MoonPay is an online platform where cryptocurrency trading can take place. Supporting over 300 cryptocurrency wallets, the platform utilizes the robust and yet unbroken encryption method AES-256 for data storage.
What is MoonPay ?
MoonPay is an online platform that facilitates the buying and selling of various cryptocurrencies. Launched in 2019 and available in 160 countries, MoonPay has built a strong user base over the past few years. The platform currently boasts more than five million customers and supports over 80 different assets and 300-plus cryptocurrency wallets.
MoonPay also emphasizes its focus on a more sustainable future, stating that the company is 100% paperless and is committed to being carbon neutral by 2030. Furthermore, the platform is dedicated to making positive social changes, with goals including providing quality education, sustaining sustainable economic growth, and creating sustainable partnerships.
How does MoonPay work?
The platform simplifies the process of buying and selling cryptocurrencies with an easily accessible purchase and sale window on the website’s homepage. By using this feature, you can start your MoonPay journey in just a few minutes.
MoonPay resets asset prices and quotes every 10 seconds to ensure you get the most up-to-date deal. After selecting how much of a cryptocurrency you want to buy or sell, you’ll need to provide some information to the platform.
To purchase assets on the platform, you need to enter your email address and payment method details. If you want to sell crypto using MoonPay, you must provide additional information, including your name, address, and identification document.
Whether you’re buying or selling assets, you must link the relevant cryptocurrency wallet to the platform before making any transactions.
Through MoonPay, you can purchase over 80 assets, including but not limited to:
- Bitcoin
- Tether
- Ethereum
- Litecoin
- Cardano
- USD Coin
- BNB Coin
- Bitcoin Cash
- Algorand
- Cosmos
- Dogecoin
- Dai
- Shiba Inu
However, while the platform supports the purchase of a wide variety of assets, it only allows the sale of Bitcoin, Ethereum, Bitcoin Cash, Tether, and USD Coin. When selling assets on MoonPay, the processing time can range from one to three business days depending on your location, payment method, and bank transfer.
While the use of MoonPay may seem secure, security is not the only consideration when choosing a cryptocurrency platform. Fees are also an important factor that should be taken into account.
The platform charges a fee of 4.5% for card payments. Selling crypto on MoonPay comes with a 1% fee, in addition to all bank transfers.
