Coinmama is a basic, straightforward crypto exchange that allows users to buy and sell cryptocurrencies of their choice. It is easy for beginners as well as professional traders. They can use multiple payment methods, high spending limits, and expanded product and service offerings, including the Coinmama Self-Custody Wallet. What’s more? They also get crypto rewards credit cards, crypto loans, via the Coinmama Mobile App, and an array of major crypto coins. Coinmama initially launched as a crypto exchange in 2013 but has recently introduced the Coinmama Wallet, which allows users to buy, sell, and store cryptocurrencies with intensive crypto management. We will also go into Coinmama Self-Custody Wallet specifications, the registration process, and other important topics to help users explore the platform effectively.
Coinmama Self-custody Goals
Coinmama Self-Custody operates with the following goals for their customers –
- Hold Crypto Assets Safely: Build any BTC or ETH wallet to transfer or receive crypto safely. Store BTC, ETH, and other major digital coins on Coinmama Wallet, trusted by millions of users. Note that the wallet can be secured using private keys that must be kept securely with the users.
- Buy and Transfer Crypto Assets: Using the Coinmama Mobile App or the browser version, users can purchase cryptocurrencies and quickly transfer them to the Coinmama Wallet. After finishing the registration process, users need to set up their trading accounts to start buying crypto instantly. Coinmama offers the most straightforward method of purchasing major cryptocurrencies like BTC, ETH, USDT, USDC, DOGE, XRP, ETC, LINK, LTC, and more.
- Import Wallet Hassle-free: Users can easily import crypto wallets from any app to the Coinmama platform. Users can send their coins seamlessly to the Coinmama wallet for easy crypto management. They can also transfer crypto from several crypto wallet apps to the Coinmama trading platform.
- Multiple Payment Methods: Coinmama users can buy and sell cryptos using a wide range of payment methods, including debit/credit card payments via Visa and Mastercard, instant bank transfers, Google Pay, Apple Pay, ACH, Swift, SEPA, SEPA Instant, and e-wallets like Skrill and Neteller. Additionally, transactions on Coinmama are simple, allowing traders to increase their crypto riches efficiently.
- Flexible Crypto Spending Limits: Coinmama allows easy buying of cryptocurrencies at the traders’ convenience and speed. Users can quickly increase their crypto wallet fundings with initial investments of $50. The maximum limit of crypto spending can go as high as $5 million in one transaction.
- Keys Backup: Crypto funds on Coinmama are always safe with advanced security measures. If any user loses their device or forgets the recovery phrase, Coinmama ensures that all crypto funds remain intact. However, to prevent loss of money in such circumstances, we recommend users back up their private keys to the Coinmama wallet.
- Incredible Support: Many beginners often find the crypto trading world complex. For this reason, Coinmama has prioritized customer support on the platform to provide a worry-free crypto trading experience. Coinmama’s Happy Heroes can be reached at support@coinmama.com whenever a user needs assistance or wants to provide feedback.
Specifications
The Coinmama Self-Custody Wallet and Coinmama Mobile App allow users to increase their crypto wealth by buying BTC, ETH, and other major cryptocurrencies. With a seed phrase or recovery file, users can import their current wallets into Coinmama. This Coinmama review recommends users keep their BTC and other crypto tokens in a single location to take full advantage of seamless crypto transfers. Coinmama Wallet offers a secure place to manage crypto wallets, allowing users to manage their private keys and take possession of the cryptocurrencies.
Available on Both Platforms
The Coinmama wallet is available on both Google Play Store and App Store.
The Coinmama Mobile App was launched on 21st November 2022 and was updated on 7th Feb 2023 on Google Play Store. The updated version on both platforms provides an improved overall wallet experience with fast, easy, and secure features.
App Store: https://apps.apple.com/ie/app/coinmama-crypto-wallet-app/id6443739884
Google Play: https://play.google.com/store/apps/details?id=com.coinmama
Setting Up a Wallet Account
The Coinmama Self-Custody Wallet and exchange can be easily downloaded and installed on all devices from Google Play Store or Apple App Store. Creating a new wallet on Coinmama gives a brand-new and unique self-custody crypto wallet controlled by the users.
Follow the easy steps mentioned below for setting up a wallet account on Coinmama:-
- Choose Wallet Type: To set up a Coinmama wallet account, users must either create a new crypto wallet or import an existing wallet account to Coinmama.
- Recovery Phrase: For security, users need to record a Recovery Phrase of 12 words. It is crucial to keep the phrase secure since it will be required in the future. Enter Confirm Recovery Phrase and re-enter the 12 words.
- Secure and Download the Recovery ZIP file: Users need to enter a new password and confirm it by tapping on Download Recovery Archive File. Automatically, a file named BackupPhrase.zip will be ready to download. Users must record their passwords securely by saving the ZIP file to their device storage, copying it to their clipboard, or using the share feature to send it to a secure place or enter Skip Download. Users must go through a biometric authentication step to complete the registration process and access the crypto wallet secured by their device’s authentication.