Bitcoin is a consensus network that enables a new payment system using digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, bitcoin is pretty much like cash for the Internet. Click HERE to watch a short video.
A cryptocurrency exchange is a service for changing digital currencies, such as Bitcoin, Ethereum, and more, to fiat (paper) currencies or for other digital currencies. At Coinmama, you can exchange your fiat currency, such as dollars or Euro, for several cryptocurrencies. You can also exchange your Bitcoin for fiat.
Depending on your country of residence, you may not be able to use all the functions of the site. It is your responsibility to follow those rules and laws in your country of residence or in the country from which you access this site and service.
Head over to your account page and click on *Verify my account* on the left side. After that, you’ll be asked to upload a valid government ID along with a selfie containing the ID and a piece of paper bearing the text "Coinmama" and today’s date
Once verified, you’ll be able to buy - in total - up to 15,000 USD worth of bitcoin with credit/debit card.
Acceptable documents are:
An international non-US passport (double page)
A national ID card (both sides)
A driver’s license (both sides)
Keep in mind:
To avoid delays when verifying your account, make sure that your submitted documents are:
Visible in their entirety (all four corners of your document visible)
High-quality images (colour images, 300dpi resolution or higher)
Valid documents, with the expiry date clearly visible
Before creating your first order, we need to know a bit about you. As a financial service, Coinmama is committed to the highest security and privacy standards. This also helps us keep your account safe, fight fraud, and more. The process is called verification and is something everyone must go through before buying cryptocurrency anywhere. After submitting your details for verification, we’ll then quickly go over it and make sure everything looks good. This usually happens within the hour.
Since there is no central bank controlling cryptocurrencies, it's important to understand that each provider chooses its own rate. However, to help keep things clear, services like TradeBlock XBX list an average (or market) rate based on the known providers.
Coinmama's market rate is based on the XBX + 2%. In addition, there is a commission fee of up to 3.90% on buy transactions and up to 0.9% on sell transactions.
For credit/debit card transactions, we add a 5% momentum fee.
For transactions made by SEPA bank transfer, there is no additional fee. For transactions made by SWIFT bank transfer, there is a minimum fee of 20 GBP on orders below 1000 USD and no additional fee on orders above 1000 USD.
If your payment hasn’t been approved yet, the charge you see on your account is probably only an authorization check created immediately after a payment attempt is made. This is necessary to "save" the transaction amount in case the payment is approved. If the payment is declined, the charge will automatically void within 48 hours, depending on your bank’s policy.
Coinmama platform is operated by Cmama Ltd., 3 Ballsbridge Park, Ballsbridge, Dublin, Ireland, D04 C7H2, a daughter company of New Bit Ventures Ltd company #514907880 (which owns the Coinmama brand and platform). Cmama Ltd. is a regulated entity registered as Money Service Businesses with FinCEN (#31000172638926).
Transactions are carried out with Cmama Ltd. and processed by New Bit Ventures Ltd.