What is Offramp in Crypto?

Off-ramps for cryptocurrencies function exactly the same way that on-ramps do. They provide a means of converting cryptocurrencies into money or, perhaps, goods and services.

A user needs choices to get out of cryptocurrencies just as much as they need to pay with fiat to purchase in. In order to do this, they must either exchange it back into fiat, which is still the main form of payment in the majority of the world or use their cryptocurrency to make purchases.

Procedure to perform an offramp transaction on Transak / Partner of Transak : Bank payout

1) Login to global.transak.com 2) Select the Sell option on the main page 3) Choose the type of crypto, fiat currency and the quantity 4) Click on sell now Find more information here about coverage and payment modes - Link
Login with your Registered email id Note - 1) You will need to enter the OTP received on the same email id 2) You will be prompted to complete your KYC if you are a 1st time user on Transak.
Choose / Enter the bank details where you would like to receive the fiat amount. Note - Please ensure that the bank details entered by you are correct and the account belongs to you only. Money once transferred cannot be refunded!
If not already added, you can add your bank details here, the view may change according to your region.
Review your details and click confirm.
Kindly confirm the disclaimer and click "I Understand the Risk".
Capture the wallet address mentioned here and transfer the crypto, select I have paid once the transaction is successful.
Once you confirm the payment, your order will be processed asap.

Procedure to perform an offramp transaction on Transak / Partner of Transak: Card payout

1) Login to Global.transak.com 2) Select the Sell option on the main page 3) Choose the type of crypto, fiat currency and the quantity 4) Click on sell now Currently, you can sell BTC, ETH, USDT & AVAX etc on transak. Find more information here about coverage and payment modes - Link
Login with your Registered email id Note - 1) You will need to enter the OTP received on the same email id 2) You will be prompted to complete your KYC if you are a 1st time user on Transak.
To process the transaction, the customer must manually provide the card details, CVV, and expiration date. Card verification process: 2.1. The customer must manually provide the card details, CVV, and expiration date 2.2. Billing address country & Card issuing country should be eligible for an offramp payout 2.3. Card verification with a zero-dollar (0$) transaction will be conducted through 3DS authentication by the customer's bank.
Existing customers will see a list of cards already added to the widget. They can choose a card from the existing card list or opt to add a new card.
Review your details and click confirm.
Kindly confirm the disclaimer and click "I Understand the Risk".
Capture the wallet address mentioned here and transfer the crypto, select I have paid once the transaction is successful.
Once you confirm the payment, your order will be processed.

Only Visa/Master debit or credit cards are accepted; attempting to add any other card type will result in the following error:
Upon finishing card verification, if a customer endeavors to initiate an off-ramp order, they will encounter an in-app error conveying that the card is not eligible, signaling that the particular card does not meet the requirements for off-ramp payouts.

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