If you’re looking to buy and sell crypto coins and other digital assets using fiat currency, then MoonPay is your go-to as it is a cryptocurrency technology company that allows its users to trade crypto coins using fiat currency. Due to the platform’s highly minimalistic and intuitive user interface, buying and selling cryptocurrency is as easy as buying any other product from an online e-commerce store which makes users doubt if the platform is legit. This leads us to discuss how safe and legit is MoonPay for users to buy and sell crypto coins on the platform.
MoonPay is very safe and legit. All user data on MoonPay is encrypted with AES-256 block-level encryption method and stored in data centers that follow the regulatory rules of PCI DSS and ISO27001. MoonPay has about 43,000 reviews with 75% of the reviews rated 5 stars thus making the platform legit.
Now that you’ve chosen to want to trade your crypto coin on MoonPay for fiat currency, it’s imperative to know the security level of the trading platform and how safe and legit it is hence why I’ll be sharing these details with you in this article.
Is MoonPay Legit?
According to one of the leading review websites for any service/product in the world, TrustPilot, MoonPay has above 43,000 reviews. Out of these 43,000 reviews, 75% of them are rated excellent by users which means that users see the platform as a legit platform to buy and sell crypto coins using fiat currency. In addition, 86% of these reviews rated MoonPay as great and above average.
Users of the platform have praised the platform and reviewed it as an excellent platform for trading so you can go ahead to make trades on the platform without worrying about the platform not being legit.
You can use MoonPay in over 150 countries in the world and now with the growth of the crypto-verse, many businesses have begun integrating MoonPay as a payment method to accept cryptocurrency from customers who will rather make their payments using cryptocurrency. One of the most popular wallets in the world also supports, Trust Wallet also supports MoonPay as a platform for buying and selling cryptocurrency.
With the above information, it is deducible that MoonPay is a legit platform for buying and selling cryptocurrencies so you need not fret about the platform being illegal.
Is MoonPay Safe?
MoonPay prioritizes its security as the platform developers understand that there are a lot of scammers waiting to grab user data and information from loose databases hence why all the data on MoonPay is encrypted using AES-256 block-level encryption method and is stored in data centers that are compliant with PCI DSS and ISO27001. With this encryption, there’s no way data phishers can phish user data from MoonPay’s database hence making the platform very safe and secure.
MoonPay has taken industry=standards measures to ensure its platform’s security and privacy. All the user data received from and sent to MoonPay infrastructure is encrypted using TLS 1.2 and is protected using an HSTS policy. The HSTS policy protects the platform against attacks from cyber attackers who may try to downgrade the infrastructure to access the data.
With all of these encryptions and security policies, you can be rest assured about the platform’s safety and security as the platform’s developers have this covered by implementing the best security measures as discussed above. If you’ll like to review more information about the safety of the platform, you can access the SSL lab report as it is available on MoonPay’s official website for viewing.
Is MoonPay Safe On Trust Wallet?
Trust Wallet is one of the most popular and secure wallets in the crypto-verse as it supports a variety of chain networks like Ethereum, Binance smart chain, etc. that allows users to trade and access coins hosted on these different chains. With Trust Wallet’s reputation, it is certain that using MoonPay with Trust Wallet is safe because both platforms boast of immense security that secures user data and data transferred between the user, Trust Wallet, and MoonPay.
So if you have any crypto coins in your trust wallet, you can sell them via MoonPay by just connecting your Trust Wallet to MoonPay and performing your transaction. If you’re new to using trust wallet, it’s important that you keep your private keys safe as these are the details you’ll need to access your wallet on different devices so if scammers get a hold of your private keys due to your carelessness, you may lose the crypto coins in your wallet.
Since MoonPay provides utmost security for its platform, it won’t be easy for scammers to access your user data. This is why Trust Wallet also supports MoonPayfor buying and selling cryptocurrency through the app.
Is MoonPay Safe To Buy Crypto?
With the platform’s infrastructure being encrypted with TLS 1.2, it’s safe to perform transactions like buying crypto on MoonPay. You just have to make sure that when transferring your crypto from MoonPay to your wallet, your receive address is the correct one else you may lose your crypto if it’s sent to the wrong wallet address. If you’ve followed this measure, then you’re sure to make safe transactions on MoonPay without the fear of losing your crypto or your coin being taken away from you in the process of purchasing it.
Buying crypto via the platform is very easy. All you need to do is to select the amount of crypto you want to buy in exchange for your fiat currency. After this process, you’ll now go on to choose the wallet to which you want the crypto to be transferred.
Make sure to use the correct recipient address so you won’t transfer your coin to another wallet. Following this, you’ll need to choose the payment method you want to use to complete your payment for the coin. The coin will appear in your wallet within a few minutes depending on the traffic on the blockchain network at the time you’re making the purchase.
How Secure Is MoonPay?
MoonPay boasts of its security as the platform has integrated industry-standard measures to ensure the platform’s security and privacy remain intact. To keep its infrastructure secure, the platform has integrated TLS 1.2 with the platform, as this tool ensures that all data received on the platform is secured. The platform is also highly protected against attacks via the HSTS policy.
There has been no report of scams since the company’s launch in 2018 and the platform is trusted in almost all the countries in the world with many businesses integrating the platform as a payment checkout option. Moreso, every user on the platform must complete a strict KYC method that ensures no user is a bot or fake. This process helps to separate spammers from real users and once the platform’s algorithm detects a bot, the account is immediately blocked.
In addition, there have been no reported cases of MoonPay fraud to the present. All information about the platform has been kept transparent and they are displayed on the platform’s website for anybody to access. MoonPay never requires you to share your private information like your password with the platform.
Where Is MoonPay Located?
Although MoonPay was founded in London in 2018, its headquarters currently resides in Greater Miami Area, East Coast, Southern United States.