Can I use Coinmama to send or receive crypto like a wallet?

Coinmama is a non-custodial platform , meaning it doesn’t store user crypto. You must connect an external wallet for every purchase or sale. This provides added security but requires more user involvement in crypto handling.

Which fiat currencies can I use on Coinmama?

Coinmama accepts 47 fiat currencies for buying crypto , including USD, EUR, GBP, JPY, and AUD . However, for withdrawals , only USD, EUR, and GBP are supported.

What types of crypto services are available on Coinmama?

Coinmama provides Buy, Sell, Swap, and OTC market access . Users can purchase crypto with fiat, sell it back, or swap tokens directly. However, features like staking, yield farming, or copy trading are not available at this time.

Does Coinmama support futures or margin trading?

No. Coinmama offers only spot trading and OTC services . It currently does not support futures or leveraged trading , though its roadmap indicates that CFD trading may be introduced in the future .

What countries or regions cannot access Coinmama services?

Coinmama is restricted in over 30 regions , including New York, Louisiana, Russia, Iran, North Korea, Syria, and Venezuela . These restrictions are primarily due to regulatory or geopolitical reasons . Always verify the latest list on Coinmama’s website before registering.

Are there any rewards for high-volume traders on Coinmama?

Yes, Coinmama has a loyalty program with three tiers: Crypto Curious, Crypto Enthusiast, and Crypto Believer. Traders spending $5,000 in 90 days get a 12.5% fee discount , and those spending $18,000 in 90 days or $50,000 lifetime enjoy a 25% discount and priority support .

Does Coinmama offer a mobile app or trading platform?

As of now, Coinmama has neither a web-based trading interface nor a mobile application . Users can access the exchange via browser for buy/sell operations, but advanced trading tools, real-time charts, or mobile accessibility are currently lacking, making it less suitable for active traders .

Is Coinmama available in the United States?

Coinmama operates in 48 U.S. states , but services are not available in New York and Louisiana due to regulatory restrictions. Users from other states can freely register, verify, and transact on the platform.

Can I use Coinmama without completing KYC?

Coinmama requires KYC for most transactions , but certain limited transactions—like using the Swaps tool —can be done without account creation or verification . Full access to features, however, such as purchasing or selling crypto using fiat, mandates ID verification and progressing through user levels.

Does Coinmama support fiat deposits and withdrawals?

Yes. Coinmama accepts fiat deposits through multiple channels, including Visa/Mastercard, bank transfers, Skrill, Neteller, Apple Pay, and Google Pay . Fiat withdrawals , however, are limited to Bank Transfer, SWIFT, and SEPA methods and only support USD, EUR, and GBP .

How many cryptocurrencies can I buy or sell on Coinmama?

Coinmama currently supports direct buy/sell access to 80+ cryptocurrencies , including major assets like BTC, ETH, XRP, ADA, and DOGE . However, through its separate Swaps feature , users can swap 500+ tokens without needing a registered account or completing KYC. This makes it accessible for users who want broad exposure to crypto pairs in a decentralized manner.

Does Coinmama have a wallet?

No, Coinmama doesn't provide a wallet. However, it claims that the app will be launched soon.

The platform is registered with FinCEN and has been operating since 2013.

TradingFinder
Exchanges
Coinmama Review 2025

Writer:

Arjun Mandal

Reviewer:

Davit Kvaratskhelia

Fact checker:

Eda Kaya

Modified:May 27, 2025

Coinmama Review 2025

Company:Coinmama

Headquarter:

Vancouver, Canada

Founded:2013

Coins:80

US Accepted:

Max Leverage:1:1

Affiliate Commission up to 30%Crypto SwapOTC Market

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

About

Coinmama is a crypto exchange that was previously based in Israel. It moved to Canada and acquired a license from the USA FinCEN. The exchange offers up to 30% commissions to its affiliates. The trading fees range from 0.99% to 3.9%. It supports 47 fiat currencies, including USD, EUR, AUD, and CAD.

Contact

N/A support@coinmama.com

666 Burrard St Ste 2500 Vancouver, British Columbia V6C 2X8, Canada

Rank and Score

Pros and Cons

User Levels

Pros

User-friendly interface

Multiple payment methods

Available in 190+ countries

Strong regulatory framework

Cons

Higher than average fees

No mobile app available

Limited asset offerings (80+)

Track record of security breaches

5 From 5.0

(1)

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Coinmama offers access to 80+ cryptocurrencies in an OTC market. The minimum deposit (except for Skrill and Neteller) and minimum trade size are $5 and $50, respectively. The platform provides services in 48 US states.

Coinmama; Exchange Information and Background

Coinmama was founded by Nimrod Gruber and Laurence Newman in 2013. The company is headquartered in Vancouver, Canada.

The platform was acquired by Wellfield Technologies in 2022. It has raised $2.4M in funds from multiple investors, including Mindfulness Capital (Hong Kong) and iAngels.

Coinmama Exchange Specifics

The crypto exchange provides various services, including Buy/Sell, Swap, and Trade.

Exchange	Coinmama
Launch Date	2013
Levels	Crypto Curious, Crypto Enthusiast, Crypto Believer
Trading Fees	From 0.99% to 3.90%
Restricted Countries	New York, Louisiana, Abkhazia, Afghanistan, Belarus, the Central African Republic, Crimea, Cuba, the Democratic Republic of the Congo, Ethiopia, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, Nicaragua, North Korea, Northern Cyprus, Palestine, Russia, the Sahrawi Arab Democratic Republic, Somalia, South Ossetia, South Sudan, Sudan, Syria, Venezuela, Luhansk and Donetsk, Yemen, Zimbabwe
Supported Coins	80+
Futures Trading	No
Minimum Deposit	$5
Deposit Methods	Bank Transfer, Skrill, Neteller, VISA, MasterCard, Google Pay, Apple Pay, Crypto
Withdrawal Methods	Bank Transfer, SEPA, SWIFT Crypto
Maximum Leverage	1:1
Minimum Trade Size	$50
Security Factors	2FA, No storage of users’ funds, Not storing payment details
Services	OTC Market, Swap
Customer Support Ways	Live chat, Email
Customer Support Hours	24/7
Fiat Deposit	Yes
Affiliate Program	Yes
Orders Execution	Market
Native Token	No

Coinmama Upsides and Downsides

The exchange is registered with the USA FinCEN Department of the Treasury and covers 48 US states. Let’s weigh Coinmama's strengths against its weaknesses.

Pros	Cons
User-friendly interface	Higher than average fees
Multiple payment methods	No mobile app available
Available in 190+ countries	Limited asset offerings (80+)
Strong regulatory framework	Track record of security breaches

User Level and Fee Reduction

Coinmama has implemented a loyalty program with 3 tiers offering discounts on trading fees based on 90-day spending.

Loyalty Level	Fee Discount	Required Spend	Faster Support
Crypto Curious	0.0%	$0	No
Crypto Enthusiast	12.5%	$5,000 in 90 days	Yes
Crypto Believer	25%	$18,000 in 90 days or $50,000+ lifetime	Yes

Coinmama users progress through four verification levels, each unlocking higher transaction limits. Level 1 allows purchases up to $15,000 per month, while Level 4 offers custom limits via the VIP desk.

Additionally, Coinmama’s loyalty program offers fee discounts, 12.5% for users spending $5,000 in 90 days, and 25% for those reaching $18,000 in 90 days or $50,000 lifetime.

Coinmama Fees Explained

The exchange charges spread on trading pairs in addition to a level-based commission. Key points about Coinmamma fee structure:

Trading commission: from 0.99% to 3.90%
Payment fee: Express fee for Credit/Debit Card, Google Pay, Apple Pay, Skrill, and Neteller payments

In this Coinmama review, we must mention that the trading commissions are higher than the industry average.

Real-world testing revealed fees ranging between 10% and 15%, significantly above the advertised maximum of 3.9%. For instance, a $1000 crypto purchase using PayPal incurred a 14.69% fee, while SEPA transfers carried a lower 10.05% fee. Selling crypto also involves substantial costs, with fees reaching as high as 14.65% via SWIFT. A loyalty program offers up to 25% fee discounts for high-volume users.

Listed Digital Assets on Coinmama Exchange

The platform boasts supporting a wide selection of 500+ digital assets for swapping.

: Coinmama Exchange Markets — A look at available cryptocurrencies on the Coinmama platform

However, when you log in to your account and attempt to make an order, only 80+ cryptocurriencies are available, including:

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Bitcoin Cash (BCH)
Cardano (ADA)
Dogecoin (DOGE)
Ethereum Classic (ETC)
Tether (USDT)
USD Coin (USDC)

Additionally, the platform enables crypto swaps across more than 500 tokens via a separate swaps tool, accessible without account creation or KYC. While the exchange supports 44 fiat currencies for purchasing crypto, only GBP, EUR, and USD are accepted for withdrawals.

Futures and Margin Trading

Coinmama is a half centralized and half decentralized platform focusing on Crypto OTC market. The exchange doesn’t offer access to Futures markets. However, it claims that CFD trading will be available soon on the platform.

Coinmama Registration and Verification

To begin trading with Coinmama exchange follow the steps below:

#1 Enter the Coinmama Website

Start opening an account with the Coinmama exchange by entering the official website. Next, click on the "Sign Up" option.

#2 Provide Your Email Address

Enter your email address in the designated field to continue the process.

Input your email address in the Coinmama registration page

#3 Verify Your Email

Open your email inbox and find the verification code sent by the Coinmama exchange. Type it to access the exchange dashboard.

Coinmama verification code — Enter the verification code to verify your email and finalize the Coinmama registration process

Coinmama Application

The exchange’s trading platform hasn’t been launched at the time of writing this article. So, there is no web-based trading platform. The Coinmama wallet, too, is due to launch soon.

The lack of a mobile application and a trading platform can be a huge letdown for potential clients.

Is Coinmama Exchange Safe?

In this Coinmama review, we must mention that the platform was breached in 2019, compromising the account information of 450,000 users, according to Yahoo Finance.

However, the platform has implemented various security measures since the incident to answer the growing concerns, including:

Not storing payment details
No storage of customers’ funds
2 factor authentication

Coinmama Payment Methods

In addition to Crypto transactions, the platform supports 47 fiat currencies, such as USD and EUR. Available deposit options on Coinmama:

deposit Method	Minimum Deposit
Credit/Debit Cards (Visa, MasterCard)	$5
Bank Transfer	$5
Skrill/Neteller	$20
SWIFT/SEPA	N/A
Apple Pay/Google Pay	N/A

The exchange also offers alternative funding methods, such as Giropay, Astropay, PIX, Khipu, WebPay, PSE, and SPEI. The only options for fiat withdrawals on Coinmama are Bank Transfer, SWIFT, and SEPA.

Coinmama Buy Transactions — The minimum purchase amount for ETH and DOT tokens is $10

User Satisfaction

Online reviews indicate that the platform is quite reliable. Here are Coinmama’s scores on different platforms:

Reviews.io	2.9 out of 5 based on 87 reviews
Trustpilot	3.8 out of 5 based on 885 comments

Comments on the Coinmama Trustpilot profile are mostly positive, with 80% being 4-star and 5-star. Only 18% are negative (1-star and 2-star).

Coinmama Features

The table below breaks down the key features of the Coinmama exchange:

Feature	Availability
Staking	No
Yield Farming	No
Social Trading	No
Liquidity Pool	No
Gift Card	No

Support Channels

The exchange provides 24/7 support through multiple channels, including email and a live chat feature.

Email: support@coinmama.com
Live chat: Through the client area

Coinmama Investment and Growth Plans

At the time of writing this Coinmama review, the platform doesn’t offer Staking or crypto copy Trading software. However, its website indicates that the Staking program will be launched soon.

Coinmama Exchange Prohibited Countries

While the platform strives to serve a global clientele, it can’t provide services in specific regions due to regulations. Coinmama restricted countries and states:

New York (US State)
Louisiana (US State)
Abkhazia
Afghanistan
Belarus
Central African Republic
Crimea
Cuba
Democratic Republic of the Congo
Ethiopia
Iran
Iraq
Lebanon
Libya
Mali
Myanmar
Nicaragua
North Korea
Northern Cyprus
Palestine
Russia
Sahrawi Arab Democratic Republic
Somalia
South Ossetia
South Sudan
Sudan
Syria
Venezuela
Luhansk and Donetsk (regions in Ukraine)
Yemen
Zimbabwe

Coinmama Geo-Restrictions — A list of restricted jurisdictions on Coinmama

Always check the exchange’s official website for the most up-to-date list of supported countries before attempting to register.

Coinmama Comparison with Other Exchanges

To better understand the quality of services in the Coinmama exchange, we have compared its features to other well-known crypto exchanges.

Parameters	Coinmama Exchnage	Binance Exchange	Bybit Exchange	HTX Exchange
Number of Assets	80+	150+	1300+	700+
Maximum Leverage	1:1	1:125	1:100	1:200
Minimum Deposit	$5	$1	Varies by Cryptocurrency	$1
Trading Fees	From 0.99%	From 0.02% Maker, 0.04% Taker	From 0.015% Maker, 0.005% Taker	From 0.02%
Mandatory KYC	Yes	Yes	Yes	Yes
Futures Trading	No	Yes	Yes	Yes
Mobile Application	No	Yes	Yes	Yes
Fiat Payment	Yes	Yes	Yes	No
Staking	No	Yes	Yes	Yes
Copy Trading	No	Yes	Yes	Yes

Writer's Opinion and Conclusion

Coinmama provides Buy, Sell, and Swap services for digital assets. Transactions up to a certain limit (not specified) are KYC-free. The platform supports Netteler, Skrill, and SWIFT as payment methods. The exchange has a score of 3.8 out of 5 on Trustpilot.

FAQs

Is Coinmama legit?: The platform is registered with FinCEN and has been operating since 2013.
Does Coinmama have a wallet?: No, Coinmama doesn't provide a wallet. However, it claims that the app will be launched soon.
What's the minimum purchase amount in Coinmama?: The minimum purchase is $50.
How many cryptocurrencies can I buy or sell on Coinmama?: Coinmama currently supports direct buy/sell access to 80+ cryptocurrencies, including major assets like BTC, ETH, XRP, ADA, and DOGE. However, through its separate Swaps feature, users can swap 500+ tokens without needing a registered account or completing KYC. This makes it accessible for users who want broad exposure to crypto pairs in a decentralized manner.
Does Coinmama support fiat deposits and withdrawals?: Yes. Coinmama accepts fiat deposits through multiple channels, including Visa/Mastercard, bank transfers, Skrill, Neteller, Apple Pay, and Google Pay. Fiat withdrawals, however, are limited to Bank Transfer, SWIFT, and SEPA methods and only support USD, EUR, and GBP.
Can I use Coinmama without completing KYC?: Coinmama requires KYC for most transactions, but certain limited transactions—like using the Swaps tool—can be done without account creation or verification. Full access to features, however, such as purchasing or selling crypto using fiat, mandates ID verification and progressing through user levels.
Is Coinmama available in the United States?: Coinmama operates in 48 U.S. states, but services are not available in New York and Louisiana due to regulatory restrictions. Users from other states can freely register, verify, and transact on the platform.
Does Coinmama offer a mobile app or trading platform?: As of now, Coinmama has neither a web-based trading interface nor a mobile application. Users can access the exchange via browser for buy/sell operations, but advanced trading tools, real-time charts, or mobile accessibility are currently lacking, making it less suitable for active traders.
Are there any rewards for high-volume traders on Coinmama?: Yes, Coinmama has a loyalty program with three tiers: Crypto Curious, Crypto Enthusiast, and Crypto Believer. Traders spending $5,000 in 90 days get a 12.5% fee discount, and those spending $18,000 in 90 days or $50,000 lifetime enjoy a 25% discount and priority support.
What countries or regions cannot access Coinmama services?: Coinmama is restricted in over 30 regions, including New York, Louisiana, Russia, Iran, North Korea, Syria, and Venezuela. These restrictions are primarily due to regulatory or geopolitical reasons. Always verify the latest list on Coinmama’s website before registering.
Does Coinmama support futures or margin trading?: No. Coinmama offers only spot trading and OTC services. It currently does not support futures or leveraged trading, though its roadmap indicates that CFD trading may be introduced in the future.
What types of crypto services are available on Coinmama?: Coinmama provides Buy, Sell, Swap, and OTC market access. Users can purchase crypto with fiat, sell it back, or swap tokens directly. However, features like staking, yield farming, or copy trading are not available at this time.
Which fiat currencies can I use on Coinmama?: Coinmama accepts 47 fiat currencies for buying crypto, including USD, EUR, GBP, JPY, and AUD. However, for withdrawals, only USD, EUR, and GBP are supported.
Can I use Coinmama to send or receive crypto like a wallet?: Coinmama is a non-custodial platform, meaning it doesn’t store user crypto. You must connect an external wallet for every purchase or sale. This provides added security but requires more user involvement in crypto handling.