CoinMama

Coinmama is a cryptocurrency brokerage platform founded in 2013 by Nimrod Gruber, Laurence Newman, and Ilan Schuster to simplify the process of purchasing digital currency. It operates as a non-custodial broker, meaning it sells cryptocurrency directly to users rather than facilitating trades between them. This model ensures that digital assets are sent directly to a user's personal wallet, enhancing security as the platform does not store user funds.

The platform serves clients in over 188 countries and supports numerous fiat currencies for purchasing a curated selection of popular cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). Users can buy crypto via various payment methods such as credit/debit cards, Apple Pay, Google Pay, and bank transfers like SEPA and SWIFT. While it offers a simple interface ideal for beginners, the service has been noted for its relatively high transaction fees. The platform focuses on buying and selling and does not offer advanced trading features, staking, or a native mobile app.

In May 2022, Coinmama, operated by New Bit Ventures Ltd., was acquired by Wellfield Technologies (TSXV: WFLD), a Canadian FinTech company. The acquisition aimed to integrate Wellfield's decentralized finance (DeFi) services with Coinmama's established user base of over 3.5 million registered users to expand its offerings.

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