💸 Alchemy Pay Ramp

On Ramp

Alchemy Pay On-Ramp provides the ability for our partners that their users can purchase crypto directly with fiat currency via a variety of local and global fiat payment methods. It can be useful for users who are new to the world of crypto and may not yet have any cryptocurrency holdings. By allowing users to purchase crypto directly with fiat currency, exchanges, DeFi protocols, Wallets and Web3 services can make it easier for new users to enter the crypto market and start investing in digital assets.

Three main problems for new Web3 entrants

• Understanding terminology
  The world of Web3 is filled with technical jargon, concepts like "wallets", "private keys", and "gas fees", that can be difficult to understand. And understanding these terms is critical to being able to navigate and use these platforms effectively.
• Security risks
  Unfamiliar with best practices for transferring crypto within complex blockchains, with the addition of Web3 platforms are vulnerable to hacking and other security threats, which can put users at risk of losing their funds.
• Lack of customer support
  Decentralized platforms and transactions have limited customer support. New users may struggle to find answers to their questions or resolve issues that arise, which can be frustrating and can lead to mistakes or loss of funds.

Our solution

Alchemy Pay On-Ramp lets our partner platforms enable their users to buy crypto from fiat through various payment methods with one simple integration. Not just Card, we have supported more than 40 countries' Bank transfer, Mobile wallets, regional providers. Please check our full list of Supported Payment Methods.

User flow for Alchemy Pay On-Ramp (ex. Page integration)

1. The user places an order after choosing their preferred crypto and network, the fiat they want to pay. Then redirected to our buy crypto page.
2. Enter the wallet address / Or provided by the partners' platform in their flow.
3. Add a payment method, such as a credit card or bank account. This will enable users to purchase crypto with fiat.
4. If this is the user's first time buying via Alchemy Pay, they may involve KYC which needs to provide personal information and complete a verification process.
5. Confirm the purchase, then our service will convert the fiat to the chosen crypto and transfer it to users' wallet.
6. With cryptocurrency now in users' possession, they can use it for a variety of purposes, such as trading on exchanges, making purchases, or holding it as an investment.

Off Ramp

What is Alchemy Pay Off-Ramp?

Alchemy Pay Off-Ramp enables your users to sell crypto into fiat and have their funds sent to bank accounts around the world. Users can bypass complex processes and enjoy simple, quick fiat payouts with the industry’s most competitive fees.
With Alchemy Pay, moving funds from crypto to local fiat currency has never been easier. We support over 50+ countries up to now.

Problem

Without Off-Ramp, users typically have to navigate several steps in order to sell their cryptocurrency for fiat currency. These steps may include:

1. Learn about swapping and bridging
2. Swap one crypto for another and bridge it across blockchains.
3. Find an exchange which allows off-ramping, and transfer cryptocurrency to this centralized exchange.
4. Converting it to a stablecoin
5. Withdraw the stablecoin to a bank account.

Our Solution

With Alchemy Pay Off-Ramp in Web3, the process of selling crypto to fiat is much more convenient.

1. Users can simply select the cryptocurrency they want to sell, specify the amount they want to sell, and choose the fiat currency they want to receive.
2. The Off-Ramp platform then handles the rest of the process, automatically converting the cryptocurrency to fiat and depositing the funds into the user's bank account. This streamlined process saves time and reduces the risk of errors or complications.

Use Cases

The Alchemy Pay Off-Ramp enhances the user experience of any decentralized application and empowers users with greater autonomy over their cryptocurrency assets, especially for dApps that aim to attract mainstream users unfamiliar with web3 technology.

• NFT Marketplaces
  Allow your NFT creators and traders the option to move into their local fiat currency with ease.
• DeFi Protocols
  DeFi users typically want to organise their funds between both crypto and fiat. Enable them to do so with minimum fuss.
• Play-2-Earn Games
  Play-to-earn games provide a very real opportunity for the new gig economy. Enable your users to feel the benefit in both crypto and fiat.
• Crypto Wallets
  Make your wallet a comprehensive system for all your user’s needs so you're all they'll ever need.

User Flow for Alchemy Pay Off-Ramp