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Definition: MoonPay

A service incorporated into crypto wallets that lets people buy crypto with fiat from a bank account, credit card or debit card. Known as an on-ramp/off-ramp service, when people establish a new crypto wallet, MoonPay is used to authorize the transfers. MoonPay also makes it easier to purchase NFTs on major NFT marketplaces (see NFT). To help people understand the technologies, the MoonPay.com website provides helpful articles. See crypto on-ramp.

A MoonPay Fiat Exchange
In this example, an account is being established, and $300 is exchanged for USDT stablecoins. The difference between the 283.5 USDT and $300 is the transaction fee. See stablecoin.