Comparison of Binance Us vs Coinmama [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Binance Us vs Coinmama comparison!

Your expert: Alejandro Borja

Binance Us

Your expert: Xavier Tarrasó

Coinmama

Main points

Fees

0,00%/0,40%

Earns

Yes

Customer service

4/5

≤3,99%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.7 – Low fees comparable to its global counterpart.

3.5 – Higher fees but a simple and straightforward buying process.

Level

0,00%/0,40%

≤3,99%

Brief explanation

Binance US is known for its competitive and low fee structure, which is one of its most attractive features. The exchange operates on a tiered fee system where trading fees are reduced based on trading volume and Binance Coin (BNB) balance, making it particularly appealing for high-volume traders. Typically, trading fees start low and can decrease further with higher trade volumes and the use of BNB for transaction fees. This fee structure not only encourages active trading but also enhances profitability by keeping transaction costs minimal. Deposit fees are generally non-existent, but withdrawals incur a small fee that varies depending on the cryptocurrency being withdrawn. For traders using credit or debit cards, higher transaction fees may apply, making it important to consider the most cost-effective payment method when trading.

Coinmama’s fee structure is straightforward and transparent, primarily focusing on transaction fees for buying and selling cryptocurrencies. The platform charges a commission on each purchase, which varies depending on the payment method and the amount of cryptocurrency bought. Typically, fees range from around 3.90% to 5.90%, with lower fees for higher-value transactions. Credit and debit card transactions often incur the higher end of the fee spectrum due to processing costs associated with card payments. This structure ensures users are aware of the costs upfront, aiding in budget management for their investments.

Binance Us

Security Methods: Binance US employs robust security protocols, including advanced encryption, multi-signature technology, and two-factor authentication (2FA). These measures ensure the safety of users' funds and personal information.
Customer Service: Binance US offers responsive and accessible customer support through various channels, including live chat and email. This ensures that users can quickly resolve any issues or get assistance when needed.
Reputation and Reviews: Binance US is well-regarded in the crypto community, with generally positive reviews from users and industry experts. The exchange's reputation for reliability and user satisfaction further enhances trust.
Volume Managed: Binance US manages a significant trading volume, indicating a high level of liquidity. This means that users can execute large transactions with minimal impact on the market price, ensuring efficient trading.
Regulation: Binance US operates under strict regulatory compliance, adhering to US financial regulations. This ensures transparency and accountability, providing users with confidence in the platform's integrity.

Coinmama

Year Founded: Established in 2013, Coinmama has a long-standing history in the cryptocurrency market, indicating stability and experience.
Reputation and Reviews: Coinmama has maintained a positive reputation in the crypto community, supported by favorable user reviews praising its ease of use and reliable service.
Security Methods: Coinmama employs robust security measures, including SSL encryption and two-factor authentication, to protect user accounts and transactions.
Transparency: The exchange is transparent about its fees and processes, providing clear information without hidden charges, which builds user trust.
Customer Service: The platform is known for its responsive and helpful customer support, which enhances trust and reliability.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

BAM Trading Services Inc.

Cmama Ltd.

Regulation

Regulated in the EE. UU.

Registrado como empresa de servicios monetarios en los EE. UU.

Year founded

2019

2013

Founder

Operated by BAM Trading Services (non-specific founder)

Asaph Schulman

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance Us	FEATURES	Coinmama
Allows small minimum trades, accessible for beginners.	Minimum Trade	Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.
Competitive low fees, beneficial for high-volume traders.	Trading and Transaction Fees	While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.
Offers a wide selection, though less than its global counterpart.	Number of Cryptocurrencies	Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.
Extensive range of trading pairs, providing good market flexibility.	Crypto-to-Crypto Trading Pairs	Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.
Generally clear info, but some users desire more detailed disclosures.	Website Transparency	The website provides clear information about its services and fees, though more detailed data on security practices could enhance transparency.
Binance US does not offer an exchange card for in-store purchases and benefits.	Credit/Debit Card	Coinmama does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Offers secure storage solutions, including cold storage options.	Storage Offering	Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.
Provides staking options with competitive rewards.	Staking and Rewards	Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.
Highly functional and user-friendly on both platforms.	Mobile App and Desktop	Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.
Reports of slow response times can be a significant drawback.	Customer Service	Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.
Efficient processes, though some reports of delays with fiat withdrawals.	Deposit and Withdraw	Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.

Key features

Analysis tools

Similar to Binance with advanced charting and indicators

No trading tools, primarily a buying platform

Mobile APP

Yes

Security

High 4,9/5

Additional features

Staking, recurring buys, OTC trading, educational resources

Instant crypto purchases, educational resources, Coinmama Loyalty Program

Anonymity

Key points

Available cryptocurrencies

100+

10+

User-friendliness

Binance US provides a user-friendly platform similar to its global counterpart, tailored to the US market. The interface is clean and intuitive, making it easy for new traders to get started with cryptocurrency trading.

Coinmama offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with essential features easily accessible.

Value for money

Provides great value for money with low trading fees and a wide selection of cryptocurrencies tailored for the US market.

Offers reasonable value for money with higher fees but a simple and straightforward buying process, making it suitable for beginners.

Countries of operation

United States

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Best for US-based traders looking for a reliable and user-friendly platform with low fees and a wide selection of cryptocurrencies.

Best for beginners who want a simple and straightforward buying process, despite higher fees.

Base currencies available

USD, BTC, USDT

USD, EUR, GBP, AUD, CAD

Account

Trading

Binance US offers a streamlined version of Binance for American users, providing a good selection of cryptocurrencies and competitive fees. It maintains high security standards, though the variety of coins is less extensive than the global platform.

Coinmama is a straightforward platform focused on buying and selling major cryptocurrencies with fiat. It has higher fees compared to some exchanges and lacks advanced trading features.

Deposit and withdrawal

Binance US offers similar deposit and withdrawal methods to its global counterpart, including bank transfers and credit/debit cards. Withdrawals are typically processed within a day, with competitive fees.

Coinmama focuses on buying and selling major cryptocurrencies with fiat. Withdrawals are processed quickly, typically within a day, but fees are higher compared to some exchanges.

Account opening process

Binance US has a similar account opening process to its global counterpart. Users need to provide personal details, verify their identity, and the process is usually completed within a day. It’s user-friendly and secure.

Coinmama provides an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Binance US offers support through email and live chat, similar to its global counterpart. The support team is responsive, and assistance is available 24/7, ensuring users get timely help.

Coinmama provides customer support through email and live chat. The support team is responsive, but the lack of 24/7 support can be a limitation for some users.

Security

Binance US provides strong security with 2FA, encryption, and cold storage. It is regulated by the U.S. financial authorities, ensuring high security for investors .

Coinmama ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Binance US for its strong security measures and high liquidity, which make it a reliable choice for both new and experienced traders. The platform’s user-friendly interface and responsive customer support enhance the overall trading experience, although the absence of an exchange card is a minor drawback. Overall, Binance US stands out for its robust performance in the US market.

Xavier Tarrasó

As one of the seasoned experts here at our website, I’d highly recommend Coinmama for anyone looking to get started with cryptocurrencies. Its intuitive interface makes it incredibly easy for newcomers to navigate the crypto buying process. Plus, the option to purchase directly with a credit card adds a level of convenience that’s hard to match. If you’re venturing into the world of crypto and want a straightforward, secure platform, Coinmama should definitely be on your radar.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.