Off-Ramp
Quick Answer
An off-ramp converts cryptocurrency into fiat currency. Same-day off-ramping is a key feature for merchant adoption of crypto payments.
Full Definition
An off-ramp is any service or mechanism that converts cryptocurrency into fiat currency. Off-ramps are essential for merchants who want to accept crypto but receive traditional money in their bank accounts. Off-ramp methods include centralised exchanges, OTC desks, licensed payment providers, and peer-to-peer platforms. The speed, cost, and regulatory compliance of off-ramping vary by provider. Same-day off-ramping is a key feature for merchant adoption of crypto payments.
Related Terms
On-Chain
On-chain refers to transactions recorded directly on a blockchain, publicly verifiable and immutable — providing a tamper-proof record of every payment.
On-Ramp
An on-ramp converts fiat currency into cryptocurrency, enabling users to fund wallets for purchases via bank transfers or credit cards.
Oracle
A blockchain oracle provides external real-world data (like exchange rates) to smart contracts, critical for accurate crypto-to-fiat conversion in payment processing.
OTC (Over-the-Counter)
OTC trading is direct cryptocurrency exchange between parties without a public order book, used by off-ramp providers to convert large volumes for merchant settlement.