Crypto Frontline

Coinmama crypto exchange review

Coinmama is a bitcoin and ethereum exchange, owned by NBV International s.r.o, a company based in Bratislava, Slovakia. It is the daughter company of New Bit Ventures Ltd, which is a regulated entity registered as a Money Service Business. Coinmama is one of the first crypto currency exchanges in the market. Back in 2014, it was one of the few websites that allowed buying bitcoin using a Western Union account. Although it has some pretty big fees, Coinmama is an exchange that still exists and had more than half a million clients until now.

Main features

Unlike the other exchanges reviewed on our website, Coinmama has a totally different approach. With their website you can exchange fiat money, in particular euro and US dollars, with bitcoin or ethereum. In addition to that, the transactions are not done through the market. You can basically sell fiat money to Coinmama and receive from them crypto currency. Also, you can sell crypto currency in exchange for fiat money.

At the present time, Coinmama has support just for bitcoin and ethereum. As their website states, the company plans to add support for extra new crypto coins in the near future.

There is no trading platform involved, thus making exchanges easy even for beginners.

In terms of the payment methods, Coinmama accepts only Credit/Debit Cards.

Pros and Cons

Coinmama is one of the veterans from the crypto currency exchange industry, working in the market since 2013. They have a user-friendly interface, fast transaction time and accept credit/debit card payments. They use Simplex – a credit card processor, which allows clients to buy up to $5000 in just one purchase.

In terms of the negative aspects, Coinmama has relatively high exchange rates due to chargeback issues and the availability of credit/debit cards as payment methods. Also, only bitcoin and ethereum are support by Coinmama exchange.

Summary

Since Coinmama is one of the oldest bitcoin exchanges in the industry and managed to have more than 500,000 clients until now, that qualifies them as a reliable exchange website. We hope they will manage to implement support for more crypto currencies in the future.