How to Buy NFTs with a Credit Card: A Quick & Easy Guide



The
wave
of
NFT
attention
in
2021
has
led
many
newcomers
to
seek
ways
to
enter
the
Non-Fungible
Token
ecosystem
from
a
variety
of
routes. 


The
most
popular
way
to
get
from
fiat
to
NFT
is
through
the
traditional
route
of
using
a
fiat
on-ramp
platform,
like
a

Coinbase

Pro,
to
convert
USD
to
something
like
ETH
or
SOL,
and
then
transferring
it
over
to
their
wallet
of
choice,
like

MetaMask

or
Phantom,
and
then
either
minting
an
NFT
or
purchasing
one
on
a
secondary
market. 


However,
the
convenience
of
buying
an
NFT
directly
with
a
credit
card
is
something
that
some
users
may
prefer,
and
this
has
only
recently
become
an
available
service.
Switchere
and
SpaceSeven,
for
instance,
enable
users
to
buy
NFTs
with
a
credit
card. 


Here’s
how
it
works.


Buying
NFTs
With
Credit
Card:
Behind
the
Scenes


To
best
understand
the
mechanics
of
buying
NFTs
with
credit
cards,
let’s
familiarize
ourselves
with
a
few
of
the
key
elements. 



Switchere


is
an
Estonian-based
licensed
online
crypto
exchange
that
recently
announced
the
integration
of
Concordium’s
native
payment
token,
the
CCD.
Switchere
serves
as
a
fiat
on-ramp,
meaning
it
is
one
of
the
minority
of
exchanges
that
allow
people
to
convert
fiats
like
USD
and
EUR
into
crypto
as
well
as
trade
crypto
to
crypto. 


As
a
licensed
company
that
adheres
to
legal
compliance,
it
offers
a
secure
infrastructure
that
many
decentralized
exchanges
leave
to
smart
contracts. 


Concordium
is
a
non-permissioned
public
blockchain
that
has
specialized
its
product
for
global
businesses.
A
newer
project,
Concordium,
is
attractive
to
developers,
creators,
and
investors
alike
because
it
offers
lower
gas
fees
in
a
scalable
environment
with
proper
identification
for
all
parties
interacting. 


It’s
a
Layer-1
proof-of-stake
blockchain
with
an
integrated
ID
layer
for
easier
regulatory
compliance,
which
is
why
it
makes
for
a
good
partner
to
support
credit
card
payments.
Concordium
uses
a
native
payment
token
called
CCD.
The
company
recently
closed
a



$36
million
fundraising
round
.


SpaceSeven
is
a
token
discovery
platform
and
marketplace
that
allows
users
to
create,
buy,
and
sell
NFTs,
built
on
the
Concordium
blockchain,
supported
by
Switchere.
The
NFT
platform
was
launched
on
November
23,
2021
(at
4:20
PM
CET). 

The SpaceSeven NFT marketplace

The
SpaceSeven
NFT
marketplace


The
platform
was
created
by
Tacans,
a
software
development
house
in
Switzerland,
and
Venture
Builder,
with
an
R&D
center
in
Ukraine.
SpaceSeven
allows
artists
to
create
NFTs
and
sell
them
at
a
fixed
price
or
at
an
auction.


“Here’s
how
it
works:
a
client
registers
his
or
her
account
and
wallet
on
SpaceSeven
and
uses
the
Switchere
widget
to
buy
CCD
through
any
of
the
available
payment
methods.
Then,
the
user
may
exchange
the
CCD
for
the
desired
NFT
on
SpaceSeven.”

said
Nikolai
Khachatrian,
Head
of
Product
at
Switchere.


So,
users
of
SpaceSeven
can
buy
NFTs
directly
with
a
credit
and
debit
card,
which
is
facilitated
by
Switchere. 


“This
is
the
first
and
very
unique
opportunity
on
the
market
to
buy
NFTs
with
your
credit
card.
With
growing
interest
in
NFT,
we
would
like
to
expand
its
adoption
in
the
market.”

said
Philip
Mostert,
CMO
at
SpaceSeven. 




Final
Thoughts:
How
Will
NFT
Purchases
with
Credit
Cards
Push
NFT
Adoption? 


As
evidenced
by
the
trio
of
partners
needed
to
make
it
possible
to
buy
NFTs
with
a
credit
card,
the
feature
is
a
fairly
involved
endeavor.


In
this
case,
the
Switchere
widget
makes
NFTs
more
accessible
by
allowing
crypto
projects
like
SpaceSeven
to
accept
credit
card
payments.
In
essence,
this
Switchere
widget
can
be
integrated
into
any
platform
that
wants
to
start
accepting
credit
cards
as
payments. 




Rather
than
requiring
users
to
jump
between
a
series
of
hurdles
mentioned
above
(fiat
onramps,
transferring
cryptocurrency
between
various
wallets,
and
so
on),
projects
can
integrate
a
payment
facilitator
to
help
people
buy
NFTs
without
the
added
complexities. 


Of
course,
buying
an
NFT
with
a
credit
card
will
come
with
a
credit
card
processing
fee,
but
it’s
worth
noting
that
one
would
incur
a
multitude
of
fees
in
the
traditional
pathway:


  1. Coinbase
    charges
    a
    fee
    when
    buying
    any
    crypto
    (so
    USD
    to
    ETH)

  2. The
    ETH
    network
    charges
    a
    gas
    fee
    when
    sending
    ETH
    to
    a
    MetaMask

  3. The
    purchase
    of
    the
    NFT
    comes
    with
    its
    own
    gas
    fee. 


It’s
up
to
you,
the
user,
which
route
makes
the
most
sense
for
you.

This article is Originally posted on CoinCentral.com
Author: Alex Moskov