What Is a Fiat On-Ramp:
A fiat on-ramp is a platform that allows you to convert fiat money, like US dollars, to a cryptocurrency like Bitcoin. These platforms are usually known as exchanges, and they basically accept your fiat currency, selling you the equivalent amount of cryptocurrency based on the current market rates.
A Deeper Look at This Term:
There are three primary ways you can acquire cryptocurrencies and other blockchain assets. The first one is to mine them. That means offering your computing power to the blockchain network in return for coins or tokens. The other way is to sell goods and services and accept payment in cryptocurrency.
Unfortunately, these two methods are often not easily accessible or reliable.
Fiat on-ramps allow you to buy cryptocurrency with cash. Simply visit a supporting exchange and trade your fiat for an equivalent amount of coins or tokens.
Fiat on-ramps are so-called since they provide you with access to the crypto ecosystem.
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