With over 5 million customers in 150+ countries, MoonPay is one of the most popular crypto trading solutions out there. In fact, you might have already used its services through one of its many exchange and wallet partners without even realizing it.
Ease-of-use and global availability are where this crypto payment platform shines. But high fees and a lack of trading tools are significant downsides. This MoonPay review is covering the features, pros and cons, and pricing so you can decide if it’s worth using.
MoonPay is a crypto trading and payment platform that supports 80+ assets. It’s globally-friendly and works in 150+ countries. However, high trading fees and a lack of trading tools are the main downsides investors should consider.
- Extensive cryptocurrency support
- Supports numerous currencies and payment methods
- Numerous crypto wallet and exchange integrations
- Expensive trading fees
- No cryptocurrency swapping
- No advanced trading tools
- No crypto staking
What We Like About MoonPay
MoonPay only began in 2019. Since then, this crypto trading and payment platform has grown to over 5 million customers and operates globally.
Ease-of-use is really the name of the game for MoonPay. And there are several features that help explain why MoonPay has grown so quickly.
Simple Trading Process
Buying crypto with MoonPay is incredibly simple. All you have to do is visit the website and click the “Buy crypto” button to start.
This brings up a simple quote screen where you pick your cryptocurrency and fiat. MoonPay supports dozens of currencies, and the quote screen displays how much crypto you’re getting for your money. Quotes also update every 10 seconds so you can lock-in the current price.
You also have plenty of payment options. U.S. customers can use payment methods like their credit or debit card, Apple Pay, Google Pay, and Samsung Pay.
As for international customers, MoonPay supports credit and debit cards plus options like SEPA.
You still complete know your customer requirements before placing your first trade. This requires verifying your identity with your name, phone number, and pictures of government ID. But even with verification, MoonPay is a fast way to buy dozens of popular cryptos.
Another useful MoonPay feature is the ability to sell cryptocurrency for fiat. Customers in the United States, EU, and the UK have access to selling. The quote screen works the same as the buying process except you enter how much crypto you’re selling and the currency you want.
You also enter your crypto wallet address in case MoonPay can’t process the sale for whatever reason and has to return your crypto. Finally, you enter your bank account details for your withdrawal method.
MoonPay only lets you sell several assets currently:
- Bitcoin Cash
Generally, payments process in three to four business days in the U.S. and one to three business days in the UK and EU.