The Onramper Round-Up: Data-Edition
This month, we focused on Onramper’s recommendation engine—exploring how end users interact with it and the outcomes that emerge in different scenarios.
Onramper’s Recommendation Engine:
Onramp aggregation is not about making sure you have all the ramp providers… It’s about making sure the right ramp is used for each individual user.
That’s why our recommendation engine finds the best onramp for any user, as well as the best payment method. This engine ‘ranks’ payment-method-onramp combinations on many factors, including APM popularity and conversion, pricing, onramp conversion rates, whether the user has used an onramp before, quoted price (taking into account ‘hidden fees’) and KYC levels.
Currently, across all our clients—wallets, exchanges, dApps, and more—over 80% of users choose to follow our recommendations.
Impact on Authorization Rates
Following Onramper’s recommendations affects authorization rates. For Onramper, "authorization rate" is defined as the percentage of users who submit a payment and have it accepted. This definition is consistently applied across all our onramp and offramp partners to ensure accurate comparisons.
Currently, across all our clients, we see that following Onramper’s recommendations positively impacts authorization rates. With authorization rates up to 27% higher when users follow our recommendations compared to those who choose not to:
Impact on end-to-end conversion rates:
Most importantly, onboarding success rates improve when we the right on-ramp is served to the user. On average, success rates increase by more than triple for users that follow Onramper’s recommendations:
*These success rates reflect Onramper’s performance across all countries where we’re live. Completion rates, however, vary significantly by region, with some countries achieving over 90% end-to-end completion rates, while others see rates below 15%. In the US and EU, over 50% is achievable with the right combination of onramps and routing.
On average, the conversion rate is an impressive 3x higher when users are funneled to the right ramp provider. This improvement becomes even more striking when focusing on specific regions like Latin America and Southeast Asia, where Onramper achieves exceptional performance thanks to the strong adoption of Alternative Payment Methods (APMs).
Returning User Routing
Returning users drive 60-70% of transactions for most clients. Using cookies, wallet addresses, and other identifiers, Onramper efficiently directs these users to their previously used onramp.
KYC remains a key challenge that causes users to ‘drop-out’ of the flow. It’s no surprise that returning user routing, when available, delivers the highest success rates. For context, Onramper’s global average end-to-end success rate across all clients was in the low 30%. Here’s how returning user routing compares:
Impact of Onramper’s returning-user routing on end-to-end conversion rates:
When users opt not to use their previously selected onramp, the average success rate is just ~6%. In contrast, those who follow our recommendations achieve an average success rate of ~72% - an impressive 11x improvement!
Even when comparing to the performance of our Recommendation Engine for new users, returning-user-routing performs more than 2x higher!
In Summary
In summary, it is crucial to not just give users a list of ramp providers, but actively nudge users to use the best ramp provider for their specific transaction. Smart onramp recommendations can drastically increase conversion: for new users by about 3-4x and for returning users about 11x.
Adding better ramps for better routing options: our Yellow Card integration is here.
Unlock 200 million potential users in Nigera and more
In order to make smart ramp recommendations, you need the right ramps. That's why we are proud to have partnered up with Yellow Card, to improve crypto onramping across Africa.
Nigeria's unique position in the global crypto landscape is driven by a combination of economic opportunities and innovative payment solutions. As more people look to crypto for remittances, savings, and everyday transactions, the demand for accessible platforms has skyrocketed.
With our Yellow Card integration, our clients can now:
🇳🇬 Did you know? Nigeria ranks #2 globally in crypto adoption, according to the latest Chainalysis Crypto Adoption Index! With a population of over 200 million and a thriving tech-savvy community, Nigeria is at the forefront of the global crypto movement.
Onramper partners with Crypto's leading accelerator & founder network
This month, we teamed up with Alliance Accelerator to offer best-in-class crypto onramping to their cohorts. As the leading crypto accelerator, the median Alliance startup raises $3.5M at a $25M post-money valuation. Investors often include top VCs like Paradigm, Multicoin and Dragonfly. Special offer: Startups participating in the Alliance Accelerator program will receive a 50% discount on Onramper services.
And finally, a big thanks to our new clients
Coinomi The blockchain wallet trusted by millions.
rhino.fi Seamless cross-chain bridging.
Probo India's biggest Prediction Market
Bitunix The best professional crypto derivative exchange platform.
PlugWallet The leading ICP wallet.