About Coinmama

Coinmama, established in 2013, is a lesser-known exchange with a relatively small presence on social media. The company is headquartered in Israel and primarily facilitates fiat-to-crypto transactions, with no provision for crypto-to-crypto exchanges. Unlike most exchanges that match buyers and sellers, Coinmama operates differently by selling cryptocurrencies from its own holdings.

Currently, Coinmama operates as a buy-only platform, with no option for users to sell their crypto holdings. Users can purchase cryptocurrencies using debit or credit cards, which results in higher fees compared to many competitors. The rates on the website are notably high, with a 5.9% fee representing Coinmama's charges, in addition to an extra 5% fee imposed by the payment processor. However, the advantage of accepting card payments is that Coinmama can accommodate all local currencies.

Users are required to provide personal details for identity verification, which may deter those seeking to maintain anonymity. Coinmama offers a limited selection of cryptocurrencies compared to most exchanges, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Cardano, Quantum, and Ethereum Classic.

It's worth noting that personal data provided to Coinmama is encrypted, and users' credit card details are not stored on the website or its servers. Coinmama also claims to be fully GDPR compliant.