MoonPay is an online platform where cryptocurrencies can be traded. Supporting over 300 crypto wallets, the platform uses AES-256, a very strong and yet unbroken encryption method, while storing data.
What is MoonPay?
MoonPay is an online platform that facilitates the trading 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 has over five million customers and supports over 80 different assets and over 300 crypto wallets.
MoonPay also states that it focuses on a more sustainable future, ensures the company is 100 percent paperless, and is committed to being carbon neutral by 2030. Moreover, the platform also focuses on making positive social changes and its goals include quality education, sustaining sustainable economic growth and creating sustainable partnerships.
How does MoonPay work?
The platform simplifies the process of buying and selling cryptocurrency with an easy-to-access buy and sell window on the website’s home page. You can start your MoonPay journey in a few minutes using this feature.
MoonPay resets asset prices quotes every 10 seconds so you can get the most up-to-date deal. After choosing how much of each cryptocurrency you want to buy or sell, you will 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 proof of identity.
Also, whether you are buying or selling assets, you should connect the respective crypto wallet to the platform before taking any action.
With MoonPay you can buy more than 80 assets, including:
- bitcoin
- Tether
- Ethereum
- Litecoin
- Cardano
- USD Coins
- BNB Coin
- Bitcoin Cash
- Algorand
- cosmos
- dogecoin
- permanent
- shiba inu
However, while the platform supports the purchase of a wide variety of assets, it only allows selling Bitcoin, Ethereum, Bitcoin Cash, Tether and USD Coin. When you sell assets on MoonPay, wire transfer can take one to three business days, depending on your payment method and location.
While MoonPay may seem safe to use, security isn’t the only thing you should consider when choosing a crypto platform. Fees are also an important factor to consider here.
The platform charges 4.5 percent for card payments. Selling crypto on MoonPay comes with a 1 percent fee as well as all bank transfers.
