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Plain meaning

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Services that allow users to convert between traditional fiat currency (USD, EUR, etc.) and cryptocurrency, and vice versa. On-ramps let you buy crypto with a bank transfer, credit card, or other fiat payment method. Off-ramps let you sell crypto back to fiat and withdraw to a bank account. Centralized exchanges, payment processors like MoonPay and Transak, and some wallets provide on-ramp and off-ramp services, often requiring KYC verification.

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Wallets, signing flows, dApps, and key management concepts.

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On-Ramp / Off-Ramp (on-ramp-off-ramp)
Category: Web3
Definition: Services that allow users to convert between traditional fiat currency (USD, EUR, etc.) and cryptocurrency, and vice versa. On-ramps let you buy crypto with a bank transfer, credit card, or other fiat payment method. Off-ramps let you sell crypto back to fiat and withdraw to a bank account. Centralized exchanges, payment processors like MoonPay and Transak, and some wallets provide on-ramp and off-ramp services, often requiring KYC verification.
Aliases: Fiat On-Ramp, Fiat Off-Ramp
Related: CEX (Centralized Exchange), KYC (Know Your Customer)

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Concept graph

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Branch

CEX (Centralized Exchange)

A traditional cryptocurrency exchange operated by a company that custodies user funds and matches orders on internal systems. Examples: Coinbase, Binance, Kraken. CEXs offer fiat on/off ramps, high liquidity, and familiar UX but require KYC and trust in the operator. Users deposit crypto and trade against the exchange's internal ledger, not directly on-chain.

DEX (General Concept)

Open term

Branch

KYC (Know Your Customer)

Identity verification procedures required by financial regulations that involve confirming a user's real-world identity through government-issued documents, proof of address, and sometimes biometric checks. Centralized exchanges and fiat on-ramp services typically require KYC before allowing trading or withdrawals. Most DeFi protocols on Solana are permissionless and do not require KYC, which is both a feature (accessibility) and a regulatory concern.

Permissionless

Open term

Next concepts to explore

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Web3

CEX (Centralized Exchange)

A traditional cryptocurrency exchange operated by a company that custodies user funds and matches orders on internal systems. Examples: Coinbase, Binance, Kraken. CEXs offer fiat on/off ramps, high liquidity, and familiar UX but require KYC and trust in the operator. Users deposit crypto and trade against the exchange's internal ledger, not directly on-chain.

Open term

Web3

KYC (Know Your Customer)

Identity verification procedures required by financial regulations that involve confirming a user's real-world identity through government-issued documents, proof of address, and sometimes biometric checks. Centralized exchanges and fiat on-ramp services typically require KYC before allowing trading or withdrawals. Most DeFi protocols on Solana are permissionless and do not require KYC, which is both a feature (accessibility) and a regulatory concern.

Open term

Web3

OPOS

Acronym for 'Only Possible on Solana.' A community phrase highlighting features or applications that cannot be replicated on other chains due to their technical limitations. Used to describe high-frequency DeFi applications, massive concurrent NFT drops, sub-second settlement, and other use cases that leverage Solana's unique throughput and low fees.

Open term

Web3

On-Chain vs Off-Chain

On-chain: data or logic stored and executed directly on the blockchain, providing maximum transparency and immutability but at higher cost. Off-chain: data stored externally (IPFS, Arweave, databases) with only a reference (hash or URI) stored on-chain. The choice depends on cost, size, and trust requirements. NFT images are off-chain; token balances are on-chain.

Open term

Commonly confused with

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Web3on-chain-off-chain

On-Chain vs Off-Chain

On-chain: data or logic stored and executed directly on the blockchain, providing maximum transparency and immutability but at higher cost. Off-chain: data stored externally (IPFS, Arweave, databases) with only a reference (hash or URI) stored on-chain. The choice depends on cost, size, and trust requirements. NFT images are off-chain; token balances are on-chain.

Open term

Related terms

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Web3cex

CEX (Centralized Exchange)

A traditional cryptocurrency exchange operated by a company that custodies user funds and matches orders on internal systems. Examples: Coinbase, Binance, Kraken. CEXs offer fiat on/off ramps, high liquidity, and familiar UX but require KYC and trust in the operator. Users deposit crypto and trade against the exchange's internal ledger, not directly on-chain.

Open term

Web3kyc

KYC (Know Your Customer)

Identity verification procedures required by financial regulations that involve confirming a user's real-world identity through government-issued documents, proof of address, and sometimes biometric checks. Centralized exchanges and fiat on-ramp services typically require KYC before allowing trading or withdrawals. Most DeFi protocols on Solana are permissionless and do not require KYC, which is both a feature (accessibility) and a regulatory concern.

Open term

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Web3

The vision of a decentralized internet built on blockchain technology, where users own their data, identity, and digital assets. Web1 was read-only (static pages), Web2 is read-write (platforms like social media), Web3 is read-write-own (permissionless, user-sovereign). Web3 applications use wallets instead of logins and smart contracts instead of centralized servers.

Open term

Web3

dApp (Decentralized Application)

An application with its backend logic running on a blockchain as smart contracts rather than centralized servers. dApps typically have a traditional web frontend that interacts with on-chain programs via RPC. Users authenticate with wallets instead of username/password. Examples: Uniswap (Ethereum DEX), Jupiter (Solana DEX), Magic Eden (NFT marketplace).

Open term

Web3

Wallet

Software or hardware that manages cryptographic keys and enables users to sign transactions, view balances, and interact with dApps. Hot wallets (Phantom, Solflare, Backpack) are internet-connected for convenience. Cold wallets (Ledger, Trezor) store keys offline for security. Wallets don't actually 'hold' tokens—they hold the private keys that control on-chain accounts.

Open term

Web3

Seed Phrase (Mnemonic)

A 12 or 24-word human-readable backup of a wallet's master private key, generated using BIP-39 standard. The seed phrase can deterministically regenerate all derived keypairs (BIP-44 derivation paths). Losing the seed phrase means permanently losing access to all associated accounts. Never share, photograph, or store seed phrases digitally in plain text.

Open term