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Uniswap joins MoonPay for debit card crypto purchases

By Alara Jordan

10:59, 22 December 2022

Uniswap token
The option to purchase cryptocurrencies via bank transfer will be rolled out to users in more than 160 countries – Photo: Shutterstock

The decentralised exchange Uniswap ($UNI) has partnered with the crypto start-up MoonPay to allow people to use debit and credit cards to buy cryptocurrencies in an attempt to "bridge the gap between decentralised apps and traditional currencies”. 

The partnership, which will be powered by MoonPay’s payments processing infrastructure, will allow users to buy cryptocurrency on Uniswap’s web application using debit and credit cards, as well as via bank transfers. 

Uniswap said.: “Self-custody is still the safest way to participate in crypto. We wanted to ensure that all of our users, and users to come, have a safe and secure way to buy crypto without having to depend on centralised intermediaries.”

UNI to USD

The bank transfer option will be rolled out to users within most of the United States, Brazil and the United Kingdom, plus more than 160 other countries. 

DOGE/USD

0.13 Price
-2.590% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872

BTC/USD

66,745.75 Price
-1.060% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

XRP/USD

0.58 Price
-2.750% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

ETH/USD

3,494.56 Price
-1.000% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

Uniswap said it will offer the “best rates in Web 3.0” to allow users to convert from fiat to crypto on the Ethereum mainnet, as well as on Polygon, Optimism, and Arbitrum.

Uniswap, which is built on the Ethereum blockchain, was created in 2018, although its native token, UNI, did not come into circulation until 2020.

UNI entered the market in September 2020 at a price of around $6.50, but it fell to a low of $1.8 two months later in November 2020. The token witnessed a significant rally in the earlier months of 2021, and hit its all-time high price of $43.08 in May 2021. 

At the time of writing, $UNI was changing hands at $5.28 and was down around 0.20% in the previous 24 hours.

Markets in this article

UNI/USD
Uniswap / USD
7.93944 USD
-0.10853 -1.360%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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