Coinmama isn’t able to serve the entire United States yet. In some states, it offers service by a third-party partner, and in two states, Hawaii and New York, it’s not available at all. In order to verify your account, you will need to submit some form of identification. This can be anything from a driver’s license to a passport.

Coins are delivered fast, but can take 24 hours for payment team is checking all very well, secure. Quick and painless transaction once you get past the initial verification process. Fees are a little higher than some services I have used in the past, but still much less than using a Bitcoin ATM. Bitcoin was in my wallet and confirmed https://www.tokenexus.com/coinmama-review/ in less than 30 minutes, but that could depend on how heavy the traffic is at any given time. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only.

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The more documentation you provide, the more currency you can buy on Coinmama. In addition to these features, Coinmama users are required to verify their identity by providing a driver’s license, passport, or another valid government-issued ID. Customers are also encouraged to enable two-factor authentication, though it isn’t required. Considering that Coinmama has such a beginner-friendly design, it’d be nice to see it improve its educational content. The exchange’s blog has some articles, but many of the crypto education sections haven’t had new pieces published in years.

• However, as I explained earlier in my Coinmama review, Coinmama is a broker exchange which means that you are actually buying directly from them with fiat money.
• And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).
• Coinmama does offer a white glove service aimed at high-net-worth individuals and businesses for users who might exceed the $15,000 spending limit.
• Reviews of customer service on Trustpilot are good, with many stories of helpful, prompt support.
• On the other hand, complying with regulators makes Coinmama a legit and trustworthy crypto broker.
• You will then be required to upload a valid government ID for different levels of access and purchasing limits.

In fact, the moment you place your order, you get your coins instantly without any cash deposit requirement. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. No, Coinmama is not a wallet provider, so if you need a place to store your coins, you should check out some of the most recommended cryptocurrency wallets.

Supported Fiat Currencies and Deposit Methods

This information is general in nature and is for educational purposes only. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries. What beginners love about Coinmama is how easy it is to buy and sell cryptocurrencies. You don’t have to deposit funds, wait for them to clear and then buy your cryptocurrencies.

Yes, Coinmama does require a valid government issued ID in order to purchase cryptocurrencies on their platform. That ID can either be a passport or a state issued driver’s license or other national or state identity card. Then there are the buying platforms, also known as onboarding platforms, which is where Coinmama comes in. On Coinmama it’s not possible to trade cryptocurrencies or to trade crypto derivatives like Bitcoin futures. Instead, Coin mama is a buying platform which enables traders and investors to purchase cryptocurrencies like Bitcoin and Ethereum.