Updated: 18 march 2024
7 minutes

The crypto market’s growth has led to an uptick in the number of exchanges. While giants like Binance, Coinbase, and Crypto.com are widely recognized, some lesser-known platforms stand out for their user-friendliness. Coinmama is one such exchange. Here are its key features:

Want to know more? This Coinmama review from Tokize has all the answers you need!


  • User-friendly platform
  • Multiple payment methods


Coinmama is an Israeli crypto exchange and one of the top platforms in the market currently. While less popular than other crypto exchanges, Coinmama is equally good. It offers its customers “fast,” “safe,” and “fun” financial services, with particular attention to beginners. 

Also, the exchange aims to be a platform where people can have control and direct access to their funds without the need for intermediaries and hidden fees. With major strides in the crypto ecosystem, Coinmama strives to deliver exceptional service to its users. 

These are its values:

  • Customer-focused
  • Simplicity
  • Growth
  • Integrity
  • Innovation
  • Teamwork
  • Results-oriented
  • Communication
  • Prosperity
  • Fun

Below, we take a look at its history and who the key players in the team are.

The Coinmama management team comprises;

  • Nimrod, the co-founder and CEO. Before founding Coinmama, he began the first Bitcoin ATM business in Israel.
  • Laurence, the co-founder. He has been working in the Bitcoin space since 2013, and his drive led him to create Coinmama.
  • Tsuf, director of R&D. He has over a decade of experience in creating and developing start-ups.
  • Maayan, the human resources manager with more than 10 years of experience in the field.

History Of Coinmama Exchange

Coinmama was created in 2013 and has been in operation for ten years. Although it lacks the notoriety of other crypto exchanges, it has steadily built momentum over the years. In 2021, it recorded a sales volume equivalent to $130 million, and currently, the company has more than 3.5 million users in 188 countries. 

Although it is an Israeli company, its headquarters is now based in Ireland at 42 Pearse Street, Dublin, D02 YX88. Furthermore, the exchange has undergone restructuring, as it was acquired by a Canadian company called Wellfield Technologies on March 24, 2022, for $3 million cash plus nearly 23 million shares for a total sum of $34.7 million. 

«We have been following Coinmama’s pioneering journey as a leading blockchain company for some time and are convinced that their nearly ten years of success in the industry and their proven expertise in regulation and operation will bring substantial value to Wellfield »  Levy Cohen PDG de Wellfield Technologies.

Now that we are aware of the backstory of the exchange let’s take a more in-depth look into what Coinmama is all about.


  • User-friendly platform
  • Multiple payment methods

The Coinmama Ecosystem

Compared to other exchanges, such as Binance or Coinbase, with unlimited features, the Coinmama exchange is quite constricted. Here, special attention is given to crypto trading. Therefore, it does not offer crypto loans, staking solutions, or crypto wallets. 

How Crypto Trading Works On Coinmama

The Coinmama exchange is limited to just ten cryptos. They are well-established, not necessarily fancy, artificial intelligence (AI) coins or meme coins like Render, Dogecoin, or Shiba Inu. The cryptos it offers belong in the top 50 coins globally per market capitalization. They are;

  • Bitcoin (BTC) ;
  • Ethereum (ETH) ;
  • Bitcoin Cash (BCH) ;
  • Litecoin (LTC) ;
  • Qtum (QTUM) ;
  • Ripple (XRP) ;
  • Ethereum Classic (ETC) ;
  • Cardano (ADA) ;
  • Tezos (XTZ) ;
  • EOS (EOS).

For Coinmama, the watchword is simplicity. To that end, it focuses majorly on crypto trading. The cryptos on its roster, while only a few, are the tested and trusted. Thus, the exchange is excellent for beginner traders.

Coinmama Academy

Coinmama strives to equip its users with the requisite knowledge and practical experience they need via an academy. This enables them to learn about the basics of the crypto market. On the academy tab, you can find articles that lecture on topics like:

  • What is an NFT?
  • What is Bitcoin?
  • What is fiat currency?
  • What is crypto staking?
  • What is a crypto wallet?
  • How do you deposit money in a Bitcoin wallet?
  • How to open an Ethereum wallet?

It also has a glossary on the following topics:

  • Bitcoin
  • Crypto wallets
  • Ethereum
  • Public key
  • Private key
  • Token
  • NFTs
  • Capitalization
  • Blockchain
  • Smart contracts
  • Challenge

Coinmama Crypto Calculator

To assist beginners even further, Coinmama provides crypto calculators. These calculators allow you to convert between crypto and fiat currency. The three available calculators are BTC, ETH, and a random crypto. For the fiat, an extensive option is allowed.

Coinmama Loyality Program

Every top business understands the benefit of ‘rewarding’ customers, and Coinmama isn’t different. It rewards its most regular users through any of these three options on the Coinmama loyalty program:

  • “Curious” crypto investors
  • “Enthusiastic” crypto investors. The fee discount is 12.5% for $5,000 spent over 90 rolling days.
  • “Believing” crypto investors. The fee discount is 25% for $18,000 spent over 90 rolling days.

Coinmama Business Program

Not just for newbies alone, Coinmama also offers an exclusive service for crypto professionals. The service is a crypto portfolio worth up to $100 million that is available for investment.

How To Trade On Coinmama?

Crypto trading on Coinmama is straightforward like most exchanges. However, you must first register and connect to a crypto wallet. Below is a breakdown of the processes;

Opening An Account

The preliminary step is to open a Coinmama account. To do this, you are expected to fill in the following details;

  1. E-mail
  2. Password
  3. Country of Residence

However, there are different account levels on the platform of which buy and sell limits are each stipulated. They are;

Level 1:

Credit card purchase limit:

  1. $5,000 and 5 orders per day
  2. $15,000 and 10 orders per month
  3. $15,000 in total

Limit of purchase by bank transfer

  1. $15,000 and 20 orders per day
  2. $15,000 and 50 orders per month
  3. $15,000 in total

Level 2:

Credit card purchase limit:

  1. $5,000 and 5 orders per day
  2. $30,000 and 10 orders per month 
  3. $50,000 in total

Limit of purchase by bank transfer

  1. $35,000 and 10 orders per day
  2. $50,000 and 50 orders per day
  3. $50,000 in total

Level 3:

Credit card purchase limit:

  1. $7,500 and 5 orders per day
  2. $40,000 and 30 orders per month
  3. $1 million in total

Limit of purchase by bank transfer 

  1. $50,000 and 10 orders per day 
  2. $100,000 and 50 orders per day 
  3. $1 million in total

For larger amounts, a level 4 exists. However, its limits are not specified and can only be provided on request.


  • User-friendly platform
  • Multiple payment methods

Verify Your Account

Once you input your necessary information, a confirmation link will be sent to your email address. This way, Coinmama can ascertain that you provided the precise email address. Once you click on it, you will be asked to provide a means to verify your identity, for example, a valid ID. Also, you will be expected to take a selfie by showing a paper containing ” Coinmama ” and the date. The valid IDs include,

  • A driving license
  • A national identity card
  • An international passport

On a side note, the copy of your documents must be high quality — with a minimum resolution of 1,000 pixels. The weight of each file must also not be more than 8 MB.

Create A Crypto Wallet

A crypto wallet – the equivalent of a bank account – is a medium for storing your crypto.  Its address (similar to an IBAN) consists of a long string of numbers and letters. However, Coinmama has no wallet, so it cannot store your coins. 

So, before you begin trading, you must create a crypto wallet. On the exchange, a tab explains the fundamentals of a crypto wallet. It further differentiates between the two significant types of crypto wallets: hot and cold. Hot wallets are mobile applications or internet extensions that store your coins online and are susceptible to cyber-attacks. The recommended ones are:

  • Zengo
  • Exodus

Cold wallets, on the other hand, resemble a USB key. They do not store your coins online and so are more secure. The recommended ones are:

  • Ledger
  • Trezor

Buying Crypto

A major advantage of the Coinmama exchange is that you can directly purchase crypto using fiat currency. You do not have to deposit funds and burden yourself with selecting the precise trading pair. All you have to do is exchange your fiat for the crypto of your choice. However, unlike in other platforms, on Coinmama, you can’t exchange one crypto for another. 

You can utilize these methods to make payments;

  • Apple Pay
  • Google Pay
  • Bank card (credit or debit card from Visa or MasterCard)
  • Bank transfer (SWIFT or SEPA)

These are the steps to buy crypto on the exchange;

  • Choose your preferred crypto 
  • Select the amount you want
  • Enter the address of your crypto wallet
  • Choose your preferred payment method

Once the payment has been made and the wallet address has been authenticated, you will receive the coins directly. The delivery period depends on what payment method you used. The funds will be available within an hour if you use a credit card,  Apple Pay, or Google Pay. Conversely, with a bank transfer, the processing time can be 24 hours (SEPA) or several days (SWIFT).

What Are The Fees On Coinmama?

Coinmama fees depend on your loyalty level – Curious, Enthusiastic, and Believer. This is how they are categorized:

Purchase of Crypto :

  • Curious: 3.90% fee
  • Enthusiasts: 3.41% fee
  • Believers: 2.93% fee

Sale of Crypto :

  • Curious: 3.90% fee
  • Enthusiasts: 3.41% fee
  • Believers: 2.93% fee

Is Coinmama Safe?

Coinmama exchange prioritizes user security. The platform offers two-factor authentication (2FA), where, upon login, a code is sent to your smartphone. This is also required when inputting your wallet address, helping to keep malicious actors at bay.

Coinmama doesn’t store your cryptocurrencies since it doesn’t have its own wallet. Additionally, personal details like card or account numbers aren’t saved on the platform.

However, no platform is immune to threats. In 2019, Coinmama was among 24 sites affected by a significant cyberattack. On February 15, hackers exploited a vulnerability, accessing 450,000 user emails and passwords according to reports Coinmama. Fortunately, users with 2FA activated faced no major risks, and no cryptocurrency was stolen. After this incident, Coinmama revamped its security measures for better protection

Regulations Of The Coinmama Exchange

A regulated exchange exudes credibility and confidence to the public, as it shows it is verified by recognized organizations. What about Coinmama?

Coinmama is operated by Cmama LTD, a regulated financial company registered with FinCEN and FINTRAC. It adheres to anti-money laundering processes and utilizes KYC or “Know Your Customer” regulations, allowing the exchange to request personal information from its customers, thus forestalling malicious intruders.


  • User-friendly platform
  • Multiple payment methods

Advantages And Disadvatages Of Coinmama

  • It is effortless to use
  • It is suitable for beginners
  • You can directly buy numerous crypto
  • It has a decade's worth of experience in the game
  • It allows only limited cryptos
  • The exchange does not offer staking solutions, crypto loans, etc.
  • Its fees are relatively high

FAQ - Frequently asked questions about Coinmama

It utilizes several security measures, such as the Know Your Customer protocol, anti-money laundering, and 2-factor authentication to safeguard funds. In addition, it is operated by a regulated company registered with FinCEN and FINTRAC. However, perfect security is never guaranteed, as it was once the target of a major cyberattack in 2019. 
It is an Israeli crypto exchange platform.  It is beginner-friendly due to its simple interface and options menu. Unlike other exchanges, it is all about purchasing crypto directly from fiat. It is also solely for crypto trading, so you will not find staking solutions, wallets, or crypto loans.
The Coinmama exchange is registered in Ireland at the following address: 42 Pearse St., Dublin D02 YX88.
At the time of this writing, you can only buy the following ten cryptos on the platform: Bitcoin (BTC), Ether (ETH), Ripple (XRP), Ethereum Classic (ETC), EOS (EOS), Cardano (ADA), Tezos (XTZ), Litecoin (LTC), Bitcoin Cash (BCH), Qtum (QTUM)
Coinmama accepts all currencies. You may have to pay fees to your country depending on the money. Furthermore, you can buy crypto directly on the platform using bank cards, bank transfers, Apple Pay, and Google Pay.
Yes, there is. It works for both iOS and Android devices.