I decide to talk about Moonpay because is a new Crypto Exchange and as Crypto enthusiasts, we need to be always up to date regarding Crypto
So are you looking for a convenient way to acquire crypto? Look no further, because in this article we will feature the website MoonPay, including its pros and cons so that you can make up your mind.
A financial technology startup called MoonPay develops the infrastructure for cryptocurrency payments. With the help of all common payment methods, such as debit and credit cards, local bank transfers, and other mobile payment methods such as Apple pay and Google pay, users may seamlessly convert between fiat currencies and cryptocurrencies. More than 250 of the most popular wallets, websites, and applications trust MoonPay to process payments and fight fraud. MoonPay operates in more than 160 countries. Although its high fees and lack of trading features may restrict its utility for seasoned users, MoonPay can be a handy and straightforward way to buy cryptocurrency.
WHAT DOES MOONPAY OFFER AND HOW DOES IT WORKS?
MoonPay wants to make it simple for everyone to invest in cryptocurrencies, no matter where they live or what currency they use. Additionally, it wants to assist companies in setting up bitcoin payments on their websites. In this regard, MoonPay is a cryptocurrency-only version of conventional payment processors like PayPal. There are several MoonPay features you may use to help it achieve its objective. If this is your first MoonPay purchase, you must first complete the know your customer (KYC) verification process. This entails verifying your phone number, name, and address as well as submitting official identification, such as a passport or driver’s license.
If you provide crisp photographs, most verifications, according to MoonPay, finish up automatically. If not, verification could take a few seconds or a few days. However, MoonPay is a quick and easy option to buy a wide variety of cryptocurrencies due to its rapid account verification for many accounts and straightforward purchasing procedure.
PROS About Moonpay
MoonPay strives to make purchasing cryptocurrencies as easy as possible, a challenging challenge for a decentralized business where many rivals have been making the same effort. With MoonPay, you can sign up, confirm your identity, and complete a transaction with a credit card from a single screen thanks to its simple, web-based design.
MoonPay aims to establish itself as a crucial middleman for cryptocurrency firms that wish to transact with consumers who use cash. For instance, NFT sellers frequently have to take just cryptocurrency as payment on most other platforms. However, developers can sell NFTs to those who might not be familiar with buying cryptocurrency by using MoonPay.
Various cryptos available
MoonPay has roughly 40 coins available, which puts it on an equal level with several full-featured crypto exchanges. It’s important to note that MoonPay offers variations of well-known cryptocurrencies like Ethereum and USDC that may be utilized on different blockchain networks.
CONS About Moonpay
High charges: Using MoonPay will cost you money, but the convenience is worth it. Depending on which is larger, transaction fees are $3.99 or 4.5 percent. It is possible to pay less if you fund your account with a bank transfer, but that option is not available in the US.
Cards only: To use MoonPay, you must have a credit or debit card (or a card linked to Apple Pay or Google Pay). There are several problems with this. First of all, not all credit cards will cooperate with cryptocurrency purchases; valid transactions frequently bounce back or are marked as fraudulent. Second, borrowing money with a credit card to invest in cryptocurrencies might be problematic because high-interest rates can amplify possible losses. Finally, it may be wiser to use a debit card to make purchases rather than borrowing money to acquire cryptocurrency.
Limited trading: MoonPay offers a respectable range of cryptocurrencies for purchase, however, it is difficult to exchange one cryptocurrency for another. You may currently sell a few cryptocurrencies on MoonPay. The platform does not offer any options for crypto-to-crypto trades, but it does let you sell a few coins for cash. Although some cryptocurrency wallets that MoonPay works with might offer swaps on their platforms.
HOW DOES MOONPAY SUPPORT WORK?
The MoonPay customer support team is accessible around-the-clock. Their Help Center should be consulted first for any support-related inquiries. Customers can use this contact form to send a support ticket if they have any questions about MoonPay.
Written by: Francesco La Rocca
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