While Cryptocurrencies have become a common sight in today’s world, this wasn’t always the case. Cryptocurrency didn’t gain mainstream acceptance until 2015. However, the security, anonymity, decentralization and speed of Crypto transactions made Cryptocurrencies an attractive option for gambling enthusiasts. Although these features contributed greatly to every player’s online gambling experience, obtaining Cryptocurrency at the time was still a hassle as purchasing it required technical expertise and deep knowledge of Blockchain technology.
However, over time, these issues were addressed as the cryptocurrency market matured. User-friendly platforms like MoonPay have been developed to simplify the process of purchasing cryptocurrencies while offering a wide range of payment options, enhanced security measures, and a more accessible user experience. Ready to find out how to purchase crypto via MoonPay so you can play your favourite Crypto Casino game titles? We’ve got you covered!
What is MoonPay?
Founded in 2019, MoonPay is a fintech company specializing in crypto transactions. The platform offers users from over 160 countries a seamless way to purchase more than 50 different cryptocurrencies using various fiat options such as credit cards and Apple Pay. However, unlike other marketplaces like Wyre and Transak, MoonPay currently only supports the storage of Ethereum, Celo, and some other digital currencies on the platform. To address this limitation, MoonPay has partnered with over 300 crypto wallets and marketplaces, ensuring that users can securely receive and manage all their assets without any complications.
Creating a MoonPay Account
While MoonPay does not primarily function as Crypto wallet, interested users are still required to create an account on the platform before making any transactions. However, courtesy of MoonPay’s recently launched app which is available on Android and iOS devices, the account creation process can be completed in a matter of minutes. Ready to set up your MoonPay account? Take a look at the following steps to get your account set up in no time.
- Visit the MoonPay Official website then click on “Get Started” at the top right corner of the screen
- Clicking “Get Started reveals the registration page where you will be prompted to provide your email address
- After entering your email address, click on Continue. A 6-digit verification code will be sent to your email address, which will be requested for on the next page.
- After providing the code, Agree to MoonPay’s terms and conditions by clicking the box, click on continue, and you will be logged in to your newly opened MoonPay account.
MoonPay KYC (Know Your Customer) Verification
After creating your account, players can log in, but it’s important to note that purchasing crypto assets is not immediately available. To gain full access to the platform’s services, completing a mandatory KYC verification is required. You can complete MoonPay’s KYC verification in 2 minutes with the following steps.
- Attempt to buy any Crypto asset of choice and you will be redirected to the KYC verification page
- Players will then be prompted to submit a valid means of identification like an international passport, driver’s license, or National ID Card
- After submitting the ID card, players will be required to complete a 3d liveness check with their Camera in a well-lit environment.
- After completing these verifications, players will receive an email notifying them of the success or failure of the verification process. Once verified, players can proceed to use their MoonPay account to complete their crypto purchases.
Purchasing Cryptocurrency Via MoonPay
Currently, MoonPay only supports storing Ethereum, Celo, and few other assets on the platform, requiring users to deliver all other assets to a third-party crypto wallet of their choice. However, certain Canadian crypto casinos such as Stake, BC.Game, and Bets.io offer a convenient alternative. They allow users to purchase cryptocurrency directly to their gambling accounts, eliminating the need for a third-party wallet.
Whether you prefer funding your crypto gambling account through crypto purchases made to a third-party crypto wallet or by directly depositing to your crypto gambling account, below you will find everything you need to know about making your first crypto purchase via MoonPay.
Purchasing Cryptocurrency via MoonPay to a Third-party Wallet Address
While there are numerous crypto wallets available for players to choose from, our team of experts reached out to MoonPay’s customer service center to inquire about provisions for transactions requiring a third-party wallet. Based on their recommendations, some of the wallets they suggested include Binance, ZenGo, and Trust Wallet. Continue reading to learn how to make your crypto purchases to these wallets.
- Head over to your MoonPay account and click on “Buy” at the top right corner of the homepage
- Select the asset you want to purchase on the page that comes up and enter the amount you would wish to purchase then click on continue
- Choose your preferred fiat payment option on the next page and click on continue
- On the next page, you will be prompted to provide your wallet address, which can be generated from your personal crypto wallet. It is crucial to ensure that the wallet address you provide is both correct and corresponds to the appropriate currency. For example, if you are purchasing Bitcoin, make sure to provide a Bitcoin wallet address.
- Confirm order details on the next page and click continue
- Complete payment with your preferred Fiat payment option and assets will be delivered to your wallet as soon as payment is confirmed.
Direct Crypto Deposits on Canadian Crypto Casinos with MoonPay Compatibility
As mentioned earlier, MoonPay has partnered with over 300 electronic wallets, exchanges, and marketplaces, including several Canadian Crypto Casinos. This partnership enables players to conveniently purchase crypto directly on the platform without the need to manually visit MoonPay.
Bets.io, one of Canada’s leading Crypto casinos, is among the casinos that offer this incredible feature. While the specific steps may vary depending on your chosen casino, there are similarities in the process. Below, we outline the general steps for making a direct crypto deposit at your preferred casino.
- Head over to your casino’s deposit page by clicking on the deposit icon on your screen
- Click on “Buy Crypto” on the pop-up page, select your preferred purchase, enter amount to purchase, and click on “Buy Via MoonPay”
- Clicking on ‘Buy Via MoonPay’ redirects players to the MoonPay platform, where they can validate their transactions using their preferred payment option. Alternatively, players can verify the transaction by receiving a code to the email address linked to their MoonPay account.
- Assets will arrive in your Crypto gambling account as soon as payment has been confirmed.
Pros and Cons of Purchasing Cryptocurrency Via MoonPay
While there are advantages to purchasing crypto via MoonPay, it is important to be aware of some significant drawbacks associated with this medium. What should you expect and watch out for while using this platform? Explore the key considerations below.
- Global accessibility
- Wide range of Cryptocurrency options to trade
- Impressive security measures
- Limited Crypto assets storage
- Dependency on third-party wallets
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Conclusion
With its wide range of payment options, global accessibility, and enhanced security measures, MoonPay simplifies the process of obtaining cryptocurrencies for every play. Although it is crucial to acknowledge the constraints of the platform, including the restricted storage choices for cryptocurrency assets and the need to depend on third-party wallets for the majority of cryptocurrencies, MoonPay’s strong security measures and accessibility make it a viable choice for users looking for a hassle-free way to enter the crypto market and enjoy crypto gambling.
