Coinmama is an international cryptocurrency exchange established in 2013, specializing in the brokerage of fiat to cryptocurrency. It was one of the first exchanges to support purchasing Bitcoin with credit and debit cards and the first to be authorized for integration with Apple Pay.
Coinmama Group was founded in 2013 by Nimrod Gruber, Laurence Newman, and Ilan Schuster. It originally facilitated the sale of Bitcoin to users and later expanded to include other cryptocurrencies such as Litecoin and Ethereum. Today, the Coinmama Platform is operated by Cmama Ltd. in Ireland, which is registered with FinCEN as a Money Service Business.
In 2013, Coinmama added credit cards and debit cards as payment options.
In 2015, Coinmama stopped accepting Western Union and focused on becoming an easy way to buy cryptocurrency online with a credit card or debit card.
In 2018, Coinmama added bank transfer as a payment option. Coinmama also added 5 new coins: Ripple (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC), Qtum (QTUM) and Cardano (ADA).
In 2019, Coinmama added the option to sell Bitcoin for Euro.
Coinmama’s main product is the sale of Bitcoin and other cryptocurrencies. They offer payment options such as credit and debit cards, bank transfers, (Fedwire, SWIFT, FasterPayments, Sofort) and Apple Pay. As of April 2020, they offer cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH)1 Ethereum (ETH), Ethereum Classic (ETC), Cardano ADA, Litecoin (LTC), Qtum (QTUM), Ripple’s XRP (XRP), EOS and Tezos (XTZ). Coinmama also buys Bitcoin from users for Euro with a transfer of funds to the user’s bank account.
Coinmama supports all the following currencies: USD, EUR, GBP, CAD, AUD, JPY.
Coinmama is considered to be an easy-to-use platform. In order to buy cryptocurrency it is required to register and get verified for purchase or selling. They have one of the fastest turnarounds in getting coins in the industry.
From 2013 to 2017 Coinmama was led by its three co-founders, with Nimrod Gruber serving as CEO.
In 2017, Asaph Schulman joined the company as CEO. He served as CEO from 2017-2019 before stepping down.
In April 2020, former IronSource general manager Sagi Bakshi was announced as the company’s new CEO. Bakshi has appeared on Israeli news network i24 News as an expert on Bitcoin and cryptocurrency.
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