Report: MoonPay Business Breakdown & Founding Story (2024)

FAQs

What is the MoonPay controversy? ›

In December 2022, MoonPay and Yuga Labs were sued in a class-action lawsuit alleging that Yuga Labs, Bored Apes, and MoonPay had "artificially inflated the price of [Yuga Labs'] digital offerings by using celebrity insiders, who promoted the NFTs without disclosing their financial relationships to the firm." MoonPay ...

Visit the Moonpay Support Help Center: {Dial the official contact numbers - ☎️+𝟏(321) 450-4757 USA & +𝟏(321) 450-4757 UK Open a web browser and navigate to the Moonpay Support Help Center.

Ivan Soto-Wright is co-founder & Chief Executive Officer of MoonPay.

Business Model

MoonPay makes money by taking a percentage of total transactions. The major transaction types are buying and selling crypto, and buying or selling NFTs. The company charges a 4.5% processing fee for buying or selling crypto via credit cards and a 1% fee for bank transfers (with a $3.99 minimum).

Is it safe to use MoonPay to buy and sell crypto? Keeping our customers safe is a top priority at MoonPay. We use strong security measures for your personal details and transactions and have satisfied over 30,000 TrustPilot customers and 250+ cryptocurrency services who trust our services.

MoonPay is a safe crypto payment solution. According to its website, all data is encrypted in transit using AES-256 block-level storage encryption. The company also has a bug bounty program that rewards people for discovering weaknesses in MoonPay's security to help them make improvements.

If your bank transfer for an order fails, we will return your funds to your account in a few working days. To get a refund, send a support request.

MoonPay USA LLC is licensed by the Nevada Department of Business and Industry as a money transmitter.

Since we provide cryptocurrency services, which include crypto-to-fiat and crypto-to-crypto transfers, we are registered with FinCEN as a Money Services Business. This shows our commitment to financial regulation, such as: Anti-money laundering (AML) and regulatory compliance. Performing KYB/KYC on customers.

You can sell crypto to MoonPay and cash out directly to your Visa card in the following countries: Andorra, United Arab Emirates, Argentina, Australia, Austria, Azerbaijan, Bulgaria, Bahrain, Bosnia and Herzegovina, Brasil, Switzerland, Chile, Costa Rica, Cyprus, Czech Republic, Germany, Denmark, Dominican Republic, ...

What is better than MoonPay? ›

The best alternatives to MoonPay are CoinFalcon, Flooz, and Cryptoradar. If these 3 options don't work for you, we've listed over 30 alternatives below.

With its rapidly growing user base, MoonPay has established itself as a reliable and popular choice among cryptocurrency enthusiasts. Its robust payments infrastructure and dedication to secure and seamless customer experience have been instrumental in its success as a top crypto payment service.

Zeeshan Feroz | MoonPay Chief Product & Strategy Officer.

MoonPay also charges dynamic network fees that depend on blockchain conditions. This is the same process other exchanges use, and during periods of congestion, network fees can get pretty high, especially for cryptos like Bitcoin and ETH. You see the network fees before executing a trade.

Disclosing your personal information to third parties

MoonPay will never sell or rent your personal information to third parties without your explicit consent. We will only share your personal information with the following types of third parties: Identity verification services to prevent fraud.

Usually, this happens because of payment or account issues. If your bank says, "Your transaction has been declined", contact your bank for help. The drop may happen if there are card details, verification, address, or suspicious activity issues.

MoonPay will never sell or rent your personal information to third parties without your explicit consent. We will only share your personal information with the following types of third parties: Identity verification services to prevent fraud.

At MoonPay, we are required to complete your identity verification to follow the Know Your Customer (KYC) laws. KYC is a multi-step verification process that confirms the identity of customers, which helps prevent the creation and use of fraudulent accounts.