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9 Best Fiat Onramps for Cryptocurrency: A Guide for 2024

16 mins
Fact Checked
by Maria Petrova
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Whether you’re a seasoned investor or a novice dipping your toes into the crypto universe, you need a reliable, secure, and cost-effective method to transition from your traditional fiat currency to digital tokens — a process facilitated by what are known as ‘fiat onramps.’ 

This comprehensive guide unveils the nine best fiat onramps in 2024. From understanding the basics of onramps to discovering the key features of top platforms, we cover everything you need to know.

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What is a fiat onramp? 

An on-ramp is a service, often an exchange, that lets you trade your traditional money (fiat) for digital currency, like bitcoin. The price depends on the market rate when you make the trade.

There are three main ways to get cryptocurrencies. First, you can mine crypto by using your computer to help a blockchain network and receive payment in coins. Second, you can sell things and get paid in cryptocurrency. Lastly, you can use an on-ramp to buy crypto with cash. This could be on a website or at a physical crypto ATM.

On-ramps are important because they let you access the whole cryptocurrency system. Then there are off-ramps, which do the opposite. Off-ramps let you trade cryptocurrency back into regular money. This is helpful because, in many places, traditional money is still the main way to buy things or pay bills.

Why are fiat onramps important for crypto investors? 

Fiat on-ramps are crucial for crypto investors for several reasons. As on-ramps convert traditional money, like U.S. dollars, into digital currencies, they open the gate to the crypto world. This smooth transition allows individuals to move from a traditional, controlled money system to a decentralized, blockchain-based one.

For those planning to invest in cryptocurrencies, learning how to use fiat onramps is an ideal first step. They are a safe and dependable platform to buy and sell a broad selection of digital currencies. The best on-ramps typically feature user-friendly interfaces, low transaction fees, and round-the-clock customer support. Some platforms even offer more complex instruments, such as options trading. In short, fiat on-ramps are vital for anyone looking to step into the crypto world and participate in the decentralized economy.

What are the best fiat onramps?

Coinbase

Best for new investors
Fees
0 – 3.85%
Payment methods
Credit and debit cards
Bank transfers
Payment services
Availability
E.U., Canada, U.S., U.K

Kraken

Best for all trading
Fees
0 – 30 USD
Payment methods
Credit and debit cards
Digital wallet purchases
ACH online banking
Availability
E.U. & 190+

Binance

Best for all traders
Fees
0 – 4%
Payment methods
Credit and debit cards
Bank transfers
Third-party and e-wallet
P2P
ATMs
Availability
E.U. & 100+

Bybit

Best for leverage trading
Fees
0
Payment methods
Credit and debit cards
Bank transfers
Third-party
P2P
Availability
E.U. & 110+

BitPay

Best for easy onramp
Fees
2% + 25¢
Payment methods
Credit and debit cards
Apple Pay
Availability
U.S. & 170

Switchere

Best for fast purchases
Fees
3.6% processing fee + blockchain fee
Service fee 3.4%
Payment methods
Credit and debit cards
Availability
E.U. & 160

UTORG

Best for instant card onramp
Fees
Spread
Payment methods
Credit and debit cards
Availability
E.U. & 170

Changelly

Best for fees
Fees
Third party used for fiat deposits
Payment methods
Card
Bank transfers
Availability
E.U. & 150+

Paybis

Best for user-friendly interface
Fees
0.99% for ACH, 2.49% for cards
Payment methods
Credit card, Debit card, Google Pay, Apple Pay, ACH transfer, Skrill
Availability
US, CA, DACH, Northern Europe & 180+

Moonpay

Best for instant transfers
Fees
1 – 4.5% + dynamic blockchain fee
Payment methods
Card
Bank transfers
P2P
Availability
E.U. & 110+

How does a fiat onramp work?

A fiat onramp works as follows:

  1. You go to an exchange platform or a crypto ATM 
  2. You use your regular money to buy cryptocurrency. The amount of cryptocurrency you receive depends on the current market rates.

Imagine a fiat on-ramp as a gateway onto a highway, leading directly into the dynamic world of DeFi and cryptocurrency. Once you’re on, you gain full access to the entire spectrum of crypto activities. You can buy, sell, trade, and engage in various other financial transactions within this expansive digital ecosystem.

Then, to convert your cryptocurrency back into regular money, you utilize a ‘fiat off-ramp.’ Typically, this occurs when you sell your cryptocurrency on an exchange or use it for purchases. Off-ramps facilitate the transition of your cryptocurrency into the real world, where most transactions still occur with regular money.

This might be the case for a while yet: a 2022 report by Morning Consult outlines the main drivers for crypto adoption, with many viewing crypto as the future of investing and a way to generate income, as opposed to a primary payment method.

fiat onramp crypto
The Crypto Report: Our Analysts on the State of Cryptocurrency: Morning Consult, 2022

Features of fiat onramps

Understanding fiat onramps in the context of DeFi begins with comprehending the key features of popular fiat onramps, especially as they integrate with the broader ecosystem. These features often leverage smart contracts to enhance security and automation. The key features of these onramps include:

  • Bank integration: Banks often flag crypto-related transactions, which may present a problem when buying crypto by transferring funds from your account. Popular fiat-to-crypto conversion services address this by establishing strategic collaborations to ensure whitelisting of transactions. 
  • Extensive security protocols: Secure fiat onramp platforms achieve their status by taking measures to ensure customer information is secure. Additionally, they have measures in place to minimize the chances of unauthorized access to your crypto holdings. The security measures may include cold storage and two-factor authentication. 
  • Multiple payment options: The best fiat onramps offer flexibility and convenience when buying crypto with options including credit/debit card, ACH, Apple Pay, Google Pay, SEPA transfers, and more. 

Benefits of using fiat onramps

fiat onramp money bitcoin BTC

There are several advantages of using fiat onramps in crypto trading. 

  • Regulatory compliance: The journey towards seamless fiat onramps for digital assets involves relationships with traditional banking institutions. This pushes most onramps to adhere to regulatory best practices to maintain the TradFi relationships. 
  • Global marketplace access: Most fiat onramps are available in over 100 countries. Once a user buys crypto with their fiat, they can access this expansive marketplace with various opportunities available. 
  • Low Fees: Most platforms charge low fees to convert your fiat to crypto, with some going further and waiving specific fees.

What are the fees associated with fiat onramps?

Fees associated with fiat onramps can vary based on the platform used. They might include transaction fees, platform service fees, and network fees. 

Transaction fees on crypto exchanges are charges incurred for buying or selling cryptocurrencies. These platforms may charge a fee based on a percentage of the transaction value or impose a fixed fee per trade. Additionally, the deposit and withdrawal fees can differ depending on the payment method and the specific exchange platform. Moreover, if your bank’s currency differs from the one accepted by the crypto exchange, your bank might charge you a conversion fee.

Remember that for each blockchain transaction, including those involving stablecoins and ICOs (Initial Coin Offerings), there are network fees and charges for processing transactions. Some platforms, such as UTORG, absorb these fees for you. This is especially beneficial during high-volume activities like ICOs or stablecoin exchanges. However, be aware that other platforms might impose additional service fees. Therefore, it’s essential to review the fee structure of your chosen platform carefully since these charges can greatly affect the overall cost of your cryptocurrency transactions

PlatformFeesPayment MethodsAvailability
Paybis0.99% for ACH, 2.49% for cardsDebit/credit cards, Google Pay, Apple Pay, ACH transfer, SkrillUS, CA, DACH, Northern Europe & 180+ countries
Moonpay1-4.5% + dynamic blockchain feeCards, bank transfers, P2PE.U. & 110+ countries
Changelly3rd party used for fiat depositsCards, bank transfersE.U. & 150+ countries
Binance0-4%Cards, bank transfers, 3rd party, e-wallet, P2P, ATMsE.U. & 100+ countries
Bybit0Cards, bank transfers, 3rd party, P2PE.U. & 110+ countries
Kraken0-30 USDCards, digital wallet purchases, ACH online bankingE.U. & 190+ countries
Coinbase0-3.85%Cards, bank transfers, payment servicesE.U. CA, U.S., U.K. 
BitPay2%+25¢Cards, Apple PayU.S. & 170+ countries
Switchere3.6% processing fee+blockchain fee+3.4% Service feeCardsE.U. & 160+ countries
UTORGSpreadCardsE.U. & 170+ countries

Choosing your ideal fiat onramp in 2024

Fiat onramps are essential tools for seamlessly bridging traditional finance with digital assets. While choosing an onramp largely depends on your specific needs and comfort level, remember that the core goal is a seamless, secure, and efficient transition between your fiat currency and the world of cryptocurrencies.

We can’t choose only one platform as the best; if, for example, you’re interested in futures trading, your preferred platform will likely be different than that of a newbie investor. The most important thing is to stay informed, choose wisely, and embrace the crypto world’s possibilities.

Frequently asked questions

What are on and off-ramps in crypto?

What are fiat onramps?

What are examples of crypto on-ramps?

What is the best way to onramp a fiat?

What is an on-ramp in finance?

What is the purpose of the on-ramp?

What is the best crypto fiat on-ramps?

Can I withdraw fiat from Binance?

Can I keep fiat on Binance?

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Iulia Vasile
Iulia Vasile is a seasoned professional in the cryptocurrency and blockchain industry, working full-time in the field since 2017. With a background in computer engineering, she has the unique ability to write about complicated topics, including DeFi, NFTs, trading, and AI, in a way that is easy to understand. Iulia learned multiple programming languages while completing her Software Engineering degree in Bucharest at Politehnica University. Iulia brings her expertise and personal...
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