Learn how Best Wallet's integration of Onramper provides you with the best prices for buying crypto.
Onramping is a term used in the crypto industry that refers to exchanging your local currency (also known as "fiat currency"), like US Dollars, into cryptocurrency, like Ethereum (ETH). In short, it describes the process of buying cryptocurrencies.
Various platforms have emerged to make onramping possible, but it is not always straightforward which provider is best. There are things to consider, like method of purchase, provider fees, exchange rates, and time processing the purchase.
By integrating Onramper, buying crypto in the Best Wallet app is frictionless, cost-effective, and convenient.
How does Onramper work?
Best Wallet has integrated Onramper to ensure you have the best possible prices when buying your cryptocurrencies with fiat currency.
Onramper is a third-party aggregator; essentially, it researches and collects platforms where you can buy crypto, bringing it all together in the Best Wallet app.
The aggregator collects information from 20 major onramping and offramping providers and uses 70 factors to determine the best crypto purchase provider. This process means Onramper does all the heavy lifting, leaving you with the best crypto purchase prices at minimal effort.
How do I use Onramper in Best Wallet?
When you buy cryptocurrency in Best Wallet, you will automatically do so through the Onramper widget in-app.
As soon as you enter the amount of crypto you want to buy, Onramper will fetch the best price for you by analysing its supported platforms and choosing the most effective option.
The choice of providers will depend on your geographical location and which cryptocurrency you want to buy - you can see the list of providers per country here.
Onramper also lets you take control and choose the platform yourself. You can select your provider by clicking on the initial provider’s name.
This will open up a list of possible platforms and their offerings for your cryptocurrency buying needs.
What should I do if my crypto purchase via Onramper is stuck processing?
If your transaction on Onramper is stuck processing, there may be a delay in displaying your purchase. First, try refreshing your transaction history in the Best Wallet app.
It is worth noting that processing times on crypto purchases can vary. Some purchases may process instantly, whilst others may take days. This usually depends on the provider and how busy the network is. Onramper’s providers should give you an estimate of how long your purchase transaction will take.
If it has been over a few days and your transaction is still processing, your purchase has likely been declined.
This can be checked within the Best Wallet app as most providers offer a transaction history. Finding this history may differ depending on the provider, but usually logging back into the provider's platform, either via an email confirmation or starting (but not completing) a transaction in Best Wallet:
Go to the home screen
Select “Buy”
Enter an amount to buy (you do not need to complete the purchase)
Select the provider you previously used
Log in to the provider when prompted
Look for a menu with “Order History” or “Transaction History”
Check the status of your transaction
I’ve submitted my documents to a provider but I haven’t received a response
Due to regulations, some providers will ask you to upload certain documents or complete a Know Your Customer (KYC) process that will verify your identity. This will depend on the provider and your location.
Most providers will send you an email to confirm whether these checks have been successful or not. This usually takes around fifteen minutes, but can sometimes take up to three days.
If you still haven't received a confirmation or a message warning your documents have been declined, please contact the provider for support. You can find this information in the confirmation email you received.
Why do I have to pay fees when buying crypto?
When buying crypto, there will be processing and provider fees. These are not set or received by Best Wallet; they are at the discretion of the trusted third-party provider.
The fees are a standard part of fiat-to-crypto purchases, and Onramper will provide you the provider with the cheapest fees and best exchange rate, to ensure you get the best value for your crypto purchase.