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Coinmama Review 2019 – Is it still Safe? This is What We Know

Read our long form review here:

Coinmama is an an instant crypto / fiat gateway that was founded in Israel in 2013. They give you the ability to buy crypto with your credit card instantly.

Their services are available in 300 countries and 23 US states.

They are not a centralized exchange and will not hold your keys. They will send the coins directly to your wallet.

Coinmama was recently the victim of a pretty large hack. This saw the attackers getting access to the personal information of hundreds of thousands of users.

Given that they do not store credit card information, the hackers were only able to get access to email addresses as well as hashed passwords.

Although Coinmama is instant, the fees that they charge are really quite exorbitant. They charge 10% on card purchases which is much more than we have seen on any other exchange.

Coinmama allows you to purchase Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ethereum classic and Qtum.

If you want to buy these coins then you will have to get verified first. They claim to have a fast track verification that could get you verified in under an hour (will depend on backlogs).

In terms of customer service, Coinmama has a 24-hour live chat function as well as all the standard online and email contact options. Unfortunately, there is no telephone number for you to call.

The Coinmama platform seems to be quite user friendly and intuitive and is well developed to optimize direct coin purchases.

All you need to do is select the coin in question, give over your offline wallet address and, hey presto, they send your coins to your wallet.

The platform is not really developed for trading coins so I would suggest another platform if that is your intention.

So in conclusion, if you can take the high fees on the exchange in order to get your coins as quickly and easily as possible then Coinmama may be for you. You will have to decide whether you trust them with your ID in the wake of the hack.

This is for informational purposes only. Coin Bureau does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Rates and terms set on third-party websites are subject to change without notice.

Source: Coin Bureau

19 Responses

  1. They just cheated me out of a $100 purchase of Bitcoin Cash. I am so glad I didn't purchase more because I needed some regular Bitcoin and much more BCH but for a first time use with a company or service I keep things reasonable as losing the $100 while it stung a bit was nothing like losing 6 or 7 hundred. I am looking for a honest, legit, exchange where I can buy/sell crypto as well as possibly trade without having to worry about getting cheated. Only just not Coinbase…..they are #1 but they banned me and I have no idea why………..they will not discuss the matter with me no matter how many times I send e-mails requesting conversation. The only thing I can figure is that I buy a lot of vape products and the prices in China are extremely cheap so maybe they disagree with me doing business out of the US, I don't have a clue why so I am grasping at straws so now I need a new crypto exchange.

  2. So I have been trading/mining crypto with a guy named James Carlson for quite sometime now. I came to know of him and his mining/investment platform through a friend. I have to admit, I was quite skeptical at first, so I invested about $5,000 and in about 6 days, I made an ROI of about $16,400. He then introduced me to a strategy on how to trade and execute trades with signals and this yells me from my 0.7 BTC to 4 BTC in just 2 week of trading under his instructions, I feel this is worth sharing so as to help those trying to venture into the Bitcoin/crypto world. James can be reached on Whatspp: +447476717980 and Telgram @ JamesC51 for inquiries into profitable trading systems.

  3. Do not invest your $$$ on this junk .
    My wife was a victim of fraud in coinmama for almost $4k suddenly the money was gone , she was devastated and had to spend alot of time to try get her money back from the bank , amazingly the transaction was billed under coinmama and who ever did the scam was able to bypass multiple security protocols in her account . Do not risk your $$$$$

  4. Do not I repeat do not use coinmama my wife got scammed 3000$ this people are a joke they refunded $500 and won't offer any money back due to pending investigation . Who ever hacked it managed to bypass not only their security protocols but my wife's bank security . This has been a nightmare if you don't want to risk loosing your money look somewhere else.

  5. If you have been scammed or you need the best strategy to follow on how to trade successfully you need to contact Mr Patrick Webber for help, i was once a victim of scam and i was not able to trade myself so when i got in touch with him he helped me get back my lost funds and taught me how to trade with the best strategy and when to enter trades. I can now trade successfully on my own so for those of you looking for a way to trade successfully or to get back your lost funds kindly contact him on WhatsApp +14092422496 for more details.

  6. Thanks for the video and hope it could be more understanding to others…..The wisest thing that should be on every wise individuals list is to invest in different streams of income that don't depend on the government to bring money especially now the pandemic is hitting economy hard

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