We’ve had a lot of people contact us asking for clarification on two cryptocurrency-related sites with similar names – MoonPay (commonly searched as Moon Pay) or Moon Bitcoin.
People are looking for information on whether either of the companies is legit or they’re seeking customer reviews or details about the fees that are charged.
We hope we can clear up the confusion once and for all with this article!
MoonPay.io is a financial technology company which specialises in creating developer tools for fiat-to-crypto payments. On its website, the company states that its aim is to “make cryptocurrencies accessible to everyone”.
Both are completely above-board organisations but very different in what their actual role is.
While MoonPay.io is very much a B2B company that works with card acquirers, banks and cryptocurrency exchanges, Moon Bitcoin is very much aimed at the general public.
Moon Bitcoin, alongside its sister faucets Moon Bitcoin Cash, Moon Litecoin, Moon Dogecoin, Moon Dashcoin, Bit Fun and Bonus Bitcoin, give away tiny fractions of bitcoin and crypto to visitors to generate traffic and build ad revenues on the sites.
CoinPot pools together all these together to enable users to collect a larger amount that they can then either spend or send to a bitcoin wallet (such as Coinbase) and ‘hodl’.
Bitcoin faucets have been around for several years and were initially designed to encourage people to engage with the cryptocurrency by giving away small amounts for free.
Developers quickly realised that they could capitalise on this model by selling advertising space around the faucet.
There is no requirement to click on the ads to claim the crypto, but the site owners work on the basis that a certain number of people will, thus making them a profit over anything they’ve given away.
Additionally, there are no charges for using bitcoin faucets or CoinPot. If anyone asks you to pay money for these services then the changes are they’re a scam.
So, as you can see, there is a huge difference between the two sites, but both offer services which are reputable and serve a useful purpose.
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