Bitmama review: score, licensing and risks
58/100SCORE · CMixed record
Grade C, fair
African crypto and payments app with a virtual card product, licensing still in progress across most markets it serves.
The facts
- FOUNDED
- 2019
- HEADQUARTERS
- Nigeria
- CUSTODY
- Custodial.
- MiCA / EEA
- Not authorised across the EEA.
- US ACCESS
- No.
- PROOF OF RESERVES
- No standard proof of reserves publication.
- FEES
- Typical for a venue of its size. Confirm current pricing on its own site.
- ASSETS
- Varies
How the score breaks down
Each dimension is explained on the methodology page.
Where it is strong and where it is not
✓ Strengths
- Established venue in Nigeria
- Local NGN deposit and withdrawal rails
✗ Weaknesses
- Nigeria focused, so limited use elsewhere
- Less independent scrutiny than the global majors
- Smaller asset list and thinner liquidity
Incident history
No major security breach or regulatory action on record.
Our read
African crypto and payments app with a virtual card product, licensing still in progress across most markets it serves.
COMPARE
RISK WARNING
Crypto assets are highly volatile and largely unregulated. You can lose everything you put in.
Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation
to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.