MoonPay, a cryptocurrency technology company that allows its users to trade crypto coins using fiat currency, is your go-to if you want to buy and sell crypto coins and other digital assets using fiat currency. Buying and selling cryptocurrency is as easy as buying any other commodity from an online e-commerce store thanks to the site’s incredibly basic and straightforward user design, which makes customers wonder if the platform is legitimate. As a result, we’ll talk about how safe and secure MoonPay is for users buying and selling crypto coins on the site.
MoonPay is completely secure and legitimate. MoonPay encrypts all user data using the AES-256 block-level encryption mechanism and stores it in data centers that comply with PCI DSS and ISO27001. MoonPay has around 43,000 reviews, with 75% of them being 5 stars, indicating that the site is legitimate.
Now that you’ve decided to exchange your crypto coin for fiat cash on MoonPay, it’s critical to understand the trading platform’s security level and how safe and legitimate it is, which is why I’ll be discussing these data with you in this article.
Is MoonPay Legit?
MoonPay has almost 43,000 reviews on TrustPilot, one of the most popular review websites for any business or product in the world. Users rank 75% of the 43,000 reviews as outstanding, indicating that customers regard the platform as a legitimate way to purchase and trade crypto currencies using fiat currency. Furthermore, 86% of these reviews evaluated MoonPay as excellent or above.
Users of the platform have praised and reviewed it as an great trading platform, so you can trade without fear of the platform being a scam.
MoonPay is available in over 150 countries, and with the rise of cryptocurrency, many businesses have begun to integrate MoonPay as a payment option to accept bitcoin from customers who prefer to pay with cryptocurrency. Trust Wallet, one of the most popular wallets in the world, also supports MoonPay as a cryptocurrency buying and selling platform.
Considering the aforementioned information, it is clear that MoonPay is a legitimate site for buying and selling cryptocurrencies, and you should not be concerned.
Is MoonPay Safe?
MoonPay places a high priority on security because the platform’s creators recognize that scammers are ready to steal user data and information from open databases. As a result, all data on MoonPay is secured using AES-256 block-level encryption and stored in data centers that comply with PCI DSS and ISO27001. With this encryption, data phishers will be unable to steal user data from MoonPays’ database, making the site extremely safe and secure.
MoonPay has implemented industry-standard security and privacy protections on its platforms. All user data sent to and received from MoonPay infrastructure is encrypted with TLS 1.2 and protected by an HSTS policy. The HSTS policy safeguards the platform from cyber attackers who may try to access the data by downgrading the infrastructure.
With all of these encryptions and security standards in place, you can rest certain that the platforms are safe and secure, as the platform developers have taken the strongest security steps available, as stated above. If you’d want to learn more about the platform’s security, you may look at the SSL lab report, which is available on MoonPay’s official website.
Is MoonPay Safe On Trust Wallet?
Trust Wallet is one of the most popular and safe wallets in the crypto-verse since it supports a number of chain networks, including as Ethereum, Binance smart chain, and others, allowing users to trade and access coins housed on these chains. With Trust Wallet’s track record, it’s safe to say that utilizing MoonPay with Trust Wallet is risk-free, since both platforms offer top-notch security for user data and data sent between the user, Trust Wallet, and MoonPay.
If you have any crypto currencies in your trust wallet, you can sell them using MoonPay by simply linking your Trust Wallet to MoonPay and completing the transaction. If you’re new to trust wallet, it’s critical to keep your private keys safe because these are the data you’ll need to access your wallet on different devices. If scammers get their hands on your private keys as a result of your carelessness, you could lose the crypto coins in your wallet.
MoonPay’s platform is extremely secure, making it difficult for scammers to gain access to your personal information. This is why Trust Wallet accepts MoonPay for cryptocurrency purchases and sales through the app.
Is MoonPay Safe To Buy Crypto?
Transactions like buying crypto on MoonPay are safe because the platform’s infrastructure is encrypted with TLS 1.2. You just must ensure that your receive address is valid when transferring your cryptocurrency from MoonPay to your wallet; otherwise, your cryptocurrency may be lost if it is delivered to the incorrect wallet address. If you take these precautions, you may make secure transactions on MoonPay without worry of losing your cryptocurrency or having it taken away from you during the purchase process.
Purchasing cryptocurrency through the platform is simple. All you have to do now is choose how much cryptocurrency you wish to swap for your fiat currency. Following this, select the wallet to which you want the cryptocurrency to be transferred.
Use the correct recipient address to prevent your coin from being transferred to another wallet. After that, you’ll need to decide which payment method you want to utilize to finish your coin payment. Depending on the amount of activity on the blockchain network at the moment of purchase, the coin will arrive in your wallet within a few minutes.
How Secure Is MoonPay?
MoonPay prides itself on its security, with industry-standard procedures in place to ensure the platform’s security and privacy. TLS 1.2 has been integrated with the platform to keep its infrastructure secure, as this tool ensures that all data received on the platform is encrypted. The HSTS policy also helps to defend the platform from attackers.
Since the company’s introduction in 2018, there have been no reports of scams, and the platform is trusted in almost every country, with many businesses adopting the platform as a payment checkout option. Furthermore, every user on the network must go through a rigorous KYC process to verify that no one is a bot or a fake. This technique helps to distinguish spammers from legitimate users, and if the platform’s system finds a bot, the account is blocked instantly.
Also, no examples of MoonPay fraud have been documented as of yet. Every information concerning the platform has been kept public and is available to anyone on the platform’s website. MoonPay never needs you to provide personal information with the site, such as your password.
Where Is MoonPay Located?
MoonPay’s headquarters are currently located in the Greater Miami Region, East Coast, Southern United States, despite the fact that the company was started in London in 2018.