Uphold, a popular cryptocurrency broker, has improved its platform by adding an off-ramp alternative through its payment service, Topper. This functionality makes converting cryptocurrency to fiat easier for self-custodial wallet users, decentralized exchanges (DEXs), and Web3 applications.
The Topper off-ramp supports over 230 cryptocurrencies, making it one of the most adaptable tools in the crypto market. It enables users to sell digital assets directly from self-custodial wallets such as MetaMask and receive fiat revenues on their debit cards.
Addressing a Key ChallengeHistorically, self-custodial wallets have had limits in terms of off-ramping. While they grant consumers complete ownership over their assets, they often lack simple mechanisms for converting cryptocurrencies into conventional currency.
Topper fills this gap by allowing people to remove digital assets swiftly and safely. Unlike centralized exchanges, which perform conversions internally, self-custodial wallets rely on third-party services like Topper to facilitate transactions.
Streamlined features for usersThe off-ramp tool is available through the Topper website. XRP Wallet Xaman was among the first wallets to implement this technology, with more partnerships, such as Ledger, Trezor, and Changelly, slated to follow soon.
Topper uses Visa Direct and Mastercard Send for rapid payouts, assuring smooth transfers to consumers’ debit cards linked to their bank accounts. This global reach spans over 230 countries, offering services in underserved regions such as Latin America, Africa, and Asia-Pacific.
Compliance and convenience.To ensure regulatory compliance, users must authenticate their identities by submitting personal information, such as their name, address, and government-issued identity. While this aligns with standard Know Your Customer (KYC) practices, it ensures that Uphold operates within the legal frameworks of the jurisdictions it serves.
Until December 22, the service waives the 1.75% transaction fee for off-ramp transactions. Users can withdraw up to $24,000 every day, which allows for larger transactions.
Improving Self-CustodyUphold’s innovative solution not only addresses long-standing challenges in the crypto space but also empowers self-custodial wallet users to navigate the digital economy more effectively. By streamlining access to fiat currency, Topper is setting a new standard for user autonomy and convenience in the evolving crypto landscape.
