Case Study Of Coinmama, A Cryptocurrency Security

Introduction
Coinmama is a cryptocurrency exchange service founded in 2013. Although it’s registered in Slovakia, it is owned by the company New Bit Ventures Limited whose headquarters are in Israel. Coinmama operates in 24 states in the US but is available in 217 countries worldwide. Through it, users are provided a platform through which they can purchase Ethereum and Bitcoin using debit cards and credit cards, or via Western Union. However, there’s no provision to trade in cryptocurrencies and users cannot sell cryptocurrency. Rather, all customer cryptocurrency purchasers are directly transferred from the holdings of the company itself, which makes all transactions more secure than most of the competition. In this Coinmama review, we explore
Rather, the procedure allows users access and purchase Bitcoins regardless of whether they have verified their identity or not. You can proceed to create an order by selecting your desired amount of cryptocurrency you wish to purchase. Once this process is completed, you need to enter your wallet address and fill out your card details from the checkout page. If you have verified your identity, your credit card address has to match your user account address. Customer debit and credit card details are not stored on Coinmama’s servers. After the payment is completed, the transaction is processed by a card processor, which typically takes 20 minutes on average before they are made transferrable to a customer’s wallet of choice. When the wallet address and payments are confirmed, the Bitcoins are sent immediately to the customer. The least amount of purchase on Coinmama is US$60 or an equivalent amount in Euros. Presently, while this is based on the price of the cryptocurrency, the minimum purchase effective at the moment is whatever is listed as the price of 0.1 Bitcoin. As compared to most of their competitors, Coinmama is doesn’t provide any form of online wallet for their users to store the cryptocurrency they purchase on the exchange. Thus, once you purchase your bitcoins, you will need to create a more appropriate wallet to allow the exchange send the cryptocurrencies once you purchase them. To confirm your wallet address, you will get an email link from Coinmama, allowing them to confirm that this address is valid. Due to this validation procedure, customers cannot purchase any cryptocurrency on behalf of or for others. If you wish to transfer the currency to a different address or another person’s wallet, you need to