Nifty’s is thrilled to announce our new partnership with MoonPay, the cryptocurrency payment platform designed to encourage crypto adoption all over the world. This partnership comes out of our shared desire to demystify the blockchain and create the most accessible NFT powered experiences.
Starting in June, MoonPay’s seamless payment options will be integrated into the Nifty’s platform to improve and simplify the transaction experiences. The new partnership will begin with four key payment touch points, which will be integrated throughout the month in advance of the next phases of our Matrix Avatars program and a few more programs we’ll be announcing soon.
Is there a Seller/Selling Limit?
Yes. MoonPay can only be used for Fiat purchases and there are limits for a seller based on their KYC level.
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Level 1 KYC’ed sellers have the following limits for Fiat purchases::
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5,000 Euros total ($5,211.64 USD)
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Level 2 KYC’ed sellers have the following limits for Fiat purchases::
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10,000 Euros per day ($10,423.28 USD)
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50,000 Euros per month ($52,116.40 USD)
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100,000 Euros per year ($104,232.81 USD)
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This means that no item can be purchased via MoonPay card checkout that exceeds the Daily Limit of 10,000 Euros ($10,423.28 USD).
Is there a Buyer/Buying Limit?
Yes. MoonPay can only be used for Fiat purchases and there are limits for a buyer based on their KYC level.
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Level 1 KYC’ed buyers have the following limits for Fiat purchases::
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5,000 Euros total ($5,211.64 USD)
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Level 2 KYC’ed buyers have the following limits for Fiat purchases::
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10,000 Euros per day ($10,423.28 USD)
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50,000 Euros per month ($52,116.40 USD)
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100,000 Euros per year ($104,232.81 USD)
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This means that no item can be purchased via MoonPay card checkout that exceeds the Daily Limit of 10,000 Euros ($10,423.28 USD)
Do the limits apply for crypto purchases, card purchases, or both?
Limits apply only to purchases made through the MoonPay card checkout flow. Crypto purchases and sales do not currently have limits.
What are the KYC Levels and Steps and who needs to do them?
KYC stands for Know Your Customer. In order to achieve KYC status, customers will be asked to verify their identity. Once their identity is verified, they will be able to buy and sell on Nifty’s using MoonPay. There are currently two KYC levels. MoonPay will ask everyone for their basic info including: Name, DOB, and address. Users may then also be randomly asked for more information and this will apply to both buy and sell.
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Level 1: Every Seller
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Level 2: All Buyers and Sellers in excess of 5000 Euros ($5,211.64 USD) in transactions
What features of MoonPay will be on Nifty’s site?
You will be able to use MoonPay for the secondary marketplace card checkout flow, Fiat on-ramp, and Fiat off-ramp.
What features of MoonPay will NOT be on Nifty’s site?
MoonPay will not be available for primary sale purchases.
How many wallets can I use with MoonPay?
You can only use 1 wallet address for MoonPay that is connected to your Nifty's account. MoonPay doesn’t allow an address to be KYC’d on 2 different accounts.
Why was my KYC verification rejected with MoonPay?
You can check out the common rejection reasons here.
How do I resubmit my KYC verification?
You can go here to resubmit your KYC verification.
What territories are excluded from MoonPay?
Check Supported and Unsupported Territories for NFT Products to find out if your country/territory is included.