Understanding crypto-fiat offramp better

There are several solutions in Europe to sell crypto. Exchanges, offramp widgets. There can be a better one.

Exchanges focus on getting better liquidity for a wide range of cryptocurrencies and tokens. To provide better spread, rates in the market. Exchanges’ UX is catered for traders, not for everyone. Especially crypto-newbie who just wants to buy/sell crypto. They partner with onramp solutions and fiat payout services to get in fiat and facilitate outgoing bank transfers. Not focusing on making it the best experience. Fiat payout takes up to 4 days!

On/off-ramp Widget solutions bring together liquidity with card acquiring and bank transfers. Focusing on the smooth onramp experience. They focus on solving all the challenges of crypto on-ramp like reducing card fraud rates, dealing with chargebacks, card settlements and floats for them. Their solution is focused more towards crypto businesses to help them onboard more users.

However, the crypto offramp has a different set of challenges.

The most challenging and important one is to prevent money laundering. To verify the source of crypto make sure it is not obtained/earned by illegal means. This means getting a license to comply with AML regulations prescribed by financial institutes or to operate in the grey area depending on the jurisdiction.

The second challenge is banks blocking the user’s account on receiving funds from a crypto exchange or if the source is identified the source to be some sort of crypto-exchange service.

To solve these challenges crypto offramp requires an entirely different approach than how the current solutions like exchanges and widgets are doing it for a better experience.

I am happy to announce Bringin (previously called Offramp ), an offramp solution that solves the above-mentioned crypto offramp challenges in a unique approach.

Bringin is a tool ( a web app) for Europeans to sell crypto from any wallet instantly to receive Euro into their bank account safely in just 3 simple steps.

We currently support these chains: Bitcoin, Ethereum, BNB, and polygon. Strong support for L2s like Arbiturm, Optimism and Bitcoin lightning network.

Join the waitlist at https://bringin.xyz/ to get early access.
For NFT artists, freelancers and employees who earn in crypto, Defi users, this tool could be useful