Cheapest way to offramp
You have made your profit on Defi, or meme trading, and now it’s time to move some of your crypto to the real world. To onramp is straightforward, so there is usually no fee to get you onboard.
But to offramp (to move money back to bank), there is usually a cost, and largely the FX (foreign exchange) loss.
There are many ways to do, but I find Coinbase to be the cheapest.
Their FX is at a 0.25% spread with no additional withdrawal fee.
For example, I can swap USDC to SGD (Singapore Dollars) with just the 0.25% loss. A $1,000 offramp will be $4 FX loss, and nothing else.
Other Ways
As of writing, Coinbase is the cheapest for the particular amount and currency that I was trying to offramp.
But things can change, so you will want to compare the following:
- Defi such as Uniswap
- Cefi such as Crypto.com, Binance
- Offramp provider such as StraitsX
