We Bought the Same Amount Through Four On-Ramps. Here Is What It Cost.

Advertised fees tell you almost nothing. We ran the same purchase through four providers within the same two minute window and measured what actually arrived. A provider publishing its terms makes this measurable, and an on-ramp that publishes its limits publishes them.

The method

Five hundred euros, same asset, four providers, quotes requested within two minutes of each other to remove market movement.

For each: the fiat debited, the crypto credited, and the mid market rate at the moment of the quote. The difference, as a percentage, is the total cost.

Payment by bank transfer where available, card where not, because that is what a real buyer faces.

What we found

The spread between cheapest and most expensive was 2.6 percentage points. On five hundred euros that is thirteen euros, which sounds small and is 2.6 percent of every purchase forever.

The provider advertising zero fees was not the cheapest. Its spread absorbed more than the others charged explicitly.

The provider with the highest advertised fee was second cheapest, because its rate was close to mid.

The components

Every provider charged in three places: the rate, the payment method, and the network fee for sending out.

Only one presented all three separately. Two presented a total. One presented a rate and a fee and absorbed the network cost into a flat withdrawal charge that was roughly six times the actual on-chain cost at the time. For online retail specifically, a corporate crypto wallet was the comparison we used.

We checked that last one on a block explorer. The transaction cost about forty cents. The charge was just under three euros.

The card surprise

On two of the four, the card payment appeared on the bank statement as a cash advance rather than a purchase.

That attracted a separate fee from the bank, plus interest from the transaction date with no grace period. Neither provider mentioned it, and neither can, because it happens on the issuer’s side.

Anyone using a card for this should check a statement after the first purchase rather than trusting the provider’s confirmation.

The measurement anyone can repeat

Note the mid market price. Request a quote. Record the fiat out and the crypto in. Divide and compare.

Two minutes per provider, and it is the only comparison that reflects what you pay.

What we would use

The provider that separated all three costs and settled to an account in our own name, which was not the cheapest by a small margin and was the only one whose invoice a bookkeeper could use without interpretation.

For a business that matters more than thirteen euros. A regulated fiat to crypto gateway that issues a proper invoice with the fee split out removes monthly reconstruction work.