Coinmama is one of the oldest services that made it possible to buy bitcoins using a credit card. Just A few years ago it was unusual and the fees could go up to 20% for one buy.
The big change was due to companies like Simplex that allowed merchants to confirm clients and reduce the risk of chargebacks.
Coinmama integrates Simplex so you can now pay with any Visa or Mastercard you have and for lower fees, between 5%-6.5% (similar to other exchanges fees). And, the most important thing is that you get your Bitcoins in a flash.
WHAT DOES REDDIT AND BITCOINTALK GROUPS THINK OF COINMAMA?
Well, there are different reviews on Coinmama, however we can say that most users are satisfied. Most complaints are about the high charges, but those are what most exchanges charge.
COINMAMA AVAILABILITY WORLDWIDE
Coinmama is registered in Slovakia but they offer the service worldwide. Click here to see the Areas Coinmama operate in.
COINMAMA MINIMUN ORDER
You can buy Bitcoin or Ethereum with your credit or debit card. The minimum you can buy is 60 USD (or its equivalent in EUR).
COINMAMA PROCESSING TIME
The processing time varies depending on workload, but usually it takes a couple of hours. it mostly depends on Simplex processing time.
It takes them about a day or more to respond. However the service itself is good and thorough.
Coinmama offers some of the highest buying limits out there. It allows up to $5,000 BTC per day, and up to $20,000 worth per month.
WOULD YOU USE COINMAMA TO BUY BITCOINS USING A CREDIT CARD?
The answer is yes. It is a legitimate and reputable business.
DETAILED GUIDE – HOW TO BUY BITCOINS ON COINMAMA
go to coinmama.com and fill in the registration form on the home page.
Use a valid email you have access to.
an “almost done” screen should appear.
a confirmation email will be sent to your email address.
Login to your email account and confirm the registration.
After completing your registration, re-enter coinmama.com
login to your new account.
you have to first verify your account.
go to “my account” page” and click on “verify your account link” and follow the instructions.
On the “verify account” page you will be asked to upload a photo of a government issued ID, frond side and back side.
use a a high quality pic, your cellular phone camera will do the job.
You can then choose both files and click on the green upland button.
After you have submitted the two pics (front side and back side) wait for a confirmation email that your documents were received, and another email that your docs have been approved.
Coinmama buying Bitcoin interface
Once your registration has been approved, you can purchase your Bitcoins.
on the purchase page choose from a number of Bitcoin purchase options: a fixed purchase, half a Bitcoin, or a complete Bitcoin. These amounts appear within the four blue squares as well as the cost of the currency in dollars or euros.
you can choose a dollar or a euro exchange rate.
In addition to purchasing fixed amounts, you can scroll the scale using the blue button to increase or decrease the purchase amount.
You can enter your preferred quantity of Bitcoin the field on the left.
You can enter your preferred amount in dollar or a euro in the field on the right.
On payment method page click on the middle “payment using Simplex”.
before you continue read carefully your order summary on the right side of the screen.
After clicking on payment using Simplex you will be taken to the address page of your Bitcoin wallet.
enter the address carefully or preferably copy it instead of writing it manually.
Press the button to continue and pop-up window will ask you to confirm your wallet address again.
now you’ll be taken to the Personal Information screen to complete the transaction.
Enter the credit card details and your personal details.
The charge will appear in your account as simplex_coinmama.
If you are a first timer on the site, you will have to go through a quick verification process that has 2 steps.
This approval process is being conducted by Simplex
You will be asked to confirm your email address by clicking on a link that will be sent to the address you registered with.
Than a four-digit code will be sent to the cellular number you registered with.
The code will be delivered as an audio massage. The phone code is valid for a short period of time, so answer the phone call and immediately enter the four digits.
This process is a one-time process and is carried out only on the first purchase.
This is an example of the verification email sent to your account containing the details of the specific transaction.
Click on the link to confirm.
Once the verification process is complete, you will go to a confirmation screen that looks like this.
you can to continue with the transaction.
You must return to the payment screen.
If you have logged out of this screen do not worry, You can complete the process from your order page (see more details below).
If your credit card has been approved and your payment has been made, this is the screen that you will see.
At the same time, you will receive two consecutive emails to your email account, one from CoinMama, confirming that the transaction has been successfully completed and is currently being processed.
You can track the transaction status on your personal account screen.
If you have not completed the transaction, you can complete it from the orders page.
You can identify the transaction by a unique number attributed to it.
After the transaction has been processed and the coins were actually purchased, you will receive two emails. One from coinmama confirming the transaction, including the purchase amount and the address to which the coins were sent.
A second email from simplex company asking you to confirm the successful execution of the transaction by clicking on the link.
after receiving the emails, you should see the coins in your wallet.
A completed transaction will also appear on your orders screen with a completed status in green.
My order page is coinmama
On Orders page you can track your Bitcoin transactions: Pending orders, orders that have expired, orders still in process and canceled orders.
For each transaction you will receive a breakdown that includes the ID number of the transaction, the type of currency and amount of the purchase, the price at which the transaction was executed and its status.
Completion of a pending Bitcoin transaction
Clicking the pending button will pop up a screen that shows the details of the transaction.
You can decide whether to cancel or complete it.
If you choose to complete the transaction, you will be taken to the payment screen.
On the payment screen you can see a summary of the transaction details and make the final decision about whether to make the purchase.coinmama.com
Trezor or Ledger. Click here to read our Guide to Bitcoin and Altcoins wallets 2019.