Coinmama Review

People who are into bitcoin buying can readily do it at Coinmama which is an exchange service online for bitcoin purchasing through the use of e-wallet or debit/credit card. However, they do not accept PayPal.

During the verification process which may require six hours to complete but can be done within the span of one to three hours only, may as well need at least one or more identification forms that needs to be submitted. The company renders its services internationally and its location is in the British Virgin Islands.

But, the service is presently unavailable for residents in the U.S. However for U.S. citizens living abroad, they may use the service given that they have proof of residence.

The customer service section of Coinmama was very clear, professional and quick during the times I communicated with them upon going through the process of registration or verification. To sum up the whole process, it was very straightforward and smooth than others like CEX.IO, since users are able to buy bitcoins immediately after registering.

Only one legal identification document is frequently needed in Coinmama unlike with CEX.IO that needs three as well as photo of oneself while holding an applicable document. The process obviously is very unpleasant to some people who would want to maintain privacy or preserve anonymity. Therefore, the process of verification in Coinmama is a bit easier to handle.

A little bit of caution:

It is important for U.S. Citizens living abroad to see to it that the identification documents they have uploaded are in English. For instance where you use your water bill from your current address in Guangzhou, China and it happens that is it not in English, the document will not be taken as a valid verification in Coinmama.

Buying limits. For purchases via debit/credit card, the limit is only of USD 520 BTC per day. However for purchases through cash, the limit per day is USD 1,500 or USD 2,500 which is dependent on the area of residence.

A few bonuses:

• Affiliate program – Gain bitcoin by coinmama.com affiliation
• Immediate payment when the verification is done completely. No security/buffer period for transactions that are first-time.
• Your credit card information are not saved in Coinmama’s database. (One should note that the information may be saved or not by Simplex which is the payment service that utilized the processing of credit card transaction in Coinmama).

Summary:

Overall, Coinmama, is quality service provider for those interested to buy bitcoins securely and instantly without comprising the user privacy. It provides a professional and smooth transaction, with quick customer service and lesser amount of hassle during the registration or verification process. The service is not currently offered to U.S. residents due to legislation reasons, but it is highly probable in the near future.