With cryptocurrency adoption on the rise, buying crypto (onramping) has become easier over time. However, it’s not so easy cashing out (offramping). SubWallet, a leading multi-chain wallet, has stepped up to solve this with its new Crypto-to-Fiat offramping feature. Now, users can easily convert their crypto assets into fiat currencies. 

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What is SubWallet?

SubWallet is a multi-chain wallet designed for users in the Polkadot, Kusama, and Ethereum ecosystems. It allows people to manage their crypto assets, interact with decentralized applications (dApps), stake tokens, and engage in blockchain governance. With its user-friendly interface and extensive network support, SubWallet simplifies complex blockchain tasks for users of all levels. It’s available as a browser extension, a mobile app, and a web dashboard, making it accessible wherever users prefer to manage their digital assets.

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Onramping vs Offramping

‍In crypto, two terms often come up: onramping and offramping.

• Onramping is when a user converts fiat currency (like USD, EUR, or PHP) into cryptocurrency. For example, buying Bitcoin with a credit card is an onramp process. This step is essential for users who want to enter the crypto space.
• Offramping is the opposite—it allows users to convert cryptocurrency back into fiat money. For instance, exchanging Ethereum (ETH) for USD and withdrawing it to a bank account is an offramp process. Offramping is crucial for users who may want to withdraw some of their crypto earnings and spend it. 

While onramps have received a lot of attention because they help people join the crypto ecosystem, offramps are equally important. Without an easy way to cash out, using crypto in real life becomes difficult.

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SubWallet's New Offramping Feature: Crypto to Fiat

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Recently, SubWallet has made cashing out crypto simpler and more accessible with its new Crypto-to-Fiat offramping feature. This feature allows users to easily convert 23 popular tokens, including DOT, ETH, GLMR, and KSM, into fiat currencies.

The process is powered by Transak, a trusted payment infrastructure provider for crypto-to-fiat services. With this integration, SubWallet users can convert their tokens and withdraw funds through multiple payment methods such as 

• VISA and Mastercard: Quick and direct transactions using debit or credit cards.
• SEPA Bank Transfer: For users in Europe, SEPA transfers provide an easy way to receive funds in Euros.
• Faster Payments: A fast, reliable method for bank transfers, particularly in the UK.

Currently, this feature is available on SubWallet's web dashboard, with support for the browser extension and mobile app coming soon.

To use the new offramping feature, users simply need to:

1. Visit the SubWallet web dashboard at web.subwallet.app.
2. Select the tokens they want to cash out.
3. Choose their preferred fiat currency and payment method.
4. Follow the simple steps to complete the transaction.

With just a few clicks, users can turn their crypto into real-world cash making it perfect for treating oneself during the holiday season or covering everyday expenses.

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Why Does This Matter?

‍The launch of SubWallet's Crypto-to-Fiat offramping feature is a game-changer for crypto users, especially in the Polkadot and Kusama ecosystems. Here’s why this matters:

1. Easier Access to Funds
   Offramping removes a major barrier for crypto users: the difficulty of turning tokens into cash. Whether a user is cashing out small savings or larger holdings, SubWallet’s feature provides a smooth and secure process.
2. Real-World Utility
   By enabling users to convert crypto into fiat, SubWallet bridges the gap between digital assets and real-world spending. Users can easily use their crypto earnings for their daily expenses. This makes crypto more practical for daily life, whether for paying bills, buying gifts, or even investing in other assets. 
3. Streamlined Experience
   Traditionally, cashing out crypto can involve multiple platforms and steps, which can be frustrating and time-consuming. SubWallet’s integration with Transak brings everything into one place, offering users a simple, reliable way to manage their assets.
4. Adoption and Inclusion
   Some people are discouraged from entering crypto due to thinking that there is a lack of liquidity and demand for the asset. Simple offramp solutions encourage more people to explore cryptocurrencies, knowing they can easily cash out when needed. 

SubWallet’s new Crypto-to-Fiat offramping feature marks a major step forward in making crypto more user-friendly and practical. With support for 23 tokens, multiple payment options like VISA, Mastercard, and SEPA, and a seamless user experience, SubWallet empowers users to explore blockchain and make the most of Web3!

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