- On-ramp services
As its name may suggest, this type of service provides a ‘ramp’ into the crypto world (there are also ramps that go the other way, from crypto to fiat, and they’re known as ‘off-ramps’).
This method is extremely simple.
- You link your card to a particular on-ramp service.
- You send them funds.
- The money is deducted from your bank.
- You receive a set amount of crypto in exchange (you’ll see the exchange rate before you make the transaction, don’t worry!)
In fact rhino.fi has integrated with Moonpay, one of the biggest on-ramp service providers.
With this integration, users can go straight from the fiat world onto our exchange, which is hosted off the main Ethereum blockchain (and thus avoids the high fees).
To find out more about our integration with Moonpay, click here (LINK TO MOONPAY BLOG).
So, in summary:
- There are loads of different ways you can transfer fiat to crypto.
- Each of these methods has different pros and cons, so you can choose the one that’s right for you
- Some methods are riskier than others, particularly over-the-counter exchanges. If you go down this route, be sure you know who you’re dealing with.
- rhino.fi offers a particularly easy method of moving fiat to crypto, using ramping services.
Ok, now you know all the ways you can go from fiat to crypto, stay tuned to RhinoLearn for more advanced tips and guidance about how crypto trading works. If you want a more advanced introductory guide, check out our explainer on the metrics to look for when evaluating a new crypto project.