The online gambling industry is always keeping up with the trends. And since cryptocurrencies are a massive hit at the moment, operators do their best at including them more on their respective sites. Apart from standard ways to use cryptocurrency, they are starting to offer players payment solutions that would make their crypto transacting a pleasant and effortless process.
Since plenty of new payment methods appeared in recent years offering users the chance to transact with both fiat and digital currencies, online casinos are the first ones to offer them to the players. One solution that really stands out from the rest in a sense that makes the crypto transacting process extremely easy and user-friendly is MoonPay. This is a fiat-to-crypto provider that allows players to purchase crypto with fiat currencies on the spot; no need of visiting exchange platforms to complete the purchase. What is MoonPay and why use it across online casinos?
About MoonPay
Getting into crypto does not necessarily have to be an annoying and long process; not if you use MoonPay. This is a fiat-to-crypto provider that guides you through the entire process and makes the use of cryptocurrencies easier than it ever was. It was created by a Malta-based financial technology company which built a payments infrastructure for crypto and made the solution as effortless to use and get started with as possible.
Essentially, the company created a platform where users can use over 160 fiat currencies to purchase over 90 digital currencies, using some of the worldâs leading payment methods, such as Apple Pay, Google Pay, Samsung Pay, bank transfer and debit/credit cards. Using fiat currency and these payment methods, you can purchase your crypto in less than 30 minutes, and start using it for your online casino deposits right away.
How did the company manage to make all of this possible? Well, as you may as well know, Malta is a gambling hub and a country that has embraced crypto. It planned to lead the world in blockchain regulation and thatâs why in recent years, weâve seen blockchain and Bitcoin conferences heading to Malta, to help all online gambling attendees get a better understanding of how the technology behind crypto works and how beneficial it could be for the online gambling industry. As a Maltese company itself, Moon Pay Limited was more than equipped with the knowledge and permissions to create the solution that would change online banking as we knew it.
The minute the solution was launched, it received instant recognition from all parts of the world. More than 160 countries have welcomed it, and more than 250 applications, leading wallets and websites have already put their trust in it, online casinos included. Therefore, finding an online casino to join and use it would not be a difficult task at all. Find out how to get started with it.
Getting Started with It
As introduced, the company designed the solution with the aim to make it easier for users to get started with crypto, so you should not be surprised to learn that the solution is really user-friendly. As long as you follow the instructions on its official website, youâll see that the entire process would be really intuitive.
The first step is to buy your first cryptocurrency with it, and with that, your account will be automatically created. You would need to visit the buy.moonpay.com page or use one of the partnered wallet appsâ to make your first purchase. From here, do the following:
Select the crypto youâd like to purchase from the drop-down menu.
Enter the amount you wish to buy and select the fiat currency youâd like to use for the purchase.
Enter the wallet address. If using a partnered wallet, it will automatically send your correct address to MoonPay, so you might even skip this step.
You will receive a four-digit code on your email which you need to enter in the designated field to verify the address.
Accept the Terms of Use.
Verify your identity by entering your date of birth, residence address and full name.
Continue and upload your ID (residence permit, ID, passport, or driverâs license).
An order confirmation will arrive at your email address, as well as a link to MoonPayâs tracker, so you can keep an eye on your order. In less than 30 minutes, the crypto will arrive in your wallet.
Once the crypto arrives, your account will be ready. You can start using it across online casinos right away, without waiting for any further instructions.
How to Deposit at Online Casinos with MoonPay?
Since it is becoming more and more popular in the online gambling industry each month, this solution is getting accepted across many online casino sites. But one of the casinos that first started offering it was Bitcasino.io. In fact, this operator has detailed instructions laid out for you, so that you can get started with it and use it without much effort for your deposits and withdrawals. But you can join any of the casinos that accept MoonPay, and the steps would be pretty much the same.
You would need to use Apple Pay, a bank transfer or a credit/debit card in order to deposit digital currencies at your online casino via this solution. The process will go like this:
Log in to your online casino account and visit the Deposit page.
Find the option âPurchase crypto with MoonPayâ and click on it.
Specify the amount of crypto youâd like to purchase and deposit on your online casino account, and the exchange rate will appear.
Copy the address, found on the top right of the page, in the âSend your crypto deposit toâ section.
In the MoonPay frame, found on the left under the "Wallet Address" section, enter the address.
In less than 30 minutes, the crypto will be sent to the address.
Meanwhile, on your email, youâll receive a one-time code by MoonPay, so copy it and enter it in the âVerification codeâ section.
Enter the personal details necessary, upload a photo of you and any needed ID documents, and enter your payment method details.
Confirm your payment, and your transaction would be successful.
How to Withdraw Winnings with It?
Withdrawals work pretty much the same way. Only this time, the process will be in reverse. Keep in mind that although deposits are pretty quick, withdrawals will take some time.
Both MoonPay and your chosen casino must check whether everything is in order, and for security reasons, the withdrawal may take up to 48 hours.
Fees and Limits
You should know that fees and limits apply. When buying crypto with card payments, you'd need to pay a 4.5% processing and a dynamic network fee. When using bank transfers, a 1% processing fee and a dynamic network fee would apply. When selling crypto, with an EU/UK bank transfer, you would need to pay a 1% processing and a dynamic network fee. The network fee is dynamic on all BTC, ERC20 and ETH tokens because it is based on the blockchain network conditions.
You can sell crypto only if youâre a Bitcoin Cash or Bitcoin coin holder. The minimum transaction limit that applies here is 0.08 BCH and 0.001 BTC. You won't be able to sell more than âŹ2,000 daily and âŹ10,000 monthly worth of cryptocurrency.
The maximum purchase limits depend on whether you're a US or a non-US citizen and depend on your tier. The tiers, on the other hand, depend on the documents you provided when you created your account. US users start at tier 2, with daily limits of âŹ5,000 and monthly of âŹ20,000 for tier 2 and âŹ50,000 for tier 3. For non-US users, the monthly limits are âŹ150 for tier 1, âŹ20,000 for tier 2 and âŹ50,000 for tier 3. The daily limits are âŹ50, âŹ5,000 and âŹ50,000 for tier 1, tier 2 and tier 3, respectively.
Restricted and Allowed Countries
As introduced, MoonPay is available in 160 countries across the globe, however, some countries are restricted.
Some of the restricted countries or territories include American Samoa, New York, Guam, Hawaii, Northern Mariana Islands, Rhode Island, China, Venezuela, Ecuador, Iceland, and US Virgin Islands, but the list contains 25 more countries, states and territories where its services are not offered.
Supported Currencies
The list of supported currencies is huge. Basically, all the currencies of the 160 allowed countries are supported.
As far as cryptocurrencies go, 90 of them are available! Not all of them are available to US citizens, however, other users can purchase all of them, including the most popular ones Bitcoin, Bitcoin Cash, Dash, Dogecoin, EOS, Ethereum, Litecoin, Tether, XRP and TRON.
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Where can I use this solution to purchase and transact with crypto?
As mentioned, over 250 applications, exchanges, wallets and websites are available. Among them we can mention, Bitcoin Wallet, Binance DEX, ZenGo, Bithumb, Trust Wallet, Bequant, Changelly, Bitcoin.com and Bitcoin.org.
Which bank accounts are supported?
Even though Moon Pay Limited works on adding more banks and sell features to users in other regions, for now, it currently supports UK bank accounts that can receive GBP payments and euro bank accounts that can receive SEPA payments.
How to know that my personal and banking details are safe with this solution?
You can rest assured that all your personal and banking details would be safe with it because this solution implements the highest security measures for data collection, storage and processing, as well as measures for preventing unauthorized access, alteration, destruction or disclosure of your details and stored data.
Can I increase the purchase limits in any way?
Yes. You would need to place the purchase order, and wait for a response. The solution may prompt you to provide more documents in this case and move you up the tiers, to allow you to complete the transaction.
In case I need help or have a problem, does the solution offer a Customer Support team that I can contact?
Sure! The company encourages users to visit the Support Centre and submit a message. The Customer Support team works around the clock, but give them up to 24 hours for them to get to the best solution to your problem. Refrain from making multiple requests, because the team works chronologically from oldest to newest requests, so avoid getting your message getting way behind.
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The online gambling industry is always keeping up with the trends. And since cryptocurrencies are a massive hit at the moment, operators do their best at including them more on their respective sites. Apart from standard ways to use cryptocurrency, they are starting to offer players payment solutions that would make their crypto transacting a pleasant and effortless process.
As introduced, the company designed the solution with the aim to make it easier for users to get started with crypto, so you should not be surprised to learn that the solution is really user-friendly. As long as you follow the instructions on its official website, youâll see that the entire process would be really intuitive.
Since it is becoming more and more popular in the online gambling industry each month, this solution is getting accepted across many online casino sites. But one of the casinos that first started offering it was Bitcasino.io. In fact, this operator has detailed instructions laid out for you, so that you can get started with it and use it without much effort for your deposits and withdrawals. But you can join any of the casinos that accept MoonPay, and the steps would be pretty much the same.
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