June 17, 2021

Coinmama vs Coinbase

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Coinbase and Coinmama are popular cryptocurrency trading platforms available to users all over the world. Which is right for you? Read on to find out.

Coinbase and Coinmama are two names synonymous with easy crypto trading.

They both:

  • Are available in hundreds of countries
  • Offer popular cryptocurrencies, like Bitcoin and Ethereum
  • Feature high-level security to keep your holdings safe

Which platform is best for your trading needs?

 CoinmamaCoinbase
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Coinmama

Coinbase

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Benefits and Features

Countries Supported
190
Over 100
Fiat Currencies Supported
USD, EUR, GBP, AUD, CAD, JPY
USD, GBP, EUR
Digital Wallet
No
Yes
Transaction FeeBuy: up to 3.90%; Sell: 0.90% - 1.90%Greater of Minimum Flat Fees or Variable Fees (1.49%+) by Location and Payment Method:
Minimum Flat Fees
  • < $10: $0.99
  • $10.01 - $25: $1.49
  • $25.01 - $50: $1.99
  • $50.01 - $200: $2.99
Copy Trading
No
No
Limit Orders
No
No
Margin Trading
No
No
Spread
2%
0.50%
Interest Accounts
No
USDC only, 1.25% APY
Crypto Loans
No
Invitation only
Bank Account Purchase Fee
Free
1.49%
Debit Card Purchase Fee
5% added express fee
3.99%
Credit Transaction Fee
5% added express fee
2%
Mobile App
No
Yes
Wire Transfer FeeOnly available for orders over $50,000
$10 ($25 outgoing)
SEPA Bank Transfer Fee
Free
Free (€0.15 out)
Other FeesSwift bank transfer: £20 (~$27.5) fee for orders under $1000Instant Card Withdrawal: up to 1.5% + minimum fee of $0.55
Address Allowlisting
No
Yes
Anonymity
No
No
Biometric Login
No
Yes
Cold Storage
No
Yes
Insured
No
USD balances FDIC insured up to $250k
Maximum Trading AmountLevel 1 Account: $15,000 / day; Level 2 Account: $50,000 / day; Level 3 Account: $1,000,000
Unlimited
Two-Factor Authentication
Google Authenticator or Authy
SMS or Google Authenticator
 Visit SiteVisit Site

Coinmama: Pricing information from published website as of 04/13/2021.

Coinbase: Pricing information from published website as of 04/13/2021.

It comes down to the features, fees, security, and other important factors. We discuss all of these (and more) in our detailed review below.

What are Coinbase and Coinmama?

Coinbase
Coinbase is a San Francisco-based cryptocurrency exchange founded in 2012. When they started, their goal was to allow traders to buy and sell Bitcoin through bank transfers.

Since then, their business has grown to support over 50 cryptocurrencies in over 100 countries around the world.

Coinbase is known for being beginner-friendly, at the price of higher-than-average fees. Those fees can be avoided in part by signing up for their more expert-focused app, Coinbase Pro.

You can buy, sell, and trade crypto, access useful market data, and manage your account through either the app or their desktop site.

Coinbase makes their money through trading fees.

Coinmama
Currently headquartered in Dublin, Ireland, Coinmama is a non-custodial cryptocurrency broker founded in 2013. They facilitate trades but never hold your coins.

Coinmama has over 2.7 million active investors and is available in 190 countries worldwide. They let users start trading major cryptocurrencies quickly via bank transfer, debit, and credit card. Coinmama is also the first crypto exchange to accept Apple Pay.

They don't have a mobile app, meaning traders must use their desktop site. Since Coinmama is non-custodial, you'll need your own crypto wallet before you start trading.

Coinmama also makes their money through fees.

Pros and Cons

Want the quick details? Review these pros and cons of Coinbase and Coinmama before signing up.

Coinbase Pros and Cons

  • Beginner-friendly
  • Wide range of currencies
  • Widely available
  • Secure
  • High fees
  • No private keys
  • No phone support

Choose Coinbase if: You're brand-new to crypto investing; you want an easy-to-use platform; you want to buy more obscure coins

Download: App Store, Google Play

Coinmama Pros and Cons

  • Easy to use
  • Available all over the world
  • Non-custodial exchange
  • Strong customer service
  • Very high fees
  • Less than optimal security
  • No mobile app

Choose Coinmama if: You want superior customer support (and are willing to pay higher fees for it); you plan to store your crypto in a wallet

What Cryptocurrencies Do They Support?

Coinbase
Coinbase offers 54 cryptocurrencies to buy and sell, and the list is constantly growing.

  • BTC, ETH, ADA, UNI, LTC, BCH, LINK, USDC, XLM, FIL, WBTC, EOS, AAVE, ETC, MKR, ATOM, XTZ, ALGO, MATIC, COMP, DAI, DASH, ZEC, MANA, ENJ, SNX, GRT, YFI, BAT, SUSHI, UMA, ZRX, BNT, OMG, CGLD, ANKR, REN, 1INCH, CRV, KNC, LRC, STORJ, OGN, BAL, REP, SKL, NKN, CVC, BAND, NMR, NU, FORTH, OXT, DNT

Coinbase supports transactions in the following fiat currencies:

  • USD, GBP, EUR

Coinmama
Coinmama currently supports 8 major cryptocurrencies.

  • BTC, BCH, ETH, ETC, ADA, LTC, XTZ, XRP

Coinmama supports transactions in the following fiat currencies:

  • USD, EUR, GBP, AUD, CAD, JPY

Transactions may be possible in other fiat currencies after an exchange fee charged by the user's bank.

Where are They Available?

Coinbase
Coinbase is available in over 100 countries with different services depending on where you are:

RegionBuy, Sell and ConvertBuy and Convert
North AmericaThe United States, CanadaMexico
EuropeAndorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia Finland, France, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Monaco, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United KingdomN/A
OceaniaAustralia
South AmericaN/AChile
AsiaN/ASingapore

All other supported countries offer conversion services only. The full list is available on Coinbase's supported countries page.

Coinmama
Coinmama is one of the most widely available cryptocurrency exchanges, accessible in 190 countries worldwide.

It is currently not available in the following regions:

  • Iran, North Korea, Cuba, Syria, and the Ukrainian/Russian Crimea region.

Features

Let's explore each platform's features in detail.

Cryptocurrency Exchange:
Coinbase's exchange allows for a range of transactions:

  • Buy crypto using fiat currency
  • Sell crypto for fiat currency
  • Convert one crypto to another
  • Send crypto to an external wallet
  • Receive crypto from an external wallet

The exchange also allows users to keep up with recent news, track stats, see historic prices, and read brief summaries on each cryptocurrency. They even offer limited investment advice.

It's a solid place for those looking to expand their crypto knowledge as well as trade it.

Your Coinbase account can be funded via ACH bank transfer or wire transfer, and you can make credit and debit card purchases as well.

Coinmama's exchange is unique in that it's non-custodial, meaning they never hold user funds.

You'll never have to worry about withdrawing your money or your coins because you'll always have them. This has big implications for security, discussed in more detail further down.

Coinmama only supports two transaction types:

  • Buy crypto using fiat currency
  • Sell crypto for fiat currency

As such, it's extremely easy to use—one of the simplest in the industry, which may appeal to new investors. However, they don't offer any sort of market research or statistical data.

Transactions can be executed via credit card, debit card, Apple Pay, SWIFT bank transfer, and SEPA bank transfer in the EU.

We detail the fees incurred in trading with both Coinmama and Coinbase in the section below this one.

Earning Interest:
Currently, Coinbase offers 1.25% APY on deposits of USD Coin (USDC).

In April 2021, they started allowing select users to stake Ethereum for returns of up to 6%. For those still unable to do so, there is a waitlist to get started.

Since Coinmama does not hold your cryptocurrency, it does not have an interest-earning feature.

Premium Subscriptions:
Coinbase Pro is a separate app geared toward more experienced investors.

It's free to download and has a much cheaper fee structure than the normal Coinbase app. It offers more advanced market data and expert features like limit orders, which Coinbase does not.

It may be intimidating to new users, however, who may opt for the normal Coinbase app instead.

Coinmama Business, which allows businesses to make purchases of $100,000 USB (or more) at a time, may be Coinmama's closest offering to Coinbase Pro.

However, joining Coinmama Business is (obviously) only available to businesses. To join, you must complete the application in the link above.

Borrow:
Coinbase has a program that allows users to borrow against the value of their holdings by taking crypto-backed loans. Currently, it is invite-only.

Coinmama does not offer a cypto-lending feature.

The Takeaway
Overall, Coinbase has a much wider range of options than Coinmama, including more currencies, a mobile app, and limited banking services. That said, there are other important factors to consider, like fees (more on this below).

What Fees Do They Charge?

Fees are an important factor in choosing an exchange. Here we'll look at Coinbase, Coinbase Pro, and Coinmama.

Coinmama
These are Coinmama's base fees:

Spread:
2% above the average listed on services like TradeBlock XBX

Transaction Fees:
Up to 3.90% on buy transactions
Up to .90% on sell transactions
5% momentum fee for debit/credit transactions

Transfer Fees:
No fee for SEPA Bank Transfers
SWIFT Bank Transfers are £20 (~$27.50) fee for orders under $1,000

Coinmama also uses a tiered loyalty program that offers discounts on their high base fees. The tiers are:

  • Crypto Curious:
    • No benefits or requirements

  • Crypto Enthusiast:
    • Requires a cumulative purchase amount of $5,000 USD over a rolling 90-day period
    • Save 12.5% on final price
    • Receive fast-tracked customer support

  • Crypto Believer:
    • Requires a cumulative purchase amount of $18,000 USD over a rolling 90-day period, or lifetime purchase amount above $50,000 USD
    • Requires having purchased with Coinmama for at least 30 days
    • Save 25% on final price
    • Receive queue-less customer support

The combination of Coinmama's market rate, plus commission fees, plus the debit/credit momentum fee puts their rate at a high 10.90% for purchases, which is extraordinarily high in the crypto space.

Even with the loyalty discounts, which come at significant expense, Coinmama's fees may turn out to be higher than Coinbase's.

Coinbase
Coinbase users pay higher fees for an easy-to-use interface:

Deposit Fees:
From 1.49% - 3.99% (Varies by country and payment method)
ACH Transfers are free
Wire Transfers are $10

Withdrawal Fees:
From $0.00 - $25, or as high as 2% (Varies by country and withdrawal method)
ACH Transfers are free
Wire Transfers are $25 outgoing
Credit Transaction Fees are 2%

Trading and Transaction Fees:
From 0.5% - 4.5% (Varies by payment method, cryptocurrency type, and transaction size)
Spread is 0.50%
Buy/Sell Transaction Fees are tiered from $0.99 to 1.49%
Bank Account Purchase Fees are 1.49%
Wallet Purchase Fees are 1.49%
Debit Card Purchase Fees are 3.99%
Crypto Conversion Fees are 2%

Coinbase Pro
Coinbase Pro is relatively inexpensive, and geared toward experts:

Deposit Fees:
From $0.00 - $10 (Varies by country and payment method)
ACH Transfers are free
Wire Transfers are $10

Withdrawal Fees:
From $0.00 - $25 (Varies by country and withdrawal method)
ACH Transfers are free
Wire Transfers are $25 outgoing

Trading and Transaction Fees:
0.5% (Varies by payment method, cryptocurrency type, and transaction size)
Buy/Sell Transaction Fee is 0.50%
Bank Account Purchases are free
Wallet Purchases are free

The Takeaway
For the most affordable transactions, Coinbase Pro is almost certainly the best choice for most users. For those interested in a simpler interface, the basic Coinbase platform will provide it at a higher price that still comes in cheaper than Coinmama.

Security

Coinbase offers several security features to keep your assets safe:

  • Insurance
    • Independent insurance for coins lost to cybersecurity breaches or employee theft, up to $250,000
    • FDIC Insurance for USD balances up to $250,000

  • Cold Storage: 97% of user are stored funds offline

  • Two-Factor Authentication: Using SMS or Google Authenticator

  • Biometric Login: Adds another layer of security and convenience

  • Address Allowlisting: Choose which wallet addresses you allow withdrawals to, and which you don't

Coinmama's security features are not as robust as other exchanges, though they do offer standards like two-factor authentication.

Unlike Coinbase, which will hold both crypto and fiat balances, Coinmama does not ever have custody of user funds. That means if they get hacked, they won't have your money to lose. They don't store credit card data either.

Coinmama is registered as Money Service Business with FinCEN (Financial Crimes Enforcement Network), a bureau of the U.S. Treasury. As such, they'll require identifying documents when you sign up.

Has Coinbase or Coinmama ever been hacked?
To date, Coinbase has never been hacked. In 2019, Coinmama suffered a breach that exposed the data of around 450,000 users. However, no funds were lost because the company does not hold them.

Ease of Use

Coinbase is well known for being easy to use—in fact, it's their main selling point for many new to cryptocurrency trading. Whether using their proprietary app or their desktop site, it's easy to get started trading in minutes.

And for those looking for guidance, Coinbase provides that too. They offer guides and short courses for those looking to expand their crypto knowledge, with the opportunity to earn crypto for taking them.

Coinmama is also extremely easy to use. In fact, it may be one of the few exchanges easier than Coinbase, owing entirely to the fact that the services it offers are very simple.

Users can buy and sell cryptocurrency without having to worry about withdrawals or account management. If you already know what you want and are willing to pay the higher fees, the sheer simplicity of Coinmama may appeal to you.

Coinbase is the most popular crypto exchange, but it's definitely not the most affordable option out there. See how it compares to alternatives like eToro, BlockFi, Gemini, and more.

Customer Support

Coinbase offers a wide knowledge base for troubleshooting.

They don't currently offer phone support.

You can contact them through their website at help.coinbase.com, or through the "Contact Us" button at the bottom of the page.

Customer service is where Coinmama shines.

Simple questions can be answered through an extensive knowledge base in their help center.

You can contact them 24/7 via chat or their contact form. They typically respond within a couple of minutes.

They also have an active presence on social media, including Twitter, Facebook, LinkedIn, and Telegram.

Bottom Line

For new investors looking to get into the cryptocurrency trading game, Coinbase is probably a better choice than Coinmama.

While Coinbase users pay a premium for the ease of use that the platform offers, it still ends up being cheaper than Coinmama, one of the most expensive exchanges out there.

Coinmama offers more currencies, more features, and appears more dedicated to security overall (despite their past hacking incidents).

Coinmama may provide users with quicker transaction times and the comfort of knowing their assets are in their own custody, but unless Coinbase isn't available where you live, Coinbase has more to offer overall.

Jeremy Harshman is a protector of art and writing at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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