Blockchain Glossary: What are off-ramps?

Cryptocurrency off-ramps act as just the opposite of on-ramps. They are a way to convert your cryptocurrency into fiat, or possibly products and services.

Just as a user needs to pay with fiat in order to buy in, they also need options to get out of cryptocurrency. This means either trading it back into fiat, as that is still the primary payment means in most parts of the world, or using their cryptocurrency to purchase goods or services. While being able to make purchases with digital assets is, in many people’s minds, the ultimate goal, most users are still looking for a way to simply move their value back into traditional currencies. Most, while not all, exchanges and ATMs that act as on-ramps can also be used as off-ramps. Exchanges may have limits on how much can be moved off-platform in a given day, week or month, so it is important to check your account details if using this method. On the other hand, OTC trading always goes both ways and is designed for large transactions, but as mentioned, it may or may not be realistic for smaller investors. If users are looking to use their cryptocurrency to purchase, there are a growing number of options available. Certain businesses are beginning to accept it, for example, but this is still somewhat rare. A more practical solution could be using a service that allows you to use digital assets to fund payment cards, but be aware that there could be high fees attached to doing so, depending on the company.