How to buy bitcoin on coinmama
Setting up your Coinmama account
Before you can buy Bitcoin online with Coinmama, you need to set up your account. Youâll need to first register your email address and then get verified for purchase. Coinmama verifies all of its users for compliance with regulations and in accordance with its risk management policy.
For a fast and smooth verification process, gather your government-issued identification card such as a driverâs license or passport, your smartphone, and a pen and paper.
Note: for US customers, because we do not serve all US states, youâll need to upload an ID that shows your address, such as a driverâs license or non-driverâs ID card.
Step 1 â Create Your Coinmama Account
1. Head to the main corporate header menu and select the light blue âSign Upâ tab at the top right (or click here). Note: if you already have an account, just sign in via the âLog Inâ button with your existing login details (or click here). 2. Enter your email, password, first name, last name and your country of residence. 3. Look for an email from Coinmama asking you to confirm your account. Click the link in the email to complete the registration process. ** Note: for more information on how to create an account with us, click here.
Step 2 â Get Verified for Purchase
1. To purchase bitcoin (BTC), you first need to become verified. 2. Itâs necessary to enter your personal information and upload your ID or passport, plus various other documents depending on which level of verification you wish to reach. Our verification team works 6:00-23:00 UTC. If everything looks ok, you should be verified in about fifteen minutes during working hours, or as soon as weâre back at our desks. If we have a question about your documents or need more information, weâll let you know. Once your account is verified, youâre ready to buy Bitcoin! **Note: for further help with account verification, please click here.
Step 3 â Place your first order
1. Once signed in and verified, click the âBuyâ button and select âBitcoinâ. 2. Next, choose the amount you would like to buy. You can select a package, or enter the fiat amount or crypto quantity youâd like to buy of up to roughly $5,000 (as of the time of writing) for card purchases or $15,000 for wire transfer purchases. 3. Supply your Bitcoin wallet address. If you do not have a wallet yet, download the new Coinmama Wallet App today! Once you complete the initial setup on there, you will have access to your 27 to 34 character BTC wallet address. The address you enter is where weâll send the coins which you buy. You can re-use this address for subsequent purchases or get a new one from your wallet, at your discretion. Make sure you are copying your BTC wallet address, not the address for any other coins (ETH, DOGE, etc.), as this can result in a loss of assets. 4. Then, select the âGo to Paymentâ button.
Step 4 â Complete your Checkout
1. Select your payment method. Users worldwide can choose to buy bitcoin with a credit card, debit card, bank transfer and now Apple Pay. 2. Enter your payment details and click the âBuyâ button. Note: For card purchases, kindly note that only cards issued by VISA or MasterCard are accepted. As for wire transfers, they usually take 1-2 business days to post. This means that when paying via wire transfer, you will get the rate at the time your money arrives at our account. This means that during times of high price volatility, you may get a rather different Bitcoin amount (either more or less) than expected. Once payment has been made, our BTC transaction to your walletâs address then needs to be confirmed by the Bitcoin network. In approximately 10 minutes, a Bitcoin payment will be broadcast from Coinmama to the Bitcoin address you supplied in Step 3, point 3. Note that during times of especially high traffic, your transaction may take longer than normal to appear as confirmed within your wallet. Ordinarily, the transaction will be confirmed within 10 minutes. For large amounts, this might take a little longer (up to an hour).
The next step is to send it to your e-coins wallet address