Quick guide: How to on-ramp and off-ramp popular cryptocurrency CEX platforms

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Binance.com has recently announced that it no longer offers Singapore users fiat deposit services, spot trading of cryptocurrencies, the purchase of cryptocurrencies through fiat channels and liquid swap (“Regulated Payments Services”). This has caused quite a frenzy for local users to off-ramp their assets on Binance to fiat or to some of these other crypto platforms like Gemini and FTX. Earlier on I have written a post on Thinking backwards. Before you on-ramp your money to any platform, it is wise to also consider the options available for off-ramping.


Photo by Executium on Unsplash

Other important considerations when choosing the suitable CEX platforms for your crypto investments would be the security features, ease of use, list of supported cryptos, trading fees and their interest rates / "earn" programmes.

Below is a comparison table for fiat on-ramp and off-ramp to some platforms I have used. Do use my referral here if you are interested to sign up for any of them.




I believe all CEX accepts cryptocurrency deposits for free, but most would charge fees for withdrawals (fiat or crypto). 

The fees would differ between each cryptocurrency. The most expensive would likely be withdrawal of ERC-20 tokens via the Ethereum network due to its usual high gas fee.


Here are the withdrawal fees info links for reference:

https://www.binance.sg/en/fees
https://help.blockfolio.com/hc/en-us/articles/1260801656210-FTX-App-Trading-Withdrawals
https://blockfi.com/fees/
https://crypto.com/exchange/document/fees-limits

I will be updating the summary table from time to time and indicate the date that I update it.

You may be interested to my related post on
Short review of Gemini Exchange

Tidbits: Defi on-ramp and off-ramp

If you want to on-ramp currency to Defi from CEX, you will first need to own a crypto wallet e.g Ledger, Metamask, Keplr, Phantom. Some economical options (free to transfer) for your crypto assets are Gemini, FTX (for non-Ethereum networks), Celsius and Crypto.com . 


Off-ramping from Defi back to CEX would only incur gas fees from the networks that you are using. 

Layer 2 (L2) and non-Ethereum Layer 1 (L1) are the more economical choices, whether it's for transfer or on-chain activities. Always remember to do a quick calculation on what percentage of your assets would be "eaten up" by gas / withdrawal fees before moving them. Weigh your risk / reward.

Polygon to Avalanche via Synapse bridge 


For most L2s, you will have to off-ramp via the Ethereum network (L2-->bridge back to Ethereum --> CEX). Exception to Polygon, which you can withdraw MATIC and USDC directly back to Crypto.com for negligible gas fees.

Many of the other L1s, eg. Avalanche, do not have direct connection with CEX. Exception would be for Solana to FTX, and Cosmos to Crypto.com. As such, you will have to off-ramp by bridging back to Ethereum or other L1s so that you can transfer as ERC-20 tokens back to CEX.


Of course, things may change in future as the landscape evolves. Perhaps Cosmos or Polkadot hubs would come up with CEX collaborations next time for easier fiat off-ramp. Perhaps there are other avenues out there that I am not aware of.

If you have any insights to share, do leave your comments below.

Earn interest on your cryptocurrencies on Celsius and get $50 free in BTC!

Simply enter my referral code <197972828c> when creating your wallet and deposit $400 or more worth of crypto at the time of signup. 


You can also stack Stablecoin promo codes <stable10> <stable50> <stable600> to earn more BTC rewards on top of the sign up bonus! Read about how to stack the promo codes here.

Furthermore, Celsius is now offering stablecoins interest at 10.02% APY (GUSD, USDC, USDT, TUSD, BUSD).

For information on how to apply the referral and T&C, pls read How do referral codes work?



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