I am building a platform for institutional investors to be able to invest into different DeFi baskets.
What is the best and easiest way to convert large sums of Fiat Money onto a decentralized wallet?
I see two options:
* Over a centralized exchange with tedious KYB process. (Will probably result in losing 90% of potential clients because it is quite complicated and time consuming)
* Using a Fiat On-Off Ramp. Most of the ones I found have really high fees. Are there any competitive options? I feel like losing 1-3% just to get into the system will also push away a lot of potential customers.
3 thoughts on “Whats the way with the least amount of Fees to get into DeFi with large sums.”
Use Polygon. Probably less gas fees than anything else that I can think of.
Exchanges like Coinbase are the only cost effective way to get in unfortunately.
You need to work with a payment processor or bank. For example, Stripe will not allow you to open an account that takes in money that’s meant for crypto, no matter how much. If you have money behind you, it will be easy, but otherwise you will need to call around payment processors and banks, etc. to talk about it.
And FYI, do not get scammed by a payment processor or ban. you would be incredibly surprised how many times people get legally bound into handing a bank 100K just to take payments (was big before stripe came along)