It’s no secret that Bitcoin’s price has been generating a lot of excitement recently, as serious institutional investors have been absorbing the supply of available coins for their hedge funds and corporate accounts. For many, the recent spike recalled the euphoric fourth quarter of 2017, when the price of Bitcoin soared, first above 5,000 USD, then above 10,000 USD, before it finally briefly hit 20,000 USD and then eased back down again. The late-2020 into early-2021 spike saw that all-time high doubled, as Bitcoin reached a stunning 40,000 USD – nosebleed altitude for those of us who remember trading it for orders of magnitude less.
That spike wasn’t limited to just Bitcoin; in late 2017 and most recently, all of the major altcoins saw a big jump as people scrambled to buy cryptocurrency. Now, as anyone who bought Bitcoin for most its trading history is seeing a major profit, and mainstream news sites are carrying Bitcoin stories again, it’s safe to say that the buzz is back. For anyone hoping for futher gains this year, the question is, “How do I buy Bitcoin?” as well as “How do I buy cryptocurrency?”
With Coinmama, users in 188 countries and territories worldwide and in 48 US states can buy Bitcoin online in just a few easy steps. You can find the full list of areas we serve here. Simply register with Coinmama, verify your account, and buy. In this article, we’ll walk you through the process of buying Bitcoin with Coinmama step-by-step, from registration to receiving your coins. Coinmama doesn’t just sell Bitcoin. You can buy cryptocurrency such as Ethereum, Litecoin, _ Cardano, Bitcoin Cash, _ and Ethereum Classic as well. Learn how to get verified with Coinmama, set up a cryptocurrency wallet, and buy Bitcoin with a credit / debit card, bank transfer, or Apple Pay.
Setting up your Coinmama account
Before you can buy Bitcoin online with Coinmama, you need to set up your account. You’ll need to first register your email address and then get verified for purchase. Coinmama verifies all of its users for compliance with regulations and in accordance with its risk management policy.
For a fast and smooth verification process, gather your government-issued identification card such as a driver’s license or passport, your smartphone, and a pen and paper.
Note: for US customers, because we do not serve all US states, you’ll need to upload an ID that shows your address, such as a driver’s license or non-driver’s ID card.
Step 1 – Create Your Coinmama Account
1. Head to the main corporate header menu and select the light blue “Sign Up” tab at the top right (or click here). Note: if you already have an account, just sign in via the “Log In” button with your existing login details (or click here).
2. Enter your email, password, first name, last name and your country of residence.
3. Look for an email from Coinmama asking you to confirm your account. Click the link in the email to complete the registration process.
** Note: for more information on how to create an account with us, click here.
Step 2 – Get Verified for Purchase
1. To purchase bitcoin (BTC), you first need to become verified.
2. It’s necessary to enter your personal information and upload your ID or passport, plus various other documents depending on which level of verification you wish to reach.
Our verification team works 6:00-23:00 UTC. If everything looks ok, you should be verified in about fifteen minutes during working hours, or as soon as we’re back at our desks. If we have a question about your documents or need more information, we’ll let you know. Once your account is verified, you’re ready to buy Bitcoin!
**Note: for further help with account verification, please click here.
Step 3 – Place your first order
1. Once signed in and verified, click the “Buy” button and select “Bitcoin”.
2. Next, choose the amount you would like to buy. You can select a package, or enter the fiat amount or crypto quantity you’d like to buy of up to roughly $5,000 (as of the time of writing) for card purchases or $15,000 for wire transfer purchases.
3. Supply your Bitcoin wallet address. If you’re unsure what this is, please check out this article. The address you enter is where we’ll send the coins which you buy. You can re-use this address for subsequent purchases or get a new one from your wallet, at your discretion.
4. Then, select the “Go to Payment” button.
Step 4 – Complete your Checkout
1. Select your payment method. Users worldwide can choose to buy bitcoin with a credit card, debit card, bank transfer and now Apple Pay.
2. Enter your payment details and click the “Buy” button.
Note: For card purchases, kindly note that only cards issued by VISA or MasterCard are accepted. As for wire transfers, they usually take 1-2 business days to post. This means that when paying via wire transfer, you will get the rate at the time your money arrives at our account. This means that during times of high price volatility, you may get a rather different Bitcoin amount (either more or less) than expected.
Once payment has been made, our BTC transaction to your wallet’s address then needs to be confirmed by the Bitcoin network. In approximately 10 minutes, a Bitcoin payment will be broadcast from Coinmama’s wallet to the Bitcoin address you supplied in Step 3, point 3.
Note that during times of especially high traffic, your transaction may take longer than normal to appear as confirmed within your wallet. Ordinarily, the transaction will be confirmed within 10 minutes. For large amounts, this might take a little longer (up to an hour).