The amount of time users spend on making profitable exchanges or purchasing goods or services in cryptocurrency and the volume of necessary expert knowledge have never been so small. So let’s dig in and see what crypto on- and off- ramps are, where, and why you can use them.
What are crypto on- and off-ramps?
Crypto on and off ramps are basically the bridge between fiat money (used by different governments in different countries, e.g., dollar, euro, etc.) and cryptocurrencies. Every year it becomes less and less complicated to use, allowing everyone interested to make the most of it. There are two types of crypto ramps:
- Crypto on-ramp. It’s the system that allows users to exchange their fiat money into crypto, so they can pay in digital assets.
- Crypto off-ramp. This one is reversed: it allows withdrawing cryptocurrency in fiat.
However, the providers of such technical solutions usually offer both: on- and off-ramps.
Who needs a crypto ramp solution and why?
Stock markets, e-wallets, and marketplaces can benefit most from such a solution. Why? The answer is simple: these ramps connect the legacy financial system to the decentralized, next-generation internet of money. The more cryptocurrency is in demand ( and we see that it only grows), the more necessary ramps are.
However, is it worth building your own crypto on and off ramps? It’s not, as it will take loads of time and money. The best way to implement such systems into your business is to use a ready-made solution. For example, you can always contact the AB Exchange specialists and get all the benefits of on- and off-ramps: they are fast, reliable, and allow you to earn more, expanding the geography of your customers’ presence.
Thus, a typical everyday user will focus on the actual use of digital assets, not just buying them. In the meantime, it broadens the number of ways to get paid for your business services. And the more money sources there are, the bigger the profit is. Plus, you keep up with the times, so you don’t need to reinvent payment options all the time.
How do crypto ramps work?
Unlike exchanges, crypto ramps are more focused on cryptocurrency use, not its trade. So an end-to-end crypto ramp solution is a simplified and maximally optimized exchange/swap mechanism that lies between crypto and fiat currencies. Here are all the features of such solutions, turning them into one fast and easy-to-use system:
- Identity verification;
- Compliance checks;
- Asset pairing;
- Liquidity and reserves management;
- Counterparty matching (if applicable):
- Payment processing;
- Funds delivery.
All of these characteristics make the crypto ramp experience quick and pleasant for both a business and a user.
Do you have any questions left? Or are you looking for a reliable and convenient end-to-end crypto ramps solution? We can offer that! Contact us, and let’s start our partnership together!