MoonPay lets you buy over 100 different types of cryptos – like Bitcoin and Ethereum – in more than 160 countries. You can use your credit or debit card, Apple Pay, Google Pay, PayPal, or even make a bank transfer. Founded all the way back in 2019 in Miami, this so-called “fiat onramp platform” requires you to do the KYC verification & they charge fees that range from 0% if you use MoonPay Balance with a bank transfer, to as high as 4.5% if you’re paying with a card. You can access MoonPay directly but it can also be found via partner platforms such as Swapzone where you can compare the rates that different buy/sell providers are offering and find the best deal.
If you’re brand new to the world of cryptocurrency or just don’t want to have to deal with all the hassle of buying crypto with regular currency then MoonPay is probably your best bet. This guide’s going to walk you through everything you could possibly need to know about using MoonPay – including payment methods and fees, & give you a step-by-step guide on how to get started.
What is MoonPay?
MoonPay’s a cryptocurrency payment platform that was founded back in 2019 by Ivan Soto-Wright, Victor Faramond, and Maximilian Crown. They’re based out of Miami, Florida & they specialise in offering fiat-to-crypto services in more than 160 countries, making them one of the most accessible ways to buy cryptocurrency out there.
You can use MoonPay to buy over 100 different cryptocurrencies including Bitcoin, Ethereum, USDT, Litecoin, XRP, and loads of others. MoonPay works in a way that you’re always in control of your crypto – they never hold onto any of it for you. Instead, once you’ve made a purchase, they send your crypto straight to your wallet.
To date, MoonPay have processed over $2 billion worth of crypto transactions & they have a very respectable Trustpilot rating of 4.2 out of 5. They also integrate with popular wallets such as MetaMask & Trust Wallet, and they partner up with aggregator platforms like Swapzone, which allows users to access MoonPay’s services & simultaneously compare rates from multiple providers.
Using MoonPay via Swapzone to Get the Best Deals
While you could just go ahead and buy crypto directly through MoonPay, using Swapzone is probably a much smarter way to go. Swapzone brings together rates from 28+ different buy/sell providers – including MoonPay – allowing you to compare prices & find the best deal for your purchase.
Here’s the thing – different fiat onramp providers are offering different rates and fees. By using Swapzone’s buy interface – like when you’re buying Bitcoin with EUR on Swapzone or buying Ethereum with USD – you can see what MoonPay’s rates are, compared to their competitors. If MoonPay’s the best rate on offer, you can just pick it and complete the purchase. If another provider is offering a better deal, you can do that instead.
The best part is, you don’t even need to create an account on Swapzone – you can just see the offers, pick the one you like best & go to it. This gives you a much clearer idea of what you’re getting into, and you get full control over your purchase.
Payment Methods on MoonPay
Buying crypto with MoonPay has never been easier – They offer a whole bunch of payment methods that let you buy in with what you’ve got. Whether you’re from New York or Nairobi, its all good. MoonPay support:
Card Payments.
Accepting all the major credit and debit cards – Visa, Mastercard and the rest. Paying with a card is the fastest way to get your crypto. Once we verify the payment, the transaction is complete, straight away.
Mobile Payments.
Want to buy with your phone? No problem, we’ve got Apple Pay, Google Pay and Samsung Pay all covered. It’s super easy to make a purchase with your mobile device.
Digital Wallets.
We also work with PayPal and Venmo (in certain areas) – giving you loads of options to make your crypto purchase. You can use these wallets as an alternative to cards, and they’re pretty handy too.
Bank Transfers.
If you don’t mind waiting a bit longer, bank transfers are another option for you. They’re actually a lot cheaper than using your card – especially if you’re in the EU, where SEPA transfers are the way to go, or in the US. And if you’re outside of those regions, we’ve got domestic transfers sorted too.
Local Payment Methods.
We also have special options for certain countries like Brazil, the UK and Nigeria – things like PIX, Open Banking and YellowCard. They’re all region specific so you can buy crypto in the way that makes sense to you.
MoonPay Balance.
We let you add funds to your MoonPay account using a debit card or Apple Pay – and then use that to buy crypto with zero extra fees to pay, just the network costs.
So which way to buy crypto is the best for you? Well it depends what you’re after – if speed is your thing, then a card or mobile payment is the way to go. But if you’re on the lookout for the best price, bank transfers and a MoonPay Balance are probably your best bet.
How to Buy Crypto with MoonPay: Step by Step
Ready to buy some crypto? Here’s how the whole process works.
Choosing Where to Start
You’ve got a couple of options for buying crypto with MoonPay:
Option 1: Just head over to the MoonPay website or grab the app. Click “Buy Crypto” and you’re good to go.
Option 2 (Recommended): Take a look on Swapzone instead. They let you compare rates from different providers, including MoonPay. Pick MoonPay if it’s offering the best deal, and you’ll get sent to complete the purchase.
Setting Up Your MoonPay Account
MoonPay makes it easy to get started with a few different options for logging in. You can use your Apple account, Google account, or email address. If you don’t have a wallet yet, MoonPay will set one up for you in no time – just using your email, no fuss.
Picking the Cryptocurrency You Want to Buy
Choose which crypto you’re after – whether that’s Bitcoin, Ethereum, or something a bit more niche. Enter how much you want to spend, and MoonPay will show you how much crypto you’ll get based on the current market rate.
Choosing How You’ll Pay
Select how you want to pay from the list – but keep an eye on the fees. Some methods, like using your debit card, can be pretty pricey (up to 4.5% in some cases), while bank transfers are capped at 1%. If you use your MoonPay Balance, you won’t pay any extra fees, just the tiny costs of sending transactions.
Getting Verified
Before you can make a purchase, you’ll need to confirm your identity with MoonPay’s KYC process. This is all about following the rules to stop money laundering and know your customer.
MoonPay has a few different levels of verification to fit your needs:
- Basic: Just email and phone number (up to €150 a month)
- Standard: Upload an ID or passport, and take a selfie (up to €20,000 a month)
- Enhanced: Prove where you live (up to €50,000 a month)
Most of the time, the whole process is over in just a few minutes. First-time users might take a bit longer, though.
Making the Purchase
Double-check the details: exchange rate, fees, and where your crypto will end up. Confirm the purchase, and MoonPay will sort out the rest.
Transactions from cards are usually instant – once you’ve been verified, that is. Bank transfers take a bit longer – typically 1-2 hours. Once it’s all done, your crypto will turn up in your wallet – whether that’s your own wallet or the one MoonPay made for you.
Fees for Buying on MoonPay
So, what are MoonPay’s fees like? They vary depending on how you pay:
- Cards: Up to 4.5%
- Bank transfers: Up to 1%
- MoonPay Balance: Zero extra fees – just whatever the network/gas fees are
These fees don’t include network costs, also called gas fees, which are charged by the blockchain network itself. The total cost of your purchase will depend on the payment method you select and current network activity.
Want to keep your costs down? Try using a bank transfer to add cash to your MoonPay account, then use your MoonPay Balance for the actual purchase. Or, compare rates on Swapzone to see if MoonPay is the best deal going.
Frequently Asked Questions about Buying Crypto with MoonPay
Will my Country Allow Me to Use MoonPay?
MoonPay has got coverage in most parts of the world with 160+ countries on their list. So you can use it in the USA, UK, EU, Asia and Latin America, just exclude Hawaii, Montana, New York, Nevada and Virginia from the equation. If you really want to know if MoonPay works in your area check their official website or try making a transaction and see if it goes through.
Is it Safe to Use MoonPay?
MoonPay is considered a secure platform. They hold a SOC 2 Type 2 certification which is a big deal, they use the top-grade AES-256 encryption to keep your data secure, and to top it all that they are PCI-DSS compliant when it comes to payment processing. Not to mention they’ve got ISO 27001 and 27018 certifications. What this all means is that they don’t hold onto your cryptocurrency – it goes straight to your wallet.
How Does MoonPay Compare to Other Buy Services?
MoonPay is not the only fiat onramp around. In fact there are several options available at the moment. Your best bet is to shop around and compare the offers from multiple providers. If you use an aggregator like Swapzone you can see how MoonPay’s rates stack up against Coinbase Onramp, Transak, and Ramp Network for example. This way you can find the best terms for your purchase.
Get Started with MoonPay on Swapzone Right Now
Buying crypto through MoonPay is ridiculously easy. They accept a whole range of payment methods like credit cards, Apple Pay, PayPal, and bank transfers. Plus they support 100+ cryptocurrencies and operate in 160+ countries so no matter where you’re based you can use MoonPay to buy some crypto.
Using MoonPay through Swapzone’s buy/sell interface is a great idea. Here’s how you do it:
To use MoonPay and compare prices on Swapzone do the following: head over to Swapzone, navigate to the buy section, select your fiat currency (say USD or EUR or GBP) and choose the cryptocurrency you want to buy – Bitcoin, Ethereum or any of the 4500+ supported tokens. Swapzone instantly shows you the offers from 28+ providers, including MoonPay, so you can see exactly how much crypto you will get and what the total cost including fees is.
Now it’s time to do some comparison shopping. You can see which provider is giving you the best deal for your specific purchase. If MoonPay has the best offer, great you can go with that. If another provider is offering a better deal you can switch to that one instead. This process only takes a few seconds and can save you money on every purchase.
You can do the same for selling crypto back to fiat. Swapzone shows you which provider, including MoonPay, is giving you the best rate for converting your cryptocurrency to dollars or euros.
No registration is required on Swapzone, just pop in, compare, choose and buy. Ready to get the best rates? Head on over to Swapzone now and compare MoonPay to the other providers and start buying crypto with confidence.
