The Israel-based Bitcoin broker Coinmama has become really popular among the Bitcoin traders like BitPanda and SimpleFX, who want to buy Bitcoins safely and quickly. Over the course of 3 years, the company has managed to gain quite good market traction and is among the top the Bitcoin brokers around the world. Initially, users could buy Bitcoins from Coinmama using only Western Union Money Transfer. However, the company later introduced the use of credit and debit cards as well. During the initial few months, the company used to charge a very high transaction fee of almost 22%, which was a big turn-off for many Bitcoin traders. All this has changed with the introduction of credit/debit card as the transaction fees have come down considerably.
Coinmama supports all the major countries around the world, including the US, UK, China, Germany, Russia, Brazil, and Israel. In fact it has the widest range when it comes to supporting transactions in different countries.
If you’re buying Bitcoins worth less than $150 then you don’t even have to upload your photo identity or any other ID proof. However, users who intend to buy Bitcoins higher than $150 will need to furnish Photo ID and undergo identity verification.
Limits & Liquidity
Among all the Bitcoin brokers accepting credit cards around the globe, Coinmama offers the greatest buying limits. Users can buy Bitcoins up to $5000 every day and up to $20,000 every month.
Coinmama facilitates instant transactions when you purchase Bitcoins. Thus, you can expect to receive your Bitcoins within a few minutes of a successful purchase. However, you might have to spend around 10 minutes for verification.
When it comes to reputation, there are not many Bitcoin brokers that can match up to Coinmama as it’s quite an old Bitcoin broker. The company charges a fee of around 6% on every transaction, which is quite high compared to its competitors. Users can expect instant e-mail support offered by a dedicated customer support team.
- Coinmama offers its service in all the major countries around the world
- There is a very high limit on Bitcoin purchase using a debit or credit card
- The customer service team at Coinmama is prompt as well as responsive
- The transaction fee of 6% is quite high and at times unaffordable for many traders
Coinmama Affiliate Program
Anyone can join the Coinmama affiliate program to earn some quick Bitcoins by referring customers to buy Ethereum and Bitcoin. Affiliate marketers can earn at least 15% commission on all their referrals, which includes all repeat purchases as well. Bitcoins earned by an affiliate is transferred to the wallet on demand or every two weeks. There’s no limit on the earnings as affiliates can refer as many customers as they can while earning Bitcoins as commission for each successful referral. Payouts are carried out only when at least 3 different users place three successful orders.
Commissions Rate: 15% for each referral sale
Payout Frequency: Every 2 weeks
Minimum Eligibility for Payout: 0.1 BTC
Referral Reports: Partial.
Coinmama Affiliate Review
If you’re a bigger player in the game then this site may be for you. With extremely high daily limits and great customer support they are becoming one of the bigger players out there. The only issue we have is their high fees of 6%, they need to work on getting that down a few points. As an affiliate, we strongly recommend jumping on board. With an unlimited 15% commission structure, payouts every 2 weeks and very few complaints it’s a win win for both you and them.