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There’s no shortage of options for up and down ramps, including some of the industry’s best-known names.
Starting with custody exchanges, big-name companies like Coinbase and Binance all offer cryptocurrency purchases with a debit card, as well as a variety of options for moving fiat currency over the counter. 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 customer ultimately wishes to collect their goods. While this may be ideal for professional traders and larger players such as institutions, it is less so for smaller traders or those who just want to keep. Instant exchanges like Changelly fit their needs more effectively, as they generally provide a seamless exchange with a minimum number of steps – users can simply pick a pair, verify and receive coins directly to their personal wallets.
Additionally, there are many exchanges, including the ones just mentioned, that also offer OTC trading benches. Other companies like Genesis and B2C2 offer strictly OTC experiences for their clients, and these are sometimes more attractive to institutions. As mentioned, cryptocurrency ATMs can be more complicated to track down, but tools are available that allow you to see if there are any in your area and can even sort by the types of assets they offer.
Let’s say you want to use your coins as payment; well, you certainly have some options. As mentioned, some companies like Overstock, Shopify, and Expedia already take Bitcoin directly. If you want to be more versatile, you should look at cryptocurrency funded debit cards. Companies like TenX and Crypto.com offer quite 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 transfer money between traditional and decentralized financial services. Knowing what is available is important so that these choices can be made for an optimal experience. Providing many different avenues is arguably the key to bringing wider adoption into the cryptocurrency realm, and with a combination of existing and developing means, hopefully no one will be left out soon.
Disclaimer. Cointelegraph does not endorse any content or products on this page. While we aim to provide you with any important information we may obtain, readers should do their own research before taking any action related to the company and take full responsibility for their decisions, nor can this article be considered investment advice.
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