Coinmama

No. Coinmama operates as a non-custodial broker, not a custodial exchange. When you buy crypto through Coinmama, the purchased coins are sent directly to your own external wallet address — Coinmama never holds your funds. This means you are not exposed to exchange insolvency or platform hacking risks that affect custodial exchanges. You must supply a valid receiving wallet address for every purchase, and Coinmama has no access to those funds once sent.

On February 15, 2019, Coinmama disclosed that approximately 450,000 user email addresses and hashed passwords belonging to accounts registered before August 5, 2017 had been posted on a dark web registry. No financial data was exposed: Coinmama does not store credit card details, and because the platform is non-custodial, no crypto funds were at risk. Coinmama forced password resets and partnered with security firms to investigate. Users can verify their email exposure at Have I Been Pwned.

Coinmama is available in over 190 countries worldwide. Services are restricted in sanctioned jurisdictions including Iran, North Korea, Russia, Syria, Cuba, and Venezuela. Within the United States, Coinmama is unavailable in New York and Louisiana due to local licensing requirements. Some markets such as India and Nigeria are served only via third-party partners.

Coinmama is registered as an MSB with FinCEN in the United States (registration #31000172638926) and with FINTRAC in Canada. Its operating entity is registered with the Central Bank of Ireland as a Virtual Asset Service Provider under EU AML directives, and with the UK FCA as a crypto asset firm. The platform applies mandatory KYC across three tiers, uses 256-bit SSL encryption, is PCI DSS Level 1 compliant, and supports 2FA. It is operated by Wellfield Technologies Inc., publicly traded on the TSX Venture Exchange (WFLD).

Coinmama supports direct purchase of a curated set of established cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Cardano (ADA), Tether (USDT), USDC, Aave (AAVE), Chainlink (LINK), Uniswap (UNI), Compound (COMP), and Wrapped Bitcoin (WBTC). Purchases can be made with credit or debit card, bank transfer, or Apple Pay. A separate Swaps feature supports 500+ token pairs.