Coinmama Review: Fees, Deposits/Withdrawals, Purchase Limits
Coinmama is a cryptocurrency marketplace that allows adopters to buy digital currencies like Bitcoin or Ethereum using a credit card. The company is owned by NBV International s.r.o, a subsidiary of New Bit Ventures Ltd, a FinCEN-registered company. Coinmama was launched in 2013 and is based in Bratislava, Slovakia, even though its parent company New Bit Ventures Ltd has its headquarters in Israel. The platform has a presence in 226 countries around the world including the U.S.
As a result, payments can be made using all local currencies. It is also important to point out that Coinmama does not offer its own wallet, so you will need to have your own wallet before you can buy a digital currency from the exchange. Also, you cannot execute bill payment or money transfer services on this platform. It is also not possible to sell cryptocurrencies through Coinmama; you can only buy. In the same vein, there is no option to link your bank account.
Many cryptocurrency exchanges do not accept fiat currency deposits. They only accept cryptocurrencies; usually Ether or Bitcoin. Coinmama, therefore, exists to enable traders who want to buy Ethereum or Bitcoin using fiat currencies to do so.
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