Folks typically onboard to web3 by using a centralized exchange (CEX) like Binance or Coinbase, given the wide range of available assets and the simple, in-app connected fiat on-ramp experience. This onboarding process certainly has its downfalls, too.
Once you receive your fiat to the exchange, you need to trade to your desired asset (fees + slippage), wait multiple days (sometimes 5+!), and then you can withdraw assets (and pay more fees!?), just to fund your non-custodial or hardware wallet. Then, finally, you are able to interact with DeFi and web3. Starting to sound clunky? If you rent your apartment or house, which someone else pays the mortgage on, this might resonate with you.
Kado is building solutions to help users realize the ownership of decentralization — we understand and embrace the need for a user to fully own their web3 journey, their assets, the interactions, and the experience. No longer are the days of needing a CEX to enter/exit crypto. With Kado, you can now easily move between web2 and web3, directly from your wallet.
Kado meets you where you are: at your final web3 destination. We don’t want our users to spend up to 5 days to get there. We have two core objectives — to be the fastest time-to-wallet and most seamless, global gateway — from fiat and crypto.
Not only is onboarding through a CEX a slow, fee-filled experience, there are also countless risks giving over control of your assets. In our recent article Why Self-Custody Matters, we took a deep dive into the risks of dealing with Centralized Exchanges and the importance of non-custodial and hardware solutions.
Kado is built for this web3 native self-custodied future.
Entering crypto should be easy, and it shouldn’t break the bank…
We don’t manage your money, you do. We don’t halt withdrawals, because we don’t hold your assets. Kado empowers fiat-to-wallet transactions. We don’t have the power to keep your money, and we don’t want to. We believe that self-custody is the future, and we’re here to enable your financial freedom.
When you buy and sell crypto on a CEX, a spread is the difference between the current price of an asset and the price you buy/sell that same asset. They profit the difference. CEXs act like foreign currency exchange desks and airport ATMs. There is simply no better option to exchange than the place you land. Knowing this, the exchange rate for fiat is severely inflated and users get price gauged. CEXs do the same. Even some on-ramps will catch you slipping and sell you 1 USDC for >$1.10.
With any new industry, barriers to entry are high, understanding is low, and user experience is sacrificed. In the past, there was no better option. Now, Kado allows your funds to go directly to the asset you wish to obtain, at the correct price.
Kado offers significantly lower fees than other platforms. Move from your bank to your self-custody wallet for as low as $2 for ACH bank transfers. When moving on and off centralized exchanges, there are many more steps and fees. Not to mention trading to the end asset you desire…
Once you enter DeFi, what about getting out? Many fiat on-ramps in the space today are just that — an ON-ramp. This means most crypto-native users are still off-ramping through a CEX. All of the issues you faced ramping into crypto on a CEX also exist when you ramp out. Off-ramp with Kado and move your assets directly from your web3 wallet to your bank account within minutes.
Right now you can register for Kado and travel into and out of web3 when you see fit. Soon you’ll be able to ramp your fiat into a number of assets and ecosystems including USDC, USDT, ETH, SOL, AVAX, and more.
