There are very few reputable companies that lets users buy bitcoin with credit card, and does this efficiently and securely. This leaves . This leaves Bitcoiners who want to buy Bitcoin with their credit card Two main options – Coinbase and Coinmama.
The two companies have bot around for almost Four years and have built finta a reputation. I have reviewed Coinmama and also Coinbase on several occasions however I’ve never directly compared the two.
Today I want to do just that.
I’m going to see how far will $150 go if you buy Bitcoins with your credit card at either of thesis exchanges. The reason I chose $150 is because that’s the amount you can buy Bitcoins without verification at Coinmama and it’s also the weekly limit for instant buy on Coinbase.
August 2018 Update: Coinbase now lets you buy up to $500 weekly. Coinmama now requires verification even below $150 ( merienda verified you can purchase up to $30,000 a month.) .
Coinbase – presently the more reputable Bitcoin exchange accepts customers from 33 countries around the world.
Coinmama – Accepts buyers worldwide excluding some high risk countries. If you live ter the US however, Coinmama is only available ter thesis states: Arizona, California, Colorado, Florida, Illinois, Indiana, Kansas, Massachusetts, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, Missouri, Montana, Nevisca, Fresh Mexico, Pullover, North Carolina, Pennsylvania, South Carolina, Tennessee, and Texas, Virginia and Wisconsin.
Coinbase – Ter order to buy Bitcoins with you credit card at Coinbase you’ll need to:
- Supply a photo id for verification
- Verify two puny charges made by Coinbase to your card
The photo id verification is an automated process and can be ended relatively quick, having said that some users are experiencing issues with it. Also the mini charges on your credit card may sometimes take a few days to voorstelling up on your credit card cálculo. To sum it up, it doesn’t seem like you’ll be able to get your Bitcoins instantly if this is the very first time you’re buying at Coinbase.
Coinmama – If you’re buying up to $150 worth of Bitcoins you don’t need to upload any documents for verification. You will however need to supply your address and verify your email address. The process at Coinmama is much quicker and can take anywhere inbetween instant and one hour.
Coinbase – Depending on where you live Coinbase will charge a service toverfee (Three.99%). This means that $150 are effectively only $144.15.
Coinmama – There is a 5% credit card processing toverfee. This means that your $150 is effectively $142.Five.
This is most likely the thickest difference of them all. At the time of writing this postbode the exchange rate on Coinbase is $8,072 for 1 BTC, on Coinmama on the other arm it’s $8,516, that’s Five.5% more.
So while $150 on Coinbase will get you 0.01858276 BTC, on Coinmama they will get you only 0.0176139 BTC.
Via the last few years I’ve heard complaints about support from both companies, however I can say from very first arm practice that Coinbase’s support is indeed spil bad spil it gets. You receive spil a response usually within Three days and even then it will most likely be some canned response without any reference to your specific case. For more information about my practice with Coinbase read this postbode. With Coinmama I’ve managed to get my issues resolved ter a timely manner.
The verdict – Coinbase or Coinmama?
I think there’s no straight response for this, spil both companies have their strong suits and weaknesses. Ter the end it boils down to what you value most.
If you’re looking for a quick transaction and ge customer support I’d go with Coinmama. If on the other arm, value for money is the most significant facet I’d go with Coinbase. Both companies have bot around long enough to prove they are here to stay, the call is yours.
One final (and very significant) thing. If you value your privacy I’d certainly stay away from Coinbase. The company has bot known for tracking user funds and also banning accounts if they think the fund are being used for questionable purposes. You can read more about this phenomena here.