Moonpay is a financial service dealing with cryptocurrency. Here, you can buy or sell cryptocurrency using fiat money like debit cards, credit cards, and other payment methods.

The company claims to support more than 125 currencies and is trusted by more than 250 wallets. To use Moonpay’s services, you must create an account and are good to go.

But is Moonpay safe to use? Many people on social media and other online forums have asked the same question. The public opinion is divided on the matter. Some claim that the website is a fraud and a scam, while others favour Moonpay.

In this article, we’ll dwell more deeply on the subject so that all your questions are answered.

Safety Assessment of Moonpay

Let us first scan the website for hidden malware and other harmful programs that might harm your computer.

Virustotal

When we scanned the website on Virustotal, we found no malware or other harmful bugs. All the security vendors flagged the website as green and good to go.

For further peace of mind, we decided to scan the website on another domain intelligence service.

threatYeti

ThreatYeti by alphaMountain agrees with the assessment of Virustotal. The platform gives a low-risk rating to Moonpay.

With two website scanners, we found no evidence that MoonPay was malicious. Next, we head to a few websites like Trustpilot and see what consumers say about the financial service.

Trustpilot

When we headed to Trustpilot and searched Moonpay, the customers were more or less happy with the service.

Moonpay scored 4.2/5 based on more than 80,000 reviews. Out of these, most users were satisfied with the service and gave a 5-star rating. The consumers praised easy and speedy transactions.

On the other hand, the customers who gave a 1-star rating complained about their transactions being stuck and similar problems. We also saw that Moonpay customer support didn’t help the customer here. Usually, companies reply to the customers on Trustpilot, but Moonpay didn’t.

Internal security structure of Moonpay

According to Moonpay, they don’t have access to the customer’s wallet, and most transactions are completed without needing a wallet. Moonpay promises robust security with Transport Layer Security (TLS) and AES-256 block-level storage encryption.

Furthermore, the data is stored in the company’s ISO27001 and PCI DSS-compliant data centres. The company also monitors the employees and enforces strict security policies.

Moonpay also has a bug bounty program where you can submit vulnerability assessments. Looking at the above data, we can say that Moonpay is quite safe to use. That being said, you should take ample precautions while doing crypto transactions. The next section will provide tips to protect yourself from these scams.

How to protect yourself from crypto scams?

Let us understand a few ways to protect yourself from the ongoing crypto scams:

Do your research before investing in any cryptocurrency. Do not heed the hype, promises or fake testimonials on the internet.
Check the company’s reputation using tools like Trustpilot, Scamadvisor, and CryptoScamDB, among others.
Avoid using online wallets to store your currency.
Always scan the platform via security vendors such as Virustotal or threatYeti before commencing transactions.

In conclusion, Moonpay is a safe platform where you can buy and sell cryptocurrencies with ease. However, take the abovementioned precautions, and you’re good to go.