MoonPay is a financial platform for people who wants to trade cryptocurrencies, buy NFTs and more. Formerly, understanding how crypto works was very hard. As a result of this many people stayed away from it because they couldn’t discover how it works.
Financial platforms have helped people skip a lot of processes that held back traders years back. Now, more people can participate in the market. A lot of people already know how to use their cards to make purchases online and in-stores. What these platforms do is to guide people on how to use their cards to fund a crypto account for trading.
Through these financial platforms, anyone can easily understand how crypto works. You’ll be guided every step of the way on what to do next.
In exchange platforms, traders can decide on the type of crypto to buy. The use of various payment methods is also allowed. Traders can select any method they prefer.
Furthermore, there’s a limited option to fund a crypto wallet through banks. The process is usually long and doesn’t fit most traders needs.
In additional traders are usually at alert waiting for when there will be a reduction in the price of crypto. Further delay from banks in funding their wallet could lead to an increase in the coins price. Bank delay often lead to this, due to the number of days it takes for a wallet to get funded.
Crypto platforms functions under financial regulation. They constantly check traders’ identities so no one can engage in fraud-related activities on the exchange platform. With this, first-timers will feel confident and safe to use the platform.
However, we’ll be talking about MoonPay, an exchange trading platform for all traders. You’ll also get to find out all the MoonPay supported countries, in case you’re interested in starting a trade.
Users can buy many types of crypto assets. They can also buy stablecoins that aligns with the US dollar. Through MoonPay, traders can buy NFT with crypto, card or any local currency. They can sell or trade these NFTs later.
Traders Can Use MoonPay For The Following
- Traders can use cards, Apple / Google Pay for mobile wallet and bank transfer to fund their crypto wallet. Bank transfers can be used for larger deposits for bigger coin purchases. Traders can sell their crypto on MoonPay for cash. The cash goes directly to your bank account or card.
- MoonPay is not a bank. It’s always attached to popular crypto apps like: MetaMask and Trust Wallet. Users can buy coins through MoonPay directly in these apps.
- Buying NFTs requires processes. MoonPay has an NFT Check out. Traders can use their cards to buy NFTs directly.
- There’s a MoonPay digital wallet. Users can add fund to the wallet and use it to buy coins. Some credit cards charges high fees, but through this means, high fees can be avoided.
- Traders can always swap any type of coins they want.
- Traders’ identities are carefully checked to verify ownership of any ID presented. A selfie is also taken to further confirm photo identity.
- Traders can transfer crypto between different blockchains through MoonPay’s tool.
How MoonPay Works
- Sign up for an account through MoonPay’s site. You can also use MoonPay’s mobile app for Android and iOS users.
- Follow the guide for the registration process. An email address is required, and you’ll use OTP for email confirmation.
- Identity verification is usually done before any first transaction. It requires a recognized ID and a face-match selfie.
- MoonPay’s confirmation and approval usually takes a day.
- After verification, you can start your first purchase. Choose the type of cryptocurrency you would like to buy. Type in the amount you want to use in buying crypto in your local currency. Or the amount of crypto you want to receive.
- Input your external digital wallet address for receiving coins. MoonPay can create an external wallet for you in case you don’t have any.
- Cards, mobile wallets and bank transfers are payment methods you can add to MoonPay to buy crypto with cash. You can also use it to fund your wallet.
- Review your transaction summary. Take a closer look at the exchange rate before confirming the payment.
- Finally, MoonPay will handle the entire transaction process.
- Use the order tracking to know the status of your purchase. It’s right there in the app.
- MoonPay will send the purchased assets to your external wallet address. However, transactions can’t be reversed once they’ve finalized on the blockchain.
- A final confirmation email is usually sent once you’ve received the coins in your wallet.
List of MoonPay Supported Countries
MoonPay supported countries are:
- United States
- Canada
- United Kingdom
- Australia
- Argentina
- Brazil
- Chile
- Mexico
- Belgium
- Switzerland
- Denmark
- Finland
- Germany
- France
- Italy
- Spain
- Netherlands
- Austria
- Ireland
- Norway
- Portugal
- Sweden
- India
- Japan,
- United Arab Emirate
- Malaysia
- New Zealand
- Philippines
- Singapore
- South Korea
- Nigeria,
- South Africa
- Egypt
Check the site for the full list of MoonPay’s available countries.
List of MoonPay Supported States in the USA
MoonPay services is available in all the 50 U.S. states. Puerto Rico and Guam traders can also use MoonPays’ services. MoonPay has a licenses from the New York BitLicense and Money Transmitter to function within the country.
However, the use of certain trading advanced features is restricted in New York, Texas, Hawaii and Rhode Island.
MoonPay Alternatives:
- Ramp Network
- Banxa
- Kraken
- Transak
- Mercuryo
- Coinbase
- Binance
- Cash App
Conclusion
Financial platforms have made it easy for anyone who’s interested in crypto to join the digital world. It has taken away the challenges early traders faced when accessing their digital wallet. They focus on making trading experience easy for all users.
MoonPay supported countries allows users to trade different cryptocurrency on MoonPay’s platform. MoonPay has licenses to operate in many countries, including the U.S., one of MoonPay available countries.
In addition, traders can use MoonPays’ linked app like Trust Wallet to buy coins. The use of cash to buy coins is allowed. You can use your cards, or bank transfer to fund your MoonPay account.
MoonPay is a secure platform. All users’ transactions are protected. This gives users assurance that the platform is safe.