note that the crypto currencies can only be bought and not sold.

The functions

Coinmama is a classic marketplace for digital currencies. Here users can easily buy crypto currencies such as Bitcoin or Ethereum with their credit card.

At this point it should be mentioned that the broker does not provide his own wallet. This means that if you want to buy Bitcoin coins via Coinmama, you have to make sure that you already have a digital wallet. Here, too, there are different offers, so it is advisable to make a comparison in advance.

Furthermore, Coinmama does not offer any services in the area of money transfer or invoice payment. Also Coinmama cannot sell Coins – here you can only buy, so this is not a stock exchange, but a pure market place. So if you buy coins and want to sell them again directly through Coinmama, you should look for an alternative – this process is not possible here.

Open an account with Coinmama

If you want to buy Bitcoin or Ethereum on Coinmama, you first have to register on the site. The registration won’t be a big challenge even for beginners. The operators of Coinmama have paid very much attention to the fact that also all those users are addressed, who could not gain experience with cryptomarket places yet. That means: The registration on the site is not complicated and done within minutes – also the Coinmama test showed that there are no traps or other pitfalls which have to be considered in the course of the registration.

At the beginning, the user must enter the personal data: First name, surname and e-mail address – the user can then choose a self-generated password. The country in which the user is located must also be specified during registration.

If one deals with the acquisition of crypto currencies on Coinmama, then one will notice at the beginning that there are so-called verification stages. This means that the purchase limit depends on the means of identification provided. Once the account has been verified, it is possible to make daily purchases of around 5,000 US dollars. The monthly limit is 20,000 US dollars.

As already mentioned, Coinmama is available in 226 countries. Thus Coinmama is also one of the largest market places for crypto currencies, if it concerns the surface covering of the offer.

Verification level 1 – If you want to reach level 1 status, you must provide your personal data – such as your first and last name, date of birth, address, telephone number, e-mail address – and subsequently make a photocopy of an identity document (identity card, driving licence or passport), which is then sent to the company. The employee checks the data and, if there are no discrepancies, raises the purchase limit to 10,000 US dollars.
Verification level 2 – Level 2 is especially interesting for those customers who want to buy crypto currencies worth more than 10,000 US dollars – the monthly limit here is 50,000 US dollars. Personal data – such as first and last name, date of birth, address, telephone number and e-mail address – must also be provided. In addition, an identity document must also be transmitted. The difference to level 1? You have to hold up a picture of yourself and also point a document into the camera.
Verification level 3 – Verification level 3 is intended for people who do not want to stick to a limit. This means that unlimited purchase of crypto currencies is possible. So there are no purchase limits. At present, however, the company does not provide any information as to which requirements must be met by the customers. If you are aiming for an account without limits, you should contact the help desk in advance.

Coinmama: advantages and disadvantages

The different verification levels show that one wants to address beginners on the one hand, but on the other hand also professionals who do not want to be restricted by any limit. Moreover, Coinmama convinces with an extremely user-friendly platform, supports the purchase by credit card and shows the customers clearly how the fees are.

The disadvantages already begin when it comes to Coinmama fees. Compared to other marketplaces, the fees are relatively high. In addition, there are always problems in reaching the customer support – often the servers just go on strike, so you need some patience. The fact that 2-factor authentication is only possible with e-mail cannot be seen as an advantage either.

The Coinmama Payment Methods

While only Western Union was possible years ago, Coinmama now accepts several payment methods. The customer can make payments with his credit or debit card. The two credit cards Visa and MasterCard are accepted. Payments made with MasterCard or Visa are supported by the Simplex payment processor. The option of buying crypto currencies with cash is still available – payments can be made here via Western Union. Please note that the bank account cannot be linked to the platform.

What about security?

First of all: The company is located in Bratislava, Slovakia – that means Coinmama is located in the European Union. Behind the market square is the company NBV International s.r.o – a subsidiary of New Bit Ventures Ltd. This company is registered with FinCEN (Financial Crimes Enforcement Network). The company was founded in 2013 and its parent company – New Bit Ventures Ltd. – is based in Israel. The platform is currently available in 226 countries – including the USA. This is also the reason why payments can be made in all local currencies.

Coinmama has been around for several years – anyone who is interested in crypto currencies will surely have come across the offer of the crypto marketplace. Even then, when it comes to Coinmama experiences that can be found on the Internet, the provider can convince.

In addition, there is also a 2-factor authentication – even if this is only possible by e-mail, this circumstance can still be evaluated as positive with regard to the security precautions.

Coinmama Customer Service

A chat is provided on the homepage – there is also a help desk and the possibility to contact us by e-mail. Please note at this point that there is no telephone support. All telephone numbers found on the Internet should not be called – they are not connected to the provider. Anyone calling such a number must assume that there are fraudsters on the other line. If you have a problem, you should use the live chat or the contact form.

What are the fees for Coinmama?

Of course, it is also a matter of how the Coinmama Fees are handled. If you put your money into crypto currencies, you don’t want to put high amounts into fees. Of course, every purchase causes fees – but first and foremost it is a question of how high these actually are. The fees at Coinmama are quite clear, there is only one deposit fee for credit card payment. All other deposits and withdrawals are free of charge. But Coinmama is quite good with the trading fees, 5.9% per trade is one of the highest fee rates of all tested Exchanges.

Anyone who deals with the experience reports that can be easily found on the World Wide Web will quickly come to the conclusion that there is almost only positive feedback. So Coinmama seems to think that at least many customers are of the opinion that it is an interesting and promising platform – there are no serious hints or experience reports that would speak against Coinmama.

Is Coinmama a fraud?

From time to time, however, you come across a few reports that sometimes suggest that Coinmama is Scam. Before that, the word “scam” has to be taken under the microscope – sometimes one speaks of scam when the verification takes too long or high fees have to be paid. Fact is: Even if the fees are higher than with other providers, it cannot be said that Coinmama is Scam or even fraud – there are extremely many indications that a serious offer is provided here.

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Coinmama Affiliate / Referral Program – 6 Total Ratings with 3.12/5 possible Rating Points. coinmama.com