Moonpay has changed the game by allowing users to pay for their NFTs with bank cards. This plug-and-play service is a big step for integrating NFT technology into our everyday lives, making the process of purchasing NFTs easier than ever.
Moonpay has created “NFT Checkout”, creating a seamless transaction between bank card and NFT platforms. Meaning that users don’t have to acquire crypto before purchasing, opening the market to a whole new demographic.
Purchasing an NFT is seemingly straightforward when looking at the steps. Create a wallet, put crypto in the wallet, pay some fees, submit the ID, and you should be good to go. However, whilst this seems like a few hoops to jump through, it can be a hassle. Submitting ID documents and KYC (know your customer) information can be a lengthy and tedious process deterring many potential customers. Now Moonpay has shaken and simplified this process by allowing bank card payments for NFTs.
“We’ve already radically simplified cryptocurrency transactions – NFTs were the obvious next step” Chief executive officer Ivan Soto-Wright
Moonpay isn’t new to this idea, assisting celebrities like Post Malone and Jimmy Fallon to buy NFTs without the bother. Their plug-and-play service cuts out the in-between steps. Not only that, they provide fewer fees, a simplified verification process, and deliver tokens directly to on-chain wallet addresses. Thankfully, Moonpay deals with all the regulatory and chargeback obligations creating a smooth venture into NFTs for non-crypto natives.
In conclusion, we do not doubt that the widget which Moonpay created will create many new possibilities for creators and buyers alike, opening the market to buyers without crypto wallets.
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As always, make your own research prior to making any kind of investment.