Coinmama Review | Beginner’s Guide To Coinmama Exchange

Tarulika  |  Apr 16, 2020

A few years back, buying Bitcoin was not comfortable. But now, almost every possible payment method is available for you to buy the cryptocurrency, on one or the other crypto platform. Not only bitcoins but hundreds of altcoins are also gaining space in the markets due to the widespread digital financial revolution. Newbies have started looking for the crypto platforms to have their first buy. Undoubtedly Binance and Coinbase are captivating the majority of crypto enthusiasts, but many other exchanges are also gaining popularity amongst the traders. One of them is Coinmama exchange which has already expanded its user's base in more than 200 countries. Let us try to understand more about the Coinmama through this guide on Coinmama review.

Coinmama Review | Basic Introduction

Coinmama was founded in 2013 as a cryptocurrency brokerage exchange. Currently, it is operating in almost 200 countries and offers the choice of all the significant crypto coins like BTC, ETH, XRP, LTC etc. Users on this platform can either use credit/debit card, SWIFT transfer, SEPA bank transfer (EU banks) or Faster payment transfer (UK banks only) as their payment method. In this guide to Coinmama exchange, we want to highlight the fact that Coinmama only allows the purchase of cryptocurrency, neither trading nor selling of currency is supported on the platform. If you are thinking to create your account on the exchange, thoroughly read the Coinmama review. Exchange is continuously making the efforts increase daily spending limits, lowering their fees, promoting the affiliates marketing and diversifying the list of the crypto coins and their platform to attract the newbies and also experienced ones of the crypto space.

How To Purchase Crypto Coins On Coinmama? |Coinmama Review

How to cryptocoins on coinmama

You might be surprised to know that you don't need to register your credit or debit card while purchasing Coinmama. So let us ask our guide on Coinmama exchange, then how can we initiate our purchase on Coinmama? It Is simple! You need to register or create your account on the exchange. Then, you need to place the order by entering the amount/number of coins you wish to buy and your crypto wallet address. Proceed to the checkout page and fill the details of your credit/debit card (Hurray! Details are not saved on the servers of Coinmama). Keep calm, while your payment and wallet address is being confirmed. Finally, the cryptocurrency is directly sent to the wallet. (It is that simple!). One interesting point must be noted while reading the Coinmama review that you need not worry about the fluctuations of the price while completing the procedure of purchasing the coins as Coinmama locks the prices at the times of purchase itself. The minimum purchase amount on Coinmama can be 60 USD at present. So, you must read the limits of purchase, transaction fees and also other guidelines before choosing the Coinmama to purchase the coins.

Do We Need A Digital Wallet With Coinmama?

Do we need digital wallet of coinmama

 

Coinmama does not provide any online wallet for the customers on its exchange to store crypto coins. On the contrary, it allows the users to set up their wallet and then receive the coins directly from the exchange. The unavailability of the wallet on an exchange makes your funds more secure and protects the investments from the cyber hacks. You only need to take care of the funds stored in your wallet. So, one question might pop up in your mind: Do I need a digital wallet to trade with Coinmama? First of all, this needs to be clear in your mind that Coinmama does not allow you to trade, and only allows you to purchase the coins. Secondly, as the exchange does not have any facility to provide a wallet, so you need to have your crypto wallet, either hot or cold. Both the wallets are being supported on the exchange. I hope you know the difference between hot and cold wallets. Hot or online wallets like Coinbase, Blockchain, Exodus etc. allow you to save your funds on the online platform as per Coinmama review. Cold or offline wallets like Trezor, Ledger Nano etc. are considered to be more secure wallets as they allow you to save your digital codes or private keys in USB like devices. Thus, Coinmama pointed out that by not holding any cryptocurrency on behalf of a user, Coinmama offers extra nudge to set up your digital wallet.

What Is The Affiliate Program Of Coinmama?

Affiliate marketing of coinmama

In this Coimama review guide, we would like to mention the affiliate program of the exchange. Affiliate marketing is one of the ways to diversify the expanse of the exchange, but only a few of them are currently running the program. With Coinmama, you can have the chance to be paid in bitcoin in a comfortable, fast and secured way. You need to promote the exchange and amplify the commissions by using advanced tools of marketing. Does Coinmama have an affiliate program in my country? Possibly Yes! as the exchange allows the promotion in over 190 countries of the world. With monthly paid earnings, Coimama allows 15% of commission on all of the referral purchases. To get the advantages of the affiliate program, you need to register, send the referral link and you can earn the commission on every successful purchase as mentioned in the guide of Coinmama review.

Conclusion

You might have encountered number of exchanges before reading about Coinmama, but after going through the Coinmama review, you might think- should I change cryptocurrency regulated exchange? Undoubtedly, Coinmama has strengthened its position in the crypto markets as one of the trustworthy crypto brokerage firms. This crypto firm allows you to choose from a variety of methods to pay for the coins you wish to buy. With a user-friendly interface, Coinmama is one of the exchanges which offers the options of almost all the significant crypto coins. The unique feature of not including any wallet on their exchange and directly transferring the coins to your wallet helps you to hedge out the risks associated with cybercrimes. Overall, Coimama provides the smooth, simple and secure way of transaction which directly reflects in your crypto wallet. 

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