The 2022 crypto market, with all its twists and turns of events, is again tracking its way back to normalcy. As the crypto community witnessed the harsh crypto winter and prominent firms’ downfall, the latest developments hold so much hope for a rebound. Uniswap, unscratched from all the turbulence, is paving its way to provide new offerings for its users.
With Uniswap and MoonPay’s partnership, users can now buy crypto on the Uniswap Web App using a credit card, debit card or bank transfer at the best rates.
Here’s an easy 5 step guide for you.
- Step 1 – Select the amount of ETH you wish to buy
- Step 2 – Enter your email address
- Step 3 – Input your wallet address
- Step 4 – Enter your payment information
- Step 5 – Receive your Crypto!
Also Read: Uniswap Brings Bank Accounts, Debit, Credit Cards Direct to DeFi
Now you must have certain questions in your mind on how you can buy crypto with a card or bank account easily, so here is a quick FAQ:
What payment methods are supported?
The new fiat on ram feature supports major payment methods like cards and bank transfers depending on the region. Bank transfers are only available for countries like Brazil, the UK, SEPA, and most of the US.
What tokens are supported?
At present Uniswap lets users buy DAI, ETH, MATIC, USDC, USDT, WBTC, and WETH, using a card or bank transfer. However certain regions have restrictions, for example, US users cannot purchase WETH or WBTC.
What chains are supported?
You can buy crypto with a card or Bank Account and send it to any wallet on Ethereum mainnet, Polygon, Optimism, and Arbitrum.
Do I need to verify my identity with MoonPay?
No, you do not need to verify your identity to use the Uniswap Protocol, only when you buy crypto through MoonPay. However, to Buy Crypto with a card or bank account, you should refer to MoonPay’s KYC/AML policy.
What are the fees?
Uniswap has some of the lowest fees in the entire market, for users to buy crypto with Card and Bank Accounts.
- No Minimum Fee – unlike other payment processors that often charge a minimum fee regardless of the purchase size, on Uniswap, they are zero!
- No Spread on USDC – Payment processors quote a slightly higher token price than the market rate. This fee is called a “spread” and contributes to their margins. Uniswap has zero spread for USDC purchases!
- Low spread and processing fees – Uniswap also negotiated low spread and processing fees on all supported currencies.
How much crypto can I buy?
- Minimum: Most of the supported cryptocurrencies have a minimum purchase size of 15 USD or equivalent to the local currency of the user. ETH, USDC, USDT, and DAI have variable minimum purchase sizes based on market conditions.
- Maximum: Buy limits depend on which cryptocurrency you buy and which fiat currency you use. For example, USDC has an upper limit of 10,000 on Arbitrum and Optimism, while popular fiat currencies are capped at USD at 12,000, GBP at 9,000, EUR at 10,000, and CAD at 16,000.
Your payment provider may put further limitations on your purchase size. Note that minimum and maximum purchase sizes may change as per MoonPay’s policies.
When will the purchased Crypto arrive in my wallet?
The crypto assets you buy using cards or bank accounts will be available in your wallet within minutes, though the exact payment method will determine the transfer time.
Can I send Crypto back into my bank account?
No, unfortunately, this isn’t available right now. Right now, you can only buy Crypto with a card or bank account. The Uniswap team is working to integrate an off-ramp.
Can I buy NFTs with fiat?
No, you can’t. For that, you need to buy ETH using your Card or Bank Account and then use the ETH to purchase an NFT.
