Coinmama Review: Is Coinmama Legitimate and Safe?
Do you wonder if Coinmama really is legit and safe? If so, read on for more information. We also cover Coinmama’s Customer Service. Coinmama, a popular cryptocurrency exchange, is registered with FINCEN (the Financial Crimes Enforcement Network). There have been reports of security breaches.
What is Coinmama?
To use Coinmama users will need to verify their identity by presenting a government-issued ID along with a selfie with Coinmama text. In some cases, the company may ask users to provide secondary identification, such as a driver’s license or passport. However, the company is careful to limit this information sharing to the minimum necessary. Coinmama is not permitted to be used in the US or other sanctioned countries.
Coinmama’s platform is simple and easy to use even for those with no prior experience in cryptocurrency exchange. The website has a 30-dollar minimum order and supports several methods of payment. Users can pay through Fedwire, Skrill, or SEPA instant. They also offer instant delivery. The Coinmama website also provides three levels of savings.
Is it legal?
You will need to prove your identity when you sign up for Coinmama. This can be done by uploading a driver’s license or other form of identification. Your payment card address should match the email address you use to verify identity. Coinmama will also ask you to provide a photo of your ID along with a note stating the date you signed up.
It also claims its website is secure. Coinmama doesn’t store credit card data online, unlike many ICOs. It also doesn’t offer a wallet service, so you’ll need to provide your own high-security wallet. Coinmama is licensed and regulated. There have been no reports that Coinmama has been hacked.
Is it Safe?
Coinmama is a bitcoin exchange that is registered with FINCEN, the Financial Crimes Enforcement Network. This agency focuses on financial crimes like money laundering and terrorist financing. It is not perfect security. There have been security breaches on the site and some users have complained about fees. It is a smart idea to use an offline wallet to protect your funds.
In addition to being a regulated exchange, Coinmama also adheres to anti-money laundering and Know Your Customer (KYC) standards. Coinmama is a member of the Financial Crimes Enforcement Network and the Financial Transactions and Reports Analysis Center of Canada.
Customer Service
Coinmama allows you to buy and sell crypto currencies. They accept both credit and debit cards for payments and you can sell your coins for a profit within minutes. Coinmama is a great place to buy and trade cryptocurrencies. However, there are some drawbacks.
First of all, you should check the location of the Coinmama headquarters before making a purchase. Next, verify that your address and Coinmama account matches. The customer service representatives at Coinmama are very helpful, and they answer questions in plain language. If you have questions or concerns, Coinmama has customer support agents available round-the-clock via email.
By completing the simple form, you can register for a Coinmama Account. You will need to enter your email, name, password, and country of residence. Coinmama will email you a link to verify your account after you sign up. After verifying your email, you can log in to your account. This process should take only 60 to 90 seconds.
Fees
Coinmama accepts many payment methods. These include credit cards, debit cards, and wire transfers. After choosing the payment method, users must enter their bank account numbers and credit card information. A confirmation link will be sent to the registered email address with Coinmama. After confirming the information, the exchange sends BTC to the address you specified. The transaction is tracked and you can see when your BTC is sent.
Coinmama is a legitimate company that is registered with the FinCEN bureau of the U.S. Treasury. Coinmama, which is not required to sign up for other users on the network, is a great alternative to Gemini. Coinmama’s other benefits include the fact that you don’t need to pay taker or maker fees and can perform crypto transactions in less than an hour. Coinmama’s best feature is its ability to not store your assets or funds, which is a great benefit for users.