Topic: Why Is Sending Fiat and Receiving Crypto Still Such a Headache in 2024? - page 2. (Read 233 times)

From what I understand, you want to make a platform/ site/ app where I, as a customer, can buy crypto with fiat (any kind and any amount?) without the commissions that all CEX exchanges impose. Then how will the middleman be cut out since it will be you? Unless you make a P2P network, but there again the prices will be high and it takes time to execute the trade or find a "trusted" trader. So which of the two will it be?

Have you ever had someone who didn't have crypto who wanted to pay you and you wish they could pay you in crypto?

If you don't have any crypto to start with, then it's obvious that you will have to purchase it. If your on/off ramp is a centralized exchange, you will pay a premium on top in the form of trading and withdrawal fees. That's how they make money. The most simple way of sending someone bitcoin is, of course, P2P with no middlemen involved. Find someone who is selling at market rates (if possible), give them the cash, and have them send the coins to any address you want.

Exchanges operate a business after all. They want to make money from their business and you are the source of that profit.

I recently had a frustrating experience that I’m sure many of you here can relate to.

A friend owed me money for a project, and they were happy to pay me in fiat while I wanted to receive it in crypto. Simple enough request, right? But what followed was a tangled mess of currency conversion fees, delays, and hoops to jump through.

Banks didn’t make it easy, payment platforms added their cut, and by the time I finally received the crypto, it felt like half the value had evaporated in fees and wasted time. And I couldn’t stop wondering: Why is this still so complicated?

We’ve come so far in the crypto space—layer 2s, lightning networks, cross-chain swaps. Yet, when it comes to bridging the gap between fiat and crypto, the process still feels stuck in the past. Shouldn’t there be a solution that makes this seamless for freelancers, small businesses, or anyone working globally?

This is something I’ve been obsessed with recently, and I’ve even been working on a project called Normie Tech that aims to solve this exact problem. Our idea is simple: customers pay in fiat; merchants receive crypto. No headaches, no middlemen draining your funds.And we are getting pretty good traction with it.

But here’s the thing—I don’t want to pitch you. I want to hear from you.

Have you struggled with this problem too?
What’s your worst fiat-to-crypto story?
What would the ideal solution look like to you?

If this resonates with you, let’s talk about it. The crypto community has always been about solving real problems, and this is one I think we need to fix sooner rather than later.

Let’s brainstorm. ✍️