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Is MoonPay Safe To Use?

Written By Sushma Singh

Just like millions of people out there, are you also willing to invest in cryptocurrencies and reap massive profits? If you are looking to build a handsome income in trading cryptocurrencies or holding them for the long term, it is imperative to opt for a trusted cryptocurrency exchange that is reliable and keeps all your digital assets secure. Isn’t it? In this blog, we will talk about one of the most trending cryptocurrency apps, MoonPay, and is MoonPay safe to use? MoonPay is an app that lets investors buy, sell and trade crypto assets seamlessly. So, should you also start using MoonPay, before letting you know the answer, let’s first get to know about MoonPay in brief.

What is MoonPay?

What is MoonPay?

MoonPay is a payment processor that allows you to accept cryptocurrency payments on your website or online store. You can also use this magnificent platform to send and receive cryptocurrencies. MoonPay is one of the few payment processors that allow you to accept multiple virtual digital assets, including Bitcoin, Ethereum, Litecoin, etc.

MoonPay can also be used to convert your Cryptocurrency into fiat currency (USD, EUR, GBP, etc.), which can be further deposited into your bank account. MoonPay is a cryptocurrency exchange with offices worldwide.

The company was founded in 2018 and is headquartered in Miami, Florida. It offers traditional payment methods such as credit cards, bank transfers, and Apple Pay to buy cryptocurrencies and keep them secured. Additionally, they accept mobile wallet payments too.

According to recent reports, with seven million+ customers, this new player has certainly made its mark. But the question is, Is MoonPay safe to use? Is it legit? And how does it work exactly? In this article, we will take a look at everything you want to know about MoonPay which will help you decide if this service is worth using or not. So let’s dive in!

Is MoonPay safe to use?

Many crypto investors or traders are curious to find one thing, is MoonPay safe to use? MoonPay is a safe, secure, and highly trusted crypto exchange that facilitates the processing of all digital coin transactions seamlessly. Whether you are purchasing or selling crypto assets, you can do everything at ease. You can also use MoonPay’s advanced features to set up recurring payments, escrow services, etc.

They use the AES-256 encryption method, which meets industry standards for protection against hacking attacks. All of their data centers comply with ISO 27001 and PCI DSS. These are the two important pieces of information security equipment commonly found in today’s business environment.

MoonPay is a secure and private way that empowers users by building a seamless payment structure for cryptocurrencies. The users do not need to worry about their information being exposed to any outsider while converting between fiat currencies and cryptocurrencies using different payment methods offered by this platform. The company has taken industry standards measures for their customers so that they can have complete peace of mind and enjoy enhanced data security.

MoonPay Reviews

One of the leading review websites says MoonPay has more than 40 thousand reviews, out of which more than 70% have rated the app as excellent. More than 80% of reviews rated the app above average, so you know your money will be safe when using this platform. In addition, the platform is user-friendly and offers excellent customer support.

In just 4 years, users in more than 150 countries have started using MoonPay to do crypto transactions. Many businesses or brands accepting Cryptocurrencies have started integrating MoonPay into their systems to make it easier to pay via cryptocurrencies without having your personal information stored on an external site. Are the reviews and support for MoonPay enough to answer is MoonPay safe to use? That is up to you to decide.

Can you buy Bitcoin with MoonPay?

Can you buy Bitcoin with MoonPay? | Is MoonPay safe to use

Many people have been looking for ways to buy Bitcoin with MoonPay. MoonPay is the ultimate place for investors and traders who want to buy Bitcoin in fiat currency exchange. Overall, buying Bitcoin with MoonPay is a relatively simple process.

Some of the most popular exchanges include Binance, Coinbase, and Kraken allow you to buy cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Cardano. You need to select the amount (in dollars or euros) representing your desired investment.

The next step is to create an account by submitting required documents such as identity proofs and photos. After that, verify your bank details. Once all this has gone through, you are all set to open a new account on a cryptocurrency exchange like MoonPlay.

Also Read: 20 Best Crypto Exchanges without KYC Verification

Can You Get MoonPay Payment Refunded?

The risk of getting back your money with MoonPay is limited. As per their guidelines, once the transaction occurs and the payment is completely processed, it is not possible to cancel or refund the amount for MoonPay.

There can be no refunds for crypto transactions and once the payment has been made, there is no probability of getting your money back. However, you can only get it back when you sell that crypto coin.

Still, if you ever want to take a chance or try your luck to get your money refunded, you can contact their customer support. Their support team is always willing to resolve customers’ issues quickly and efficiently, however, they might not be able to help you anyhow in these types of cases.

How does MoonPay Handle Failed Transactions?

MoonPay provides many safety features to ensure that your transactions are secure. If there is ever a case where failed transactions occur, MoonPay will refund you within a few days if it is due to card payments or bank transfer failures.

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However, it may take more time in some cases where funds haven’t gone through yet from your end. If it takes longer than 10 days to get refunded, please contact the bank and the inspection team via email or live chat within their official website’s user interface.

MoonPay is a safe, secure, and legit platform for investors. This means you need not worry. One of the best security features on this site is the protection of users’ information and personal details from hackers who want to access your financial data, such as transactions or account numbers!

Their Customer support also stands strong against any transaction disputes, making it more trustworthy than other exchanges out there.

What is required to open an account in MoonPay?

Signing Up with MoonPay is easy; all you require is some basic documents. Once you sign up using your email ID and upload the KYC documents, you will be set. The verification steps require you to upload all your documents validating your identity:

  • Name
  • Address
  • Mobile Number
  • Date of Birth
  • Valid Government ID Proof

How to increase purchasing limit in MoonPay?

MoonPay offers many perks to investors or traders who are willing to invest in cryptocurrency. You can increase your account purchasing limit straightforwardly, unlike other crypto exchanges.

Want to know the ways to increase your account limit with MoonPay? In case you want to increase your posted amount limit then you will have to contact support@moonpay.com and submit a formal request and they will get back to you. Primarily, they might ask you to submit additional information and provide additional records to raise your account limit.

Pros of MoonPay

Here are some advantages of MoonPay:

  • A quick and easy way to buy Cryptocurrency
  • Get your account verified in just minutes and enjoy increased spending limits
  • Internationally available

Cons of MoonPay

Here are some disadvantages of MoonPay:

  • With processing fees being higher than many other crypto exchanges, it is hard for beginner investors to opt for this platform.
  • You will have to use a wallet with your own identity, like PayPal.
  • MoonPay is not available in some states of the US

Also Read: 11 Best Cryptocurrency Apps

Is MoonPay a Scam?

Is MoonPay a Scam?

One of the most common questions you might have found on the internet lately is whether MoonPay is a scam or not? It is similar to the question we are answering – is MoonPay safe to use? Many different sources across the web verify the integrity of this platform, however, few of them may suggest you never opt for MoonPay.

MoonPay is a trusted payment platform with an extensive list of corporate integrations. The company has never been involved in any controversy to date.

All users must complete their KYC before they can use any features on the site, such as sending altcoins globally or purchasing virtual assets.

The platform is not a scam and is trusted by more than 150 countries worldwide! Launched in 2018, MoonPay has been operating for four years now and has gained the utmost trust of millions of crypto investors worldwide.

The platform has never reported any fraud cases and keeps the users’ data fully secured. All user information, including passwords and messages, is encrypted. MoonPay does not allow any unauthorized individual to access any users’ data.

So, is MoonPay safe to use? By now you would have got the answer.

You will have a great experience investing your money and keeping your digital assets stored on this platform. The best part is that MoonPay is fully responsive and easy to use, making it an ideal choice even for first-time users to opt for this platform.

Did you not try using MoonPay yet? Let us know how it goes in the comments below. Hope you found this blog interesting. Stay with us for many more cryptocurrency blogs. Happy Reading!

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Sushma is a full-time blogger and financial expert. Join Sushma and 10,000 monthly readers here to learn how to save and invest your money wisely.

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