TMI about Evercode Lab – there is nothing more valuable for our team than sharing personal experiences from our practice or telling our blog readers what is worth doing and what to be afraid of. And we understand better than anyone that a lot depends on choosing a provider, so it’s important not to make a mistake with them.

Looking at modern market conditions and the rapidly changing world of Web3, it is essential to integrate a reliable fiat provider in order to create seamless user experiences when operating in a geographical location where your target audience resides.

Without further ado, we present to you 5 tips to help you choose the best fiat provider for your Web3 product. 

Tip #0: Visit our main website to learn about the services we can build for your business. Meet all the necessary information, read successful use cases, and leave a form for personal discussion about your desired product. 

Tip #1: Ensure Global and Local Coverage 

Starting with the most obvious one. Not a secret that your fiat provider should support a wide range of currencies and payment methods, including bank transfers, cards, and local payment systems. 

For Web3 products targeting international audiences, multi-currency support ensures accessibility and convenience for users worldwide.

For example, Guardarian stands out by supporting 8 payment methods, including local favorites like PIX in Brazil, SPEI in Mexico, and SEPA in Europe, etc. 

Therefore, the first question you should ask when choosing a provider is “where is my target audience located and which markets our solution will reach?”.

Tip #2: Check Compliance and Licensing 

The second point is about regulatory compliance, because it’s critical. We have already talked a lot about the importance of adapting to local requirements and laws. 

So our conclusion is simple – choose a provider licensed in multiple jurisdictions to ensure your platform meets KYC/AML requirements. This will protect your business from legal risks and build trust with your users.

For example, fiat provider Simplex currently serves users in over 190 countries and supports more than 100 fiat currencies and more than 200 cryptocurrencies, providing flexibility for global audiences. 

Tip #3: Prioritize Security and Fraud Prevention 

A top fiat provider must offer robust security measures like encryption, fraud detection, and secure APIs. 

So, a piece of advice for you – ensure they undergo regular third-party security audits and comply with industry standards like PCI DSS. This extra diligence helps protect your Web3 platform against hacking attempts, phishing schemes, and suspicious transaction patterns that could harm both your reputation and user trust. 

Since Web3 operates in a high-risk environment, these features are non-negotiable to protect user funds and data.

Tip #4: Evaluate Integration and User Experience 

Another point of truth – seamless API integration is vital for a better user experience. 

That means the provider’s interface should be intuitive, reducing friction for your customers. 

Smooth onboarding, intuitive user interfaces, and additional features like one-click payments, recurring billing, and transparent transaction tracking can dramatically improve the user journey and retention rates.

Tip #5: Analyze Fees and Settlement Times 

Last, but not least. We recommend that you compare transaction fees, exchange rates, and settlement speeds among providers. 

While low fees are attractive, prioritize providers offering fair rates without compromising on speed and reliability.

Final Thought: Why It Matters for Web3 Success 

To sum it up, we can say that your fiat provider acts as the bridge between traditional finance and your Web3 ecosystem. 

A poor choice can lead to transaction delays, compliance issues, and loss of user trust. On the other hand, the right provider ensures fast, secure, and regulation-compliant fiat-to-crypto conversions, making your product more competitive in the market.

Don’t waste your time – contact Evercode Lab today to learn more about all the possibilities of fiat support integration into your Web3 product. We are ready to make your boldest crypto-dream come true!