One of the unique challenges of the decentralized finance (DeFi) world is finding an entry point into a particular ecosystem. To address this challenge and make it simpler for ApeSwap’s users to get started with their DeFi products, they’re teaming up with industry leader MoonPay to offer an easy-to-use fiat on-ramp. Beginning on July 21, 2022, you can purchase crypto using fiat via a credit or debit card on ApeSwap’s site through their new MoonPay integration.
ApeSwap & MoonPay: Two DeFi leaders teaming together
MoonPay launched in 2019 to make cryptocurrency and DeFi more accessible to the masses. Through the MoonPay platform, users can purchase a variety of popular tokens using a credit card or debit card, including:
- BNB, BNB Chain’s native token
- BUSD, Binance’s native stablecoin
- MATIC, Polygon’s native token
- ETH, Ethereum’s native token
- Many other popular crypto tokens!
Through their partnership with MoonPay, users can purchase their choice of crypto without leaving ApeSwap. Although you won’t be able to buy BANANA directly through MoonPay, part of their long-term roadmap for the partnership is to work together to offer the utility token directly through the platform. In the meantime, 24 currencies will be available through MoonPay on ApeSwap at launch time. Tokens on the ApeSwap DEX that are not supported by MoonPay (including BANANA) can be purchased using a MoonPay-supported token, such as BNB or BUSD.
Transaction fees for credit/debit cards will apply: 4.5% total for buy transactions, including 1.0% to the ApeSwap Treasury to support ongoing decentralized autonomous organization (DAO) efforts.
Apple Pay, Google Pay and bank transfer transactions through MoonPay may not be available at launch. ApeSwap confirmed they’re working with the MoonPay team to expand payment options in the future.
How to buy crypto with MoonPay
To purchase crypto using MoonPay, click the credit card icon in the top right of the ApeSwap website to open the MoonPay widget.
Within the MoonPay widget, select how much fiat you’d like to spend and which token you’d like to purchase, then click Continue. The widget will default to the token of the chain to which you’re connected, but you can select it from the list.
Note: If you select a token on a different chain, look for your tokens on that chain when the transaction is complete.
Next, enter your wallet address and confirm your transaction details, then click Continue. That wallet address will pre-fill if you’re already connected to ApeSwap with your wallet.
Note: Be sure to double-check your wallet address! If you send tokens to the wrong address, you won’t be able to recover them.
If you already have a MoonPay account, you will be prompted to log in with your email address and verify using a six-digit verification code.
If you’re new to MoonPay, the widget will prompt you to create an account. Depending on your location, you may need to provide some personally identifiable information.
Note: This “Know Your Customer” process is only for MoonPay and regulatory requirements. ApeSwap does not have direct access to your personal information and does not ask for it as a condition of using our platform.
Enter your preferred card information. Before your transaction goes through, you will have one more opportunity to confirm the details. If everything is correct, authorize the purchase by clicking the checkmark and pressing “Buy Now.”
Once your purchase is complete, receiving your cryptocurrency may take some time. Depending on network activity, the tokens can take up to one hour to arrive in your wallet.
Control your financial future more easily with ApeSwap & MoonPay
Partnering with MoonPay will make it easier for new and current DeFi users to come onboard with ApeSwap, granting everyone more control over their resources. “We’re excited for the opportunity to introduce more people to the ApeSwap platform, and give them the freedom to exchange, stake, and lend digital currencies on their terms.” — ApeGuru, ApeSwap co-founder.