How to convert fiat to crypto and start trading

Buying crypto to fund your Deriv cryptocurrency account is now more streamlined, with clear steps from conversion to deposit. This practical, wallet-ready guide walks you through every stage: from converting your fiat currency to crypto via onramp services, to logging in, funding your account, and getting your account ready for trading.

Quick summary

• Deriv’s fiat onramp services provide a structured and compliant way to convert local currency into cryptocurrency directly within the Deriv ecosystem.
• Funding a Deriv cryptocurrency account can be completed within minutes, depending on provider and blockchain conditions, giving traders timely access to their account balance.
• Deriv works with regulated fiat-onramp providers, each offering different verification flows and regional coverage depending on your location
• Built‑in verification, transparent conversion rates, and regulated partners support secure and traceable transactions throughout the process.
• Integrated onramps improve account management efficiency by reducing external transfers and consolidating funding steps in one platform.

Why do you need crypto in your Deriv account?

Cryptocurrency markets move quickly, and opportunities can appear at any time. To make sure you can respond promptly to market changes, you need crypto funds available in your Deriv cryptocurrency account. Whether you’re new to trading or an experienced investor, understanding how to buy and deposit crypto efficiently helps you manage your account more effectively.

A Deriv cryptocurrency account works as your digital wallet. It allows you to deposit, trade, and withdraw using digital currencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). Having funds in your crypto account means you can start trading without waiting for traditional bank processing times.

Additionally, maintaining crypto in your account gives you flexibility to respond to sudden price changes. For instance, when Bitcoin or Ethereum experiences rapid movement, you’ll be ready to open positions without administrative delays.

What is a fiat onramp, and why does it matter?

A fiat onramp is a service that allows you to convert your local currency (GBP, EUR, USD, etc.) into cryptocurrency directly through Deriv’s trading platform. It eliminates the need for third-party exchanges or separate wallets, making your first crypto purchase more direct, with clear steps and built‑in security protocols.

Here’s how it supports your transactions:

• Speed: Buy crypto in minutes, depending on provider and blockchain conditions.
• Security: All partners comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
• Convenience: No need for external wallets or additional platforms.

Aggelos Armenatzoglou, Senior Manager of Dealing Team at Deriv, elaborates:

“Fast access to crypto markets depends on efficient fiat-to-crypto gateways. A smooth onramp reduces friction and helps traders capture opportunities in volatile markets.”

Deriv works with regulated fiat-onramp providers, each offering different verification flows and regional coverage depending on your location.

Fiat onramps also provide transparency by showing conversion rates before you confirm a transaction. This helps you plan and manage your funds with greater clarity.

How do fiat onramps compare to traditional crypto exchanges?

Traditional cryptocurrency exchanges and fiat onramps both enable users to purchase digital currencies, but they differ in structure, process, and the number of steps involved. Understanding these differences can help you decide which approach fits your situation without suggesting that one method performs better than the other.

When using a traditional exchange, users typically create a separate account, complete an onboarding procedure, and set up an external cryptocurrency wallet. Most exchanges require several verification stages, and funding the exchange account may involve additional bank transfers or payment approvals. Once the cryptocurrency is purchased, users often need to transfer it manually to their preferred trading platform, which introduces extra steps and additional confirmation times.

“Different funding paths serve different user preferences. Traditional exchanges offer broader asset management options, while onramp services are designed to reduce the number of platforms involved in completing a purchase.” — Seeyan Padinjaraveettil, Marketing Tech Lead at Deriv

Fiat onramps operate in a more integrated way. Instead of managing separate platforms, users can convert local currency into cryptocurrency directly through Deriv’s partner services. The purchase and deposit occur within a single workflow, and the cryptocurrency is sent to the user’s Deriv account once the transaction is confirmed. This reduces the number of external transfers required and keeps the process contained within one ecosystem.

Both methods follow regulatory and security requirements, and the choice ultimately depends on factors such as preferred payment methods, regional availability, and whether the user already has an external crypto wallet they wish to use.

What should you prepare before using a fiat onramp?

Before starting a fiat-onramp transaction, it can be helpful to prepare the information and documents you may need during the process. Most providers require personal details such as your full name, date of birth, and country of residence to meet regulatory obligations. 

Some may request a government-issued ID and, in certain cases, proof of address, depending on regional requirements. Ensuring these documents are valid and consistent with your Deriv account details can reduce the likelihood of verification delays. 

Preparing your preferred payment method in advance, such as a bank card or supported digital payment service, can also make the process smoother when you begin your transaction.

How can you buy crypto and fund your Deriv account?

Follow these steps to fund your Deriv cryptocurrency account:

1. Log in to your Deriv account

Visit app.deriv.com and switch to your cryptocurrency account.

2. Open the Cashier section

Select Cashier from the left-hand menu.

3. Select Fiat onramp

Choose Fiat onramp from the deposit options.

4. Pick your preferred provider

Select your available fiat-onramp provider and follow the prompts based on your region and payment method.

5. Follow the provider’s instructions

Complete verification and payment on the provider’s secure page.

6. Complete your transaction

After payment, you’ll return to Deriv automatically. Your crypto will appear in your account once the deposit is confirmed.

Available fiat-onramp options may differ by region. Each provider offers its own verification steps, payment methods, and processing times. Users can select the option that aligns with their location and preferred payment method.

What should you watch out for when using fiat onramps?

Although fiat onramps streamline the crypto-purchase process, keep the following considerations in mind:

• Verification requirements: You may need to upload identification documents for compliance.
• Transaction fees: Providers have their own service fees and conversion charges.
• Network delays: Blockchain congestion can influence processing times.
• Currency support: Availability varies by region and provider.
• Purchase limits: Minimum/maximum amounts differ across services.

Aleksandr Antonkin, Deriv Senior Manager of Specialised Dealer, reminds:

“Always double-check transaction limits and processing times. Network congestion can extend settlement windows during high-volume periods.”

Additionally, keep an eye on exchange rate fluctuations. Crypto prices shift frequently, so the final amount received may vary slightly.

What should you watch out for when using fiat onramps?

Once a transaction is submitted through a fiat-onramp provider, users can typically track its progress through the provider’s status page or email notifications. Most services display indicators such as “payment received,” “verification in progress,” or “crypto released to network.” When the cryptocurrency is sent to the blockchain, a transaction ID is usually provided, which can be used to check confirmation progress on publicly available blockchain explorers. Tracking these stages helps set realistic expectations about timing, especially when network activity is high. This visibility also makes it easier to share information with support teams if you need assistance.

How can you troubleshoot common onramp issues?

Even with reliable services, you may occasionally face small issues. Understanding how to troubleshoot them helps you resolve delays where possible.

• Verification problems: Ensure your documents are valid and match your account details.
• Delayed deposits: Check the transaction status on the onramp provider’s page or in your email confirmation.
• Payment errors: Confirm your bank allows international crypto-related transactions.
• Incorrect currency selection: Make sure the fiat and crypto types match your Deriv account settings.

If needed, contact Deriv’s 24/7 support team, who can coordinate with providers to trace your transaction.

How do you use a fiat-onramp to buy crypto on Deriv?

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Here’s an example of the process:

1. Log in to your Deriv cryptocurrency account.
2. Go to Cashier → Fiat onramp → your available payment method.
3. Choose your country, payment method, and crypto type.
4. Enter the amount you want to buy (between 50 USD and 5,000 USD).
5. Complete verification.
6. Add your payment details and submit your purchase.
7. Your crypto will appear once the deposit is confirmed.

What are the main benefits of using Deriv’s fiat onramps?

• Faster funding compared to external exchanges (depending on provider and blockchain conditions).
• All‑in‑one experience: Deposit directly into your Deriv account.
• Global accessibility: Available in many regions.
• Transparent rates: View conversions before confirming.
• Regulated partners: All onramps follow KYC and AML standards.

Using fiat onramps also enhances portfolio flexibility, allowing you to diversify across assets quickly, depending on processing times.

What are the key takeaways?

Funding your Deriv cryptocurrency account is now a more streamlined process. With regulated onramp providers, users can convert fiat to crypto and deposit it directly into their Deriv account.

By following this guide, you’ll have everything you need to convert fiat to crypto and prepare your account for trading on Deriv platforms.