RATE Group | Step-by-Step Guide in Buying Bitcoin with Coinmama
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Step-by-Step Guide in Buying Bitcoin with Coinmama

12 Aug Step-by-Step Guide in Buying Bitcoin with Coinmama

Posted at 14:49h in Bitcoin News by

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Coinmama was founded in 2013 with the mission to make cryptocurrency purchases fast and easy for users. It became popular as one of the earliest platforms allowing bitcoin purchases using credit card. This may sound absurd but most platforms do not allow purchases using credit card as there is very high fraud rates with credit card purchases.

Coinmama currently supports the ability to buy cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, XRP, QTUM and Cardano. Unlike other services, Coinmama does not have a built-in wallet. This means that if you wish to purchase from Coinmama, you should already have your own cryptocurrency wallet. Coinmama also does not have the ability for users to sell cryptocurrencies.

Due to the high risk of allowing users to buy cryptocurrencies using credit card, Coinmama charges a very high fee relative to other platforms. Coinmama charges a trading fee of 5.9% and an additional 5% payment processing fee. You…

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