Coinmama Made Easy

Bitcoin Made Easy’s review and tutorial of the Bitcoin service Coinmama.

If you don’t want to read about the benefits of Coinmama we recommend you watch this full video tutorial with your volume turned on. You can also watch this video split up into steps if that’s easier for you, just click here watch these.

Section 1 Key Features Of Coinmama
Section 2 The 4 Things You Need
Section 3 A Video Tutorial + Step-By-Step Guide

Section 1

Key Features Of Coinmama

Rated 4.5/5 By Bitcoin Made Easy

CoinMama specialize in selling bitcoins for credit card to nearly anyone in the world.

We think their fantastic service is quick and easy to use, their fees are relatively low as long as you are buying over $250 worth and they have the highest limits for buying bitcoin with credit card (they allow $5,000 per day).

You Can Buy Bitcoin With These Cards:

Countries

Coinmama cover nearly every country in the world - 226 countries in total.

Fees

The exchange fee at CoinMama is a flat $10 so the total fee varies depending on the quantity purchased.

Wallet

Unfortunately Coinmama do not have a web wallet, we recommend you use the Jaxx wallet found here.

Ease Of Use

Super easy to use on Mobile, PC and tablet.

Speed

CoinMama is quick and easy to use but once you have submitted your ID, you will need to wait for them to verify it, this can take as little as 15 minutes but much longer outside of their hours of business.

Allowances

Coinmama have the biggest allowances by far at $5,000 USD/EUR daily.

Section 2

What You Need

Using Coinmama couldn’t be more simple. Here are the 4 key things you need to start using Coinmama.

An email address

A mobile phone, desktop or tablet

Your credit or debit card

Valid identification (e.g. passport, driving license)

Section 3

Coinmama Made Easy Tutorial

Below you can find a video plus a step-by-step guide on Coinmama Made Easy.

If you wish to buy more Bitcoin than you need for your purchase (CoinMama fees reduce the more you buy), then you will need to set up a Bitcoin Wallet.

We recommend you watch this full video tutorial with your volume turned on. You can also watch this video split up into steps if that’s easier for you, just scroll down the page to watch these.

Opening an Account

Takes Approximately 15 to 20 minutes

(+ from 15 minutes to 1 day awaiting ID verification)

To create a Coinmama account just click here.

Fill in your name, email and create a password. You then receive an email from CoinMama which you need to verify by clicking the link they send you.

Now login to your CoinMama account and select ‘Verify Identity’ from the left-hand menu. First you input your Name, Date of Birth and Address. You then need to upload a photo of the front and back of your passport, driving license or national ID card.

Take a photo of your ID and upload it to your computer.

Make sure that all four corners of your ID are visible and that the photos are light, clear and in focus or they will reject your ID and the process will take longer.

You will receive a notice informing you that they have received your ID and will email you once it is confirmed.

In our experience, they are very fast to confirm IDs, usually within 15 to 30 minutes.

Please note that they do state that it can take up to 24 hours if it is outside of their normal office hours. CoinMama office hours are Sunday-Thursday 6:00-14:00 GMT (2AM-10AM EDT / 11PM-7AM PDT).

Once you receive your ID confirmation email, you will be able to buy and send Bitcoin very easily and super quick – it only takes 5 to 10 minutes!

Buying & Spending Bitcoin

Takes approximately 5 to 10 minutes

At this point, if you are buying your Bitcoin to purchase something on a webstore, you should make your order so that you know the total value of your order.

Login to your account and Select ‘Buy Bitcoin” in the top menu.

On the Buy Bitcoin page, select your preferred currency: USD or EUR.

You will see buying options from 0.5 to 2 Bitcoins for thousands of dollars –just scroll down the page until you see ‘Buy a different amount’. You can then enter the exact amount of Bitcoin you want to buy.

The page will then show you how much this amount of bitcoin will cost in USD or EUR. You can then click on ‘Buy Bitcoins’.

This page offers you payment options, select ‘Credit/Debit card via Simplex’.

Now you need to insert your Bitcoin address. If you are buying from a webstore this will be the Bitcoin payment address they have supplied you. If you have set up your own Jaxx wallet or other Bitcoin wallet then you will put in this address here using copy and paste. A Bitcoin address is an identifier of 26-35 alphanumeric characters, beginning with the number 1 or 3.

Now click on ‘Complete Payment’. A pop-up box will appear asking you to verify your Bitcoin address again, re-verify and then click on ‘Complete Payment’ again.

You are now on the Simplex Card Payment site, so check the amount they are charging is correct and then enter your address. Proceed to the next page for your card details. This concludes your payment.

You will need to open your email client and verify the Bitcoin address again by clicking on the link provided.

Lastly, you will get an email from Simplex confirming the payment request has been submitted and then another, stating it has been approved. You will also get an email from CoinMama once the whole order is completed.

If you want to check the status of your Bitcoin purchase, select the ‘my account’ tab on the top menu on your CoinMama account. It should normally show as ‘sent’.

Coinmama sends Bitcoin immediately after both the client’s payment and wallet address have been confirmed. You may experience delays outside of business hours (GMT +3).

More Questions?

Take a look at our FAQ below.

Can I sell my left-over Bitcoin?

Yes, but with a transaction fee. Most exchanges that you can buy Bitcoin at, also allow you to sell Bitcoin. From our top exchanges, Coinbase and BitPanda allow this and CoinMama is aiming to add in the near future.

Where can I find an up-to-date price for Bitcoin?

You can find a live price for Bitcoin on the CryptoCompare website https://www.cryptocompare.com/coins/btc/overview/USDYou can click on USD on that page to change the price to EUR or GBP or other national currencies (as well as other cryptocurrencies). Please note that this price will most likely be a little lower than you will buy Bitcoins for at one of our recommended exchanges, as it is the traders’ market rate.

Is Bitcoin anonymous?

To send and receive Bitcoin, you need a public address – this is the long string of around 30 characters. For every transaction, the sending and receiving addresses are publicly-viewable. Bitcoin is therefore known as ‘pseudonymous’ which means that it is not automatically known the real identity behind a Bitcoin address. However someone could potentially find out who the real person is behind the pseudonym.

How many Bitcoin can be produced?

Unlike government issued money that can be printed at will, the supply of Bitcoin is mathematically limited to 21 million coins and that can never be changed.

Why is my transaction showing as ‘unconfirmed’?

When you send Bitcoin to an address, you can check on it’s progress by entering the address into the search bar on https://blockexplorer.com/ , it will show as unconfirmed until it is verified by the network. Transactions are considered complete once they have between 2 to 6 confirmations (depending on who owns the wallet).

What do I need to verify my identity?

You will normally need a passport, driving license or national ID card. You will also need a mobile phone and an email address which you will need to verify.

Why does my identity need to be verified to buy Bitcoin?

All exchanges require ID verification as if they do not do this they could be prosecuted by the authorities for violating money laundering regulations.

Do I need to get a Bitcoin Wallet?

No. If you just want to buy Bitcoin to pay for a specific online web order then you can send bitcoin straight from the exchange when buying it and you don’t need another wallet. Also if you are using Coinbase or Bitpanda and you are storing a small amount of Bitcoin then you do not need another wallet as they provide one.However if you are buying a small amount of Bitcoin with CoinMama or Bitit then you can use a Jaxx wallet on your computer or phone and if you are storing more Bitcoin and for longer-term then we recommend buying a Ledger Nano S hardware wallet.

How long does it take for my Bitcoin to arrive at their destination address once I have bought and sent them?

Once you have sent your bitcoin, it will usually take between 10 to 30 minutes for the transaction to have full confirmation. To track the process of your transaction go to  https://blockexplorer.com/ and paste the bitcoin address in the Search bar at the top. It will show when the transaction is fully confirmed, don’t worry, on occasion, if the network is very busy, this can take up to an hour or more.

What’s the cost of buying Bitcoin?

The fees at the various exchanges vary, please see our exchange comparison table for the different fees. Coinbase is by far the cheapest offering Bitcoin purchases inclusive of card processing fee for only 4%. If it’s a new account and you sign up directly from this link, then you get a further $10 on your first $100 of Bitcoin payment, effectively bringing the cost to nothing for up to $200 of Bitcoin.

Contact Coinmama 24/7 and visit their help center Get Help