Since bitcoin and digital currencies have become popular, fiat on and off-ramps have sprung up that allow investors to enter and exit the cryptoconomy. However, many of the entryways into cryptocurrency markets have a hefty fee between 1-4% of the overall purchase and in order to obtain fiat for crypto the fees are just as high. Many people believe the high fees associated with crypto on-ramps are a deterrent to mass adoption and a concept that minimizes friction will triumph in the end.
Also Read: Only 375 Days Left for McAfee’s $1M Bitcoin Price Wager
The Fees Associated With Fiat-to-Crypto On-Ramps and Off-Ramps
In order to get into the cryptoconomy, there are a few different ways, like earning digital assets for certain services performed. You can also obtain cryptocurrency from popular exchanges that allow people to swap fiat for bitcoin or a variety of other coins. However, it can be pretty costly to get into crypto markets and just as expensive to exit as many companies charge anywhere between 1-4% of the overall sale.