Coinmama versus Coinbase

[Pipdips]

What are the pros and cons in comparing these two exchanges?

Coinbase has been my preferred exchange for a while now.  I just heard about Coinmama today.

What is your preference and why?

[OmegaStarScream]

There are few differences such as verification time, fees, support responsiveness, and supported countries.

Coinmama support much more countries, their support is more professional and way faster than CB's.

Coinbase seems to have lower fees (Credit card purchases at least), and also faster verification time; a couple of minutes compared to Coinmama where it could take up to 1 hour but usually done within 15 minutes).

It's just a matter of preferences at the end of the day and since you're already using CB and you had a pleasant experience with them, there is no probably no reason to change to something else.

[Mahanton]

What is your preference and why?

Omega did make the comparison above which i do agree yet i have tested on using Coinbase once and switch up to Coinmama
because it is way too convenient for me than on Coinbase but i dont have any complaints with Coinbase service though.

[gentlemand]

This is why I wouldn't use Coinmama - https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/?sort=confidence

Read the top comment. They gave someone the boot after tracking down transactions to gambling sites several wallets down the line. There's no evidence they even controlled the coins any more.

Coinbase will do the same but I've never heard of tracking that dedicated, only on direct transfers to places that break their terms.

[Pipdips]

This is why I wouldn't use Coinmama - https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/?sort=confidence

Enough said. Silly rabbit, Coinmama is for kids. The winner of the match is Coinbase!
 
 
 

I switched to Indacoin

Hello Indacoin... That looks like a great website... https://indacoin.com/

[BitHodler]

Coinbase will do the same but I've never heard of tracking that dedicated, only on direct transfers to places that break their terms.

Well, we don't know that yet because Coinbase boots people without a reason and from there they can't do anything but accept no longer being able to use that platform ever again.

Coinbase has much more to lose so it's even more likely for them to pull out their big guns to protect their bank accounts and relations. I'm just glad they allow people to withdraw their coins after being booted.

I can see a time where a breach of terms might result in a penalty that costs you a certain percentage of whatever your entire balance is. This is something not entirely uncommon within the banking space.

[PrimeNumber7]

This is why I wouldn't use Coinmama - https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/?sort=confidence

Read the top comment. They gave someone the boot after tracking down transactions to gambling sites several wallets down the line. There's no evidence they even controlled the coins any more.

Coinbase will do that as well.

Most exchanges use pretty advanced blockchain analysis software and service providers that do a pretty good job of sniffing out the difference between moving coin between your own wallets and sending coin to a distinct third party. Exchanges do this because they do not want to be associated with illegal activity, and the associated scrutiny from governments that goes along with it. 

[Pipdips]

How about a Bitcoin ATM machine?  Those allow direct purchases that is immediately sent to a cold wallet?

[pugman]

How about a Bitcoin ATM machine?  Those allow direct purchases that is immediately sent to a cold wallet?

From what I am aware, Bitcoin ATMs ask for KYC after the purchase amount goes after a certain limit. Read this: https://bitcointalk.org/index.php?topic=5161285.msg51711000#msg51711000
And as for purchases being immediately sent to cold wallets, some generate an offline wallet and some ask you to input the QR code of the  address you want to send the funds to.

If you're looking to purchase btc, honestly just use local bitcoins.

[hugeblack]

No matter how high the fees and the long confirmation times, privacy remains a critical factor in choosing the platform and Coinmama^[1] has failed to maintain data from a large number of customers several months ago.

You can use it as a last option if your country is not supported.

[1] Coinmama Suffers Hack as 450,000 Users' Information Compromised

[Pipdips]

[1] Coinmama Suffers Hack as 450,000 Users' Information Compromised

Coinmama is not impressing me very much. Lots of bad news about them. Is there any good news about Coinmama?

If you're looking to purchase btc, honestly just use local bitcoins.

https://localbitcoins.com/  This site?

[pugman]

If you're looking to purchase btc, honestly just use local bitcoins.

https://localbitcoins.com/  This site?

Yep, that very site. But read their privacy policy before anything as they recently just updated it. I love Localbitcoins and by far has been very convenient and easy for me. They are a peer to peer with an inbuilt escrow system and check it out. It's really good.

[harizen]

Since other exchanges are now being mentioned, what's your purpose actually so we can pinpoint what will be the good suggested exchange for you?


Never tried Coinmama's service before but as far as you don't have any major problem with Coinbase, continue using them.

Coinbase is a big exchange. Already established a good reputation. Although my country is not supported, still I can freely use their exchange service for external transfers. Never have a problem with them for several years using them. About their support, I'm not included at those users who experienced a long response. Have several minor incidents before at Coinbase like not reflecting the deposit amount, can't hit the withdrawal button as it has errors, etc. but they able to solve it within just a day.