In the world of money services business (MSB) and cryptocurrency, the terms “on-ramp” and “off-ramp” refer to the process of converting fiat currency (such as the US dollar) into cryptocurrency and vice versa.
An “on-ramp” refers to a platform, service, or exchange that allows users to buy and deposit cryptocurrency using fiat currency. An on-ramp makes it easy for people to enter the world of cryptocurrency and start trading and investing in digital assets.
An “off-ramp” refers to a platform, service, or exchange that allows users to sell their cryptocurrency and receive fiat currency in return. An off-ramp provides a way for people to exit the world of cryptocurrency and convert their digital assets back into traditional currency.
Examples of on-ramps include popular exchanges such as Coinbase and Binance, which allow users to purchase cryptocurrency using fiat currency. Examples of off-ramps include services like PayPal, which recently announced its intention to allow users to buy, hold, and sell cryptocurrency.
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This page was last updated on January 29, 2023.
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