You’re a provider of the cryptocurrency space’s most critical infrastructure. 

Maybe you run a digital wallet or exchange. Maybe you’ve launched a cutting-edge Ethereum dApp that’s racking up volume. Or maybe you’re pushing the boundaries on the latest and greatest DeFi, NFT or metaverse platform.

Wherever you land, you’re here because you want to provide your users with an easy, no-nonsense portal into crypto — so you can get them using your product faster. 

An integrated fiat-to-crypto onramp is a fantastic choice. It’ll allow you to focus your resources where they count, without the added headaches of building a whole new stack and getting the right licenses.

All onramps are not created equal, however. Here’s what you need to consider.

Success rates

It’s a well-kept secret among fiat onramps, but transaction failure is alarmingly high across the board. The factors that can get in the way of a seamless fiat-to-crypto swap are numerous, ranging from KYC failures to poor UX. 

We’re not talking about a handful of isolated incidents, either. Our recent Global Crypto Onramp Report, in collaboration with CoinTelegraph, identified that most fiat-to-crypto transactions fail — 50% after KYC.

It’s worth discussing this glaring issue with prospective partners. Every hurdle your users face is costing you business.

Alternatively, you may want to consider using an onramp aggregator — which intelligently routes to the onramp with the highest likelihood of success in real-time.

Reach

The magic of crypto is that it brings together individuals from all across the globe. There’s just the small matter of individuals actually getting crypto in the first place. 

It’s impossible to recommend an onramp that caters to all users. After all, your Canadian users have very different payment options available than your Cambodian ones. What may work for identity/proof-of-address verification for your users in Ireland may not even be possible for those in India.

If you do cater to a truly global audience, you need a solution that accounts for these geographic differences. Integrating multiple onramps is an option, but it also drastically increases the work required from you to maintain them or replace them in case of downtime.

Make sure you understand where your users are coming from — and which solution(s) are best suited to them. Or, just integrate an aggregator, which gives you the reach of multiple onramps through a single extension.

Fees

The elephant in every crypto room. 

As if navigating success rates and reach wasn’t enough, you’ll also need to be mindful of the fees your prospective onramp charges. Which is tricky in itself, because even two services that offer the same upfront fee will differ in the amount of cryptocurrency they dispense, owing to different conversion rates, spreads, and blockchain network fees.

You want to give users the best bang for their buck. But you should also recognize that fees are second to success rate — what good is a fee if the user can’t complete a transaction?

Aggregation: the best of all worlds

Ultimately, the best onramp for your users is the one that works. And, realistically, you’re not going to get consistent success from a single onramp. 

It can be frustrating. Somewhere out there, the perfect bridge from fiat to crypto exists for a particular user. But if they use the wrong one, they might just give up and leave your platform.

Nobody wants that. Which is why we built Onramper — a comprehensive solution that matches your user with their perfect bridge, based on over 70 different factors. 

We partner with several of the industry’s top fiat-to-crypto onramps (including Banxa, BTC Direct, and Coinify) so you don’t have to. Through a single, powerful widget, you’ll enjoy better coverage, lower fees, and less time integrating and maintaining partial solutions.

Want to find out how Onramper can work for you? Book a call with our experts today.