Is MoonPay Safe and Legit?

Is MoonPay Safe

MoonPay is a cryptocurrency technology company that allows users to buy and sell crypto coins and other digital assets using fiat currency. The platform is highly minimalistic and intuitive.

Buying and selling cryptocurrency through MoonPay is as easy as buying any other product from an online ecommerce store. MoonPay is quickly gaining a lot of customers from around the world, and at the time of writing, it is available in more than 150 countries.

To be able to use MoonPay, you will need to have a supported wallet to which your purchased cryptocurrency will go to or the cryptocurrency you are selling will be taken from. 

MoonPay accepts all common and major credit / debit cards, bank transfer and digital payment methods such as Google Pay, Apple Pay and Samsung Pay. More than 250 applications, wallets and websites have integrated MoonPay and trust it due to its highly secure feature.                                 

Is MoonPay Safe?

Yes, MoonPay is Safe. All the data in MoonPay is encrypted using AES-256 block level encryption method and is stored in data centres that are compliant with PCI DSS and ISO27001.

According to the MoonPay official website, security and privacy is their main priority and they have taken industry-standards measures to ensure it. All the data received from and sent to MoonPay infrastructure is encrypted using TLS 1.2 and is protected against attacks (downgrade) using a HSTS policy. The SSL Lab report is available on their official website for viewing. 

Is MoonPay Legit?

Yes MoonPay is Legit. According to TrustPilot, one of the leading review websites in the world for any service/product, MoonPay has more than 43,000 reviews out of which 75% have rated excellent. In fact, 86% of them have rated MoonPay as Great and above. Customers have praised the ease of usage of the platform and customer support it provides.

MoonPay is available in more than 150 countries and many popular businesses that have started to accept cryptocurrency have integrated MoonPay in their payment methods. Even Trust Wallet, one of the most popular wallets in the world supports MoonPay for buying and selling cryptocurrency through the app. 

Is MoonPay a Scam?

No, MoonPay is not a scam. The company was founded in London in 2018, and there have been no major controversies till date. The platform is trusted in almost all the countries around the world, and many businesses have integrated MoonPay in their payment checkout option.

Moreover, every customer on the platform must complete a strict but justified KYC method, and this ensures no user is a bot or fake too. Unless the user completes the KYC, the features available to them on MoonPay are extremely limited. 

MoonPay Fraud 

There have been no reported cases of MoonPay fraud till date. The platform has kept their information transparent and all of them are available on the website.

In fact, if you are from the police or the bank, you can ask specific information from MoonPay by sending an enquiry on their customer support form under ‘law enforcement requests’.

MoonPay never asks for your private information such as passwords, and all communication from the platform happens through legitimate email addresses. 

Can I Trust MoonPay?

Yes, You can Trust MoonPay. MoonPay is legal to use in more than 150 countries and if the platform had been a fraud, it would have been banned in many of them. They have the best security measures for data collection, processing and storage. 

Is MoonPay Safe to Buy Bitcoin?

Yes, MoonPay is safe to buy Bitcoin. None of your financial transactions are stored on the platform, and the information is encrypted using the industry-level AES-256 method. 

Buying Bitcoin through the platform is easy. Just select the amount of Bitcoin you want to buy in exchange for fiat currency. Then, choose the wallet to which the Bitcoin should be transferred.

Following this, choose the payment method to complete the payment. The Bitcoin must appear in the wallet within a few minutes depending on the network traffic at the time of purchase. 

Can I Get Money Back from MoonPay?

Unfortunately, no. All cryptocurrency transactions are irreversible and once the payment is completed, you cannot get your money back.

However, if your payment is stuck or you have not yet received the cryptocurrency after the money being cut, you can contact their customer support to identify and troubleshoot the issue. 

How Long Does it Take MoonPay to Reverse the Money?

Money reversal happens only in the case of failed transactions. If you have paid through a card, the money reversal might take up to 10 working days. If it has been taking longer than that, contact the bank. 

If you had paid via bank transfer and it failed, MoonPay will refund you the money within a few working days. If you have still not received the money, you can ask for the refund status by sending a support enquiry, here – https://support.MoonPay.com/hc/en-gb/requests/new?ticket_form_id=360000238478

In the form, choose Transactions – I was charged for a declined/failed transaction. 

Conclusion 

Overall, MoonPay is absolutely safe and legit. They have top security features to protect your information and personal profile. The customer support is strong and highly responsive, therefore, go ahead and use MoonPay without any doubt.

However, please be aware of the risks of buying and selling cryptocurrencies and do your research before investing money onto it.