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The platform offers a total of 8 cryptocurrencies

2020.06.19

Coinmama was founded in Israel in 2013 and has many years of experience in trading cryptocurrencies. The platform is owned by NBV International s.r.o., registered in Slovakia and a subsidiary of New Bit Ventures Ltd. #514907880. Both companies are regulated companies registered with FinCEN as Money Service Businesses. While the transactions are carried out by NBV International s.r.o., they are carried out by New Bit Ventures Ltd.

Since the launch of the platform, the user base has grown to over 1.3 million customers in over 200 countries, making it one of the largest cryptocurrency merchants in Europe. Coinmama exclusively provides a broker service for the purchase of cryptocurrencies. This means that Coinmama sells the cryptocurrencies directly to you, but does not offer any other services.

In contrast to classical cryptocurrency exchanges, where the platform acts as an intermediary between buyer and seller, Coinmama only sells coins such as Bitcoin and Ethereum and acts as a direct contractual partner in the purchase. The big advantage of the broker service is above all that the process is very simple and fast for the customer. However, the customer must already install a wallet during the purchase in order to be able to send the cryptocurrencies. Coinmama does not offer a wallet service.

The platform offers a total of 8 cryptocurrencies. Compared to other cryptocurrency exchanges, Coinmama thus has a comparatively small selection of cryptocurrencies:Since there is no “central bank” that centrally determines the price of cryptocurrencies, every exchange and every broker has the possibility to set its own price.

Author : Jake Simmons