On and Off-ramp for Digital Assets into DeFi
Speed up your fiat on and off-ramp. Get into DeFi in a snap and cash out faster than ever. Eidoo's Instant Single Euro Payments Area (SEPA) takes you from cash to crypto to the world of DeFi opportunities and back, in a flash.
What is an on-ramp and off-ramp for crypto?
Crypto on-ramps are an exchange or service where you can offer fiat money for cryptocurrency. An off-ramp is the opposite and can be referred to as “cashing out.” Off-ramps can also involve spending crypto on products or services.
Any point of entry into the cryptocurrency landscape requires buying crypto/DeFi assets. Not all exchanges and services allow direct fiat purchases, although there is a move in that direction.
One of the first wallets to integrate on and off-ramps for fiat was Eidoo.
Eidoo created a shortcut for European users fatigued by the jump from one exchange to the next to buy digital assets. The instant SEPA offering makes digital purchases quicker — instead of hours, it takes minutes through Eidoo.
Cross-border European wire-transfers from fiat to crypto are now faster and more efficient than ever.
How it works:
To buy cryptocurrencies with Eidoo’s instant SEPA on-ramp you need to do the following:
Download the wallet
Do your KYC
Click on the “Buy” button in the main menu
Select the asset and then the purchase method you prefer
On the wire transfer summary page, select SEPA or INSTANT SEPA (available only for stablecoins). You are provided with the information needed in order to proceed with the payment.
The ease with which crypto can be bought means that DeFi data assets, protocols, and DApps are all the more accessible.
Why? Once you have the Eidoo App and wallet and you have bought crypto you can explore the built-in DeFi exchange, you can order the DeFi powered eidoo VISA debit card and participate in DeFi activities like Yieldfarming. Yield farming, “liquidity mining,” or “staking” is a way to earn rewards with cryptocurrency holdings by locking up cryptocurrencies for a certain period of time.
When you have started earning incentives through the various yield farming strategies available via our cross-chain composability partner, pNetwork, you can off-ramp Defi assets and utilize them as you will.
Download and start using all the services Eidoo has to offer, especially speedy DeFi fiat on-ramp.