Coinmama Review With Video- Buy Bitcoin & Ethereum on Credit or Debit

Coinmama is an international brokerage or fiat to cryptocurrency exchange with a major focus to sell bitcoins and also ethereum to customers from all over the world. It was formed in 2013 and registered in Slovakia but is owned by New Bit Ventures Limited in Israel. Coinmama does not provide a platform for customers to trade, sell or store bitcoins. They strongly advocate that users setup a digital wallet or even purchase a hardware wallet. They have yet to experience any security breach. Customer support is available via email.

HOW TO REGISTER

Presently Coinmama is only available as a website at www.coinmama.com. There is no mobile app available. Also, Coinmama has not released an API to enable users create custom applications that would be compatible with the platform. Users can simply sign up by providing their Email, names, password and country.

WHO CAN BUY?

Coinmama supports users from 180+ countries listed on their site. That’s almost all the countries in the world.

WHAT ARE THE REQUIREMENTS FOR PURCHASE?

Users have the opportunity to purchase up to €/$150 of cryptocurrency without having to verify their identity.

However, to purchase any further amounts users will need to verify their identity using official government-issued ID for KYC and AML purposes (namely passport, national ID card or driver’s license) as well as a verification form including their full name, date of birth, gender, address and credit or debit card number. In order to verify accounts, both sides of the documents must be submitted.

The amount of cryptocurrency that a user may purchase is dependent on the level of verification that they have reached with the platform.

• Level 1: This level allows users to purchase up to 10,000 USD through the service. This level only requires users to provide valid government issued ID (as set out above);

• Level 2: This level allows users to purchase up to 50,000 USD worth of cryptocurrency. In order to access this level users will need to provide two valid government issued IDs, as well as either a utility bill or a selfie of the user holding their ID.

• Level 3: This is the highest level of authorization on Coinmama and allows users to purchase up to 1 million USD in cryptocurrency. In order to obtain this level of authorization, users are required to fill out a short form and return it to Coinmama.

HOW TO PURCHASE

Coinmama supports only two payment methods: Credit/Debit card and Cash. Custom purchase templates are provided in the site but users can choose to buy any amount of their choice. To pay with credit/debit card, fill the payment form and follow the instructions. The card spending limit is $5000 per day and $20,000 per month. After completing the payment, the transaction will then be processed by the credit card processor (which could take up to 20 minutes) before being transferable to the customer’s wallet of choice.

Cash purchase is only available in the USA and is carried out through Western Union.

CONCLUSION

Ultimately, Coinmama has a strong reputation within the cryptocurrency community as a safe, honest and trustworthy broker. It may not have some of the additional features that some of its competitors do, and it may not be the cheapest, but it does what it does very efficiently and securely.

Click here to visit CoinMama.Com and Buy Bitcoin and/or Ethereum Today

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Coinmama.com video review