CoolWallet has partnered with leading crypto payment platform MoonPay to offer you a safe and convenient integrated crypto purchasing service on our CoolWallet app. Let’s learn more about this new celebrity favorite, which counts Justin Bieber and Snoop Dogg as early investors.
What is MoonPay?
With the simple aim of increasing cryptocurrency adoption, MoonPay created a secure software solution that enables people globally to participate in the crypto world. Beginning with its crypto purchase service, MoonPay is expanding its market to allow users to buy and sell cryptocurrency and NFTs through several major convenient payment methods. Currently, MoonPay is supporting more than 80 digital assets and has served more than 5 million customers around the world.
MoonPay launched in 2019 with a small team of two young entrepreneurs – Ivan Soto-Wright and Victor Faramond. In November 2021, MoonPay closed its Series A funding round at $555 million, bringing its valuation to an incredible $3.4 billion. Some of the celebrities who participated in the investment were already users of MoonPay and realized the potential of NFTs, Web 3.0 and cryptos. They believe that Web 3.0 is inspiring the entertainment industry, and enables them to reimagine the way to create community and build new value.
Why should I use MoonPay with the CoolWallet App?
MoonPay is now supported and integrated into our CoolWallet app (iOS/Android). This enables you to easily purchase crypto in a very simple and safe way and store it safely on our CoolWallet in secure cold storage! Here’s how.
Advanced security technology
CoolWallet is the world’s most convenient hardware wallet, designed to protect your digital assets inand equipped with advanced security technologies, such as an encrypted Bluetooth connection (AES 256 military-grade) and 2+1 factor authentication (biometric and physical verification of all transactions via the app and card).
With the cold storage technology of CoolWallet, your private keys are stored offline and permanently sealed inside CoolWallet’s EAL6+ secure element, so your digital assets are not exposed to hacks and scams.
In addition, security and privacy are also two cornerstones of MoonPay’s policies. Applying the latest data encryption technique, security monitoring solutions, and secure development methods, MoonPay is constantly reviewing its policies to ensure they are up to date and compliant with the industry standards.
Therefore, you can purchase crypto via MoonPay’s service in the CoolWallet App worry-free, knowing that your information is protected by MoonPay’s security mechanism. As soon as the transaction is successfully completed, your crypto will be sent directly to your CoolWallet where it will remain in safe cold storage.
Intuitive, easy-to-use design
Via the CoolWallet app, you only need to select the fiat, crypto, and the preferred purchase amount to complete a crypto purchase transaction. CoolWallet’s app will automatically help you to list all available crypto addresses, and you can simply select the one you choose rather than copy the address from one page to another. The whole purchase procedure can be completed within a few minutes. Once a crypto purchase transaction is successfully completed, your purchased crypto will be secured by CoolWallet.
CoolWallet is made for everyday use, helping you to retain access to your funds in cold storage on the fly, wherever you are, in order to capitalize on market dips or pumps. No need to go home and fire up the old USB hardware wallet on your computer again!
CoolWallet’s unique credit card-sized form factor means you simply keep it with your bank cards in your real wallet and put it in your pocket. If anything happens to your phone or card, simply restore it elsewhere via your recovery seed.
Enjoy your crypto on your own terms- anytime, anywhere, in the safety of premium cold storage!
Check out our Step-by-Step Guide for Crypto Purchase via MoonPay and start the new crypto purchase journey 🙂
How to Purchase Crypto with Fiat with CoolWallet and MoonPay (Step-by-Step Guide)
In this CoolWallet MoonPay Crypto Purchase guide, we show you how to use the integrated MoonPay fiat deposit in the CoolWallet App in order to buy your favorite cryptocurrencies by credit card. The process might seem a bit tedious and long for your first purchase, but it’s actually pretty quick and subsequent orders are even faster once you’ve verified your KYC identity.
Know Your Customer (KYC) refers to the verification of a customer’s identity, typically by a financial institution. Customers are required to provide personal information. The information is used to ensure that the customers are not involved in financial crimes such as corruption, bribery, money laundering, and terrorism financing. If you do not complete the KYC process, you may not be able to access some features on a cryptocurrency exchange.
If you have already previously purchased crypto via MoonPay and completed their KYC process for the wallet address you are going to use, feel free to skip steps 1, 6, 7, 8, and 9.
Friendly reminder: Please check with your card issuer if your credit card is allowed to purchase crypto.
Part A: Set up Transaction on CoolWallet App
Step 1. Have your personal email address, phone number, and identity document ready. MoonPay supports different kinds of documents: an ID card, passport, driving license, or residence permit. Allowed documents might be different depending on different countries.
Please make sure that your document meets the following requirements:
- Your document is not expired.
- All 4 corners are visible.
- Your face is on the document.
Step 2. Open your CoolWallet App and click the “Marketplace” icon in the bottom bar. Scroll down and click the “Crypto Purchase” block.
Step 3. Select the fiat type you want to pay with and the crypto you want to receive. Then type in the amount you want to purchase. Choose the offer from MoonPay and click the “Exchange” button.
You’ll now enter the “Payment” page, go ahead and click the down arrow.
Step 4. Select the crypto addresses where you want to receive the crypto. Click the Back arrow icon on the top-left corner back to navigate back to the “Payment” page.
Next, click the “Check Out” button to proceed and be redirected to MoonPay’s web page.
Part B: Verify transaction details on the MoonPay website
Step 5. If your requested payment amount is within the allowed limits, you’ll be asked to confirm and re-enter it. Confirm the amount to purchase and click “Continue” next to enter your email address for verification. After entering your email address and clicking “Continue”, you will receive an email with a verification code from MoonPay.
If you have already purchased crypto via MoonPay and completed the KYC (Know Your Customer) process for the wallet address you are going to use, feel free to skip step 1, 6, 7, 8, and 9.
Step 6. Fill in your verification code and click “Continue”. Then, click “Add address manually” on the bottom of the page. Fill in your billing address and click “Continue”.
Part C: Verify your identity on MoonPay
Step 7. The system will now ask you for identity verification. Please choose your country and the ID type and click “Continue”.
Step 8. Upload the photo of your identity document and reverse side if needed.
Step 9. Next, you will be asked to take a selfie. Be patient as it might take a few seconds to proceed with your application.
Part D: Make the credit card payment on MoonPay
Step 10. Type in your credit card information and click the menu icon to select the wallet address. Click “Continue” for the next step.
Step 11. Check payment details before clicking “Pay” and “Confirm order”. The transaction will take a few minutes to complete. You can view the progress in your MoonPay account and click “order details” to check transaction details.
Pro Tip: On the top-right corner of the screen, there is a menu icon. You can click on it to view your transaction history, change language, and manage payment methods.
Congratulations! You have just converted fiat to your favorite crypto asset with the help of CoolWallet and MoonPay. Give it some time and go say hello to your new crypto purchase in the CoolWallet App. Happy HODL’ing and trading!