Fiat On/Off Ramping & Y5.

Updated: Jun 9

What is Fiat On & Off Ramping?

In order to own cryptocurrency assets, you must first purchase them with some of your hard-earned, real-world money. Whatever your native currency, swapping it for any cryptocurrency can be a daunting process. Choosing a provider to swap your fiat is not straightforward, with every platform offering different rates, service charges and levels of security.

Fiat On ramping is the process of swapping fiat (government-issued currency) for cryptocurrency assets. Off ramping is the opposite; swapping cryptocurrency assets back into fiat.

Y-5’s On and Off Ramping experience

As part of the Y-5 revenue-generating utilities, Bradley and Stew have secured a partnership with a provider that will allow the exchange of fiat currencies such as USD and GBP for Y-5 Trader Token or any of the soon to be released Y5 Stablecoins, as well as, other blue-chip stock like Bitcoin and Ethereum. This is a huge development and one that is vital to our ecosystem.

Using the Y-5 Centralized exchange for your fiat on and off ramping will be affordable, fast, secure and seamless. To do so, you will have to complete the KYC (know your customer) self-identification process. This is to protect against fraud and ensure that the bank account that you are using to change fiat to crypto does actually belong to you. Thereafter, simply input the amount of fiat you want to swap, which asset you want to swap your fiat for, agree to the service charge, submit the order and the transaction shall be completed as quickly as possible.

A bonus for Y-5 Wealth Token Holders

There will be a small charge for the use of the on and off-ramps, the profit from which will be sent to the Y-5 Wealth Token (Y5WT) via Buyback and Burn. In short, this means that the service charge from the on / off ramp transaction will be collected in a wallet, and once a predetermined threshold is met, it will swap the fiat for Y5WT (increasing the Y5WT price, providing volume and BUSD rewards to holders) and then burn those tokens forever (providing more volume and BUSD rewards as well as removing those tokens out of circulation which will raise the Y5WT Market Cap).

This process shows the dedication of the Core Team at Y-5 Finance. They are not taking a cut from any profits. All profits from all utilities will go to the Y-5 Wealth Token, speeding up the hyper-deflationary nature of the project and making a better return on investment for the investors.

We are currently awaiting the finalization of Fiat On / Off Ramping coding before the Y-5 Centralized Exchange goes live. Once live, it will provide two additional utilities simultaneously that will have positive impacts on both Trader Token and Wealth Token. Those holding both Y5WT and Y5TT will realize the best gains.

Still unsure?

If you have any questions about anything raised in this article, please contact our moderation team in the Y-5 Finance Telegram or Discord Communities. Links can be found on the Socials page on our website. We know that, unlike the stock market, crypto never sleeps, and we have knowledgeable individuals and investors like yourself who are available 24 hours a day, 7 days a week.

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