Testing Coinmama. Good but to Expensive!



Coinmama offers instant purchase of Bitcoin and Ethereum worldwide by credit or debit card


At Coinmama you can buy Bitcoin or Ethereum immediately: As a payment method Coinmama currently offers the purchase of Bitcoin or Ethereum by credit / debit card. Before buying, an account must be created at Coinmama and then verified with an ID card.


After the manual verification - which usually takes a business day (in our test it took about 10 minutes) - Bitcoin or Ethereum can be purchased for $5000.


About Coinmama: Coinmama is one of the oldest Bitcoin brokers in business and is located in Bratislav (Slovakia). As Coinmama has built a reputation over the years, Coinmama is now one of the most popular Bitcoin and Ethereum brokers on the market.


Coinmama Fees

Coinmama charges the following fees:


Trading fee 5,90%

For payment by bank transfer + 0,00

When paying with credit card + 5,00

So in the end, Coinmama charges 5.90% on the trade of Bitcoin and other crypto currencies plus an additional fee of 5.00% on credit card payments. In our experience, Coinmama is one of the most expensive providers on the market.


The total fee can thus amount to 10.9%.


There are no fees when paying by bank transfer (SEPA), so the effective rate here remains at 5.90% for crypto trade. Despite this, Coinmama is extremely unattractive, at least in terms of fees.


Pros

Trustworthy

Has been on the market pretty long

Nice UI


Cons

Way to expensive fees.


If you still want to buy Cryptocurrencies on Coinmama:




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