MoonPay Review: High Fees, Strict Verification for Easy Crypto On-Ramp
MoonPay is a fiat-to-crypto on-ramp that offers a polished checkout experience for buying and selling cryptocurrencies. It supports a range of assets, including Bitcoin, Ethereum, Litecoin, Solana, and Polygon, as well as various fiat currencies like the US dollar, euro, and British pound.
The service's pricing can include a service fee on top of the quoted rate, plus additional charges tied to your payment method. You may also see blockchain network fees when a transaction is delivered on-chain, and your total can vary based on the route used and the size of the transaction.
MoonPay requires strict identity checks for verification, which can be time-consuming and may involve submitting personal information such as your legal name, address, and Social Security number. However, sensitive data is protected through measures like encryption and restricted access.