MoneyLion Crypto powered by ZeroHash allows you to buy, hold, and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin 24/7. In addition to buying crypto whenever you want, you can also set up Auto Invest to make regularly scheduled purchases. And the Round Ups feature allows you to set aside spare change to buy crypto.
What is MoneyLion Crypto?
You need to open a RoarMoneySM account to buy, hold and sell cryptocurrencies through the Moneylion app. If you don’t have a RoarMoney account, you can sign up for one in the app. Whether you’re a crypto newbie or a seasoned crypto buyer, MoneyLion Crypto provides access to popular cryptocurrencies.
How does Crypto Auto Invest work?
The crypto markets can be volatile. Automating your crypto purchases on a regular basis can help you to focus on long-term growth and avoid the hassle of timing the markets. Crypto Auto Invest is an easy way for you to build up your crypto portfolio without having to think about it on a regular basis. It allows you to put your crypto purchases on autopilot (dollar-cost averaging) to avoid any timing risk. And you can turn it off or adjust it anytime.
Here’s how it works: You can pick an amount (as low as $1) to transfer from your RoarMoney account to purchase Bitcoin, Ethereum, or any of the other cryptocurrencies we offer on an automated, recurring basis. You choose the frequency of the deposit (daily, weekly, biweekly, or monthly) that you’re comfortable with, and the purchase happens automatically.
Use Your Spare Change to Buy Crypto
A feature called Round Ups can help you establish good savings habits and build your crypto account. When you make a purchase with any linked external credit/debit card, MoneyLion Debit Mastercard®, or RoarMoney virtual card, MoneyLion will Round Up the transaction to the nearest dollar.
For example, when you buy a coffee for $2.30, MoneyLion will automatically round up the spare $0.70 toward your crypto account. When the total in the Round Up account reaches $5, the money is transferred into your crypto account.
You can turn on Round Ups from your RoarMoney, Managed Investing, or Crypto home screen. You can also turn them on via the More Options screen.
What Fees Does MoneyLion Charge for a Crypto account?
MoneyLion charges $1/month for a RoarMoney account and MoneyLion’s crypto account and trading provider, Zero Hash, assesses a spread for each purchase and sale transaction. This spread is the difference between the exchange rate (market value) they receive from an exchange and the available quoted price MoneyLion receives from them. The exchange rate may be higher or lower based on market conditions. Any spread that is assessed by Zero Hash will be included as part of the exchange rate (or market value) you see on your screen. This spread will also affect the quantity (percentage of crypto coin) you actually receive in connection with your purchase. Read more information here.
MoneyLion Crypto FAQs
Here are a few questions that other users have asked about the MoneyLion app and the crypto product.
What is the MoneyLion Crypto purchase bonus?
MoneyLion offers a bonus for users when they first start purchasing crypto. If you are buying at least $10 in crypto during the promotion period, MoneyLion will reward you with an additional $5 of the same coin. This applies to the first purchase only and you are not eligible if you received a bonus from a past promotion. See terms and conditions.
What are the limits for MoneyLion Crypto?
MoneyLion Crypto has some limits on the amount you can spend when making transactions. The minimum purchase requirement is $1, and you cannot purchase more than $2,500 worth of crypto in one day.
Other MoneyLion Features
You can download the MoneyLion mobile app on your favorite device and create an account today. In addition to creating a RoarMoney account to access MoneyLion Crypto, you could apply for Credit Builder Plus, InstacashSM, an Investment Account and more products and features.