Buy-sell crypto with Striga's Crypto API
Buy-sell crypto with Striga's Crypto API
- Striga
- 6 min read
Table of Contents
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Within the crypto industry, there are the concepts of fiat on-ramps and off-ramps. You can also find people using the term buy-sell crypto as well as onramp and offramp.
A fiat off-ramp is any platform, be it a website, app, or anything else, through which users can buy crypto using fiat e.g. buying Bitcoin with EUR.
A fiat on-ramp is the opposite; it is a platform through which users can sell crypto for EUR.
How to pick a fiat off-ramp provider?
There are a variety of services that provide crypto businesses with on-ramp and off-ramp crypto solutions. However, as a business owner, it is your primary responsibility to comprehend the matter of choosing the best ramp payment methods.
The importance of this choice lies in the further growth of your company since different fiat off-ramp & fiat on-ramp offer further conditions.
From a short- or long-term perspective, these conditions directly influence your business in terms of users’ attraction and retention as well as the income of your business.
Understanding the fees related to crypto to fiat off-ramps
The first factor to consider is the fees that the service provider may charge the business and their users. In this regard, the most important thing is to find a service provider that offers the most profitable terms and conditions in terms of fees. So, it would help if you were getting the most competitive rates for you and your customers.
Usually, these fees can differ from provider to another one but here are the pretty common ones:
- Transactional fees. Look for an off-ramp that charges low transaction fees for its services.
- Payment method fees. Some off-ramps charge different fees for different payment methods. For example, an off-ramp may charge a lower fee for bank transfers compared to credit card payments.
- Withdrawal fees. Some off-ramps charge fees for withdrawing your funds to a bank account or other payment method.
How to improve your user experience with a crypto currency off-ramp widget
The second crucial aspect to think about while choosing the best off-ramp solution is the flawless process of dealing with the chosen off-ramp from the users’ perspective.
Here are a few things to look at when evaluating the user experience of an off-ramp:
- Transaction speed. Consider the speed at which transactions are processed by the off-ramp. If you want your users to buy-sell crypto quickly, it is necessary to choose ramp payment methods where the processing time is fast.
- Payment methods. Look for an off-ramp that offers a payment method that is convenient for your users.
- Dedicated vIBANs. Look for an off-ramp that offers a native vIBAN to offramp their crypto and initiate a SEPA payment transfer.
Essential security features in a crypto currency off-ramp widget
Selecting a highly secure fiat off-ramp is important, as it can significantly influence the safety of your digital assets and personal data. Given the potential risks of hacking and data breaches, it’s important to consider a fiat off-ramp’s security credentials to protect the users’ investments and maintain user trust.
Here’s a handy guide on key security aspects to check when choosing a robust and secure cryptocurrency off-ramp:
- Encryption security: A reliable fiat off-ramp should use strong data encryption techniques. Encryption is a proven method that encodes user data, ensuring it can only be accessed by authorized individuals with the correct decryption key.
- Two-Factor Authentication (2FA): A secure cryptocurrency off-ramp should provide an option for two-factor authentication. This security feature requires users to confirm their identity with two different forms of authentication, like a password and a unique code sent to their phones, adding an extra layer of protection against unauthorized access.
- Secure server systems: Prioritize fiat off-ramps that house robust and secure server systems. These are designed to defend against security threats, such as hacking and potential data breaches.
- Regular security audits: Opt for a fiat off-ramp that regularly undergoes independent security audits. This ensures that the platform’s security measures are up-to-date and robust.
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