Formed in 2013 and registered in Slovakia, Coinmama is a credible cryptocurrency exchange for people interested in buying Bitcoin and Ethereum quickly and efficiently.
Cash (via Western Union transfer)
At least 217 countries worldwide use Coinmama exchange, including the UK, Australia, Germany, Japan and New Zealand.
It allows clients to buy up to €/$ 150 worth of coins without providing personal details or uploading ID information. Any amount above that requires an ID (passport, driver;s licence, national ID card). Coinmama doesn’t hold user funds but sells from its holdings, which makes it more secure than some of the other popular exchanges. Coinmama does not store customer’s credit or debit card details on their servers.
Limits & Liquidity
It is among the exchange companies that offer high buying limits. It allows purchase of up to $ 5000 bitcoins a day and $20,000 a month. To new sign-ups it offers a high daily buying limit of $50,000. The more verification you provide the more you can purchase.
According to Coinmama website verification only takes up to ten minutes after which bitcoins are immediately delivered to the verified wallet address.
Their fees are high compared to other exchanges. 5.5% + 5% for a credit card with a minimum deposit set at $10. There is also an additional exchange transaction fee of 6.3%.
Coinmama offers support via email only, however, the site’s FAQ and service desk support documents are reasonably comprehensive and easy to understand.