MoonPay Launches Easy Crypto Spending Solution

This new tool allows users to hold and spend money in traditional currencies. For example: Euros and British pounds, while using their crypto wallets.

This is a big step in making cryptocurrency easier to use, especially for those who want to spend their crypto the same way they would use a regular bank account.

MoonPay Supports Self-Custodial Wallets with No Fees for Transactions

MoonPay Balance works with self-custodial wallets, meaning the users control their crypto instead of relying on a third party. Popular wallets like MetaMask, Phantom, and Bitcoin.com are all supported by MoonPay Balance. For now, the new service is available in the United Kingdom and many countries in Europe, but the company plans to expand to the U.S. soon. MoonPay’s goal is to make it easier for people to access and use both traditional money and crypto in one place.

At launch, users can deposit and withdraw funds using various methods, including SEPA payments, Faster Payments, and Open Banking payments. So, MoonPay won’t charge any fees for depositing, withdrawing, buying, or selling. However, their partners may charge fees for specific services. While users can’t add crypto directly to their MoonPay Balance, they can easily exchange it for traditional currency first.

MoonPay has big plans for the future. According to Ivan Soto-Wright, MoonPay’s CEO, they want to make non-custodial crypto wallets the new “go-to” for handling money. This would mean that in the future, users could treat their crypto wallets just like bank accounts. As the world of cryptos grows, tools like MoonPay Balance are helping people manage their digital and traditional currencies with ease, all in one place.

This new step makes it clear that crypto isn’t just for holding or trading anymore. It’s quickly becoming a way to spend and manage money day-to-day. MoonPay’s move is a big leap toward making crypto more practical for everyone, whether you’re a seasoned investor or just getting started.

Disclaimer

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