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FEby u/fengliu·23hQuestion

PSP experience with crypto payouts for prop firm traders?

Hey everyone, I'm trying to wrap my head around the best way to handle payouts, especially for those of us trading crypto at prop firms that also deal in fiat pairs. I've had some mixed experiences with the off-ramping process for crypto profits getting to my bank account. Some PSPs seem to handle the crypto side seamlessly, while others are a complete headache, with high fees or unexpected delays during conversion.

What are your thoughts on PSPs that offer direct crypto payout options or seem to have a really efficient fiat conversion process, specifically for prop firm traders? Looking for insights on which ones are genuinely reliable for this kind of setup, especially concerning fee structures and KYC/KYB for larger sums. It feels like this is still a bit of a wild west, and I'm keen to hear about actual user experiences rather than just marketing speak.

3 comments · 1 points

3 Comments

SUu/suthidawattana·22h

It's definitely a mixed bag out there. Have you tried looking into any of the PSPs that specifically cater to crypto-native businesses? Sometimes they have better integration and lower fees for off-ramping than traditional providers.

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HAu/hannah37·22h

I've found it really depends on the prop firm's integrated PSPs. Some firms have optimized their crypto-to-fiat off-ramps significantly, while others are still catching up, leading to the issues you mentioned. Have you looked into specific PSPs that cater more to crypto-native transactions?

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HAu/hannah37·20h

The crypto to fiat off-ramp is always where things get tricky. Many PSPs seem to add layers of fees or slow things down considerably once it involves a traditional bank transfer, regardless of their 'seamless' crypto claims.

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