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Coinmama Review: A Beginner-Friendly Platform to Buy Crypto With a Credit Card

Review Updated
Dana Sitar
Cole Tretheway
By: Dana Sitar and Cole Tretheway

Our Cryptocurrency Experts

Ashley Maready
Check IconFact Checked Ashley Maready
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Coinmama is a basic, easy-to-use cryptocurrency exchange where you can buy a small selection of cryptocurrencies. It's notable for allowing purchases with a credit card, but there are also other payment options available, including bank account transfers and payment apps. Unfortunately, fees can be very expensive. Read our full Coinmama review to see if it's right for you.

Ratings Methodology

Bottom Line

Although it's a user-friendly place to buy crypto, Coinmama is too costly and lacks too many features for long-term use.


0.99% to 3.9% commission fees; other fees may apply

Account Minimum:

$5 purchase minimum

Full Coinmama review

This cryptocurrency exchange is a good fit for: People who want a convenient place to occasionally make small crypto purchases.


  • Easy way to buy crypto
  • Multiple payment options
  • Fast verification


  • High fees
  • No wallet
  • Limited features
  • Mediocre educational content
  • Small cryptocurrency selection

Top perks

Easy way to buy crypto

The best thing about Coinmama is how beginner-friendly it is. To buy crypto, simply plug in the amount you want to spend, and then provide your payment method and crypto wallet address. It also allows you to sell Bitcoin (BTC).

Multiple payment options

Another convenient part of Coinmama is that it accepts quite a few different payment methods. Available methods depend on the user's location. For users in non-restricted areas of the United States, accepted payment methods are:

  • Credit/debit card
  • Apple Pay
  • Google Pay
  • ACH transfer

Coinmama isn't able to serve the entire United States yet. In some states, it offers service by a third-party partner, and in three states, Hawaii, New York, and Louisiana, it's not available at all.

Fast verification

Like any licensed crypto exchange, Coinmama requires that clients go through identity verification. It's a quick process. First, you fill out a form with some basic information. After that, you need to write "Coinmama" and the day's date on a piece of paper, and then snap a selfie with that paper and your ID to upload.


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What could be improved

High fees

The biggest flaw with Coinmama is how expensive it is. It charges commissions of 0.99% to 3.9%, depending on how much you buy or sell on the platform. There's also a 3.24% to 3.34% fee for payments made by credit card, debit card, Apple Pay, or Google Pay.

These fees far exceed what quality exchanges charge. If you're planning to invest in cryptocurrency, Coinmama costs too much to be a good option.

COMPARE OPTIONS: Check out The Ascent's Best Cryptocurrency Apps and Exchanges.

No wallet

Coinmama doesn't provide any type of crypto storage. When you place a buy order, you need to provide a wallet address to receive the cryptocurrency. Since cryptocurrency transactions are irreversible, it's very important to provide the correct address for your order.

This isn't necessarily a huge drawback. One of the most common pieces of advice for safely storing cryptocurrency is to keep it in your own wallet, not on an exchange.

It's one of the few inconvenient parts of using Coinmama, though. Other exchanges at least give you the option of crypto storage, allowing you to jump right in and make a purchase. With Coinmama, you'll need to set up a wallet first.

RELATED: Best Crypto Wallets

Limited features

The main things you can do on Coinmama are buy certain types of cryptocurrency and sell one of them (Bitcoin). Compared to other exchanges, Coinmama is light on features.

It also doesn't have any way to earn interest on your cryptocurrency. Several exchanges offer either crypto lending or crypto staking programs, two popular ways to grow your holdings.

But as of February 2024, Coinmama users can swap a handful of currencies, including Ethereum, for 500 or so smaller currencies. Coinmama claims that users will soon be able to stake digital coins and trade cryptocurrencies for securities.

Interested in crypto staking? Read our guide to the Best Crypto Staking Platforms.

Mediocre educational content

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.

Alternatives to consider

If you want low fees: Robinhood lets users trade over a dozen cryptocurrencies, including Bitcoin, and it charges no commissions. Most brokers do, which places Robinhood squarely in the "affordable" category. Safety-wise, most coins are held in cold storage for extra security.

If you want a secure crypto storage option: Coinbase has excellent security and keeps over 98% of its clients' crypto offline in cold storage. Those who want even more protection can use the exchange's vault service, which is available to clients free of charge.



Limitations Apply

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Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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$0 for stocks, ETFs, options, and cryptocurrencies
Variable fees (Coinbase), 0%-0.80% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
Next Steps

How Coinmama works

Coinmama is a straightforward exchange where you can buy several cryptocurrencies and sell Bitcoin. Accepted payment methods include credit and debit cards, Apple Pay, Google Pay, and ACH transfers.

To use Coinmama, you need to register for an account and verify your identity. Once you're verified, you can buy crypto with a credit/debit card, Skrill/Neteller, or a bank transfer.

There are maximum limits to what you can purchase via each payment method:

  • Debit/Credit: $20,000 per transaction.
  • Skrill/Neteller: $200,000 per transaction, up to $200,000 daily.
  • Bank transfer: $10,000 per transaction, up to $1,000,000 monthly.

Coinmama doesn't store your cryptocurrency for you. During a purchase, you'll need to enter the crypto wallet address where you want to receive your order.

Fees overview

Coinmama charges a service fee, network fee, and payment processor fee, depending on your payment method.

The table below includes the fees for U.S. investors on Coinmama.

Payment method Fee
Credit/Debit Card 3.24%-3.34%*
Skrill 4.19%
Neteller 4.19%
ACH 1.89%
Source: Coinmama

Coinmama offers discounts on commissions through its loyalty program. There are three loyalty levels. The first is the default level, and the next two have spending requirements. In addition to commission discounts, they also get you faster support.

Loyalty Level Commission Discount Spending Requirement
Crypto Curious N/A N/A
Crypto Enthusiast Up to 10% $5,000
Crypto Believer Up to 18% $18,000
Source: Coinmama.

Cryptocurrency selection

Coinmama lets you buy over a dozen cryptocurrencies, which is much less than quite a few other exchanges. Its roster includes market leaders Bitcoin and Ethereum (ETH), along with a mix of some other big coins and a few mid-size ones.

If you want to invest in a variety of cryptocurrencies, then you'll probably need to look elsewhere. There are a lot of big cryptos you can't get on Coinmama, including:

Is your cryptocurrency safe with Coinmama?

Coinmama is different from most exchanges in that it doesn't store cryptocurrency for its users. It sends cryptocurrency to the wallet address provided during the purchase process. Since orders go to a user's own wallet, keeping that crypto safe is ultimately the responsibility of the user.

For buying crypto, Coinmama is a secure option. It starts with an identity verification process, which helps protect against fraudulent accounts. It offers two-factor authentication (2FA) to prevent unauthorized account access. Coinmama also doesn't store credit or debit card information in its system.

Coinmama is right for you if:

Our Cryptocurrency Experts