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Coinmama Review

Headquartered and registered in Ireland, Coinmama is a beginner-friendly platform that enables users to buy and sell crypto without hassle. However, the platform’s lack of features and high fees could cause issues for some.

Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for educational purposes only. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Our Take

3.7 / 5
HedgewithCrypto Score We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.

Bottom line:

Coinmama is a well-known fiat to crypto currency exchange that has become popular in the industry. While the platform has found itself in hot water for past security breaches, the Coinmama team has worked hard to improve its security.

While Coinmama makes it simple to buy and sell cryptocurrency, there is a lack of advanced features on the platform. As such, anyone looking for features like margin trading, staking, or copy trading will need to find another cryptocurrency exchange. However, despite the higher-than-average fees, Coinmama is a viable platform for beginners looking for a safe way to buy cryptocurrencies.

  • Trading Fees:

    0.9% to 3.90%

  • Currency:


  • Country:

    Global (US Allowed)

  • Promotion:

    None available at this time

Pros and cons

  • Exchange available worldwide (including USA)
  • Multiple payment options
  • Highly suitable for beginners
  • Non-custodial exchange
  • Limited to 16 cryptocurrencies
  • Customers can only sell Bitcoin back
  • Trading fees are very expensive
  • Lack of features

Pros Explained

  • Exchange available worldwide. Accessibility is crucial for any platform that enables people to buy and sell crypto. Coinmama is available in 188 countries worldwide, including the US, making it one of the widest-reaching platforms on the market.
  • Multiple payment options. Coinmama offers support for buying Bitcoin with a credit card, debit card, bank transfers, and e-wallets. Furthermore, with support for USD, GBP, EUR, CAD, and AUD, users can easily buy and sell various assets in their local currency.
  • Highly suitable for beginners. For people new to the space, the terminology and the vast number of products can make things difficult for beginners. However, Coinmama takes a no-frills approach that is ideal for new investors.
  • Non-custodial exchange. Security is paramount for any service that deals with finances. As a non-custodial platform, Coinmama has no control over user funds, providing greater safety for its users.

Cons Explained

  • Limited to 16 cryptocurrencies. Thousands of crypto assets are available, with more released daily. Unfortunately, Coinmama only allows users to purchase 16 different cryptos, a tiny fraction compared to larger platforms like Binance. As such, users who like to diversify may struggle with Coinmama.
  • Customers can only sell Bitcoin. Although Coinmama allows users to buy 16 cryptocurrencies, customers can only sell Bitcoin. Unfortunately, this drastically reduces the viability of Coinmama as a crypto-to-fiat gateway.
  • Trading fees are very expensive. While it's common for a cryptocurrency exchange to charge transaction fees equal to around 0.1% to 0.3% of a trade, Coinmama charges between 0.9% to 3.90%, plus a 2% spread. These relatively high fees drastically reduce the value offered by Coinmama.
  • Lack of features. Coinmama has a minimal number of features. The platform only supports buying and selling (and even those capabilities are limited). Therefore, users looking to explore the myriad of crypto-centric products will likely find Coinmama barren.

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We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
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We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
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We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.5 / 5

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Coinmama At A Glance

Exchange NameCoinmama
FeaturesBeginner-Friendly, Available Worldwide, Non-Custodial
Accepted Fiat CurrencyUSD, EUR, GBP, CAD, AUD
Deposit MethodsCredit/Debit Card, Bank Transfer, Skrill
Supported CryptocurrenciesBTC, ETH, XRP, LINK, USDT, DOGE, and 10 Others
Number of Trading PairsN/A
Trading Fees0.9% to 3.90%
Customer SupportAI Chatbot, Email, Help Center
Security Measures2FA, Non-Custodial
Mobile AppMobile Wallet Available on IOS and Android

Coinmama Overview

Launched in 2013 and initially headquartered in Israel, the now Ireland-based and registered Coinmama provides a simple, intuitive, and secure online platform for more than 2,600,000 people to buy digital currencies such as Bitcoin, Bitcoin Cash, and Ethereum.

The Coinmama exchange is one of the most well-respected names in the cryptocurrency industry and is now available in over 188 countries. While it doesn't allow people to trade cryptocurrency pairs, the exchange is worth considering for anyone looking to spot-buy BTC, ETH, XRP, and a handful of other popular cryptos.

Coinmama Website

Review of the Top Features on Coinmama

Designed for beginners

The user experience on Coinmama has been carefully thought out and is designed to suit individuals with various levels of investing knowledge. The website provides simple methods to buy Bitcoin or another cryptocurrency, with users able to easily select which asset they want to buy, how much they want to spend, and with which currency to transact.

As Coinmama is a bare-bones exchange, there are no additional features or complex order book-style interfaces to confuse users. As such, while not likely to appeal to experienced traders looking to utilize advanced strategies, Coinmama is a viable platform for beginners looking to take their first steps into the cryptocurrency space.

Coinmama dashboard screenshot

Available worldwide

Coinmama is one of the few exchanges supported almost worldwide. The platform is available in over 188 countries around the globe. Users from accepted countries, including Australia, Singapore, Europe, the UK, Canada, New Zealand, and the US, can quickly and safely purchase cryptocurrency using Coinmama. However, there are a few restricted states and territories within the US, including New York and Hawaii.


A non-custodial cryptocurrency broker like Coinmama is one of the safest places to buy crypto, as the platforms do not store customer funds or hold digital assets. We completed a mock purchase while creating our Coinmama review and noticed that users must provide a crypto wallet address before initiating a purchase. Once the address is provided, the user can decide which payment method works for them and complete the transaction.

Enter Wallet Address to Coinmama before buying

After sending the required funds to the exchange, Coinmama sends the tokens straight to the user's wallet address, eliminating the risk of hackers stealing client funds. In addition, the non-custodial service offered by Coinmama means users can send their purchases directly to a preferred hardware wallet, perfect for the security-conscious crypto enthusiast.

Account Creation & ID Verification

Coinmama is a straightforward exchange that beginners will likely have no trouble using. The initial sign-up process requires that a user enter an email and password. After that, however, customers have no choice but to complete know-your-customer (KYC) verification before being able to use the platform.

To complete the verification process, a user must provide their full name, home address, and a form of photo ID (passport, driver's license). Additionally, new users must take a selfie while holding their ID and a piece of paper with the current date and ‘Coinmama' written on it. The details provided by new customers are checked manually and can take anywhere from 30 minutes to a few hours to be confirmed.

Investors that prefer to remain anonymous will need to choose a non-KYC crypto exchange to buy crypto. Although, limits and restrictions on account features can apply.

Supported Fiat Currencies and Deposit Methods

Coinmama is a fiat-to-crypto exchange that allows individuals to buy cryptocurrencies using fiat currencies. While the platform supports USD, EUR, GBP, CAD, and AUD, users wishing to transact in another currency will need to look elsewhere.

While the range of supported fiat currencies is lower than other exchanges, Coinmama has ensured that every user is provided with a viable payment method. Coinmama accepts credit and debit cards, bank transfers, Google Pay, Apple Pay, and Skrill. Unfortunately, while the most cost-effective option, bank transfer payments can take between 1-3 days to complete.

Coinmama payment methods

Supported Crypto & Trading Pairs

Having access to a substantial number of assets is crucial for anyone wishing to buy and sell crypto. However, while creating our Coinmama review, we noticed that the exchange only supported 16 cryptocurrencies, far less than most other cryptocurrency exchanges.

While the exchange does support the largest assets, including BTC, ETH, and LTC, the lack of smaller projects is far from ideal for anyone aiming to trade cryptocurrency. Furthermore, as a direct purchasing platform, there are no additional trading pairs available and therefore can only spot trade.

coinmama supported assets

Coinmama Fees

Commission Fee

Coinmama boasts higher transaction fees than most exchanges. For crypto purchases. There is a minimum fee of 0.90%, but this figure can be as high as 3.90%, depending on the user's loyalty level.

Coinmama's trading fees are 0.1% to 0.9% plus the 2% spread to sell cryptocurrency. Furthermore, an additional spread fee charged at 2% above the market rate is used to offset volatility.

Credit/debit cards, Apple Pay, Google Pay, and using a prepaid card to buy Bitcoin incur a 4.99% ‘express fee' for fixed-rate instant purchases. There are no added fees for bank transfers. The final trade fee is displayed before the transaction is confirmed, making it simple for users to see a cost breakdown before buying.

Coinmama Loyalty Level

Similar to other cryptocurrency trading platforms such as Binance, Kraken, EXMO, and Kucoin, Coinmama offers a loyalty system. The program incentivizes users to trade increased volumes by rewarding them with reduced trading fees. The loyalty status is not a one-off and needs to be maintained over a 90-day rolling period. The discounts have been updated in the last 12 months and are shown below:

Loyalty LevelFee DiscountTrading Volume (90 day)
Crypto Curious0%0%
Crypto Enthusiast12.5%$5,000
Crypto Believer25%$18,000 or $50,000 Lifetime

Coinmama Fees Compared

The fee charged by Coinnmama for buying and selling crypto is far higher than most other crypto exchanges. average. Furthermore, the additional spread and express fees reduce the value offered by Coinmama even further. While the exchange does provide a convenient way to purchase crypto, those looking for a cost-effective exchange will be better off using a platform like Binance, Crypto.com, or eToro.

Exchange NameTrading Fee
Coinmama0.9% to 3.90%

Coinmama Ease of Use

Coinmama is a simple-to-use exchange that enables users to purchase 16 cryptocurrencies using various payment methods. The platform's interface is clean and intuitive, with all essential information readily available.

Buy crypto Dashboard coinmama

The interface is designed for beginners to easily, quickly, and securely purchase cryptocurrency that resembles Paybis, a similar fiat-to-crypto exchange we have reviewed. There is no price chart to view historical or live prices or advanced order types such as limit or stop-limit.

The design and arrangement of the website are orientated for beginners purchasing Bitcoin or other altcoins for the first time. However, experienced investors will need to use a cryptocurrency trading platform to use advanced trading features and risk management tools.

Coinmama Mobile App

While the trading platform is only available to desktop users, Coinmama has recently released its non-custodial wallet on both IOS and Android. Although users can view the price of crypto markets, the app only supports storing assets and not purchasing them. While the app boasts a slick interface and is easy to use, it currently only supports Bitcoin and Ethereum, hindering its performance.

coinmama mobile app screenshots

Coinmama Support Team

Coinmama has created a help center filled with articles covering how to buy and sell, account security, and the verification process to assist its users with everyday issues. Furthermore, Coinmama offers a live chatbot to help users with basic requests. However, users can contact the Coinmama team for less common queries via email. For our Coinmama review, we tested the support team's response time and received an email back in less than an hour, which was impressive.

Coinmama Security Measures

Unlike most cryptocurrency exchanges, Coinmama is designed like an instant crypto swap service rather than a trading platform. As a result, Coinmama enables the purchase of digital assets, but no funds are stored directly on the exchange, significantly reducing the risk of a digital attack. Although Coinmama keeps its exact security measures under close wraps, the platform offering two-factor authentication and being non-custodial helps to keep users safe.

Coinmama was previously hacked, resulting in the comprise of 1.4 million customers' details. However, the exchange has since increased its awareness of account security by regularly monitoring any suspicious activity and informing customers of good security practices. To prevent another event like the infamous 2019 exchange hack, Coinmama has pledged not to store customers' credit card details. However, some personal information is kept on record as part of the ID verification process.

Frequently Asked Questions

Is Coinmama safe to use?

Although there have been a few past security breaches, Coinmama, registered with FinCEN as well as FINTRAC and headquartered in Ireland, is a legitimate exchange that its parent company Cmama LTD runs.

Can you use Coinmama in the USA?

Coinmama is available in the United States (US). However, eight states and territories within the US are restricted from using Coinmama's services due to local regulations and rules. The restricted areas include Hawaii, New York, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, United States Minor Outlying Islands, and Virgin Islands.

Does Coinmama require ID?

Coinmama is a regulated exchange that complies with Know Your Customer (KYC) requirements. Therefore, each user that creates an account with Coinmama must submit ID documentation to complete identity verification before purchasing digital currency.

Does Coinmama have a wallet?

Yes, the exchange supports storing cryptocurrency within the propriety Coinmama wallet. A stand-alone application available on mobile, the crypto wallet is non-custodial, meaning users have complete control over their private keys. Furthermore, the crypto wallet enables people to send and receive BTC and ETH at any time and offers 24/7 customer support.

How We Rated Coinmama

Review CriteriaHedge With Crypto Rating
Supported Fiat and Deposit Methods3.9/5
Supported Crypto & Trading Pairs2.5/5
Ease of Use5/5
Customer support4.8/5
Security Measures3.7/5
Mobile App3.3/5