Is MoonPay Safe And Legit? - Wealth Quint (2024)

FAQs

Is MoonPay a trusted source? ›

MoonPay Is a Legit Platform That Is Safe to Use

MoonPay is committed to offering its customers a safe and simple platform for buying and selling cryptocurrency, as well as using crypto to pay on other websites.

Identity verification services to prevent fraud. This allows MoonPay to confirm your identity by comparing the information you provide us to public records and other third party databases.

MoonPay is not registered with the U.S. Securities and Exchange Commission and does not offer securities services in the United States or to U.S. persons.

MoonPay operates as a financial technology company. The company provides payment solutions for cryptocurrency. It converts fiat currencies and cryptocurrencies using all major payment methods, including debit and credit cards, local bank transfers, and more. It was founded in 2018 and is based in Dover, Delaware.

If we haven't already sent you your cryptocurrency, we may be able to cancel your transaction. In this situation, we will send you an email to confirm that your order has been cancelled and that your bank transfer will be refunded within a few working days.

A MoonPay transaction may fail if MoonPay could not accept your payment, verify your account, or verify your payment method. In many cases, your bank may have blocked your transaction because it was a crypto purchase.

Why do I need to verify my identity? Identity verification is required in order to remain compliant with Anti-Money Laundering (AML), countering the financing of terrorism (CFT) and Know Your Customer (KYC) regulations internationally.

To successfully complete such a payout, customers are requested to link their bank account with their MoonPay profile. The linking process is securely provided and managed by the service provider "PLAID", upon successfully adding, you will be able to seamlessly continue sell orders without any difficulty.

As we are a fully regulated business, we need to collect this information from you in order to comply with international financial regulations, including anti-money laundering (AML) and Know Your Customer (KYC) practices.

How do I use MoonPay from USA? ›

Just visit moonpay.com/buy or one of our partner wallet applications, select a cryptocurrency from the drop-down menu, and enter how much you'd like to purchase in your currency of choice (e.g. New Zealand Dollar). If you're using moonpay.com/buy, next you'll be asked to enter your wallet address.

Anyone with a supported card can use MoonPay services except for residents in the following countries: Afghanistan. Albania. Anguilla.

Ivan Soto-Wright - Co-Founder & CEO - MoonPay | LinkedIn.

Ivan Soto-Wright is Co-founder and CEO of MoonPay, a fintech company that builds payments infrastructure for crypto. He is also Founder and General Partner of HODL.vc, a venture development studio that builds, stakes and invests in crypto and blockchain projects.

Credit/debit card (including MasterCard, Visa, and Maestro) Apple Pay. Google Pay (supported only on Android devices) SEPA and SEPA Instant (EUR-denominated transactions in SEPA countries only)

Can I transfer/withdraw a balance from my virtual card? Once funds have been loaded to a card, those funds cannot be transferred or withdrawn; however, you can delete a card and receive credit to your Moon account for any unspent amount.

You can review your past orders here: https://buy.moonpay.com/trade_history, or visit moonpay.com/buy, click the menu icon (≡) in the top right corner, and then click “Trade History” to log in and view your past orders.

MoonPay's purchase fee is 4.5% or $3.99, whichever is higher. That places it among the more expensive options reviewed by NerdWallet. And beyond the transaction fees, customers are responsible for network fees required by the underlying cryptocurrency networks.

Error: "Your transaction has been declined"

Ensure you've correctly completed the identity and document verification process. Please refer to the identity verification FAQ page. Try again with a different card (Visa or Mastercard), issued by a different bank. Try again using a different payment processor.

How long has MoonPay been around? ›

MoonPay's original product, which launched in 2019, is a payment infrastructure that enables users to exchange traditional fiat currencies and cryptocurrencies through the MoonPay website or through one of its partnerships with Bitcoin.com, Binance, or 250+ others.

Start by purchasing Bitcoin for as little as $30 on MoonPay. Buy Bitcoin with peace of mind. MoonPay follows strict security measures to ensure you have a safe Bitcoin purchase.

Please note: MoonPay has a 10,000 USD/Euro limit per purchase as well as a monthly purchase limit of 50,000 USD/Euro.

Visit moonpay.com/buy, place an order, and you will be prompted to enter your information and upload documents. We will then verify your identity and approve your transaction, provided you have met the following requirements. To give you access to our services, we need to know your legal first name and legal last name.

Moonpay accepts most major credit cards, including VISA and MasterCard. Some virtual, prepaid, and debit cards are also accepted. Note, however, that some issuer banks have their own terms regarding where and when those cards can be used and may decline the charge on their side.

The best place to buy Bitcoin with PayPal

One of the most recommended ways to buy and sell BTC with PayPal is through MoonPay. You can use Moonpay to buy BTC with your electronic wallet or other preferred payment methods.

Proof of ID

To give you access to our services, we need to know your legal first name and legal last name. You can send us the following type of government-issued identification documents photographed: International passport (currently not supported for US customers) National ID card (both sides)

The platform has grown particularly popular over the past year because of its convenience; users don't need a crypto wallet to make purchases through MoonPay, and can sign onto the platform through an existing Google account.

MoonPay is pleased to announce that we are now registered as a cryptoasset business with the United Kingdom's Financial Conduct Authority. The FCA regulates the UK's financial services industry with the aim to protect consumers and promote healthy competition.

How many customers does MoonPay have? ›

The company says it has been profitable since launching its platform in 2019. Its service is now used by more than 10 million customers in 160 countries.

Unlike an actual transaction, a pre-authorisation does not take funds out of your account, it simply puts a hold on those funds until we can confirm you've passed our verification process, and that your transaction has been sent for processing.

You can buy Bitcoin in small or large quantities. Start by purchasing Bitcoin for as little as $30 on MoonPay. Buy Bitcoin with peace of mind. MoonPay follows strict security measures to ensure you have a safe Bitcoin purchase.

Identity verification is required in order to remain compliant with Anti-Money Laundering (AML), countering the financing of terrorism (CFT) and Know Your Customer (KYC) regulations internationally.

MoonPay is available in more than 160 countries. You can buy crypto using MoonPay in Exodus Mobile, Exodus Desktop, and Exodus Web3 Wallet! Your Exodus wallet connects to MoonPay so that you can buy crypto quickly and easily.

The IRS can track cryptocurrency transactions through several methods, including the use of subpoenas, blockchain analysis, and third-party reporting by cryptocurrency exchanges.

To successfully complete such a payout, customers are requested to link their bank account with their MoonPay profile. The linking process is securely provided and managed by the service provider "PLAID", upon successfully adding, you will be able to seamlessly continue sell orders without any difficulty.

The IRS treats cryptocurrency as property, meaning that when you buy, sell or exchange it, this counts as a taxable event and typically results in either a capital gain or loss. When you earn income from cryptocurrency activities, this is taxed as ordinary income.

MoonPay Alternatives

If you want a speedy way to buy crypto, MoonPay is an excellent choice. However, if you want more coin support and lower trading fees, exchanges like Binance and Coinbase are better options. Furthermore, many exchanges offer their own wallets.

Proof of ID

To give you access to our services, we need to know your legal first name and legal last name. You can send us the following type of government-issued identification documents photographed: International passport (currently not supported for US customers) National ID card (both sides)

What country is MoonPay from? ›

Founded in 2018, Miami-based MoonPay's software lets users buy and sell cryptocurrencies using conventional payment methods like credit cards, bank transfers, or mobile wallets like Apple Pay and Google Pay.