Moonpay

MoonPay was established in 2019 by Ivan Soto-Wright and has swiftly risen to become a leading payment method for those looking to purchase cryptocurrencies.

The payment provider is recognized for its low transfer fees on cryptocurrency transactions and supports a broad array of fiat currencies. Most deposits made via MoonPay are processed within 5-15 minutes. Additionally, MoonPay is working towards achieving carbon neutrality by 2030. A number of high-profile celebrities, such as Justin Bieber and Drake, have invested in the company. You don’t need to visit MoonPay’s website to get started with this versatile payment option. Check out CryptoChipy’ curated list of the top platforms that accept MoonPay below.

Summary

MoonPay is a widely recognized service provider known for its ease of use. Offering more payment options than many other providers in this segment, it allows users to make deposits from fiat to crypto using Visa, Mastercard, ApplePay, SEPA, FPS, Google Pay, or Samsung Pay. These varied options make it more accessible for people to buy and sell cryptocurrencies without requiring in-depth knowledge about the coins. The service is highly secure and even includes a bug bounty program to address potential vulnerabilities.

What is MoonPay?

MoonPay, a platform frequently featured in prominent publications like Coindesk and Forbes, was developed to collaborate with third parties to facilitate the seamless conversion between fiat currencies and cryptocurrencies. Available in more than 150 countries, including the USA, the UK, and various European nations, it allows users to easily exchange fiat to crypto and vice versa.

MoonPay Costs

When making payments using MoonPay, you will incur both processing and network fees. While network fees fluctuate depending on network conditions, the processing fees remain stable. Bank transfer payments come with a processing fee of 1%, with a minimum fee of $3.99. PIX transfers charge a 3.5% fee, while card transactions incur a 1% processing fee, subject to a minimum of $3.99.

Transaction Speed for MoonPay

Most payments via MoonPay are processed within 20 minutes. However, the first payment may take a few hours as the company conducts KYC and fraud checks. In rare cases, if there are numerous transactions, delays may extend for a few hours. If your first transaction is delayed and you haven’t received verification instructions via email, it’s recommended to contact MoonPay’s support team and select ‘Transactions’ from the dropdown menu.

MoonPay Deposits: How to Do It?

1. Sign into your crypto exchange account.
2. Select the cryptocurrency you wish to purchase and specify the amount.
3. Enter your wallet address and the email you registered with MoonPay.
4. If it’s your first time using MoonPay, you will need to complete the verification process.
5. The funds will be reflected in your account after the transaction is processed.

Which Are the Main Countries Where MoonPay Is Used?

MoonPay is available in over 150 countries, with significant popularity in the USA, South Korea, Thailand, and Ukraine. The company is expanding its service to more countries, though it excludes regions like Cuba, Iran, and North Korea. Many excluded countries have restrictions on cryptocurrency usage.

Can You Withdraw with MoonPay?

Yes, MoonPay allows withdrawals through its payment processor. To initiate a withdrawal, visit the ‘Sell at MoonPay’ page, select the cryptocurrency you want to sell, and enter the required details. Afterward, you will receive an estimate of the fiat amount you will receive. If satisfied, you can complete the transaction.

Reputation of MoonPay

MoonPay has earned a strong reputation, bolstered by celebrity investments that have helped attract attention to the platform. Users appreciate the platform’s wide cryptocurrency support and its commitment to becoming carbon neutral by 2030. However, the payment process is relatively slow, which has been a key point of criticism. The company maintains an active presence on Twitter, where it has over 59,000 followers.

Buy all the crypto you need quickly and easily with MoonPay!

FAQ

Is it safe to use MoonPay for cryptocurrencies? Yes, MoonPay is a secure platform that uses data encryption and regular backups. Additionally, there is a bug bounty program to address any potential vulnerabilities.

How do I set up MoonPay? To get started, visit moonpay.com, click on the ‘Buy Crypto’ button, choose the cryptocurrency you want to buy, and enter the fiat amount. Then, provide your crypto wallet address to complete the transaction.

Is this payment method instant? Typically, transactions via MoonPay are completed within 20 minutes, though they may take longer if verification documents are required. In rare cases, the payment might take a few hours to process.

When was this company founded? MoonPay was founded in 2019 with a focus on increasing cryptocurrency adoption. By the end of 2021, the company had completed its Series A funding round, raising a valuation of over $3 billion.

Where is the parent company based? The parent company of MoonPay is based in Miami, Florida. It serves customers in over 150 countries.

Is MoonPay the best payment processor? MoonPay is considered one of the best payment processors due to its intuitive design, though it offers a limited selection of listed cryptocurrencies. If faster transactions are important to you, you may find this platform lacking in that area.

Which deposit options are available on MoonPay? MoonPay supports Apple Pay, Google Pay, and credit cards, with users outside the USA also having access to SEPA, UK Faster Payments, and PIX for deposits.

Who are MoonPay’s main competitors? In comparison, MoonPay’s main competitors—Simplex, AdvCash, and Mercuryo—do not offer Samsung Pay or FPS, and only Mercuryo accepts Google Pay for deposits. MoonPay stands out by supporting a wide range of payment options such as Visa, Mastercard, ApplePay, SEPA, FPS, Google Pay, and Samsung Pay.