Trade Meme Coins with Apple Pay: New Mobile App Makes Solana Even More Accessible
Moonshot streamlines the onboarding process, taking users from fiat to Solana’s flourishing meme coin markets with minimal friction.
Onboarding new users into the crypto space has also been complicated. A mixture of confusing technology and unnecessarily complicated jargon repels newbies from diving into the Web3 world.
Moonshot, a new mobile app, aims to simplify the entire process. Abstracting away any mention of blockchain technology, Moonshot gives people what they want - quick, simple access to Solana’s meme coin markets.
What is Moonshot?
Designed for absolute newcomers, Moonshot is a simple iOS mobile application that allows users to buy Solana-based meme coins using trusted payment methods. Powered by MoonPay, Moonshot users can fund their accounts directly using Apple Pay, PayPal, and Google Pay, as well as their credit and debit cards.
Breaking new ground, Moonshot claims to be the first app in Apple’s App Store that enables users to buy meme coins, like WIF and BONK, using Apple Pay.
Moonshot’s unique approach to onboarding completely does away with blockchain jargon and technicalities. Instead of being educated on the importance of seed phrases and private keys before interacting onchain, Moonshot bypasses this step completely. Users simply sign up to the platform with their email address and face ID.
However, after the account has been created, users can export their private keys to alternative crypto wallet providers.
Similarly, the new trading platform avoids wallet addresses. Opting for simplicity and personalization, Moonshot traders can transfer assets to one another by providing their account’s username.
While USD funds in the application are simply shown as cash balances, they’re actually held in Circle’s USDC, a fully collateralized and fiat-backed stablecoin.
According to the platform’s support documentation, Moonshot charges fees on every transaction. These fees are currently undisclosed, but Moonshot informed SolanaFloor in an exclusive statement that the team is “still figuring out optimal % breakdown and price tiers”. As it stands, transaction fees are dynamic and vary depending on network congestion and trade size.
In a bid to attract a rapidly growing user base in a competitive market, Moonshot offers a generous referral system. Users are entitled to 50% of all fees accrued by people they refer, encouraging people to invite their friends to the platform.
Demand for Simplified Onboarding Remains High
The wider crypto community expressed enthusiasm for Moonshot’s launch, with the majority of commentators on 𝕏 considering the application a positive step toward crypto adoption.
However. it should be noted that several commenters saw the application’s announcement as a means of promoting their own meme coins or referral links. These ulterior motives potentially skew public sentiment and do not necessarily reflect belief in the application.
What’s Next for Moonshot?
While currently only available on iOS devices, the team has promised that the application will be released on Android in the near future.
Speaking exclusively with SolanaFloor, a Moonshot spokesperson declared that the platform is “staying on Sol for now, but exploring multichain” options.
While dozens of simplified crypto onboarding platforms exist, Moonshot asserts that it is the only platform in the Apple App Store that enables users to buy meme coins with Apple Pay.
In a fiercely competitive field, is this difference enough to secure sufficient market share for the Moonshot platform?
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