There’s no shortage of options for on-ramps and off-ramps, including some of the most well known names in the industry.
Starting with custodial exchanges, big-name companies such as Coinbase and Binance all offer purchases of cryptocurrency with a debit card, as well as a variety of options for moving fiat off-exchange. This can be ideal for those looking to get their hands on some assets to trade. However, there will generally be a commission paid when the client eventually does want to withdraw their assets. While this can be ideal for professional traders and larger players like institutions, it is less so for smaller traders or those who just want to hold. Instant exchanges such as Changelly fit their needs more effectively, as they generally provide a seamless exchange with a minimum number of steps: Users can simply choose a pair, get verified and receive coins directly to their personal wallets.
Additionally, there are many exchanges, including those just mentioned, that also offer OTC trading desks as well. Other companies such as Genesis and B2C2 offer strictly OTC experiences for their clients, and these are sometimes more attractive to institutions. As mentioned, cryptocurrency ATMs can be trickier to track down, but there are tools available that allow you to see if there are any in your area, and they can even sort by what types of assets are being offered.
Let’s say you would like to use your coins as payment; well, you certainly have a few options. As mentioned, some companies such as Overstock, Shopify and Expedia already do take Bitcoin directly. If you want to be more versatile, you should look toward cryptocurrency-funded debit cards. Companies such as TenX and Crypto.com offer fairly popular options that can be used just like any payment card but are linked to a cryptocurrency wallet instead of a bank account.
Different users will have different needs when deciding how to move money between traditional financial services and decentralized ones. Knowing what is available is important so that these choices can be made for an optimal experience. Providing many different roads is arguably the key to bringing wider adoption into the cryptocurrency realm, and with a combination of existing and developing means, hopefully soon nobody will be left out.
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Author: Cointelegraph By Frank Edwood