Transaction types

Fern supports the following transaction types. First-party transactions are those that occur between accounts belonging to the same customer. Third-party transactions occur between accounts belonging to a customer and their contact.

Transaction name	First-party or third-party	Description
Onramp	First-party	Customers converting fiat currencies from a registered bank account or fiat payment method to cryptocurrencies in their wallet
Offramp	First-party	Customers converting cryptocurrencies from a wallet to fiat currencies in a registered bank account or fiat payment method
Crypto swaps (coming soon)	First-party	Customers converting cryptocurrencies from their wallet to other cryptocurrencies in their own wallet on the same network
Fiat payments in (coming soon)	Third-party	Customers receiving fiat payments into virtual accounts, which automatically convert to the customer's desired cryptocurrency
Fiat payments out (coming soon)	Third-party	Customers using cryptocurrencies to make payments that settle via local fiat currencies and payment methods