Non-fungible tokens (NFTs) are becoming commonplace and everybody wants to own some. However, some people may be put off by the process which usually involves first buying cryptocurrencies for onward purchase.
Are you one of them? No problem. Luckily, there are ways you can buy NFTs without having to use crypto as it has always been. In this guide, we highlight four of these ways that you too can use to buy and own an NFT. These are:
- Using a Credit Card
When NFT marketplaces first started, you could only trade using cryptocurrencies such as Ethereum whose fees can be outrageous. Fortunately, NFT marketplaces such as OpenSea and Nifty Gateway now allow users to pay for NFTs using credit cards.
To do this, all you need to do is register on the marketplace that supports this feature. You may be asked to verify your identity using government-issued documents. You can then browse the marketplace and decide on the NFT you wish to buy.
When checking out, you’ll see the option to pay with credit card if the seller accepts that method of payment. Choose the payment method and provide your credit card details to complete the payment and the NFT is yours.
This may cost a little more than using some cryptocurrencies but if your primary goal is to avoid cryptocurrencies, it is a convenient choice.
2. Using a Third-Party Service
As stated earlier, most marketplaces don’t support purchase of NFTs using credit cards, so another viable option is to use a third-part service. Through such a service, you can pay for NFTs using fiat money or another method that doesn’t involve using crypto.
First, find a provider that allows the buying of NFTs via third parties. Examples are Niftex.io, Shopify and NiftyKit. After registering on any of them, follow the procedures for the payment and choose a method that you prefer. This may be credit cards, bank transfers or other methods depending on the provider.
While this is very convenient and good for beginners in the crypto world, it may cost more and you may need to very your identity which may take longer than if you just use the marketplace.
3. Using a P2P Exchange
Another way to buy NFTs without paying with crypto is to use a peer-to-peer (P2P) exchange. P2P exchanges typically enable buying or selling of crypto assets using fiat money. You can buy and sell NFTs on such exchanges without needing an intermediary.
You can use OpenSea, the leading NFT marketplace with this one. Once you register and link your wallet, you can look for NFTs you wish to buy with the P2P platform and pay with fiat or using another method.
This is usually cheaper as there are no intermediaries, and is also very fast. It also carries a higher risk of fraud, so you should do your due diligence to ensure you’re buying from a legit seller.
4. Buying Through a Friend
This is a method many may never think about, but it is also an easy and safe option. If you have a friend that owns crypto, you can arrange with them to buy the NFT for you while you pay them with physical cash or whatever you agree on.
Simply ask your friend to buy you the NFT and send to your wallet. They’ll buy the NFT and send to you while you transfer the agreed amount of money to their wallet. Now you have an NFT without using crypto to buy while your friend gets the money he wants.
Now you know how to obtain an NFT without holding any crypto assets. if you were wondering how to buy, you can now do.
You should be careful though because unlike the last one, the other methods involve trading with people you don’t know. It is advisable to be cautious as you proceed. Also make sure the platform you use is trustworthy so that you don’t end up losing your money without getting an NFT.