Buying crypto to fund your Deriv cryptocurrency account just got easier with our new fiat onramp services. In this article, we’ll go through what a fiat onramp is and how it works.
Significant and rapid price fluctuations of cryptocurrencies present many opportunities to profit from them, and if you plan to take part in the crypto action, keeping up with the latest trends is essential. One way to jump onto the crypto bandwagon with Deriv is to trade with crypto, as it gives a great opportunity to gain more crypto while trading on your favourite markets.
Before you can start trading with crypto on one of our platforms, you’ll first need to own some. And if you see an upcoming opportunity to profit on one of the markets, you certainly don’t want any delays in funding your account and opening your first trades. The easiest and fastest way to fund your Deriv crypto account is to exchange your fiat currency for cryptocurrency. This process has become much easier than before with fiat to crypto exchange services, also called fiat onramps.
What is a fiat to crypto exchange?
Fiat onramps are services that create a bridge between fiat currency and crypto on the trading platform of your choice. They allow you to purchase cryptocurrency in exchange for your fiat deposit, helping you get your Deriv crypto account ready for trading on our platforms quickly and efficiently.
Onramp services are available globally, no matter where you are in the world, and they handle the entire exchange process. It can be a perfect solution if you want to start trading with crypto but don’t own any. On Deriv, you can trade with Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Tether (USDT) Omni, Tether (USDT) ERC-20, and USD coin (USDC). Once you create a Deriv cryptocurrency account, the digital coins you buy through our fiat onramp solutions will be deposited directly into it. There is no need to create a separate cryptocurrency wallet.
Which fiat onramp services does Deriv currently offer?
At the moment, Deriv offers three onramp solutions that allow our clients to exchange fiat for crypto quickly and easily to start trading on our platforms.
These onramps are Changelly, Banxa, and Xanpool. Each one of them is automatically set to offer you the digital coin matching your Deriv cryptocurrency account.
Let’s choose Changelly as an example to explain how it all works.
Changelly can provide you with a totally seamless trading experience. It’s a crypto exchange that’s speedy, safe, and available all over the world.
Deposits via Changelly can take between 5-30 minutes to be processed, depending on the cryptocurrency chosen and current transaction capacity of a blockchain. Deposits are available in USD, and you can add between 50 USD to 5,000 USD in a single go.
You simply need to choose your location, get verified, and you’ll receive coins directly to your Deriv cryptocurrency account within 30 minutes.
Here is what you need to do to buy crypto via Changelly:
1. Log in to app.deriv.com real account and switch to your cryptocurrency account.
2. Click Cashier.
3. Select Fiat onramp.
4. Choose Changelly.
5. You’ll be redirected to the Changelly website, where you’ll need to select a payment method, your location and an amount of crypto to buy.
6. Create an account with your basic details, add a payment method and proceed with the transaction. Once done, you’ll be sent back to Deriv.
Now, you’re ready to start trading with crypto on Deriv. Sign up for a Deriv account now to start using our fiat onramp services and begin your trading adventure.
Disclaimer:
Cryptocurrency accounts and Fiat Onramp payment methods are not available for clients residing within the EU. This content is not intended for clients residing in the UK.