Transak fiat/crypto on-ramping explained
As a novice crypto investor, one of the most difficult things to learn is creating accounts with different exchanges for buying different currencies or trending crypto coins. This often impedes users from entering the crypto market. But now, an easy solution for this is available in the shape of on-ramp platforms.
On-ramp platforms allow you to buy numerous cryptocurrencies in one place with your fiat currency. One fiat/crypto on-ramping platform that has become popular is Transak -the platform offers a smooth integration and onboarding process, which is ideal for small or medium-scale businesses. Let's find out how on-ramping works on Transak!
What is Transak?
Transak is an easy-to-navigate on-ramp platform allowing users to buy cryptocurrencies directly from their fiat wallets. It mainly works for small to medium-scale blockchain companies to offer their clients access to an array of coins. It currently supports over 100 cryptocurrencies on over 75 blockchains and is available in 125 countries.
Currently, it is most popular in the UK, offering its customers an easy-to-integrate widget for their DApps. It can take care of all the KYC, regulations and offer multiple payment methods. With this widget, your fiat to crypto transactions would take about 8.5 minutes.
How does Transak work?
Transak is built with keeping developers' ease of integration front of mind. It provides a customisable software development kit, making it flexible to be used with different platforms. It also offers white label APIs to further assist with customisation.
How to integrate it with DApps?
Transak vs other crypto on-ramps
It is a relatively new name among the on-ramp platforms. Several other big players like eToro, Binance, Coinbase, Kraken, Crypto.com, and others exist. These platforms offer much more dynamic on-ramping services as they are exchanges. Moreover, these exchanges can complete transactions within seconds and have a larger library of cryptocurrencies.
On the other hand, these are higher-priced options that are not desirable for small firms. Transak may serve as a better choice for these firms as it is cost-effective and does not require too much developer assistance. That's why it may be a worth exploring option for your business.
Fiat/crypto on-ramping has become a crucial requirement for users. It helps them to do trading on the go directly from their fiat wallet. Though numerous big names exist in this space, these are costly for small businesses.
However, Transak provides a relatively economical option you can easily offer your customers. It deals with more than 100 coins and is flexible to integrate into your app or website.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.