There are many fiat onramp providers out there, so it’s important to choose the one that’s right for you and your business. Here are some factors to consider:
- __Onramp reputation:__ Before selecting a fiat onramp, you should research a provider’s customer reviews and ratings on external ratings sites like Trustpilot. MoonPay, for instance, is rated ‘Great’ with 4.2 stars out of 5. If you want an onramp to crypto, always make sure to choose one that has a great reputation and strong security practices.
- __Payment methods:__ Different fiat onramps offer varying payment methods, such as cards and bank transfers. And not all providers have the kind of international coverage you might require. MoonPay offers a wide range of payment methods around the world. Those include credit and debit cards, bank transfers, mobile options like Apple Pay and Google Pay. It also offers local options such as SEPA in the EU, Open Banking in the UK, YellowCard in Nigeria, and PIX in Brazil.
- __Transaction fees:__ All fiat onramps will include transaction fees for users to onramp crypto. These fees will depend on things like the payment method, order size, and market conditions. MoonPay charges a small processing fee, as well as a dynamic fee that's based on network activity.
- __Transaction speed:__ Choosing a fiat onramp could come down to how quickly you need your crypto. Centralized exchanges allow you to make instant deposits and trades, though you’ll need to wait if you want to withdraw any crypto. MoonPay’s fiat to crypto onramp allows you to buy crypto in minutes using a card — so you don’t need to wait days for funds to settle on an exchange.
- __Supported cryptocurrencies:__ If you’re looking to convert fiat to crypto, you’ll need to find a fiat onramp that supports the specific cryptocurrency you want to purchase. Most onramp options will offer popular tokens like Bitcoin and Ethereum, but if you’re looking to buy more niche tokens then you’ll have to look for onramps that offer greater coverage. MoonPay offers more than 100 cryptocurrency tokens, including BTC, ETH, USDT, BNB, and USDC.
- __Fiat currency and country coverage:__ Depending on where you live, you may be limited in your options to convert fiat to crypto. Some fiat onramps may have limited token offerings based on regional restrictions, and may not have coverage at all in certain countries. MoonPay offers coverage in more than 160 countries and most US states.