Coinmama Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Regularly expanding pool of cryptocurrencies, five fiats available for trading, many popular deposit and withdrawal options, profitable referral program, trading commissions can be reduced through the loyalty program and rebates from the Traders Union, no investment
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Regularly expanding pool of cryptocurrencies, five fiats available for trading, many popular deposit and withdrawal options, profitable referral program, trading commissions can be reduced through the loyalty program and rebates from the Traders Union, no investment
Our Evaluation of Coinmama
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Coinmama is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.01 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Coinmama clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Coinmama is one of the oldest European crypto exchanges. The company’s activity is transparent, it offers favorable terms of cooperation for novice and experienced traders. The trading terminal in the browser and the mobile application have simple and convenient functionality. The most popular cryptocurrencies and tokens plus five fiat currencies are available for trading. Clients can promptly deposit and withdraw funds by any means, including bank accounts and cards. The exchange is not suitable for investors, since the only passive income option available to its users is a referral program. Note that the site does not have the lowest trading commissions, but they can be reduced through a loyalty program with three levels.
Brief Look at Coinmama
The Coinmama exchange is a platform for buying and selling cryptocurrencies and coins. Bitcoin (₿), Ethereum (Ξ), BitcoinCash, Ripple, Cardano, and other popular altcoins are traded on the exchange. Fiats are available in US, Canadian and Australian dollars, British pounds, and euros. Funds can be deposited and withdrawn through any channel, including credit and debit cards, bank accounts, and electronic payment services. Exchange clients receive a free multi-currency wallet at their disposal. Trading is carried out through the TradingView trading terminal in the browser and the mobile application. The advantages of the exchange are a low entry threshold, a high-speed platform, and instant transactions. There is a standard referral program, and there is no investment. Commissions for trading operations are average for the market, and they decrease with an increase in trading volume.
- All the most popular cryptocurrencies and coins are traded on the platform;
- There are transactions with five fiat currencies including USD and EUR;
- Optimized TradingView terminal for comfortable trading;
- The exchange is characterized by high-speed transactions;
- Simple registration and accelerated data verification process;
- The exchange has official registration and operates under a license;
- Loyalty program allows you to significantly reduce the trading commission;
- Referral program with payments of 30% of referral commissions;
- Mobile trading apps for iOS and Android.
- No investment solutions;
- No demo accounts;
- No call center.
TU Expert Advice
Financial expert and analyst at Traders Union
The Coinmama cryptocurrency exchange was launched in 2013. Their headquarters are in Ireland. The company is registered in the United Kingdom and is subject to the financial laws of that country. There is no evidence of fraud or other forms of violation of the law.
There were no unresolved conflicts with clients or court cases. The exchange fully fulfills its stated obligations.
Being one of the oldest crypto exchanges in Europe, Coinmama uses the standard TradingView platform without modifications as a browser terminal. Advanced users can use the API features. The mobile application is available for all devices, it is an adapted browser terminal with customization options.
The main advantages of the exchange are a lot of cryptocurrencies, large trading volumes, and the presence of crypto-fiat pairs. Fiats can be freely deposited and withdrawn by any means. One more conceptual feature of the exchange is its high-speed tractions. Even verification (confirmation of personal data) takes no more than a day. Transactions go through instantly. During testing, the experts did not find any bugs, errors, or other technical shortcomings.
Among other shortcomings, they noted the lack of investment programs and specialized solutions for beginners, namely, the absence of demo accounts. According to the results of comparative analysis, the Traders Union’s experts cannot say these points are real disadvantages of the exchange, even though the platform is not suitable for investment. Also, traders should pay attention to significant trading commissions, which can only be reduced by a large trading volume and rebates from the Traders Union.
Coinmama Summary
| 💻 Trading platform: | TradingView (in browser) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, USD, EUR, GBP, CAD, AUD |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, e-wallets and crypto-wallets |
| 🚀 Minimum deposit: | 1$ |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies, USD, EUR, GBP, CAD, AUD |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Regularly expanding pool of cryptocurrencies, five fiats available for trading, many popular deposit and withdrawal options, profitable referral program, trading commissions can be reduced through the loyalty program and rebates from the Traders Union, no investment |
| 🎁 Contests and bonuses: | Yes, bonuses from the Traders Unionare |
To start trading with the exchange, you must go through the registration and verification procedure. In the case of Coinmama, it takes significantly less time than with most competing exchanges. After confirming personal data, the client of the platform gets access to its functionality without restrictions. There is no minimum deposit, but there are minimum transaction amounts for each pair. The client regulates his financial policy on his own. The exchange does not provide leverage or loans, so the trader relies exclusively on his own budget when trading. Technical support can be contacted by email or through the ticket system on the website. The technical support of this trading platform is known for prompt and detailed answers, it works without breaks and days off.
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Commissions and fees
The standard seller commission is 3.9%, and the standard buyer commission is 3.81%. With the increase in trading volumes and the receipt of the second level in the loyalty program, the fees are reduced to 3.41% and 3.34%, respectively. To achieve this, the trading volume of the exchange client for the last 90 days must be at least 5,000 USD.
With a trading volume of 50,000 USD within 3 months, the exchange client receives the third level in the loyalty program. The seller’s commission at the third level is 2.93%, and the buyer’s commission is 2.86%. There are no other fees or conditions. Additionally, the commissions can be reduced only by bonuses in the form of rebates from the Traders Union.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | up to 3.9% per order | Yes |
The exchange does not charge deposit fees. Withdrawal fees do not depend on the amount of funds withdrawn, the level of customer loyalty, or other factors. They are fixed and differ only for specific assets. You can learn more about this in the FAQs section under the label Buy and Sell.
| Broker | Average commission | Level |
|---|---|---|
|
$10 | |
|
$20 | |
|
$0.1 |
Investment Options
Investment Programs, Available Markets, and Products of the Crypto Exchange
This cryptocurrency exchange does not offer investment solutions to private clients. Platform users can only earn on the active purchase and sale of cryptocurrencies and coins. Of the options for passive income, only a referral (affiliate) program has been implemented. For this reason, the exchange cannot be recommended for cooperation with private investors (corporate investment is available on individual terms).
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Coinmama’s referral program
This crypto exchange uses a standard referral program. Any registered and verified user can become a member. To do this, find a referral link in your user account and place it on third-party resources, on forums, on personal blogs, and on comments on information sites, you can have correspondence in instant messengers. The exchange does not set limits.
Each user who registers with the exchange using such a link becomes a referral (partner) of its owner. The link’s owner will receive 30% of each referral’s trading commission. Payouts can be made in BTC, USD, EUR or NIS at the option of the link’s owner.
The program is unlimited, that is, the referral retains its status all the time that he trades on the platform and brings stable income to the owner of the link which he used to register. An exchange client can have an unlimited number of referrals. Detailed information on referrals and payouts is available in the user account.
User Satisfaction