MoonPay is a cryptocurrency and NFT payment service. What distinguishes it from other payment services is that users can complete crypto transactions using fiat currency. It is technically an on-ramp and off-ramp service.
As a leading cryptocurrency payment service, MoonPay offers secure and legitimate services. It uses industry-standard measures to protect its customers, such as TLS 1.2 encryption and an HSTS policy to prevent attacks.
In addition to this, MoonPay’s customers have praised its customer support and ease of use. Customers also appreciate that MoonPay doesn’t ask for passwords and only communicates through legitimate email addresses.
Another key feature of MoonPay is its seamless KYC system. KYC stands for ‘know your customer’, and is a verification process that most online exchanges require. MoonPay’s KYC system can be pre-checked by users for a quick and easy experience.
This feature allows for faster transactions, which means greater control over your cryptocurrency.
Fast fact: When you exchange crypto coins for fiat money, you are using an on-ramp. You are using an off-ramp when you spend cryptocurrency on something that is not a digital asset.
Vast support for digital assets
MoonPay supports bitcoin, ETH, NFTs, and a number of other digital assets. All of this makes it a convenient way for consumers to invest in cryptocurrencies. With its fast and easy integration, it’s not difficult to make the switch from your current debit card to cryptocurrency.
MoonPay uses advanced encryption technology to protect data. TLS version 1.2 is used for security, and the company also uses robust HTTP Strict Transport Security policy (HSTS). SSL Labs provides reports on the website’s security. In addition, MoonPay offers a host of other security features and benefits for its customers. There are many reasons to use MoonPay, but the most important thing to keep in mind is its legitimacy.
As cryptocurrency has become more popular, celebrities have also turned to cryptocurrencies. MoonPay has secured $87 million in funding and is now the largest celebrity-backed crypto company with a current market cap of $3.4 billion.
What is the secret to MoonPay’s success?
MoonPay’s convenience has made it a popular service among both retail investors and celebrities. According to the company website, the platform now has over 10 million active users spread across the globe and has completed nearly $3 billion in transactions.
When NFTs first became popular, MoonPay was the payment service of choice. Users could buy their favorite NFTs without having to worry about owning cryptocurrencies. The platform grew in popularity after celebrities began using it to purchase artworks from the infamous Bored Ape Yacht Club (BAYC) NFT collection.
The BAYC collection includes 10,000 customisable digital portraits of bored-looking apes. When they were first released, they cost $250 each. They were, however, a huge hit with celebrities, and the current asking price for a Bored Ape is around $300,000.
In a typical exchange, you would need to first have a wallet, then add an equivalent amount of cryptocurrency before making the purchase – a simple but time-consuming process. The process is much simpler with MoonPay. All the user has to do is specify a budget. MoonPay then uses its rarity tools to determine a starting price for the digital asset.
MoonPay handles the process of purchasing the required cryptocurrency, purchases the NFT and then bills the customer.
Support for fiat currency
MoonPay offers many different payment methods, including fiat currency. In addition to being available in 160 countries, MoonPay also provides a host of payment methods. It’s not uncommon for celebrities to buy and sell cryptocurrencies through MoonPay. If you’re looking for a trustworthy platform for your cryptocurrency investments, MoonPay is a viable option to consider.
As a cryptocurrency payment processor, MoonPay earns money by charging processing fees. It charges a minimum fee on each transaction, typically 4% or 1% of the total transaction value.
To get started with MoonPay, you need to connect to one of their supported wallets. MoonPay also charges gas fees for use of their blockchain network. These fees are minimal and can be waived if you partner with a larger business or have higher daily transaction volumes.
Creating an account
If you want to buy cryptocurrencies, using MoonPay should make the transaction faster and easier. To use MoonPay, you need to create an account. To do so, you must provide personal information, including your full name and date of birth.
You must also provide your phone number and photo ID. After you provide all of this information, Moonpay will process your transaction. This process usually takes only minutes but could stretch for hours depending on the amount of orders placed and the security checks.
High-profile NFT service
Besides high-profile clients, MoonPay’s services have also been used by celebrities and high-net-worth individuals. MoonPay’s concierge service contacts celebrities and high-profile individuals to offer NFTs.
With a platform such as this, fans can engage in the digital asset and gain access to digital memorabilia. The platform can even be used to create and share films. There’s no limit to the amount of excitement it will inspire among movie fans.
With a strong business model and international reach, MoonPay can serve as a payment hub for crypto and fiat currencies. Its interface is minimalistic, making buying cryptocurrency through the platform as easy as purchasing any other product on the Internet. MoonPay is available in more than 160 countries, and its support of popular digital wallets makes it easy to use for both consumers and businesses. You can also use MoonPay to buy and sell digital assets.
Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.