Yes, you read that right. You can now use EUR or GBP to buy crypto directly within DeversiFi. We’ve always been clear about our mission. We’re making it easy for you to make the most of DeFi, in the most convenient and cost-effective way possible. This new integration is just another step in helping you on your DeFi journey. Read on for the breakdown and tutorial.
SCREW THIS BLOG, I WANT TO TRADE NOW. 👈
Why have we added FIAT to crypto trading?
Crypto-crypto isn’t bad. It does the job. But the reality is, crypto isn’t yet the world reserve currency, nor widely accepted as a form of remuneration or payment, not yet anyway. That means most DeFi investors will need to convert their FIAT into Cryptocurrency somewhere and then transfer this to an exchange.
But this is problematic and inconvenient and stressful and costly for a number of reasons:
- Many venues charge either a premium for fiat-crypto trades or there are costs involved that eat away at your financial resources
- If not the above, then most venues take a long time to complete deposit or withdrawal requests from your bank to theirs and vice-versa, eating into your valuable time
- Most venues have tedious and off-putting KYC requirements which put your sensitive data at risk, eats into your time and for many traders, can be a deal breaker
So the question is, is there a way that WE can help YOU on your journey to financial freedom, to profit, to executing the best price on your target token, whatever it may be, without putting you through all that?
Why, yes there is. Enter, Ramp.
Ramp allows any exchange provider (such as DeversiFi) to integrate a way of buying & selling crypto directly inside their application (dAPP). KYC is invisible for the users, and most transaction times are measured in mere seconds.
How does it work?
As always, we’ve opted for simplicity over clunky complexity. You no longer need to buy BTC or ETH on an external exchange before transferring it to your favourite DEX (DeversiFi, obviously) to start trading self-custodially.
You can DO IT ALL on DeversiFi in a few simple steps:
- Select the FIAT currency you wish to exchange and into which crypto asset. Note: despite the screenshot below, we currently only accept GBP & EUR.
2. Next, sign-in by providing your email address
3. Select the parameters, which address you want the funds sent to and which chosen payment method.
4. Barring any issues such as insufficient funds, your transaction will complete and your funds will be visible in your wallet in record time.
DeversiFi gives traders the edge in fast moving decentralised finance (DeFi) markets by allowing them to trade at lightning speed and with deep aggregated liquidity, directly from their privately owned cryptocurrency wallet.
Traders can take advantage of more trading opportunities while always preserving control of their assets for when they need to move fast. DeversiFi’s order-books are off-chain, but settlement occurs on the Ethereum blockchain. This means that traders benefit from fast moving order books and instant execution, without having to trust the exchange and whilst always maintaining control of their assets at all times.
For the first time, traders can enjoy all the benefits that they would expect from a legacy large centralised exchange, but with no exchange or counterparty risk.