Coinmama vs Coinbase

Comparison
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General Information

CoinmamaCoinbase
Year of foundation20132012
CountrySlovakiaUSA
LanguagesPortuguese, German, French, Spanish, Italian, Dutch
Mobile appiOS, Android

Convenience of Use

Coinmama

Coinmama exchange for buying Bitcoins or any other cryptocurrency is suitable for everyone because of its simplicity. You will need to create and confirm an account, enter your bank card details, and choose the number of desired coins to buy. No trading or cryptocurrency knowledge is required of you.

Coinbase

Coinbase’s interface is very intuitive and easy to use. Commerce is always a click or two away, with excellent website speed. The company offers fantastic mobile products for iOS and Android, which are probably the best Bitcoin exchange applications available today.

Trading Volumes and Traded Pairs

Coinmama

Coinmama only allows you to buy 10 coins, including Bitcoin (BTC) and Etherium (ETH). At Coinmama, you can use your debit or credit card to buy cryptocurrency directly from the site. When you enter your bank card details and make a purchase on Coinmama, you have the option to send the coins directly to your separate wallet.

Coinbase

Coinbase has a trading volume of 128,979,540.0. There are 78 trading pairs available on the exchange. The option to trade in pairs with fiat is not available on the exchange. Margin trading is not available. The exchange supports the following fiduciary currencies:

  • EUR
  • GBP
  • USD
  • CAD
  • SGD
  • AUD

Commission

Coinmama

In addition to the fee for using your card, you will also be charged a fee of 5.5% for each transaction you make! The exact amount of the fee may vary depending on the amount of cryptocurrency you purchase, but honestly, this system doesn’t change the overall situation. It can become very expensive if you plan to buy cryptocurrency in large amounts or on a regular basis.

Coinbase

Coinbase has no separate deposit and withdrawal fees, and the exchange charges percentage fees instead of fixed amounts. Wire transfers in the U.S. are charged at 1.49%, and funds are available within 5-7 days. Credit or debit card payments in the US, Europe, Canada and the UK cost 3.99% of the amount transferred, and the money is available immediately.

Security

Coinmama

It is a bit strange that most cryptocurrency exchanges are not regulated by any government agency, but Coinmama is different in this regard, it is registered with FINCEN in the US. This indicates that the exchange has a certain credibility and any fraudulent activity on the platform will be thoroughly investigated.

Coinbase

Coinbase offers the most robust security in the entire Bitcoin exchange market. Over 97% of coins are kept in cold wallets. The private keys used, for the authorization of cold storage transactions, are kept in fragments between the offline hard drives and the paper, in different locations with backups in case of lost pieces.

They provide two-factor authentication for logins and withdrawals, and allow for customization of the maximum limit of daily transactions. Passwords are encrypted and logged. They offer e-mail notifications and use PGP e-mail encryption. The exchange has not been hacked.

Pros and Cons

Coinmama

Pros
  • Almost all countries are accepted (including some parts of the U.S.)
  • Higher purchase limit
  • Good support
Cons
  • 3% commission
  • Some claims of fraud

Coinbase

Pros
  • Serious reputation. For all time of work, there were no significant attacks that led to the loss of money by clients.
  • Insurance of client accounts.
  • Easy-to-use platform with extensive functionality. Since the addition of GDAX, Coinbase has been on par with other professional exchanges that offer an advanced terminal for analysis and the ability to open different types of orders.
  • High level of security. Coinbase offers a lot of methods to protect customer funds and the trading platform, which virtually eliminates the possibility of funds theft.
  • Possibility to work with fiat currencies.
  • Diversified system of charging commissions with rebates.
Cons
  • A large number of complaints on the exchange on various issues.
  • Support service cannot cope with the flow of tickets.
  • Only a few cryptocurrencies are available for trading. The choice of assets is very limited.
  • Lack of leverage.
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