9 Best Sites to Buy Bitcoin in USA

9 Best Sites to Buy Bitcoin in USA

After completing the payment information, enter your wallet address then click ‘Complete Payment’. In the example below you can see that you enter the fiat currency amount and Coinmama automatically shows how much Bitcoin (BTC) you will get for that purchase. Multiple crypto wallets are available, so research online if you don’t wish to use the above options or check the best crypto hardware wallets of 2024.

Coinmama is an established, straightforward cryptocurrency exchange. It supports a small number of digital assets and doesn’t offer a dedicated crypto wallet. Those looking for a crypto exchange with lots of tools and products may want to look elsewhere.

Trade Experience

So, in the given example above, for every $1000 worth of Bitcoin purchase, there will be a $55 fee. Please also note that other fees like if you’ll use your credit card, CA and FOREX conversion (if applicable) are not yet accounted for. While the ability to use credit or debit cards to buy crypto is convenient, it’s not cheap. You can get around this fee by using direct bank transfers which Coinmama doesn’t charge any additional fees for. The fee charged by Coinnmama for buying and selling crypto is far higher than most other crypto exchanges.

Customer Support

As you might have already noticed in this Coinmama review, this exchange is setting itself apart from the rest in many respects, this one included. As a peer-to-peer exchange, Coinmama brokers deals directly between buyers looking to purchase crypto with fiat currency and sellers looking to sell their crypto for fiat currency. While some customers have complained about this verification process, it is an important part of Coinmama’s broader commitment to security. It’s also standard practice for any exchange that complies with Anti-Money Laundering laws. When you buy, your coins are transferred to your wallet within the hour. When you sell, the USD or EUR cash is deposited directly into your bank account.

This is unfortunate, as discovery tools are valuable for crypto beginners to explore and identify the coins that best suit their needs. The exchange doesn’t have some security features you’d find on other exchanges, like proof of reserves or a bug bounty. Still, in my opinion, they’re not as needed since they don’t hold crypto for users. The platform follows AML and other regulatory requirements to keep things compliant across its operating regions.

Coinmama Loyalty Program

However, the platform does apply various fees for buying or selling cryptocurrency. If you’re ok with buying and selling coins directly from Coinmama, it offers a lot of benefits. You get instant coin delivery, multiple payment options, and high spending limits.

• Instead, they normally ask you to deposit using another cryptocurrency (such as Ethereum) that you obviously can’t do if you don’t have any!
• Quick and painless transaction once you get past the initial verification process.
• Customers are also encouraged to enable two-factor authentication, though it isn’t required.
• They describe the platform as the “friendliest exchange in the world”, and the team page only lists first names, which is a nice touch.
• Coinmama is a simple platform for buying and selling cryptocurrency directly to and from third-party wallets.

Unfortunately in 2019 the company announced that 450,000 email addresses and hash passwords were stolen. Especially if you use one of these more expensive payment methods. You will have to factor in the exchange fees and the deposit method fees. You can also transfer larger sums of money by using bank transfer.

Credit Card Purchases

• In addition to its customer support options, Coinmama also has a help center where users can find answers to common questions about account management, fees, and more.
• Information, including rates and fees, is accurate as of the publishing date and has not been provided or endorsed by the advertiser.
• The initial sign-up process requires that a user enter an email and password.
• Double-check that you have entered the correct information or it may delay the process!
• Coinmama fees are higher than Coinbase, which is another very reputable exchange.
• However, it stands out in fiat currency support, offering nearly 50 options for buying crypto, though only GBP, EUR, and USD are available for cashing out.

The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). Coinmama is one of the best cryptocurrency exchanges for quickly and easily buying popular crypto coins. Before you decide on using Coinmama, research other platforms to determine whether another might better meet your needs. Then you will go through the verification process, uploading an identifying document and a selfie.

However, Kraken does offer futures trading and other advanced services. Additionally, Kraken’s fees are generally lower than what you see at Coinmama. The primary benefit of Coinmama is that it’s simple to use. It’s straightforward, which allows you to purchase cryptocurrencies using fiat currency.

Credit card or debit card is the most popular method of payment. Compared to Coinmama, Coinbase is a much more robust coinmama review platform. It offers access to over a hundred coins and tokens and charges significantly lower fees. It’s also an industry leader in platform security and trading tools.

To clarify you can either use a trading platform or exchange to buy and sell cryptocurrency. However trading platforms are much more complex to use than exchanges. As a result it is considered a veteran cryptocurrency exchange.

How truthful are the negative feedbacks

I have tried contacting support 8 times now for them to investigate and no one replies so my money is lost and my bill remains unpaid. Coinmama was established in 2013 and has served almost four million customers around the world. The company is headquartered in Ireland, and it was founded by Nimrod Gruber, Laurence Newman, and Ilan Schuster.