Guide to remove Credit Card from MoonPay

Reading Time: 8 minutes

Looking for ways to remove Credit Card from MoonPay? Look no more, just go through this guide to find out all of your answers. But first, for the newbies here, let’s learn a bit about MoonPay, and the various benefits that it offers.

Everything that you need to know about MoonPay

Investing in cryptocurrency is now more accessible than at any other time in history. For instance, cryptocurrency exchanges such as Coinbase enable you to purchase over one hundred cryptocurrencies and stable coins using monies directly withdrawn from your bank account. On the other hand, a number of the most prominent exchanges need a few days for the identity verification process. In addition, you could discover that the daily purchase limits take a long time to climb, which can be frustrating if you’re attempting to buy a downturn in the market while it’s occurring.

However, if you use MoonPay, you will have a far more brisk and convenient method to purchase and sell cryptocurrency. MoonPay could be the right option for you if you’re looking for a straightforward method of conducting financial transactions and a speedy way to join in on the fun.

MoonPay is a firm that specializes in providing solutions for bitcoin payments and was established in 2018. Ivan Soto-Wright and Victor Faramond are credited as being the primary founders of the business, which is headquartered in Miami, Florida at the present time. It is now accessible in over 160 countries and has more than 5 million clients, despite the fact that the firm is still relatively new. Since the company was established, MoonPay’s technology has reportedly been responsible for the delivery of cryptocurrency assets valued at over $2 billion, as stated on the company’s website.

MoonPay is accessible to investors based in the United States in all states with the exception of Hawaii, New York, Louisiana, Rhode Island, and Texas.

Now that you know about MoonPay, it’s time to discuss our primary objective.

How to remove Credit Card from MoonPay account?

You have quick and easy access to all of your cards in a centralized location. To remove a credit card from your MoonPay account, follow the steps below:

• Go to buy.moonpay.com and enter the menu screen by clicking on the hamburger symbol located in the upper right corner of the widget.
• From there, you will be able to remove the credit card from your MoonPay account.
• Then, from the list of available menu options, choose “Settings”.
• Choose ” Payment methods ” when you get to the next screen.
• You will have the opportunity to delete a card at this point, and you will be presented with an instant confirmation notice, at which point the card will be removed when you click the confirm button.
• Your removal of the card will result in the termination of any recurring purchases that were made using that card.

If you have any outstanding transactions that have not yet been completely processed, you won’t be able to remove a credit card from your MoonPay account until those transactions have been completed. In this particular scenario, you won’t be able to take a card out of the reader until after these transactions have either been completed or canceled. Please don’t hesitate to get in touch with our Customer Support staff if you have any questions or concerns about the transactions you’ve completed.

Now, let’s learn further about MoonPay.

Relevant Read: Remove credit card from TradingView

What are the benefits MoonPay offers?

MoonPay’s objective is to simplify the process of investing in cryptocurrencies for users from all over the world, irrespective of the currency they are working with or the country in which they reside. In addition to that, it intends to assist companies in enabling bitcoin payments on their own websites.

In this regard, MoonPay is like a payment processor such as PayPal, except that it deals only with cryptocurrency transactions. MoonPay has a number of different options that you may take advantage of, all with the intention of helping it achieve its aim.

• Purchase Cryptocurrencies in a Flash

The ability to acquire and sell cryptocurrencies in a whirlwind is the primary advantage of using MoonPay. In point of fact, this is the sole function that is available on the side of the platform that interacts directly with customers.

When you first go to MoonPay’s website, you will need to choose the “purchase crypto” option in order to begin using the service. At the moment, MoonPay is compatible with more than 80 different virtual currencies, including the following:

1. USDT
2. Bitcoin
3. Uniswap
4. Cardano
5. Solana
6. Compound
7. Shiba Inu
8. Cosmos
9. Dogecoin
10. Polkadot
11. Ethereum

MoonPay supports a variety of tokens for use in metaverse games such as The Sandbox and Decentraland, in addition to other cryptocurrencies that you may or may not be familiar with. Customers of cryptocurrencies now have access to a wide variety of trading options.

• Simple transaction

In addition, carrying out transactions is a straightforward process. You will be prompted to choose the cryptocurrency you want to purchase, the amount of cryptocurrency you wish to acquire, and the currency in which you wish to purchase it. MoonPay’s compatibility with dozens of different currencies makes it an attractive option for foreign investors because of the flexibility it affords them.

The platform shows you how much cryptocurrency you are buying and automatically updates the price quotations for more volatile currencies every ten seconds. After you have entered your wallet address for the appropriate currency, you will then be able to proceed with the checkout process.

• Easy Verification

Before you can finish making a transaction with MoonPay for the first time, you will need to verify your identity by completing a “know your customer” (KYC) form. Confirming your phone number, name, and address, as well as uploading a government-issued identification document like a passport or driver’s license, are all required steps here.

MoonPay claims that the majority of verifications will be finished for you automatically if you supply clear photographs. If this is not the case, the verification process might take anything from a few minutes to several days. MoonPay is a quick and easy method that makes it possible to acquire hundreds of various cryptocurrencies. This is due to the immediate verification that is provided for many accounts as well as the simple buying procedure.

• Multiple Options Available for Payment:

MoonPay provides a number of payment ways for consumers located in other countries, including the following:

1. Cards, both credit and debit
2. Apple Pay
3. Google Pay
4. SEPA and SEPA Instant are used for financial transactions denominated in euros
5. Users in the UK may make advantage of UK Faster Payments

One of MoonPay’s limitations is that it does not support the trading of cryptocurrencies. In other words, you are unable to trade Bitcoins that you already own for Dogecoins. If you are interested in trading, the best options are cryptocurrency exchanges such as Coinbase and Gemini.

MoonPay, on the other hand, is a relatively hassle-free option for swiftly purchasing cryptocurrency with cash.

Selling cryptocurrency on MoonPay

MoonPay enables customers in the European Union, the United Kingdom, and the United States to convert their cryptocurrency holdings into fiat currency. At the moment, the following are some examples of cryptocurrencies that you can exchange for cash:

• The digital currency known as Bitcoin
• Bitcoin Cash (BCH)
• Ethereum
• Tether
• USD Coins

MoonPay has announced that it would be adding more cryptocurrencies to its list of those that may be sold. MoonPay, just like when you purchase cryptocurrency, will provide you with a quotation that is an estimate of the amount of cash you will get in exchange for the cryptocurrency you are selling.

There is a payment processing charge of 1% on the total amount paid, with a minimum of $3.99 in United States Dollars, British Pounds, Euros, or currency equivalent. Within one to four business days, the money will come into the bank account you provide. You will get your cryptocurrency back if MoonPay is unable to execute your sale for whatever reason. Take into consideration that the amount of cryptocurrency you actually sell may change depending on the fees charged by the network. And according to MoonPay, if it gets a quantity of cryptocurrency that is much lower than the minimum sell amount, it “may not be able to execute your transaction, and your cryptocurrency might go away.”

Because of this, you should steer clear of selling cryptocurrencies if you’re on the verge of reaching the minimum sell amount, particularly if transaction costs, such as those associated with ETH gas, are high at the moment.

A System for Setting Account Limits by MoonPay:

When you use MoonPay, one of the benefits you get is the ability to swiftly raise the amount of bitcoin you can purchase up to your account’s maximum. Your level of verification dictates the purchasing limits that apply to you. Your previous purchase history, as well as your location and the method of payment you choose, all, play a role in determining how much you can buy.

There are five different levels of verification that you can do if you want to. You can obtain up to €334 worth of spending power in the currency of your choice after submitting your identification and completing a video or selfie check. This bonus is good for a rolling term of 30 days. By providing details about your place of work and validating your income by submitting a bank statement, you can increase your spending limit to more than €1,000.

Even still, MoonPay’s Know Your Customer procedures might seem very intrusive at times. You can even verify your address in order to unlock a bigger spending limit. This is just one example.

MoonPay, on the other hand, provides you with a greater beginning buy limit than Coinbase does, which can cap your first purchase amount at about $300 USD for the first month. It will request you to complete extra verification steps in order to finalize your purchase if you attempt to buy more cryptocurrency than your current limit allows for at that time. MoonPay is a potential option that might be worth investigating for consumers who are presently dealing with exchanges that have annoyingly low purchasing limitations.

Pricing and Fees for MoonPay:

MoonPay levies various fees for each of the following payment methods, depending on the option you choose to use:

• Card Payments are subject to a 4.5% processing fee with a minimum purchase amount of $3.99, €3.99, £3.99, or the equivalent in another currency.
• Bank Transfers: 1% fee with a minimum of $3.99, €3.99, or £3.99 (or the equivalent amount in another currency).

In addition, MoonPay implements dynamic network fees, the amount of which is dependent on the state of the blockchain. This is the same mechanism that is in usage by other exchanges, and during times of congestion, network fees may grow very expensive, particularly for cryptocurrencies such as Bitcoin and Ethereum.

Before you actually execute a deal, you will have the network costs. Overall, MoonPay is more costly than other exchanges such as Binance, which has a Maker/Taker fee of 0.10%, so you will definitely be paying extra for the convenience of using MoonPay.

MoonPay Customer Service:

There are a few different channels available for communicating with MoonPay’s support staff. The first option is to contact support at www.moonpay.com email address, which is support@moonpay.com. You may also utilize a chatbot tool to discover articles that will assist you with your issue, or you can use it to send a message to MoonPay’s customer care staff.

Safety and security:

MoonPay claims that all of its customers have AES-256 block-level storage encryption. In general, MoonPay is reliable and risk-free, and it serves as a technological partner for a number of the most prominent cryptocurrency exchanges and non-fiat currency markets, including Binance and OpenSea.

However, MoonPay is not completely impregnable. For instance, in the year 2020, a cryptocurrency project namely Iota that supports the Internet of Things fell victim to a cyberattack that was due to a flaw in the technology in usage by MoonPay. As a crypto investor, it is essential to exercise proper control over your personal privacy and safety. Before you even consider buying cryptocurrency, you should verify and recheck the addresses of all of your wallets to ensure that you are sending the currency to the correct location. Get in contact with MoonPay’s support staff as soon as you can if you have problems with payments or if you believe that someone may have gained unauthorized access to your MoonPay account.

Conclusion: So, that was everything that you need to know about MoonPay, its benefits, features, and how to remove Credit Card from MoonPay. We hope that you will like our guide and find it beneficial.