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By Zach — 2 years ago
In this CoinMama review we are going to do a deep dive into a CoinMama and find out if it’s the best way to buy bitcoin with credit card. Are the fees high? Is it safe? What credit cards can I use to buy bitcoin (and other cryptocurrencies)? We are going to answer all of these questions and more in this review, stay tuned for the whole review! One of the most searched phrases right now on the internet is “How to buy bitcoin with credit card”, and for good reason. It’s the easiest way to buy bitcoin without having to share a lot personal information and having to wait 3-7 business days when verifying your bank account.
I also urge you to check out a recent article I wrote that details a handful of different ways (CoinMama included) to easily buy bitcoin if you’re new to the process and you want a no-nonsense and easy way to do this. You can find that HERE. Now, let’s get down to finding out why CoinMama was the easiest way for me to buy bitcoin with a credit card, and why I still use it today!
How Does It Work?
It’s a simple 3-step process to use this site and it took me less than 10 minutes to make my first purchase when I first used this service over 2 years ago. If you’re looking to purchase not only Bitcoin, but also ETH, LTC, BCH, ETC, XRP, QTUM, and ADA in a hassle-free way, then CoinMama is the way to go. First, you register your account with basic information and gain access to the account where you can customize your purchase. Second, you can choose how much information you want to add, depending how much you want to buy in one shot.
Level 1 verification allows you up to $15,000 USD worth of BTC (or any other coin) with only a government issued ID (which is required for KYC) and as soon as you upload it, you can start buying in less than 10 minutes. The 3rd and final step is purchase the coin and amounts you want after you confirm your basic verification and it’s delivered in under 10 minutes. This process is very easy and MUCH quicker than any other exchange I’ve personally used. (Don’t even get me started on Coinbase).
How Much Does It Cost? What Are The Fees?
You can use a bank transfer (if you choose) and it will cost you less, but it will also take longer. However, the real “instant” purchase and service you’re looking for is for debit and credit cards. The fees are as follows:
Since there is no central bank controlling the bitcoin rate, each website has its own bitcoin rate. The price you see on our website is Coinmama’s bitcoin rate and includes our fee of 5.90%.
For credit/debit card transactions, the payment processor charges 5.00% additional fee. Unlike credit/debit card transactions, if you pay by bank wire there is 0.00% processing fee. The card processing fee will be added after choosing your method of payment. Apart from our fees, your bank may incur their own. If you’re not sure, contact them before placing your order.
Don’t let this turn you off, as some of the competitors that offer a similar service as CoinMama, they charge ridiculous fees and can take up to 10 days to verify and deliver your cryptocurrency. There is a price to pay for very quick delivery and most credit card companies build that fee into the cost here to mitigate some of the risks of fraud and other factors as well.
Trust me when I say, if you want to use a debit or credit card to buy bitcoin, this is your best best. Especially if you need it now.
What Countries Are Supported?
I won’t list all supported countries here as there are over 188 countries supported. Yes, that many. That is why this is one of the most trusted services in the entire industry and has a very broad reach. If you want to verify if your country is supported, you can check it out HERE. Additionally, The US has some restrictions on states, but 45 out of the 50 states are included for support. Those specific states (if you’re concerned) can be found at the link HERE.
What’s Their Reputation? Is It Safe To Use?
As mentioned above, this company has been around since 2013 and has a very well received reputation and track record. I have never once had an issue with using this service, nor have I had any indication that it was fraudulent in any way. CoinMama has been selling bitcoin via debit and credit cards longer than any other service to date and was first to market in this regard. I have used them personally about 6 or 7 times and have never once thought of using another service for using a credit or debit card to purchase my cryptocurrency.
What’s The Verification Process? How Long Does It Take?
There are multiple levels of verification depending on how high of a limit you need to purchase every month, but the standard Level 1 verification only takes about 10 minutes and allows up to $15,000 USD (as mentioned above). This really applies to 99% of people and I will leave a link below if you want to understand what else is required if you want to purchase more than 15k per month. Once you’ve completed verification your bitcoin is delivered to your specified address instantly!
For further verification requirements, you can refer to this link HERE
CoinMama Review – Conclusion
Overall, if you need to get bitcoin fast and time is of the essence, then you can’t go wrong with CoinMama. Yes, if you have time to kill and you’re ok with waiting up to 10 business days and you want to provide your bank account, there are other solutions you can use, which I will link to in a future review update. But for most people that are skeptical of providing all their banking information just a save a few bucks, you won’t find better service or a better deal to buy bitcoin with a credit card than CoinMama.
There’s a reason myself and many others have used this service more than once and will continue to do so. In a world where new crypto companies are coming into existing, having a long standing track record really counts in this industry and I have no qualms about CoinMama. Yes, you can say I’m a fan, and if you decide to use this service, I am confident you will be too.
What do you think? Is there a better place to buy bitcoin with a credit card? Let me know your thoughts in the comments below!
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.Post Views: 101
By Zach — 2 years ago
D’CENT vs SafePal! In this comparison, we are going to do a head-to-head of two of the most competitive and popular new cryptocurrency hardware wallets in this edition of the hardware wallet roundups.
I am going to dive into which of these bluetooth hardware wallets is better and more secure. How big is your portfolio? Do you need mobile AND desktop support? Do you use any 3rd party wallets for integration? Do you need web-based access instead of a required download?
These are all questions you will need to consider when deciding which of these wallets will be best for you. At the end of the day, the coin support is one of the most important factors (besides security) when deciding which hardware wallet is best for you.
Ultimately, if it doesn’t support the coins you want to store offline, it won’t work for your particular situation. So keep that in mind as we dive into what I consider to be the most important factors when making a such an important decision, such as choosing a cryptocurrency hardware wallet.
This device was originally created by Binance Labs division and wanted to have a unique approach to a hardware wallet that was cheap enough for the average user, but also supported the Binance chain and added support for their internal projects. This really is a unique entry level hardware wallet, that greatly differs in terms of design, functionality, and overall user experience.
This can be considered one of the most attractive features of the device as it’s only $39.99 for this hardware wallet. Yes, you read that right. But why is it so cheap? Well, even though it looks like a very sleek and expensive device, its is made of plastic coating and a very small camera module that is used to transact at a very low resolution.l It’s obvious that they built this as cheaply as they could, while still remaining secure.
This is not necessarily a bad thing, but you also get what you pay for. One of the key features that sets this device apart from most other competing hardware wallets is the fact that there is NO:
- EXTERNAL DEVICE CONNECTIONS
This gives it extra security, but it also makes it easier to use, as there are no extra devices necessary for this to operate, other than your smartphone. All you need right out of the box is a charger that supports USB-A to charge the device and a smartphone to download the Safepal App to setup and initialize the device.
SafePal: User Experience (UX)
This is the cheapest completely wireless hardware wallet on the market. It interacts only with your smartphone and the camera embedded into the device that allows you to transmit encrypted data via the QR code. This is truly a unique device.
This is a pretty solid introductory hardware wallet. It’s unique from it’s direct competitors and its simple and easy to use. As mentioned above, it has no connection weaknesses and cannot be hacked by any radio frequency or directly connected internet device. It’s truly a unique wireless hardware wallet that can be used on the go and is one of only a few hardware wallets that are “truly wireless” with no dependence on other devices. Oh, and did I mentioned it’s under $40?
SafePal: Coin Support
This is the one weak point of this product is the lack of coin support, as it only supports: Bitcoin, Ether (and ERC-20 Tokens), BNB, Litecoin, Dash, and Bitcoin Cash, DigiByte (DGB), NEO, and Zcash (ZEC) . However, they have mentioned that there is Ripple (XRP) and Tron (TRX) coming very shortly. They truly are attempting to add more coins, and over time, if they don’t raise their price, this option will be a slam dunk for most users.
Additionally, I will add that the Binance Chain Coins (BEP2) tokens are also supported as this is a Binance hardware wallet after all. Below Is a full list of coins currently supported.
The D’CENT is a mobile and bluetooth connected wireless hardware wallet device. With additional biometric security and the ease of use, this is a contender for the easiest to use mobile and wireless wallet. So how is it different than Ledger Nano X or other bluetooth devices? The Biometric security is a large differentiator here. It’s super convenient and makes it easy to sign and authenticate transactions on the go.
This means if you want to move your crypto from cold storage to a hot wallet, it can be done quickly and easily. A common scenario here would be if you are trying to pay a friend or you’re shopping and want to pay for a product in store very seamlessly. Let’s take a look at the security, features, and price below to go into a little more detail.
The flagship feature of D’CENT is hands down the biometric security feature of the fingerprint sensor. There are some other hardware wallets that communicate with mobile, and can utilize Face ID or Touch ID for extra authentication with their mobile app, but this gives your authentication on the physical device as well. This is a unique and very secure feature that is not used by any other hardware wallet currently on the market.
The hardware wallet features a built-in fingerprint scanner that manages access to the hardware wallet. This security process improves the convenience for the users and enhances the security during access control. It also provides the wallet with fast transaction signing.
- Multi-IC architecture design
- Bank grade EAL 5+ Secure Element (This is the same security chip used in the Ledger Nano X)
- Secure OS embedded on microprocessor
D’CENT: User Experience (UX)
One of the main features I like here is the option to generate a valid QR code on the large OLED screen of this device as a way to send funds directly from your smartphone to your D’CENT wallet. This is super convenient and truly makes this a wireless and independent device that can be used on the go via the D’CENT app, which also includes a market price section and of course all of your wallets and current fiat amount stored within each one.
What’s also nice is you no longer need to backup and restore this device for firmware upgrades like you do with other devices (although you can, since this device can also support bluetooth and USB connectivity if you choose). This makes this a very convenient choice when considering the ease of use and security when choosing how to secure your private keys.
D’CENT: Coin Support
The coin support is varied. The D’CENT can store and support Bitcoin, Ethereum, ERC20 tokens, RSK, RRC20 (RSK tokens), Ripple (XRP), and MONACOIN. To many, this may not seem like it is very much, however, a majority of the major tokens are ERC-20 tokens and all can be supported natively on this device, which is good. I have not come across a hardware wallet yet that supports RSK and RRC20 tokens yet natively, so that definitely makes this an exclusive hardware wallet first for the D’CENT wallet!
D’CENT vs SafePal: Conclusion
Overall, these are two of the most interesting wallets out there. On the one hand, the SafePal is embracing the QR code level security of an entry level wallet, but is lacking in its overall coin support. I do expect this to change over time and expand their offerings as they begin to gain market share.
On the other hand, the D’CENT is the only hardware wallet that offers biometric securirty (by use of your thumbprint) as an extra layer of security for signing and authorizing transactions. This is nice in knowing that no one can process any transactions, even if they know your password and/or PIN code.
The D’CENT is also lacking (in comparison to other mainstream hardware wallets) in terms of coin support, but supports the RSK chain (Bitcoin Side-Chain) that is unique to this wallet and will still support all the main coins you get on every other hardware wallet.
At the end of the day, I would go with the SafePal. It’s currently under $40 and has air-gapped technology and is a completely wireless device that doesn’t require you to connect to a computer to manage your crypto assets. That’s not to say the D’CENT is bad, I just would rather spend less and get what some could construe as a better security model, even though its current coin support leaves much to be desired.
What do you think? Would you choose the D’CENT over the SafePal? Let us know down below in the comments!
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.Post Views: 86