Moonpay for Crypto Deposits

Moonpay logoMoonpay was founded in 2019 by Ivan Soto-Wright, and it has quickly grown to become a major payment method for those that want to buy crypto.

The payment service provider is known for having low transfer fees for transfers into cryptocurrencies, and it also supports a wide range of fiat currencies. Most Moonpay deposits are reflect within 5-15 minutes. It is also worth noting that Moonpay is aiming at being carbon neutral by 2030. Lots of top-level celebrities have invested in the project, including Justin Bieber and Drake. You don’t need to visit Moonpay’s website in order to get started with this flexible payment method. See Crypto Lists own toplist of the best sites supporting Moonpay below.

Top 4 sites for buying, selling and trading crypto with Moonpay

This is the toplist with the best sites to buy, sell or trade cryptocurrencies with Moonpay. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button. We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.

Paxful
Paxful got over 350 different deposit methods in order to get started with crypto investing.
KuCoin
One of the exchanges available in most places around the world, with among the lowest fees and among the best compatibility for transfers between various blockchains.
Gate
Gate IO can be your gateway to everything related to crypto – with over 1400 cryptocurrencies to trade in a safe, quick and easy manner.
Binance
Largest on crypto. Over 200 cryptocurrencies to trade, both currency exchange with a wallet, CFD trading, staking and much more.

Here are the leading crypto exchanges, platforms and brokers offering funding through Moonpay.

Summary

Moonpay’s is a service provider known for being a simple-to-use. They got more payment options than other service providers in this segment, allowing you to use either Visa, Mastercard, ApplePay, SEPA, FPS, Google Pay or Samsung Pay for deposits from fiat to crypto. All those options makes it easier for people to buy and sell cryptocurrencies without necessarily knowing a lot about these coins. The deposit method offers high levels of security and even has a bug bounty program to help eliminate vulnerability issues.

Advantages

+The payment platform is highly intuitive and minimalistic.
+Moonpay supports a wide range of fiat currencies.
+0% card fees when depositing with Gate.io.
+Moonpay is supported in more than 150 countries.
+It doesn’t have a maximum payment limit.

Disadvantages

-There aren’t many crypto sites that accept MoonPay.
-Moonpay is still new and faces tight competition.

What is Moon Pay?

This deposit method has been discussed on popular publications such as Coindesk and Forbes. This platform was developed to work with third parties to enable the easy conversion of fiat currencies to crypto and vice versa. You can use it to transact in more than 150 countries, including the USA, the UK, and various countries in Europe.

Moon Pay Costs

When making payments using this payment method, you will have to pay processing fees and network fees. The network fee changes depending on network conditions, but the processing fees are consistent. When using bank transfers, you will have to pay a processing fee of 1%, but the minimum fee charged is $3.99. With PIX, you will have to pay a transfer fee of 3.5%. Transactions made using bank cards will attract a fee of 1%, and this is subject to a minimum amount of $3.99.

Transaction speed for Moon Pay

Most payments made using this deposit method are completed within 20 minutes. However, your first payment can take a few hours as the company needs to complete KYC checks and fraud checks. In rare cases where the company has to deal with lots of orders, the payments can be delayed for some hours.

When you make your first payment, make sure you check your email for instructions on how to verify your identity. If your transaction has been pending for a long time and you haven’t received an email for verification, you should contact the support team and pick the β€˜Transactions’ option from the drop-down menu.

MoonPay Deposits: How to do it?

1. Start by signing in to your crypto exchange account.
2. Then you can select the cryptocurrency you want to buy, as well as the amount you intend to purchase.
3. You can then add your wallet address and fill in the email you used to sign up on Moon Pay.
4. If you have never used this deposit option before, you will need to complete the verification procedure.
5. The funds will then reflect in your account after some time.

Which are the main countries where MoonPay is used?

Moonpay funding is available in more than 150 countries, and it has been most popular in the USA, South Korea, Thailand, and Ukraine. The company is still trying to expand the service to cover more countries. Some countries that have been excluded include Cuba, Iran, and North Korea. It is worth noting that most excluded territories don’t accept the use of cryptocurrencies.

Can you withdraw with Moon Pay?

Yes, you can withdraw funds via Moonpay payment processor. In order to make the withdrawal, you will have to visit https://sell.MoonPay.com/, where you will pick the cryptocurrency you want to sell. You can then add the rest of the details, after which you will get an estimate of the amount of fiat currency you will receive. If you are satisfied with the amount, you can complete the payment.

Reputation of MoonPay

This payment processor has a great reputation. Lots of celebrities have invested in this funding method, and that has helped generate interest in the project. Users have also appreciated the fact that it supports a range of cryptocurrencies. In addition, it aims at becoming carbon neutral by 2030. The main issue with the deposit method is that it processes payments rather slowly. Most discussions about this project are held on Twitter, where the payment processor has more than 59,000 followers.

FAQ

Here are some of the most frequently asked questions about Moonpay.

Is it safe to use MoonPay for cryptocurrencies?
Yes, this platform is extremely secure as it uses data encryption technology, as well as regular backups. There is also a bug bounty program that helps with potential vulnerability issues.

How do I set up MoonPay?
To set up this deposit method, you need to visit moonpay.com, where you will click on the β€˜Buy Crypto’ button. You can then choose the cryptocurrency you want to buy and enter the amount you want to spend in fiat. After that, you can add your crypto wallet address and complete the transaction.

Is this payment method instant?
Transactions made using this payment method usually reflect within 20 minutes, but they may take longer if you need to send verification documents. The payments rarely take more than a few hours to complete.

When was this company founded?
This payment method was founded in 2019 and primarily aimed at increasing cryptocurrency adoption. By the end of 2021, the company had closed its Serie A funding round and had a valuation of more than 3 billion.

Where is the mother company based?
This company is based in Miami, Florida. It currently serves customers from more than 150 countries.

Is Moon Pay the best payment processor?
This is among the best payment processors, especially because of its intuitive and minimalistic design. However, you need to remember that it has a small selection of listed cryptocurrencies. If you like faster transactions, you may also have a poor experience with this payment method.

Which deposit options exist on Moon Pay?
This is one of the crypto sites that accept Apple Pay, Google Pay, and credit cards. Customers outside the USA can also make payments using SEPA, UK Faster Payments, and PIX.

Which are the main competitors to Moonpay?
For comparison, Moonpay’s main competitors Simplex, AdvCash and Mercuryo don’t have SamsungPay or FPS. Also, only Mercuryo also accept GooglePay for deposits. With Moonpay, you can use Visa, Mastercard, ApplePay, SEPA, FPS, Google Pay or Samsung Pay for your deposit.

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