Introduction to Coinmama Review-
Scammers are finding different ways to steal your money by using Cryptocurrency. Once you are being scammed and lost your money, it gets difficult to get your money back. It is always advisable for the investors to read the reviews of the company and its background before investing with them. There are several crypto exchange companies existing in the market, but not all the companies are true and can be trusted. Many of these pretend to be the original one or acting as a legit organization by copying the other exchanges. Let us have a glance at one of the crypto exchanges known as Coinmama. Various reviews are mentioned by investors regarding the Coinmama scam. Go through its details to read the Coinmama review here.
Review of Coinmama Scam:
Coinmama is said to be the leading crypto exchange in Dublin, Ireland. The headquarter of Coinmama is located in Israel and consist of more than 2 million users globally. Coinmama claims itself to be the convenient and easy platform where the exchange of cryptocurrencies takes place. It is said that buying and selling of cryptocurrencies are safe and user-friendly. The website of Coinmama states that the company is operated by Cmama Ltd. (a regulated Money Services Business that is registered with FinCEN and FINTRAC). It claims to offer various facilities that are mentioned on its website.
The Coinmama offers Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Cardano, Litecoin, Tezos. However, there are limited currencies offered by them making it one of the limitations of Coinmama. Some of the researchers suggest that the minimum trade value is $50 to buy a cryptocurrency and $200 to sell the cryptocurrency. However, some of the information is difficult to find as it is not clearly mentioned on their website, making it difficult for the traders and investors to know about them and choose them as their trading partners.
Coinmama Scam Activities Includes:
- No mobile app is available for the functioning that restricts its user-friendly and hassle-free trading characteristics.
- Coinmama also offers high fees for credit card usage as compared to other exchanges
- It is mandatory to have a European account in order to sell your bitcoin, restricting the selling of Bitcoin.
- You cannot deposit via PayPal, American Express, or Discover.
- Transaction fees at Coinmama are comparatively higher than other exchanges.
- Limited payment options
- The longer verification process in order to purchase a large amount of crypto
Apart from all the cons presented above, there are various Coinmama scam reviews presented by various reports including a simple coin offering that offers only 10 coins to purchase. It is low, when compared to other crypto exchanges. Several complaints regarding Coinmama and its work are registered.
Is Coinmama Legit or Scam?
Even if Coinmama offers an easy platform for cryptocurrency exchanges, one should not avoid the cons of the exchange. Several negative Coinmama reviews have been received by us. The Report scam considers it as a potential scam and one should avoid trading with them in order to protect your funds. One should always go through the reviews before investing with any exchange.
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