Became interested in cryptocurrency? Heard about the raise of Bitcoin? And now you want to buy bitcoins online with your credit card? Well, Coinmama could be a great choice of yours to buy some bitcoins online. Read this Coinmama review to get the basics.
What is Coinmama
CoinMama.com is a Bitcoin and Ethereum broker providing full service of buying and selling cryptocurrency. It helps visitors to buy bitcoins instantly with credit cards. Digital currencies make it easier to keep your money. You don’t have to go to the bank and speak to bank clerks. Instead, you can make purchases with one click.
Where is Coinmama Located
Coinmama is an Israeli company launched in 2013. They don’t have much information about themselves on their website, though there is enough info on the web.
There is no other way to purchase bitcoins on Coinmama rather than debit or credit card. Also, there is an opportunity to use cash via Western Union.
Coinmama Identity Verification
Reliable Bitcoin brokers ask their customers to verify their identity to prevent money laundering. So, this should not surprise you. It usually takes up to 10 minutes to verify user’s account. To make the process of identification fast and easy, follow these steps:
- Prepare your ID
- Prepare your driver’s license
- Make high quality scans of your documents
These actions will help you get through account verification really fast.
Due to the absence of bank regulation, each website offers self-proclaimed fees. In the case of Coin Mama, the fees are 6.15% added to their Bitcoin exchange rate. Also, there is an additional payment processor fee, which is 5%.
Is Coinmama Safe?
Coinmama.com is not the cheapest service among others available nowadays. It has big fees, though the platform itself is well-know, proved and reliable. The platform itself started to sell bitcoins long before other services had come up. This is the best choice for newbies who wonder “is coinmama safe?”. Well, the answer is yes, it is. All the data entered is SSL encrypted and stored on protected servers. Accordingly, your credit card information is not saved.