Crypto transaction success rate
According to a recent report by Cointelegraph Research and Onramper, fiat-crypto transactions experience a 50% failure rate, influenced by multiple factors, including user location.
The comprehensive research delved into the performance of various fiat-crypto onramps, examining nine prominent platforms such as Coinify, MoonPay, Transak, and Wyre, among others. The study unveiled significant variations in success rates across different regions, with Europe leading the pack with the highest success rates, while Africa and South America lagged behind with the lowest rates.
Other factors that affected transactions on crypto onramps include payment methods, the fiat used to to convert to crypto and available trading pairs. Bank transfers as a payment method were proven superior in transaction success rates, achieving close to 100% success in two instances.
Furthermore, the research highlighted the role of transaction value in the overall authorization rate. Smaller transactions, typically falling within the $0-$26 range, exhibited a commendable 66% authorization rate. In contrast, larger transactions, valued above $5,000, experienced a notably lower authorization rate of 19%.
Potential solutions for transaction authorization would be for token service providers to offer as wide a range as possible of aggregated onramps in a single interface. Another option is dynamically routing transactions to provide users with the best option for their situations.
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