Cryptocurrency Payment Gateway in your app (MoonPay vs. Wyre)

10 min to read

If would like to make your clients feel free in choosing their payments, you can add a crypto payment to your regular payment methods.

A cryptocurrency payment gateway is a payment processor for digital currencies, similar to the payment processors, gateways, and acquiring bank credit cards use. Cryptocurrency gateways enable you to accept digital payments and receive fiat currency immediately in exchange.

Why you should implement crypto payment into your project?

- Crypto payment become a wild spread feature for many merchants.

With a traditional payment system, you're paying such fees:

3–5% credit card fee; currency exchange fees; the app store fees (30% on Apple).

Switching into the crypto payment you will be paying fees of around 5% instead of 30+%, since cryptocurrencies are digital and know no border.

- Cryptocurrency payment gateways work as a bridge between markets and customers for processing payments.

- If you're still not working with crypto you can easily convert accepted crypto and convert into fiat currency.

- Increasing app security

All apps with inbuild payments use different methods to protect their customer's data. Still, there are some holes that use hackers and scammers.

Switching verification in-app to a blockchain or using something like the OPEN Platform ensures that the app will have the strongest security level.

Cryptocurrency payment flow

1 Your customer chooses to make payment in cryptocurrency at checkout (in-store, on the web, or in-app).

2 Payment amount equal to the digital currency's fair market value at the time of the transaction.

3 The cryptocurrency payment service instantly converts the payment into the currency you choose.

4 The money is added to your account with the provider; it is deposited to your designated bank account in intervals decided on in your service contract.


MoonPay is a financial technology company that builds payments infrastructure for crypto. Its on-and-off-ramp suite of products provides a seamless experience for converting between fiat currencies and cryptocurrencies using all major payment methods including debit and credit cards, local bank transfers, Apple Pay, Google Pay, and Samsung Pay. MoonPay is active in more than 160 countries and is trusted by 250+ leading wallets, websites, and applications to accept payments and defeat fraud.

General MoonPay features

- MoonPay supports over 80 virtual currencies and also supports several tokens for metaverse games like The Sandbox and Decentraland.

- It offers several payment methods for international customers, including Credit and debit cards, Apple Pay, Google Pay, SEPA, and SEPA Instant for Euro-denominated transactions, UK Faster Payments for UK users.

- Trading Fees - 1% to 4.5% depending on the payment method,

- Insurance - MoonPay doesn't have insurance but you don't hold funds directly on MoonPay as you do with cryptocurrency exchanges

- Security - MoonPay uses AES-256 block-level storage encryption and also has two-factor authentication


-A fast and simple way to buy cryptocurrency

-Fast account verification and upgraded spending limits

-Wide international availability


-Processing fees are steep compared to many crypto exchanges

-You need to use your own wallet

-Not available in every U.S. state


Wyre provides a wide variety of world-class payment APIs to power your fintech application. Accept localized payment methods your customers actually want to use. Send global payouts to over 130+ countries using 1 API call. Create compliant accounts that perform KYC checks on your customers. Offer Crypto within your application. Send, receive and manage cryptocurrencies through our Secure Wallets API. Exchange fiat and crypto with our API. Wyre provides competitive pricing and execution. Wyre secures excellent rates and gives you peace of mind knowing that your assets are secure. Contact our team to become a partner and go to market in 6 hours, not 6 months. We're leveraging blockchain technology to build the fastest and most cost-effective way to transfer money internationally. No strings attached. Wyre is a team of payment gurus, early adopters of blockchain, product experts, and tech fans. We work together to balance experience and intelligence, with opportunity and innovation.

General Wyre features

-A wire transfer is a way of moving money electronically between two banks.

-Because the sender must have the funds in their account, wire transfers don't need time to clear before the money is available to the recipient.

-Wire transfers can be used domestically or internationally, and they are often required for major purchases like a down payment on a house.

-You should always verify where you are sending a wire transfer because they are hard to reverse.


-Lightning-fast transfers. While it boasts that its transfers take minutes, expect a still-impressive 6 to 24 hours for your money to be delivered.

-$0 domestic transfers. Domestic transfers between Wyre users are free.

-Low transfer fees. Wyre charges only 0.75% for international transfers, a bargain compared with competitors that charge 1% to 4%.

-No minimum or maximum. Send as little or as much as you need.

-Schedule regular payments. Wyre offers the ability to set up recurring payments.


-Limited state availability. Though new states will be added to its business roster, Wyre currently does not support services in Wyoming, New York, Idaho, Oregon, Washington, North Dakota, South Dakota, Vermont, New Hampshire, Connecticut, Virginia, North Carolina, or Georgia.

Limited country availability. Wyre currently offers full service to the US, Mexico, Brazil, and China only.
-Limited customer service options. Wyre does not offer 24/7 support and limits its phone support to English speakers located in the United States.

Tetiana Holovchenko
Co-founder, Marketing Manager at CookieDev
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