Any crypto user is fully aware of how time consuming it can be to off-ramp crypto into your bank account. Whether you’re off-ramping your earnings or just want to cash out on some crypto you’re not using in Web3, having to go through the off-ramping process is annoying and takes a lot of time. At least, the old way. Spritz makes off-ramping a breeze by letting you off-ramp crypto or pay bills directly from your self-custodial, Web3 wallet in just one transaction.

One of the primary blockers in mass adoption of Web3 is the UX of blockchain platforms. Blockchains are complicated to operate with the current Web3 infrastructure, which is to say it does not integrate easily with the real-world. Centralized exchanges are convenient for day traders and casual crypto investors, but they don’t enable day to day use of Web3 platforms.

On the other hand, Web3 platforms might offer real utility—from metaverse activations and video games to DeFi platforms and DAOs—but users still face UX challenges having to navigate these systems to use and off-ramp their crypto into the real world. Single transaction off-ramping and crypto bill pay is a step toward making crypto more accessible to everyone.

How to off-ramp crypto through a centralized exchange:

If you keep your crypto in a self-custodial wallet you have a couple of options when you want to off-ramp it into your bank account to use in the real world: you can go through a centralized exchange, or you can keep it in your wallet and use Spritz. To off-ramp through a centralized exchange, you will have to send the crypto that you want to off-ramp to the exchange and then swap it for fiat currency to send to your bank account.

Some tokens are not available to swap on centralized exchanges, so it’s a good idea to check first if the token you want to off-ramp is available on the exchange. If it isn’t available, you will need to swap it on a decentralized exchange first for a token that is available, like the Ethereum native token or Polygon’s MATIC.

Once you send your crypto to a centralized exchange you can swap it for fiat currency and off-ramp it to your bank account. Some centralized exchanges, like Coinbase, will off-ramp any cryptocurrency that you exchange for fiat all in one transaction as you sell it. Others may require you to swap it for USD first and then send it to your bank.

How to off-ramp crypto with Spritz:

Off-ramping crypto with Spritz is easier and faster than off-ramping through a centralized exchange. Spritz lets you off-ramp any token or cryptocurrency on any of the six blockchain networks that we support: Ethereum, BNB Chain, Avalanche, Arbitrum, Polygon, Tron, Bitcoin, Optimism, and more. That’s thousands of tokens and native coins across some of the most popular blockchain networks in Web3!

To off-ramp crypto on Spritz, just connect your wallet to the Spritz app. Then add your bank account and routing numbers in the off-ramp section of the app, approve the token in your wallet, and send a transaction. That’s it!

One of the biggest benefits to using Spritz is that you limit how many transactions you have to make in order to off-ramp your crypto. That’s less time spent handling your money, and less money you have to pay in fees and taxes overall. Now you can keep your crypto working for you by keeping it in your wallet, and take out only what you need, when you need it.

Cheers!

For reference, here's our fee structure:
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1. Fee Structure: Fees are incurred only during crypto transactions. This includes both crypto-to-fiat and fiat-to-crypto transactions. Good news: there are no fees for using your debit card or maintaining your Spritz account!

• Fees are a combination of a percentage of the transaction amount and a fixed minimum value. This varies based on:
  • The type of token (e.g., USDC, ETH)
  • Blockchain network (e.g., Polygon, Bitcoin)
  • Type of transfer (e.g., card load, bill-pay)
• The actual fee is the greater of:
  • A percentage fee of the transaction amount
  • A set minimum fee

2. Crypto to Fiat Transactions:

• 2.1 USDC Stablecoin on EVM Networks:
  • Base fee: 0.5%.
  • Applies to networks like Ethereum, Polygon, and others.
  • Surcharges for specific transactions and larger volumes are applicable.
• 2.2 Other Tokens and Networks:
  • Fees vary depending on the token and the network used.
  • Different rates for stablecoins and other tokens like BNB, Bitcoin, Dash.
• 2.3 Rapid Pay Option: For transactions over $1,000, an additional 0.5% fee applies.
• 2.4 Minimum Fees: Specific minimum fees apply to different types of transactions (e.g., bank transfer, virtual card load, bill-pay).

3. Fiat to Crypto Transactions:

• A flat 1% fee on all transactions.
• Additional $20 charge for wire transfers.
• For international users, please refer to the 'Fees: Across the Globe' section.

Fees: Across the Globe:

• For those outside North America, Spritz offers a clear fee structure with a 1% flat fee for bank transfers and on-ramp services, and the same virtual card load/top-up fees as in the US and Canada.