Is coinmama legit?

Even though Coinmama doesn't have a big name like Binance or Coinbase, it is nonetheless a legit cryptocurrency buying platform. Traders and investors ask: is Coinmama safe, and the answer is definitely yes. While Coinmama has never actually been affected by a hack that led to a loss of cryptocurrency, they have been hacked.

What is coinmama & how does it work?

Instead, Coin mama is a buying platform which enables traders and investors to purchase cryptocurrencies like Bitcoin and Ethereum. In this Coinmama review we'll cover how Coinmama works, who can use it, what the Coinmama fees are and everything else you'll need to know in order to get started using their service.

How much does it cost to buy Bitcoin on coinmama?

It’s safe to assume to pay around 5% when you are using Coinmama. If one bitcoin is currently worth $10k, for example, it would cost you $10.5k to buy it on Coinmama. In my opinion, that’s a hefty price to pay. In order to make a return, Bitcoin must rise past $10,500.

Can you exchange cryptocurrencies on coinmama?

Exchanging cryptocurrencies is actually not allowed by Coinmama because it is a platform where you can purchase with US dollars several cryptocurrencies such as Bitcoin, Etheruem, and Cardano. Yes, Coinmama is a place where you can “buy and sell” these cryptocurrencies, but NOT trade them. Coinmama has its own inventory of cryptocurrencies.