Of promote more engagement, the hurdles to entry into the NFT realm are always being lowered. Trading or collecting NFTs is gradually becoming commonplace and no longer a huge issue. But can you foresee a world in which acquiring NFTs is as simple as swiping your credit card, as it is on eBay? According to one study, card payment is more convenient for 80% of the average individual. As a result, several white label NFT markets are now offering a credit card payment option for their buyers. Moving further, we’ll take a closer look at how fiat payment for NFT works, its advantages, and several well-known solution providers at the present.
How Can Credit Cards Be Used to Purchase NFTs?
Typically, NFT marketplaces only enable buyers or collectors to purchase NFTs with cryptocurrency. While some of them had long desired a fiat payment capability, they found it difficult to develop because to the intricacy and legal requirements involved. Fortunately, integrating NFT-focused payment solution providers into their backends is a simpler way to accomplish this. Stripe and Carbon Money are two examples to buy nft with credit card.
To purchase NFTs, sellers accept either fiat or cryptocurrency.
NFT makers or sellers, particularly those that accept payments through Stripe or PayPal, have the option of receiving payments in their supported national currencies. To accomplish this, you must link your card (or bank account, as the case may be) to your storefront. Similarly, efforts are underway to enable vendors to receive payments in stable currency like as BUSD, USDC, and DAI. Circle introduced their off-ramp API solution enabling NFT sellers to be paid in USDC last year.
Buyers top up their cryptocurrency with credit cards.
If you are an NFT collector or buyer, you can use your credit card to add funds to your wallet if you do not have enough cryptocurrency. For example, if an NFT’s floor price is 4 SOL but you only have 3 SOL, you may use your credit card to top up your NFT wallet and purchase one additional SOL.