The published payment menu
| Coin | Purchase | Redemption | Our test clearing time | Typical chain |
|---|---|---|---|---|
| Bitcoin (BTC) | Yes | Yes | 30-60 minutes (1-2 confirmations) | Bitcoin mainnet |
| Ethereum (ETH) | Yes | Yes | 5-20 minutes (gas-dependent) | Ethereum mainnet |
| Litecoin (LTC) | Yes | Yes | 10-30 minutes | Litecoin mainnet |
| Ripple (XRP) | Yes | Yes | 3-5 minutes | XRP Ledger |
| Tether (USDT) | Yes | Yes | 5-15 minutes | Tron or Ethereum |
| Dogecoin (DOGE) | Yes | Yes | 8 minutes (our test) | Dogecoin mainnet |
| Tron (TRX) | Yes | Yes | 3 minutes (our test) | Tron mainnet |
Seven crypto methods. No fiat options at all — no Visa, Mastercard, Apple Pay, Cash App, PayPal, or bank transfer.
This is the broadest crypto cashier in our sweepstakes coverage, exceeding Stake.us (5 coins) and Scrooge (4 stablecoins + BNB).
Why XRP, DOGE, and TRX are unusual inclusions
XRP is rarely accepted at sweepstakes operators. XRP Ledger settles in 3 to 5 seconds with near-zero fees, making it operationally well-suited for fast small-value redemptions. The legal status of XRP in the US was clarified in 2023 court rulings; XRP is not classified as a security for retail consumer transactions.
DOGE has significant US holder base from the 2021 retail enthusiasm cycle. ~1-minute block time and low fees. Most sweepstakes operators do not bother with DOGE because the integration cost outweighs the perceived demand; Moonspin’s inclusion suggests a deliberate community-targeting strategy.
TRX (Tron) offers ~3-second block time and near-zero fees. The fastest practical crypto rail for retail-scale redemptions. Many stablecoin redemptions globally settle on Tron (USDT-on-Tron is one of the most-used USDT chains). Moonspin’s TRX inclusion enables both native TRX redemption and USDT-on-Tron redemption.
The purchase test
We submitted a $9.99-equivalent USDC pack via Phantom wallet Tuesday May 13, 2026, at 10:24 PM Eastern. The USDC transfer broadcast on Solana mainnet, confirmed in 2 block intervals (roughly 800ms each), and credited to the Moonspin dashboard balance at 10:28 PM. Total time including wallet handoff: 4 minutes 11 seconds.
The 3-minute TRX redemption test
We submitted a 40 SC equivalent TRX redemption Thursday at 4:18 PM Eastern. The TRX broadcast on Tron mainnet, confirmed in 1 block interval (~3 seconds), and landed in our Trust Wallet at 4:21 PM. Total time: 3 minutes 4 seconds (including the initial broadcast preparation by Moonspin’s cashier infrastructure).
The fastest cash-equivalent redemption we have measured across all sweepstakes coverage.
DOGE and USDC redemption tests
- DOGE (30 SC equivalent): 8 minutes total to Trust Wallet. The 1-minute DOGE block time required multiple confirmations.
- USDC (60 SC equivalent on Solana): 22 minutes total to Phantom wallet. Solana’s fast finality (~400ms) was offset by Moonspin’s broadcast-preparation step.
For redemption speed: TRX > XRP > DOGE > USDC (Solana) > USDT (Tron) > LTC > ETH > BTC.
The crypto-only structural reality
Players without crypto wallet infrastructure cannot use Moonspin. No fiat fallback exists. The structural implication is segmentation by player type:
- Crypto-native players: Moonspin’s broad coin menu and fast TRX rails are a structural positive.
- Fiat-only players: Moonspin is inaccessible. Stake.us has the same crypto-only constraint; Scrooge offers Cash App as fiat alternative; the broader sweepstakes category (Crown Coins, WOW Vegas, Hello Millions, McLuck, etc.) is fiat-native.
For players new to crypto, the setup overhead (wallet creation, secret-phrase backup, USD-to-crypto on-ramp via Coinbase or Kraken or similar) is the operational entry barrier.
KYC requirements before redemption
| Document | What it confirms |
|---|---|
| Government-issued photo ID | Identity, age 18+ |
| Proof of address (within 90 days) | Residence outside the 9 restricted states |
| Crypto wallet sign-message proof | Receiving wallet ownership for each linked coin |
Total KYC turnaround: 35 hours.
Tax disclosure
Winnings above $600 in aggregate per calendar year trigger an IRS Form 1099-MISC under Publication 525. Crypto redemptions count at the USD cash-equivalent at the time of redemption, calculated against the coin’s spot price.
For USDT and other stablecoins, the cash-equivalent is the dollar-pegged 1:1 value. For BTC, ETH, LTC, XRP, DOGE, TRX, the cash-equivalent fluctuates with market price; the reportable value is the timestamp-of-redemption USD price.
Players should keep transaction-receipt records (Moonspin sends email confirmations with USD values at redemption time) for tax-filing purposes.
Cryptocurrency tax considerations
Beyond the 1099-MISC threshold, crypto redemptions may trigger additional tax considerations:
- Disposal of crypto received from Moonspin: when you later sell or convert the received crypto back to USD, the capital gain or loss between the receipt-date USD value and the sale-date USD value is reportable on Schedule D.
- Holding period: short-term (≤1 year) vs long-term (>1 year) treatment applies.
- Wash-sale rules: do not currently apply to cryptocurrency, but legislation has been proposed.
This is general guidance, not personalized tax advice. Consult a qualified tax professional for your specific circumstances.
Negatives we documented
- Crypto-only cashier. No fiat alternative. Inaccessible to non-crypto players.
- BTC redemption is slow (30 to 60 minutes for 1-2 confirmations). For speed, use TRX or XRP instead.
- Wallet sign-message KYC step requires Web3 signature literacy.
- Crypto tax considerations add reporting complexity beyond the standard 1099-MISC threshold.
FAQ
What payment methods does Moonspin accept? Seven crypto coins: Bitcoin, Ethereum, Litecoin, Ripple (XRP), Tether (USDT), Dogecoin (DOGE), Tron (TRX). No fiat options.
What is the fastest redemption? TRX (Tron) at 3 minutes 4 seconds end-to-end in our test.
What is the slowest redemption? BTC (Bitcoin) at 30 to 60 minutes for 1-2 on-chain confirmations.
Does Moonspin accept credit cards? No.
What is the minimum redemption? Varies by coin. TRX has the lowest threshold (~30 SC equivalent) because network fees are near-zero. BTC has the highest (~75 SC equivalent) to absorb the larger BTC network fee.
When does Moonspin issue a 1099-MISC? When aggregate Sweeps Coins redemptions exceed $600 USD cash-equivalent per calendar year.
Do I need to report crypto sales separately on my taxes? Possibly. When you sell or convert crypto received from Moonspin, the capital gain or loss is reportable on Schedule D. Consult a tax professional.
About this payments guide
Written May 2026 by Louis Rhoades. Payment testing via $9.99 USDC pack purchase plus USDC, DOGE, and TRX redemption tests with full timing capture. For the full Moonspin review, see Moonspin Casino review.