It’s 2021 and the world of cryptocurrency has never been more extensive in reach as it is now. Every day, more and more internet users are starting to get involved in cryptocurrency in one way or another. Most people, however, start their crypto journey by becoming first-time cryptocurrency buyers. One of the most popular online platforms on which you can do this is Coinmama.
If you are someone who knows people who buy, sell, trade or invest in cryptocurrencies, you may have heard of Coinmama. This is because it is one of the most widely used cryptocurrency buying platforms available today. Moreover, Coinmama is a great place for beginners to start buying cryptocurrency.
This article presents itself as a beginner’s guide to Coinmama. In this article we will explain what Coinmama is and how to set up an account with Coinmama. If you follow our guide and set up a Coinmama account, we are sure you’ll be buying crypto on Coinmama in no time.
What is Coinmama?
Coinmama is a popular online cryptocurrency exchange that was founded in 2013. Although it fashions itself as a crypto exchange, unlike other online exchanges Coinmama is not used to trade one type of cryptocurrency for another. Coinmama instead provides users with an easy-to-use platform on which users can buy cryptocurrency using debit and credit cards.
Although their selection of cryptocurrencies was not very extensive until recently, Coinmama now allows users to buy many different types of cryptocurrencies. These include, Bitcoin, Ethereum, Litecoin, Cardano, Ethereum Classic, Bitcoin cash and Ripple XRP.
Coinmama’s main mission, as stated on their website is to simplify the way in which Bitcoin is bought and managed by today’s globalized economy. Consequently, they have created one of the easiest-to-use platforms for buying cryptocurrency using fiat currency. Before you will be able partake in this however, you will need to set up a Coinmama account.
Setting Up a Coinmama Account
1. Sign Up
On the Coinmama website you will be greeted with the home screen shown below. In order to register an account with Coinmama click the icon labelled ‘Sign Up’ found on the top-right hand corner of the screen as shown below.
Upon selecting ‘Sign Up’ you will be redirected to the page shown below. Here you will be asked to fill in your account details such as your country of residence, email address and account password.
Since you will be using your Coinmama account to buy cryptocurrency, which has real purchasing value, make sure you make a password that adequately secures your account. To do this, create a password that includes capital letters and special characters to increase its complexity.
2. Personal Details
Once you create your password and click ‘Create Account’ you will be redirected to the following pop up.
Click ‘Complete My Profile’ to continue setting up your account. This part of the process involves keeping your account secure, so make sure you follow the instructions diligently.
Upon clicking ‘Complete My Profile’ you will be redirected to the screen shown below where you will be asked to fill in your personal information.
After filling in these details and clicking ‘Next’ you will be met with the following screen on which you will have to continue this process. Here, you will be asked to provide your contact information and home address.
3. Verification and Security
After completing this part of the account set up, you will be asked to perform a number of steps that are vital to your Coinmama account’s security. As mentioned in the pictures provided above, make sure you have a government issued ID at hand as well as a mobile phone with a working camera.
Once you click ‘Let’s Go’ you will be redirected to the page shown below. Here you will be asked to provide the government issued ID to Coinmama in order to protect your account’s security. This also helps Coinmama confirm that you are who you say you are.
You can use either a driver’s license of a government issued State ID. Just make sure you have the document at hand because you will be asked to fill in the ID number.
After filling in your personal and contact information, you will then be asked to upload a series of pictures that will help with your account verification and future security.
Upon clicking ‘Next’ you will be shown the following pop up which will ask you whether you want to continue the process using your mobile phone. We recommend that you use your mobile phone for the next part of the procedure as it makes it easier to simple capture and upload the necessary pictures.
Once you click ‘Yes, use my mobile’ you will be shown a QR code on the screen. Use the QR code scanner on your mobile in order to confirm your account and to continue the set up on your phone.
4. Upload Pictures
Coinmama will then ask you to upload three pictures in order to verify your account. Two of these pictures will be of the government issued ID that you provided the details of previously. The third picture will be a selfie of yourself holding said government issued ID.
The screen you will be shown during this part of the process is as shown below.
Once you upload a clear photo of your I.D that follows the given instructions, you will be asked to upload a picture of the backside of your ID. After this you will have to upload a picture of yourself holding the ID out to the camera. Again, in order to ensure that your account is verified, follow the given instructions for the picture-taking very diligently.
Once finished, Coinmama will redirect you to the screen shown below.
This will indicate that you have completed the account set up procedure and now must wait a few hours while Coinmama verifies your new account.
There you have it. Our beginner’s guide to Coinmama has outlined for you the basic steps needed to be taken in order to set up a Coinmama account. As you can see, the process is easy but requires one to follow the instructions diligently. This process of account verification is what keeps Coinmama accounts secure and give users the necessary peace of mind when buying crypto on Coinmama.