MoonPay has announced a partnership with Phantom, a leading non-custodial cryptocurrency wallet, to integrate its MoonPay Balance feature. This collaboration enables users to purchase cryptocurrencies directly through their MoonPay Balance accounts without charging any transaction fees. The service is currently available in the United States, United Kingdom, and European Union.
Key Benefits of the Balance Integration
The integration offers several advantages to users:
Zero Transaction Fees: Users can buy or sell cryptocurrencies without any additional fees.
High Success Rates: The platform assures a 99% transaction success rate, minimizing the chances of failed transactions.
Faster Transactions: Utilizing Balance allows for quicker processing times, enhancing the overall user experience.
How MoonPay Balance Works
To utilize the balance, user can top up their accounts using payment methods such as Venmo, PayPal, or ACH bank transfers. Oncer the balance is funded, it can be used to purchase a variety of cryptocurrencies instantly. This approach eliminates the need to enter bank details for each transactions, streamlining the buying process.
Expansion on MoonPay Balance
Initially launched in the UK and EU, but the balance has been now expanded to the U.S. market. The feature supports various payment methods, including SEPA, Faster Payments, and Open Banking, with plans to introduce additional options like ACH in the future. This expansion aims to provide a seamless and fee-free cryptocurrency purchasing experience to a broader user base.
Security and User Control
The exchange emphasizes user control and security by partnering with non-custodial wallet providers like Phantom. This ensures that users maintain complete ownership of their crypto assets, reducing risks associated with centralized platforms. The platform also employs robust security measures, including AES-256 encryption and compliance with PCI-DSS and ISO 27001 standards.
Also Read: OpenSea to Launch $SEA Token for Loyal Platform Users
