Once you have completed your order, what happens next? It can take some time for you to receive your coins... we may be waiting for you to complete an action at your end before we can deliver these to you. Continue reading to find out what happens after you place your Buy or Sell order with us.
Have you just bought or sold cryptocurrency? Hooray!
- Once your payment is approved, you will either verify your order via Two-Factor Authentication, or receive an email asking you to confirm your wallet address. If you don't have a wallet yet, you can download the Coinmama wallet app here for Android and here for iOS. If you placed your order using a bank transfer, then the confirmation link will be in the order summary email you received. All you'll need to do is to double-check that your wallet address is correct, then click the link in the email to confirm.
- We typically send your coins within an hour upon receipt of both your payment and your wallet confirmation. You'll be able to see the transaction on the Blockchain within about ten minutes. Once your transaction is on the Blockchain, it still needs to be verified by miners before you receive your coins. Usually, this process takes up to ten minutes, but if there's a lot of activity happening it can take longer. You can read more about Blockchain delays and confirmations here. Don't worry if the coins aren't in your wallet immediately—if they've appeared on the Blockchain, they're definitely on their way.
- Once you've sent your coins to the wallet address provided, you'll be able to see them on the Blockchain. It may take another ten minutes or so before they are confirmed by miners and received in our wallet. You can read more about Blockchain delays and confirmations here.
- When your coins have been received, we'll transfer the fiat amount of your transaction to your bank account. It usually takes 1-2 business days for the funds to go through.
How long will my order take?
When buying cryptocurrency, your payment method will mostly determine the speed of your transaction.
Credit and debit card - purchases are processed within an hour. The coins will still need to be confirmed on the Blockchain before you see them in your wallet, so in most cases, you'll have your coins within 60 minutes of completing your order.
Bank transfer - payments are initiated by the customer through their online banking system or at the bank branch. If you've sent a payment to Coinmama via bank transfer, it will usually take 1-3 business days to clear. We will send your coins as soon as we receive your transferred funds, and you should see them in your wallet about twenty minutes after we receive your payment.
When selling Bitcoin to Coinmama via bank transfer, the money for your order will be transferred to your bank account as soon as we receive your coins in our wallet, and you can expect to receive it within two business days.
Occasionally, there may be a delay caused by one of the following:
Blockchain delays - The transaction will appear on the blockchain as soon as you send the coins, however, it will still need to be confirmed before the coins are received in Coinmama’s wallet. Confirmation usually takes about ten minutes, but when there is a lot of activity on the Blockchain, or if you have a low mining fee set on your wallet, it can take longer. We will not be able to complete your order and process the bank transfer until the coins are confirmed.
Invalid IBAN - If your IBAN is incorrect, we won’t be able to transfer funds to you. Often we can detect an incorrect IBAN immediately, but sometimes the bank will alert us when we try to complete the transfer. We’ll always send you an email if something goes wrong.
Manual process - Due to the fact that the safety of your coins is of the utmost importance to us, we're required to manually process some orders. Usually this takes a couple of minutes, but sometimes it can take up to a day. We’ll always keep you posted by email.