Blade Labs Introduces Simple and Seamless On and Off Ramping with Blade Wallet’s On/Off Ramp Aggregator
Blade Labs is proud to announce the launch of Blade Wallet’s on and off ramp Aggregator in the latest version update (1.2.0) Blade’s Aggregator is a seamless on and off-ramping solution enabling users to buy and sell crypto assets worldwide simply and securely effortlessly. Blade Wallet’s integration with five payment service providers spanning countries worldwide ensures quick, cost-effective and seamless transactions for users worldwide.
Since its inception, Web3 interactions have increased in range and complexity. The surge in activities in and around tokens and decentralized applications has pushed the demands on users to become technically savvy to send, receive and store their crypto assets, with novice users often needing help.
Reducing on and off-ramping frictions is a significant challenge that must be addressed to bring mass adoption of blockchain-enabled applications. On the one hand, users need to have a comprehensive understanding of blockchain technology to interact with its infrastructure. On the other hand, lengthy verification processes, high on-ramping fees and multiple dropped transactions have steered many from engaging with it altogether.
Blade Labs tackles this friction by enabling its wallet to serve as a meta-aggregator for payment service providers (PSPs). These integrations empower Blade Wallet users to transact with Web3 assets in tons of countries worldwide. These PSPs use established digital payment infrastructures in several key markets, including UPI in India, PIX in Brazil, and SPEI in Mexico, resulting in simpler and quicker transaction processing.
Blade tackles the friction further by presenting a user-centric flow that is easy to follow. Blade Wallet’s Aggregator Wizard offers options based on the user’s location, preferred cryptocurrency for buying or selling, and fiat currency used. This helps users find the most cost-effective option available to them.
Blade Labs’ innovative new tool has effectively eliminated the difficulties that come with activities related to on and off-ramping. It has also established itself as a genuinely global wallet that seamlessly integrates with local payment service providers in Asia, Latin America, the Middle East, and Africa.
What Are On-Ramps for Fiat and Crypto?
On-ramp services are required to convert traditional fiat currencies such as US dollars, Euros, or Yen into cryptocurrencies like HBAR, BTC, or USDC. These services provide gateways for individuals seeking to shift from fiat currency to cryptocurrency.
The adoption of Web3 technology by the masses necessitates the availability of on-ramps, as fiat currencies remain the most widely used medium of exchange. These on-ramps are a crucial link between the decentralized realm of cryptocurrencies and traditional financial systems.
When utilizing an on-ramp, users can typically purchase cryptocurrencies using various payment methods such as credit or debit cards, bank transfers, or other forms of payment.
What Are Off-Ramps for Fiat and Crypto?
While on-ramps provide an entry gateway in Web3, off-ramps enable users to exit the crypto space when they want to.
An off-ramp service provider allows you to exchange cryptocurrencies into fiat currencies and receive the fiat amount through bank transfers, e-wallets, and various payment processors. The appeal of off-ramps lies in their competitive exchange rates, ensuring that users can maximize the value of their digital assets during conversion.
On/Off Ramp Vendors on Blade Wallet
Blade Wallet has integrated the following five PSPs for on-ramping and off-ramping services that are customized to meet the needs of users from around the world:
MoonPay, one of the industry-leading PSPs integrated into Blade Wallet, offers a user-friendly solution for purchasing and selling cryptocurrencies using fiat currency. MoonPay supports various payment methods like credit cards, bank transfers, and Apple Pay.
MoonPay is recognized for its reliability and user-friendly features, attributed to its emphasis on security measures, intuitive interface, current pricing data, and a broad range of cryptocurrency support. Through its integration with Blade Wallet, MoonPay provides a seamless and secure experience for individuals seeking to purchase or sell cryptocurrency.
Banxa offers a reliable and versatile solution for users seeking to convert fiat currency into cryptocurrencies and vice versa. Furthermore, it presents a platform for businesses and corporations to register and actively participate in cryptocurrency trading.
Banxa has a global presence in over 100 countries, with only 28 exceptions. While the list of supported countries may be subject to change, Blade strives to provide its users access to the most favorable deals within their respective regions. In line with MoonPay, Banxa accepts various payment methods, including bank transfers, credit cards, and alternative options.
The platform strongly emphasises regulatory compliance, prioritizing security, and adhering to industry standards.
C14 is an innovative payment method integrated into the Blade Exchange platform, offering its users a highly efficient and distinctive means to facilitate buying and selling cryptocurrencies utilizing fiat currency. This innovative method streamlines the process, making it more straightforward and less complex.
C14 provides a straightforward platform for buying and selling. To start using this service, users must complete a simple KYC process. This platform is available in several countries, including the United States, European Union, Brazil, Canada, Mexico, and Singapore.
OnMeta is a platform on Blade Exchange that exclusively caters to Indian and Philippine residents. Users can only purchase cryptocurrencies using the Indian rupee and Philippine peso. OnMeta’s primary market is India, where it has successfully processed transactions worth $1 million in just five months since its launch.
Onmeta offers a streamlined solution for purchasing cryptocurrencies through its platform, utilizing India’s Unified Payment Interface (UPI) system. By allowing payments to be processed directly from local Indian bank accounts in under a minute, Onmeta provides a convenient and efficient means of acquiring crypto. Although the platform currently supports a limited number of fiat currencies, its service remains highly accessible to users seeking a reliable and secure method of buying cryptocurrency.
How Blade’s On/Off Ramp Aggregator Works
Blade Wallet’s On/Off Ramp Aggregator prioritizes user experience by presenting the user with the best crypto-to-fiat or fiat-to-crypto options. The new feature relies on your input to provide the best offer in your region.
Learn how to buy cryptocurrencies with fiat currencies on Blade Wallet by following these simple steps:
- Open the Blade Wallet app.
- Press the Buy/Sell button to see the option to buy, sell, or swap tokens.
- To conduct an on-ramp transaction, press the Buy menu.
- Select the digital asset (such as HBAR) you want to buy and the preferred fiat currency.
- Select the country you’re buying from to get localized offerings from PSPs.
- Enter the amount (in fiat or crypto) you want to buy.
- Click on Show Options, and a list of supported providers will appear alongside their fees and the total amount of tokens you will receive when the transaction completes.
- Select your preferred service.
- Proceed to make payment based on the available option for your selected vendor. Please note when using some vendors for the first time, you may be required to complete a KYC process before proceeding.
- Confirm your transaction.
To off-ramp, choose Sell instead from Step 3 above.