Coinmama Review 2018 | Is Coinmama A Scam?

Coinmama is a cryptocurrency exchange that has caught the attention of many. With such popularity, we decided to review the platform to see just what everyone was talking about. First and foremost, we can definitively say that Coinmama is by no means a scam and has earned two thumbs up from Scout the Scam Sniffer! Here’s what we dug up in our review of Coinmama.

Coinmama Has A Flawless Reputation

Coinmama Screenshot

Coinmama has a strong history in the cryptocurrency space. In fact, founded in 2013, the company was the first exchange that allowed for the purchase of cryptocurrencies using credit cards. To date, the exchange has served more than one million cryptocurrency traders and investors across 188 different customers.

Just looking at the company’s track record is one thing, but digging into what users are saying about the company gives a much more detailed picture. So, I decided to do some digging online to see what customer reviews I could find surrounding Coinmama. Honestly, there wasn’t much, but I did find a Reddit thread that was dedicated to Coinmama reviews. On the tread, there were several users saying how happy they were with the service. You can view the Reddit thread here.

Customer Support

When it comes to customer support, Coinmama is a strong option. However, they could use some work. At the moment, the company supports chat support as well as email support. After sending questions through both systems, it’s clear that the support staff at the exchange is highly attentive and knowledgeable. So, when it comes to the quality of support provided by the support staff, it is second to none. However, I’m the type of person that does enjoy having someone to call when I have a question. Unfortunately, you will not find a customer service phone number for Coinmama as they do not currently provide telephone support. While I would like to see this come in the future, I will admit that 99 times out of 100, the email and chat support will prove to be adequate.

Buying Cryptocurrency With Coinmama

Buying cryptocurrency with Coinmama is a relatively simple process. The company currently supports three different payment methods. You can pay via credit card, debit card, or Western Union Money Transfer. As with any other exchange, there will be fees charged and limits imposed. When it comes to Coinmama, the company charges a flat rate fee of 5.5% for cryptocurrency purchases made using credit and debit cards. When it comes to Western Union transfers, the fee will vary depending on the amount of cryptocurrency purchase.

As far as limits imposed, every cryptocurrency exchange will set buying limits on credit card-related cryptocurrency purchases. With regard to Coinmama, the exchange allows some of the largest credit card purchase limits in the industry today. Currently, users can purchase up to $5,000 in cryptocurrency in a single day and up to $20,000 in cryptocurrency over the course of a month.

Verification Speed

When opening a cryptocurrency wallet or signing up with a broker, one of the most frustrating aspects can be the time it takes in order for the exchange or wallet to verify your identity. However, Coinmama has one of the fastest verification processes across the industry. In fact, most users will find that their account is verified within 10 minutes. After verification, cryptocurrency purchases through the Coinmama exchange happen instantaneously.

Scout The Scam Sniffer Recommends Coinmama

Scout, The Crypto Scam SnifferAfter a thorough review, Scout the Scam Sniffer has given his two paws up signal, meaning that Coinmama is a CSS Approved Cryptocurrency Exchange. Scout did all he could to dig up dirt on the company, and while he dug and dug, all he could see to find was more signals of legitimacy. So, we’ll call this one investigation closed. Coinmama is a reputable and fair player in the cryptocurrency space.

Know Of A Cryptocurrency-Related Scam? Throw Scout A Bone!

 

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Crypto Scam Sniffer is a consumer advocate company, working to sniff out the scams in the cryptocurrency space. However, we are also a for profit company that has an ultimate goal of earning money from the activities on our website. With that said, when we do find a positive service in the cryptocurrency space, we generally reach out in an attempt to create an affiliate relationship under which Crypto Scam Sniffer will be compensated for the referral of our visitors to these services. While we will never try to make money by peddling scams, there will be the occasional shameless link inviting you to create a relationship with a company that we believe to be a positive player in the cryptocurrency community.

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