WeChange on Why Crypto On-Ramps Still Lose Users at the First Transfer
WeChange is building a noncustodial on-ramp using local bank transfers to reduce friction and user drop-off during the first crypto purchase.Summary
WeChange aims to solve the high user drop-off rate during initial crypto purchases caused by KYC friction, hidden fees, custodial handoffs, and delays. Their solution is a noncustodial on-ramp built around local bank transfer rails like SEPA, ACH, PIX, and SPEI, covering over 190 countries with fees starting at 2.5%.
They emphasize that non-custodial infrastructure is crucial because custody introduces regulatory risk and contradicts the core crypto value of ownership. Utilizing local payment rails ensures users start the process in a familiar context (their own bank and currency), which significantly reduces friction compared to forcing users through single corridors or card networks.
WeChange prioritizes transparency by showing all fees and mechanics upfront and confirming that assets go directly to the user's controlled wallet. While card support is planned for 2026, the current focus on bank transfers offers structurally cheaper processing than typical 3.5% to 6% card fees. The ultimate goal is to make the entire process feel as simple as a standard bank transfer.
(Source：BeInCrypto)