Buying NFTs, or non-fungible tokens (NFT), is a completely new way to experience trading in the blockchain space. It’s different from investing, but also not as simple as simply buying an asset with cryptocurrency. Commence your journey by learning how to buy NFTs with a credit card!
Buying NFTs with a credit card is possible, but it can be difficult to find the right place. This guide will help you buy and store your NFTs safely. Read more in detail here: buy nfts with credit card.
The surge in NFT interest in 2021 has prompted many newcomers to look for ways to become involved in the Non-Fungible Token ecosystem via a number of channels.
The most common method of converting money to NFT is to use a fiat on-ramp platform, such as Coinbase Pro, to convert USD to something like ETH or SOL, then move it to their preferred wallet, such as MetaMask or Phantom, and either mint an NFT or purchase one on the secondary market.
However, some customers may prefer the ease of purchasing an NFT directly with a credit card, which is a service that has just lately been accessible. Users may purchase NFTs with a credit card on Switchere and SpaceSeven, for example.
This is how it goes.
Behind the Scenes of Purchasing NFTs with a Credit Card
Let’s get a better understanding of how to purchase NFTs using credit cards by familiarizing ourselves with a few crucial features.
Switchere, an Estonian-based regulated online crypto exchange, just announced that Concordium’s native payment token, the CCD, has been integrated. Switchere is a fiat on-ramp, which means it is one of the few exchanges that allows users to convert fiat currencies like USD and EUR into crypto and trade crypto for crypto.
It provides a safe infrastructure that many decentralized exchanges leave to smart contracts as a licensed corporation that conforms to legal compliance.
Concordium is a non-permissioned public blockchain with a solution tailored to multinational companies. Concordium, a newer initiative, is appealing to developers, creators, and investors since it provides cheaper gas prices in a scalable environment with correct identification for all parties involved.
It’s a Layer-1 proof-of-stake blockchain with an integrated ID layer for better regulatory compliance, making it an excellent partner for credit card payments. Concordium makes use of the CCD native payment token. A $36 million funding round was just completed by the firm.
Built on the Concordium blockchain and sponsored by Switchere, SpaceSeven is a token discovery tool and marketplace that enables users to create, purchase, and trade NFTs. On November 23, 2021, the NFT platform was introduced (at 4:20 PM CET).
The NFT bazaar at SpaceSeven
Tacans, a Swiss software development firm, and Venture Builder, a Ukrainian R&D firm, collaborated on the platform. Artists may use SpaceSeven to produce NFTs and sell them for a set price or at an auction.
“This is how it works: a customer creates a SpaceSeven account and wallet, then uses the Switchere widget to purchase CCD using any of the supported payment options. The user may then utilize SpaceSeven to swap the CCD for the required NFT.” – Nikolai Khachatrian, Switchere’s Head of Product.
As a result, SpaceSeven customers may purchase NFTs directly with a credit or debit card, thanks to Switchere’s help.
“This is the first and only time on the market that you may purchase NFTs with your credit card.” With the increased interest in NFT, we’d want to see it become more widely used.” — stated Philip Mostert, SpaceSeven’s CMO.
Final Thoughts: How Will Credit Card NFT Purchases Drive NFT Adoption?
The functionality is a very significant operation, as indicated by the trio of partners required to make it feasible to purchase NFTs using a credit card.
In this scenario, the Switchere widget allows crypto projects like SpaceSeven to take credit card payments, making NFTs more accessible. In principle, the Switchere widget may be implemented into any platform that wishes to take credit cards as a means of payment.
Rather of needing users to navigate the above-mentioned roadblocks (fiat onramps, cryptocurrency transfers between wallets, and so on), projects may incorporate a payment facilitator to make it easier for individuals to acquire NFTs.
Of course, purchasing an NFT using a credit card would involve a credit card processing cost, but it’s worth remembering that the usual route would include a slew of additional fees:
- When you purchase any cryptocurrency through Coinbase, you will be charged a fee (so USD to ETH)
- When transmitting ETH to a MetaMask, the ETH network charges a gas price.
- The NFT comes with its own gas cost when purchased.
Which approach makes the most sense for you, the user, is entirely up to you.
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The “where to buy nfts reddit” is a quick and easy guide on how to buy NFTs with a credit card.
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Frequently Asked Questions
Can you buy NFTs with credit card?
A: I am unable to process credit card transactions at this time.
Where can I purchase NFT?
A: NFT is a CryptoKittie. You can purchase them on the website https://coingun.io/
How do I buy NFTs on Mintable?
A: Mintable is a community-driven marketplace for Non-fungible tokens. For more information, visit https://www.mintable.com/
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