What Is a Fiat On-Ramp?
A fiat on-ramp is a service that allows users to purchase cryptocurrencies with traditional currencies, such as the US dollar or Euro. This type of service provides an easy way for people to get into the cryptocurrency market without having to go through the process of setting up a wallet and buying coins from exchanges. Fiat on-ramps are typically provided by companies that specialize in providing these services, such as Coinbase or Kraken.
Fiat on-ramps provide convenience and security for those who want to buy cryptocurrencies but don’t have experience dealing with digital wallets or exchanges. They also offer competitive rates compared to other methods of purchasing crypto assets, making them attractive options for new investors looking to enter the market quickly and easily. Additionally, many fiat on-ramps allow customers to use their credit cards or bank accounts when making purchases, which can be more convenient than using cash or wire transfers.