{"id":554180,"date":"2023-02-20T14:10:30","date_gmt":"2023-02-20T11:10:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-transaction-success-rate-hinges-on-user-location-report\/"},"modified":"2023-02-20T14:10:30","modified_gmt":"2023-02-20T11:10:30","slug":"crypto-transaction-success-rate-hinges-on-user-location-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-transaction-success-rate-hinges-on-user-location-report\/","title":{"rendered":"# Crypto transaction success rate hinges on user location: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23e6bb7b406\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23e6bb7b406\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-transaction-success-rate-hinges-on-user-location-report\/#%E2%80%9D_Crypto_transaction_success_rate_hinges_on_user_location_Report_%E2%80%9C\" >&#8221; Crypto transaction success rate hinges on user location: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_transaction_success_rate_hinges_on_user_location_Report_%E2%80%9C\"><\/span>&#8221; Crypto transaction success rate hinges on user location: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>The crypto community is continually looking for ways to bridge the gap between traditional finance (TradFi) and fiat currencies with decentralized financial (DeFi) tools. Crypto onramp platforms are a primary way users are able to cross between these two financial ecosystems.\u00a0<\/p>\n<p>However, a new report from Cointelegraph Research and Onramper, a crypto-based financial services provider, revealed that 50% of fiat-crypto transactions fail, even after KYC completion.<\/p>\n<p>Moreover, due to difficulties in the transaction process, transaction abandonment during the purchase flow can be as high as 90%. <\/p>\n<p>The survey looked at 9 of the largest fiat-crypto onramps including Coinify, Moonpay, Transak and Wyre, among others.\u00a0<\/p>\n<p>According to the data, the performance of various onramps widely differs, though one of the main factors includes user location. Europe had the highest success rates in transactions, while the lowest are found in Africa and South America.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/503fe981-63cd-4aa8-9382-6c015625ab37.png\"><figcaption style=\"text-align: center;\"><em>Transaction authorization rates by region. Source: Cointelegraph Research<\/em><\/figcaption><\/figure>\n<p>Other factors that affected transactions on crypto onramps include payment methods, types of fiat-crypto being used and available trading pairs. Bank transfers as a payment method were proven as superior in terms of success rates in transactions, achieving 100% or nearly success in two instances.<\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>Credit cards can bridge Web2 to Web3, says music industry exec<\/em><\/strong><\/p>\n<p>Additionally, transaction value was a major indicator of success with smaller transactions worth $0-26 achieving a 66% authorization rate, compared to transactions with values more than $5000, which typically have an authorization rate of 19%. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/13bfd65c-37ba-4f85-a341-eb57e1cc61a9.png\"><figcaption style=\"text-align: center;\"><em>Transaction authorization rates by value of transaction. Source: Cointelegraph Research<\/em><\/figcaption><\/figure>\n<p>The research concluded that potential solutions to transaction authorization issues could be for token service providers to offer as wide a range as possible of aggregated onramps in a single interface. As well as dynamically routing transactions to give users the best option for their specific situations.<\/p>\n<p>Recently, at the Davos World Economic Forum, Tether chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Paolo Ardoino called the platform\u2019s stablecoin Tether (USDT) an onramp for Bitcoin (BTC).\u00a0<\/p>\n<p>The Hong Kong Monetary Authority also called its upcoming retail CBDC as a potential onramp into the DeFi space. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-transaction-success-rate-hinges-on-user-location-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto transaction success rate hinges on user location: Report &#8220; The crypto community is continually looking for ways to bridge the gap between traditional finance (TradFi) and fiat currencies with decentralized financial (DeFi) tools. Crypto onramp platforms are a primary way users are able to cross between these two financial ecosystems.\u00a0 However, a new&#8230;<\/p>\n","protected":false},"author":1,"featured_media":554181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/25f70646-0221-40b4-aac3-92166d2a608d.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74868,75582,74355,61514],"class_list":["post-554180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-defi","tag-fiat-money","tag-adoption","tag-research"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=554180"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/554181"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=554180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=554180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=554180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}