Lemon, the cryptocurrency platform with a user base exceeding 2 million in Latin America, has established a partnership with OnRamper, a platform acting as an aggregator of conversion services between fiat currencies and cryptocurrencies. This collaboration allows users from 5 Latin American countries to purchase cryptocurrencies using their local currency, specifically Mexico, Colombia, Peru, Uruguay, and Ecuador.
The main advantage lies in the flexibility of payment options offered, as users can choose to use debit cards, credit cards, or bank deposits, depending on the conversion platform they choose. However, it is crucial to note that, for now, the functionality to sell cryptocurrencies and convert them to local currency through this platform has not been enabled.
We usually think that delving into the world of cryptocurrencies requires considerable technical knowledge, and until recently, this was true. Even now, many crypto applications maintain a high entry barrier regarding the technical skills required to invest and navigate Web3. Hence, the integration of OnRamper is a strategic step for Lemon in its effort to make cryptocurrencies more accessible in people’s everyday lives.
The latter implies users can make investments and participate in the Web3 environment using familiar payment methods, such as credit cards and bank transfers. Moreover, once users have acquired assets in the Lemon app, they can generate cryptocurrency income weekly through a service called “Lemon Earn”.
The available assets include cryptocurrencies with significant market capitalization, such as Bitcoin, Ethereum, and stablecoins pegged to the dollar value, like USDT and USDC, used to facilitate efficient storage and global value exchange.
It is worth remembering that between July 2021 and June 2022, there has been a 40% increase in cryptocurrency investments in Latin America reaching an amount of USD $562 billion dollars, according to the Latin American and Caribbean Economic System (SELA). This fact confirms that for companies venturing into the cryptocurrency market, it is essential to have more and more tools that simplify processes, just as Lemon seeks to do with this collaboration with OnRamper.
How to use OnRamper on Lemon?
OnRamper is a platform that allows purchasing cryptocurrencies with fiat currencies worldwide. Being a ramp aggregator, it lets users compare all available operation options and varying options and methods according to each country.
The process of purchasing cryptocurrencies with local currency via OnRamper from the Lemon app is straightforward. Users can choose the cryptocurrency they want to buy, select a payment method, and then explore the available conversion ramps in their country to carry out the transaction. Crediting assets to the Lemon account can take up to 3 business days, depending on the provider and the selected payment method. To use this tool, follow the next steps:
- On the home of the Lemon app, click on “Buy”
- Read and accept the Terms and Conditions.
- Choose the crypto you want to buy.
- Once you have chosen the crypto and the payment method, you will see the available ramps in your country for that operation.
- Once you complete the operation, you will receive your crypto in your Lemon account.
In addition to this integration, Lemon has expanded its services to meet the needs of professionals working abroad. Lemon allows users to automatically convert dollars from abroad into the stable cryptocurrency $USDC, without resorting to external platforms to perform this conversion. This approach simplifies the use of such assets within Lemon’s ecosystem, eliminating complications related to currency conversion.