Context

On ramping funds involves converting fiat currency to crypto. There are several ways to complete this action using Bridge's APIs.

Answer

All on ramp transactions consist of 2 elements:

1. The deposit that sends fiat funds to Bridge

2. The transfer that Bridge makes that converts these fiat funds to crypto

The Deposit

Bridge cannot pull funds from an account. All deposits must be pushed to Bridge from another financial institution. Once Bridge receives a deposit, it will convert the funds based on what type of transfer is used. Depending on what transfer type is used, you may have to include a memo to the deposit to ensure it is processed correctly.

The Transfer

There are 3 ways to instruct Bridge on how to convert the funds:

1. You can use a Virtual Account

   1. Virtual accounts are unique routing and account numbers that automatically send funds to the configured destination wallet.

   2. This approach involves:

      1. creating a Virtual Account for a user that specifies the destination of the funds

      2. receiving a routing and account number for that user

      3. sending the deposit to the routing and account number

   3. Note that any deposit sent to the routing and account number will be processed per the instructions provided when the Static Memo was created.

   4. No memos are required for Virtual Accounts.

   5. Note that Virtual Accounts are a premium product. If you are interested in adding Virtual Accounts to your platform, please reach out to your Sales rep or Bridge Help Desk.

2. You can use a Static Memo

   1. Static memos are consistent deposit instructions that send funds to the configured destination wallet.

   2. This approach involves:

      1. creating a static memo that indicates a destination

      2. adding that static memo to the deposit

   3. Note that any deposit sent with the Static Memo will be processed per the instructions provided when the Static Memo was created.

   4. If a deposit does not include a static memo, it will not be processed. You will receive a notification and be able to provide a memo to process the transaction.

3. You can use a Transfer

   1. Transfers require a one-time memo that indicates where to send the funds. These memos cannot be reused and need to be generated with the specific deposit amount.

   2. This approach involves:

      1. creating a transfer with the specific deposit amount

      2. receiving a one-time use memo

      3. sending the deposit with this memo

   3. If a deposit does not include a memo, it will not be processed. You will receive a notification and be able to provide a memo to process the transaction.