Coinmama is excited to add a new payment option for our UK customers. At Coinmama, we understand that our users want to buy Bitcoin fast, cheap, and in high amounts. (After all, it’s how we want our Bitcoin too!) Which is why we’re especially pleased to introduce Faster Payments to our growing list of payment options.
Why buy Bitcoin with Faster Payments
Faster Payments is available to our UK bank account holders, and allows users to buy Bitcoin online by transferring funds directly from their account. Use Faster Payments and get:
0% payment processing fees. Save 5% over paying with a credit or debit card.
Near-instant Bitcoin delivery. Get your coins in as little as 10 minutes, or up to 1 business day.
High spending limits. Unlike credit and debit card purchases which are limited to purchases of 5000 USD, when you use Faster Payments, you can buy Bitcoin for up to 30,000 USD or GBP equivalent at a time.
How to place an order with Faster Payments
It’s easy to buy Bitcoin online with Faster Payments, you simply need a verified Coinmama account, a Bitcoin wallet, and a UK bank account. Simply select Faster Payments at checkout when placing your order, and then follow the instructions provided to initiate a transfer from your own bank account.
Sign up for Coinmama and get verified
If you don’t already have a verified Coinmama account, you’ll need to sign up for one before you can place an order. Verifying your Coinmama account takes only fifteen minutes. To make the process as fast as possible, please have your ID, a cell phone with a working camera, and a piece of paper on which you’ve written “Coinmama” and today’s date handy. You can find detailed instructions on how to get verified for a Coinmama account here.
Place your order
To place an order with Faster Payments, log into your verified Coinmama account, then click the “buy” button. Choose the type of crypto you’d like to purchase and the amount. Make sure your order is in GBP, then click “buy now.” You’ll now be asked to enter your wallet address. If you don’t already have a cryptocurrency wallet, you can read more about setting up the third-party cryptocurrency wallet of your choice, here.
Once you’ve entered your wallet address, you’ll be given the option to choose your payment method. Select “Faster Payments.” You’ll now be provided with Coinmama’s receiving bank information. Log into your own online banking system to initiate a Faster Payments transfer from the account, with Coinmama as the recipient. Check your email for a summary of your order, including a link to confirm your wallet. Once we receive your payment and your wallet address is confirmed, we will lock the cryptocurrency rate and send your coins.
Coinmama was founded in 2013 with the mission of simplifying the way the world does crypto. We’ve come to work every day since then to accomplish that goal, making it easy to buy Bitcoin online with a credit card, debit card, or your bank account. We offer eight cryptocurrencies for sale, including Bitcoin, Ethereum, and Litecoin, and operate in 190 countries worldwide. We’re excited to be at the forefront of the financial revolution and to welcome you into our global community.