Frequently Asked Questions

NO - Cryptocurrency investments are NOT FDIC insured:

• FDIC insurance only covers traditional bank deposits

• Bitcoin and cryptocurrency are not protected by any government insurance

• You can lose 100% of your investment

• Cryptocurrency values are highly volatile

• This is fundamentally different from a bank savings account

• Only invest what you can afford to lose completely

NO - We are NOT a registered investment advisor:

• We do not provide investment advice or recommendations

• We are a technology platform that facilitates self-directed Bitcoin purchases

• All investment decisions are solely your responsibility

• We cannot advise you on whether or when to buy Bitcoin

• Past performance does not guarantee future results

• Consider consulting with a licensed financial advisor for investment advice

MoonPay is a licensed money services business:

• Registered with FinCEN as a Money Services Business (MSB)

• Licensed money transmitter in multiple US states

• Compliant with Bank Secrecy Act and USA PATRIOT Act

• For detailed license information, visit: https://www.moonpay.com/licenses

• Each state has different requirements - check if your state is supported

• MoonPay handles all fiat-to-crypto conversion compliance

Some states have strict cryptocurrency regulations:

• NEW YORK: Requires BitLicense - many services unavailable

• HAWAII: Strict digital currency regulations

• ALASKA: Limited cryptocurrency services available

• NEVADA: Some licensing requirements

• WASHINGTON: Money transmitter license required

• Service availability depends on MoonPay's licenses in each state

• Check during KYC if your state is supported

• Regulations change frequently - verify current status

IMPORTANT: Our roundup feature is an ESTIMATION TOOL, not a bank integration. Here's how it works:

• We DO NOT connect to your bank account

• You manually track your daily purchases

• Our calculator estimates what your spare change would be

• When you reach $20+ in estimated savings, you can invest

• This protects your privacy - we never see your banking data

• Think of it as a helpful reminder to invest regularly, not automatic roundups

NO - You maintain complete control! Since this is a non-custodial wallet:

• You must manually click "Claim Bitcoin" when ready

• You control when and if you want to invest

• First-time users must complete KYC verification with MoonPay

• Each purchase requires your explicit approval

• We can't access your wallet or make purchases for you

• This ensures you're always in control of your money

Here's the step-by-step process:

1. You click "Claim Bitcoin" in your dashboard

2. First-time only: Complete KYC verification with MoonPay

3. Enter the amount you want to invest (minimum $20)

4. MoonPay converts your USD to USDC stablecoin

5. The platform swaps USDC for cbBTC (wrapped Bitcoin) on Aerodrome DEX

6. cbBTC arrives in your self-custodial wallet

7. You own and control the Bitcoin - we never hold it

This is BY DESIGN for your security and control:

• Self-custody means only YOU can authorize transactions

• No one (including us) can access your wallet without your permission

• You decide exactly when to invest, not an algorithm

• Protects you from unauthorized transactions

• Ensures compliance with regulations

• Gives you time to review each investment decision

KYC (Know Your Customer) is required by law for converting USD to cryptocurrency:

• Handled entirely by MoonPay, our fiat-to-crypto partner

• One-time process taking 2-5 minutes

• Requires: Name, address, date of birth, and photo ID

• We don't store this information - MoonPay handles it

• Required by US financial regulations

• Helps prevent money laundering and fraud

If MoonPay cannot verify your identity:

• You won't be able to purchase Bitcoin through the platform

• Common reasons: Expired ID, unclear photos, mismatched information

• You can try again with updated documentation

• Contact MoonPay support directly for specific issues

• Your subscription can be cancelled for a full refund if you can't pass KYC

Non-custodial means YOU own your cryptocurrency, not us:

• You hold the private keys to your wallet

• We cannot access, freeze, or steal your funds

• You're responsible for securing your seed phrase

• If you lose your seed phrase, funds are gone forever

• No one can recover lost keys - not even us

• Maximum security but requires personal responsibility

THIS IS CRITICAL: If you lose your seed phrase:

• Your funds are PERMANENTLY LOST

• We CANNOT recover them

• No one can help you retrieve them

• This is how blockchain security works

To protect yourself:

• Write down your seed phrase on paper (never digital)

• Store it in a secure location (safe, safety deposit box)

• Never share it with ANYONE

• Consider making multiple secure copies

Here's a complete breakdown of potential fees:

• Foresight Finance Subscription: $10/month (with 14-day free trial)

• MoonPay Fees: Usually 1-4.5% for fiat-to-crypto conversion

• Network Gas Fees: We sponsor these for you!

• DEX Slippage: Usually <1% on Aerodrome

• No hidden fees from us - partners may charge their standard rates

Your subscription covers:

• Platform development and maintenance

• Gas fee sponsorship (saving you $5-20 per transaction)

• Secure wallet infrastructure via Privy

• User interface and dashboard

• Customer support

• The subscription ensures we can offer these services sustainably

cbBTC is Coinbase Wrapped Bitcoin:

• 1 cbBTC = 1 Bitcoin (1:1 backed)

• Allows Bitcoin to be used on Base network

• Lower transaction fees than native Bitcoin

• Can be unwrapped to regular Bitcoin if needed

• Backed by Coinbase, a publicly-traded US company

• Enables faster, cheaper transactions while maintaining Bitcoin exposure

Foresight Finance operates on Base:

• Base is an Ethereum Layer 2 network

• Built by Coinbase for fast, cheap transactions

• Secured by Ethereum's network

• Much lower fees than Ethereum mainnet

• Your wallet works across all Base applications

• Growing ecosystem of DeFi applications

Yes! You have complete control:

• Send cbBTC to any Base-compatible wallet

• Transfer to exchanges that support Base

• Bridge to other networks if needed

• Convert to native Bitcoin through supported bridges

• No restrictions on withdrawals

• You own your assets completely

YOU are responsible for all tax obligations:

• Buying Bitcoin may not be taxable

• Selling/trading Bitcoin IS a taxable event

• You must track your cost basis

• Report gains/losses on your tax return

• We don't provide tax documents

• Consult a tax professional for guidance

• Consider using crypto tax software

We may be required to report certain information:

• Currently, we don't issue 1099 forms

• Regulations may change requiring reporting

• MoonPay may have separate reporting requirements

• Blockchain transactions are public and traceable

• Always assume crypto transactions are visible to tax authorities

• Stay compliant to avoid penalties

Simple steps to begin:

1. Sign up for Foresight Finance (14-day free trial)

2. Create your wallet (save your seed phrase!)

3. Track your daily spending manually

4. When spare change reaches $20+, click "Claim Bitcoin"

5. Complete one-time KYC with MoonPay

6. Approve the purchase

7. Bitcoin appears in your wallet!

8. Repeat whenever you want to invest more

Yes - $20 minimum per purchase:

• This keeps transaction fees reasonable

• Below $20, fees would eat up too much value

• You can invest any amount above $20

• No maximum limit (subject to MoonPay limits)

• Save up your spare change until you reach $20

• Invest on your own schedule