// GLOSSARY -- PAYMENTS & FINTECH

What is Fiat On-Ramp?

1 min read Updated

A fiat on-ramp is a service that converts traditional currency (USD, EUR, etc.) into cryptocurrency — the entry point for new users moving from the traditional financial system into the crypto ecosystem.

WHY IT MATTERS

On-ramps are the bridge between traditional finance and crypto. Services like MoonPay, Transak, Ramp, and centralized exchanges (Coinbase, Binance) accept bank transfers, credit cards, or mobile payments and deliver crypto to the user's wallet.

On-ramp UX is critical for adoption. The best on-ramps are embedded directly in wallets and dApps — the user clicks 'buy crypto,' enters payment details, and receives tokens without leaving the application.

Regulations make on-ramps complex: KYC requirements, money transmission licenses, and banking relationships vary by jurisdiction. This creates geographic availability gaps.

FREQUENTLY ASKED QUESTIONS

What's the cheapest on-ramp?
Bank transfers (ACH, SEPA) are cheapest: 0-1.5% fees. Credit cards are convenient but expensive: 3-5% fees. Compare providers for your specific currency and country.
Do all on-ramps require KYC?
Most do. As regulated financial services, on-ramps must verify identity. The extent of KYC varies: small amounts may need only email, larger amounts require full identity verification.
Can I on-ramp directly to DeFi?
Some services deposit directly to your non-custodial wallet on various chains. This gets you from fiat to DeFi-ready tokens in one step, though KYC still applies.

FURTHER READING

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