Comparison of Coinmama vs Coinstore [ 2024 ]

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

Your expert: Alejandro Borja

Coinmama

Your expert: Xavier Tarrasó

Coinstore

Main points

Fees

≤3,99%

Earns

Yes

Customer service

3/5

0.20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.0 – Competitive fees with additional benefits for high-volume trading.

Level

≤3,99%

0.20%

Brief explanation

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.

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.

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.

Coinstore

Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access.
Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation.
High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders.
Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore.
Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency.

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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

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Cmama Ltd.

Unknown

Regulation

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

Not regulated

Year founded

2013

2021

Founder

Asaph Schulman

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Coinmama	FEATURES	Coinstore
Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.	Minimum Trade	Minimum trade amount details not specified but low barrier to entry.
While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.	Trading and Transaction Fees	0.2% fee for spot trading, and 0.025%-0.06% for futures .
Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.	Number of Cryptocurrencies	Supports 96 tokens and 94 trading pairs .
Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.	Crypto-to-Crypto Trading Pairs	94 trading pairs available .
The website provides clear information about its services and fees, though more detailed data on security practices could enhance transparency.	Website Transparency	Lacks detailed information on some aspects, like withdrawal fees .
Coinmama does not offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Coinstore does not provide an exchange card for in-store purchases.
Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.	Storage Offering	70% of assets stored in cold storage, AES-256 encryption used .
Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.	Staking and Rewards	No dedicated staking program mentioned .
Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.	Mobile App and Desktop	Full-featured mobile app for Android and iOS available .
Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.	Customer Service	Provides 24-hour chat service but lacks direct phone support .
Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.	Deposit and Withdraw	Only supports crypto deposits and withdrawals, no fiat support .

Key features

Analysis tools

No trading tools, primarily a buying platform

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Instant crypto purchases, educational resources, Coinmama Loyalty Program

Margin trading, futures trading, staking, Coinstore Launchpad

Anonymity

Yes

Key points

Available cryptocurrencies

10+

50+

User-friendliness

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.

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

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

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.

Countries of operation

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

Singapore, United States, Canada, Australia, United Kingdom

Best for

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

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, EUR, GBP, AUD, CAD

USDT, BTC

Account

Trading

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.

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major exchanges.

Deposit and withdrawal

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.

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.

Account opening process

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.

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

KYC required?

Yes

Customer Service

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.

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

Security

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.

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.

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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.