Changelly and Coinmama are platforms that offer you to buy any cryptocurrency instantly. This article gives a glance at both platforms by collecting features and benefits.
With the rising popularity in cryptocurrencies, access to several buying platforms is on the rise as well. Particularly, cryptocurrency exchanges and P2P platforms have been two of the best options to gain exposure to the cryptocurrency market. However, there are other ways to acquire Bitcoin (BTC) and other virtual currencies.
Changelly and Coinmama are two platforms that allow users to buy and sell cryptocurrencies in a fast and easy way. Compared to traditional cryptocurrency exchanges, both Changelly and Coinmama will provide secure transactions to users acting as intermediaries between traditional virtual currency exchanges and users.
In this guide, I will make a comparison between Changelly vs Coinmama. Firstly, I will go through some of their characteristics and I will also tell you how you can do to get access to cryptocurrency assets using these two services.
Changelly vs Coinmama
First of all, in this Changelly vs Coinmama guide I am going to explain to you what exactly the main differences between these two platforms are. Both of them will be offering some of the best services for users in the cryptocurrency space. If you want to buy fast, you will definitely enjoy using these two services as they were developed to offer easy-to-use solutions.
In particular, speed, fees, and security are some of the main issues and factors users take into consideration before they decide to use one or another platform. There are going to be some differences in the way users protect their accounts and data, the fees they have to pay for transacting digital assets, and the coins supported for each of these sites.
Finally, we can be sure that both of the sites have a good variety of assets and currencies supported. This will make it easier for a wide range of users to get access to the crypto market. This is specifically true for individuals that have never used a crypto exchange – which could become challenging for those that never traded before.
Changelly Cryptocurrency platform
As stated earlier, the Changelly cryptocurrency platform can be very useful for those wanting to buy Bitcoin and other virtual currencies instantly. As you can see in the image above, you will be able to acquire digital assets as soon as you enter the site.
The widget will ask you which currency you want to use and it will immediately offer you the amount of the virtual currency you want to receive in your wallet. The process is very simple and straightforward where the interface makes it intuitive as well.
Changelly is certainly a leader in terms of its offering to users. Dealing and handling digital assets in such an easy way is going to be very pleasant. Users will not have to be worried about learning how to trade, placing market or limit orders or withdrawing their funds to their wallets.
At the same time, Changelly will have a smartphone application available that can be downloaded using Google Play or the App Store. Both of these applications will work as smoothly as the web version and will allow you to get access to the same services you would normally get using the web platform.
Changelly vs Coinmama: Buying and Verification process
In general, both platforms are designed to buy cryptocurrency as fast as possible. Also, you can be sure that Changelly and Coinmama handle transactions in a very secure way. Therefore, it is very easy for users for any customer to get access to virtual currencies even without any previous knowledge of cryptocurrencies.
While on Changelly you will have the possibility to get Bitcoin or other virtual currencies as soon as you enter the site, with Coinmama you will need to go around the website before you finally find the screen that will allow you to get access to the virtual currencies you want to acquire.
Nonetheless, as soon as you click on “Buy Bitcoin” in the widget, you will find the following screen that will make it easy for you to buy the virtual currencies you were looking for.
The verification process is quite easy on both platforms. Indeed, you will only need to provide an email address and a password to handle your accounts on these platforms. For Changelly, it’s possible to buy now, however for Coinmama you will have to provide your ID, passport, or driving license when you make your first purchase.
Buy Cryptocurrency on Changelly
In order to buy a cryptocurrency using Changelly without a bank account, you can simply select the virtual currency you want to use to buy another digital asset and press the “Exchange Now” button. This will take you to the next screen where you will see all the details of the transaction.
You can select fixed or floating rates that will allow you to have better rates for your purchase. Floating rates make reference to market values while fixed rates are an established rate that lasts for a few seconds and allows you to purchase a digital asset at a specified price.
In this screen, you will also have to provide your recipient address and the refund address you use in case of need. After pressing “next step” you will finally be able to get your funds. Take into consideration that you will have to provide an ID if you want to use your bank account.
Buy Cryptocurrency on Coinmama
Purchasing cryptocurrencies in Coinmama is also very simple. After you have filled-in your public key(local Bitcoin wallet address), you can select “Go to payment” and choose the requested payment method.
Once you select the wallet you want to use, you will have to decide which digital currency you will use to get the cryptocurrency you want to buy. Both sites are quite useful to exchange digital assets in just a few minutes and without major issues.
ApplePay on Coinmama
It is important to notice that iPhone users wanting to get in crypto are covered by Coinmama. In addition, Coinmama is the first crypto exchange to offer iPhone users the seamless experience of buying crypto with ApplePay. This new feature gives Coinmama an edge compared to Changelly or other cryptocurrency platforms.
|For more detailed information on buying cryptocurrency on Coinmama, read my extensive review about the Coinmama platform.|
Steps to buy Cryptocurrency on Changelly
The fastest way to acquire Bitcoin or any other cryptocurrency is by using a credit card. Also, with this method, you don’t need to go through an extensive KYC verification process.
Step 1 – Create an Account on Changelly
First of all, you will have to create an account in Changelly. You will have to provide an email and a password that will be sent to your email account. Then you will have to change it on the platform.
Step 2 – Buy Cryptocurrency
This is very easy. As you see, you can already acquire cryptocurrency using Changelly. You will be able to see the page provides you with all the information you need. You need to enter the number of funds you want to buy and the currency you want to use.
Take into consideration that you will have to provide an ID or identification to buy using a bank account or fiat currencies. However, if you do not have cryptocurrencies in another platform, this will be one of the best ways to get access to the crypto market.
Step 3 – Provide Address Information
You will have to share the information related to the address you will be depositing the funds. This address is going to receive the money you will buy. Thus, if you buy Bitcoin, you will have to provide your BTC address. If you buy Ethereum, you need to use a valid ETH address.
Steps to buy Cryptocurrency with Coinmama
First of all, before entering the buying process, it’s important to know that you already should own a wallet. In contrary to cryptocurrency exchanges, these platforms don’t offer custodian wallets.
So, when the buying process has finished the cryptos will be sent to your wallet immediately. Therefore, I would recommend Nano Ledger hardware wallet, mostly because it supports the storage of more than 300 different cryptocurrencies.
Step 1 – Create an Account at Coinmama
Register your personal data by e-mail to create an account. Your data will be encrypted and stays on this platform only. Remember that when you submit your personal details, it’s totally up to you how much personal data you will share, but the more you share, the more you can buy at once.
Step 2 – Buy Cryptocurrency
The next step will be to buy a cryptocurrency and this is a very easy task. First, you have to enter your local wallet address(public key) where the cryptocurrency will be sent after the purchase. The next thing to do will be to hit “Go to Payment” button.
As you can see the platform offers you an order which is limited and if the payment doesn’t go well the order will expire. That’s it, and if everything went well the crypto will be sent to you immediately.
Finally, it’s important to know that Coinmama is very limited in buying cryptocurrencies. Currently only the 8 major cryptocurrencies are allowed : Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Cardano, QTUM and Ethereum Classic.
Now that you know that it is very easy to get access to the cryptocurrency market, the next section in this Changelly vs Coinmama comparison is to understand which are the available cryptocurrencies to buy.
You will find it very interesting, especially when both of the sites are offering users a wide range of coins they can acquire. Some traditional spot exchanges have a limited number of coins users can buy, however, using Changelly or Coinmama you will get access to some of the largest cryptocurrencies in the world such as Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC) and also smaller cap coins.
Although both platforms excel in buying cryptocurrencies in a very quick way, the supply of available currencies is a little limited. Especially Coinmama only supports buying the major cryptocurrencies(see above). Changelly, on the other hand, has a more sophisticated offerring of available cryptocurrencies and is can trade more than 140 different cryptos on its platform.
Fiat Currency options
Buying cryptocurrency with fiat currency is what most of these trading platforms offer and Changelly or Coinmama are no exception in this.
If you’re interested in one of the biggest differences in the Changelly vs Coinmama debate, fiat currency availability is definitely something to consider. Although Coinmama has a very limited cryptocurrency offerring, customers are allowed to buy with the major fiat currency types in the world: USD, EURO, GPB, Canadian Dollar, Australian Dollar, and Japanese Yen.
Changelly on the other hand has some smaller options for buying with fiat currency available. Buying Bitcoin can be done with EUR, USD, or GBP, and also many other cryptocurrencies can be bought this way with fiat currency.
Remember that when buying with a credit card at both platforms comes with an additional fee. Particularly, third party Simplex charges about 5% fee on every credit card transaction being made.
Both of these platforms offer services to clients from all over the world. However, there may be some exceptions that are not openly mentioned by any of these platforms. Nonetheless, it is worth taking into consideration that some of the services offered by Changelly or Coinmama may be limited to some regions or jurisdictions due to legal issues.
For example, users that want to withdraw BTC or EUR can do so in just a limited list of countries, mostly in the European Union and a few exceptions such as Great Britain or Israel. Nonetheless, the general services should be available to users from all over the world without distinguishing their location.
Some traditional crypto exchanges block users from specific jurisdictions in order to avoid legal clashes with local authorities.
The fees are going to be one of the main topics of this Changelly vs Coinmama comparison – and I can understand that you are curious about it. First we have Coinmama and on their site they claim that all buying prices on their site include a 3.9% commission fee. Also, for instant purchases with a credit card there will be an additional 5% express fee.
Changelly, instead, has a flat fee equal to 0.25% that would be applied to all the transfers that you will process on the platform. Of course, when buying with a credit card you also have to pay the 5% express fee.
All in all, Changelly would win this round by charging about 3.4% cheaper buying prices.
Both companies offer acceptable customer support. It is necessary for these platforms to offer support in case users encounter issues or problems while handling digital assets on their site. It is very fair to say that Coinmama offers better customer support than Changelly.
This could also be related to the fact that Coinmama has higher fees than Changelly when it comes to buying and selling cryptocurrencies. It is logical to think Changelly could offer better support than Coinmama.
Nonetheless, I think you need to accept than I didn’t encounter issues with Changelly’s customer support, even when there were some negative comments about it.
Changelly vs Coinmama: Safety and Security
Both platforms are very secure for users to buy and sell cryptocurrencies. Changelly seems to win slightly in this section of our Changelly vs Coinmama comparison. In the past, Coinmama has been under attack although there were no funds being lost. Additionally, the platform suffered from a data breach with 450000 emails and hashed passwords being captured by bad actors.
This cannot be said about Changelly. The platform has been helping other exchanges recover funds from users that were stolen. For example, they have put on hold almost half a million dollars worth of EOS coins when the Bithumb exchange was hacked last year.
Security is one of the main issues affecting exchanges and many of these platforms have been attacked in the past. Changelly is certainly doing a great job protecting users’ funds and improving crypto security standards.
Changelly Pros and Cons
|✓ Pros||✗ Cons|
|Very fast, buying crypto can take minutes||No crypto trading|
|More than 140 cryptocurrencies available||Cryptocurrency prices are set by Changelly|
|Integrated with many wallets and other exchanges|
Coinmama Pros and Cons
|✓ Pros||✗ Cons|
|Supports different payment methods like cash, credit/debit card, including ApplePay(!)||Supports only buying of 8 different cryptocurrencies|
|Very clear and extensive FAQ section on their site||High fees|
|Supports most countries worldwide||No mobile app available|
Changelly vs Coinmama: Conclusion
So which exchange wins the Changelly vs Coinmama review? By researching all options above, it seems that Changelly has a slight edge overall. Although, if trustworthy and speed are important to you, it may be worthwhile using Coinmama instead, mostly because they have proven to be reliable over time. On the other hand, Changelly has also a proven track record in buying cryptocurrency with its platform.
All in all, whatever platform you decide to choose, be very careful and make sure you are dealing with the proper party. Moreover, fishing and fake URLs still are the main risks of losing your mighty cryptos. Be safe!
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