The amount of time it takes to complete your order depends on whether you are buying or selling cryptocurrency, which coin you have selected, and the payment method you use.
When buying cryptocurrency, your payment method will mostly determine the speed of your transaction.
- Credit and debit card purchases are generally approved and processed within fifteen minutes. After that, they still need to get confirmed on the blockchain, which usually takes an additional ten minutes.
- 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'll usually see the coins in your wallet about ten minutes after that.
Occasionally, receiving coins takes a bit longer due to Blockchain delays.
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. Sometimes 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.
- Order under review. Our risk and fraud team takes its job seriously, and we check every order we receive. Usually this takes a couple of minutes, but sometimes it can take up to a day. We’ll always keep you posted by email.
If you place an order selling Bitcoin to Coinmama and the funds do not arrive by the third business day, check your email to see if there was a delay. If you haven’t received an email from us, contact our support team for further assistance.