In this article, we will review Moonpay. Moonpay has quickly grown to become one of the most-used fiat gateways. Moonpay aims to be better than alternatives by supporting as many locations, cryptocurrencies and payment methods as possible.
But is Moonpay the best fiat gateway, and what are Moonpay alternatives? We’ll find out in this Moonpay review, and see how Moonpay stacks up vs Sendwyre vs Banxa vs Simplex and vs Mercuryo.
Moonpay Review and Alternatives
In this Moonpay review, we will now look at Moonpay’s supported payment methods, supported cryptocurrencies, and supported fiat currencies. We’ll also review Moonpay’s fees and look at available alternatives.
Review of Moonpay’s supported cryptocurrencies, fiat currencies and payment methods
Moonpay’s main focus is to support as many geographies, cryptocurrencies and fiat currencies as possible. The goal is to become the one-stop-shop for all fiat to crypto transactions within a single widget, not unlike fiat gateway aggregators aim to do.
Moonpay supports transactions using the following payment methods: credit cards and wyre transactions.
Moonpay: review of fees
Moonpay alternatives and competitors
Moonpay vs Sendwyre, Simplex, Banxa and others
Onramper allows for integrating of Wyre, Moonpay, Coinify, Mercuryo, Indacoin, Xanpool in one.
Lowest of fees offered by Wyre, Moonpay, Mercuryo, Xanpool, Indacoin, Coinify
BTC, ETH, USDT
EU wire transfers: 0%
* Moonpay is also integrated within Onramper
Yes (for EU, U.S. Canada only)
$10 minimum, or up to 5%
The best way to compare fees
Because every fiat gateway calculates fees differently, the only good way to compare fees is by seeing how much cryptocurrency a users actually gets.
Moonpay Review Verdict:
Moonpay is a good fiat gateway, especially for multi-currency wallets and exchanges. Moonpay’s widget supports many countries, fiat currencies and cryptocurrencies. However, Moonpay’s fees for users are quite high and a $1000 integration fee applies. Also, users have to upload identity documents for any transaction, which scare many people away.
Note: Moonpay is also integrated within Onramper, a fiat onramp widget that integrates multiple gateways in once. Because Wyre is also integrated in Onramper, Moonpay’s weaknesses (a.k.a. high fees, difficult KYC) are solved. By integrating Onramper businesses are also not required to pay Moonpay’s integration fee/deposit.