Many providers claim to offer the lowest fees for buying or selling crypto. However, fees are just the most obvious element of the total cost of a crypto purchase or sale - but not the only one (we provide a clear breakdown of all fees practiced at Ramp in this article.)
Each crypto on-ramp/off-ramp provider has their own rules for pricing cryptoassets, and not many are very transparent about how they do it. This leads to some distortions or outright misleading behavior.
For example, a provider purportedly may purportedly charge some ridiculously low processing fee, but then go on to add a huge spread to the price of the cryptoasset only at the end of a purchase. The consumer is tricked into thinking they're paying a low fee, but in the end, they will receive less crypto.
That's just not how we do things.
At Ramp, we are committed to being as transparent as possible with our practices, and that includes pricing. Here's how it works:
We determine all our cryptoasset prices based on the mid-market rates for that trading pair. This means that we do not add a spread on top.
We price assets based on a floating exchange rate; the actual executed price is determined at the time the payment is received, not at the time that the order was created.
While the price quoted at the start of the transaction is a very good indicator of the executed price (especially if a user uses a fast payment method), the actual executed price is the one at the moment the user’s payment settles into our accounts. This may be lower or higher than the original quote.
For price discovery, we use data from a reputable partner that serves over 300 crypto exchanges and aggregates price data for over 30k trading pairs across a huge array of markets. To add an extra security layer, we’re also partners with another leading crypto price aggregator, which serves as a backup data source.
Finally, in contrast with some providers, we do not add any markups or hide any fees behind questionable pricing practices.