How to buy NFTs without owning crypto

Nonfungible tokens (NFTs) have become a popular way for creators to sell digital art and other unique items. Yet because they do not own cryptocurrencies, many people are afraid to invest in NFTs. So, can you buy NFTs without owning crypto? 

The good news is that one can purchase NFTs without owning any cryptocurrency. For instance, users can buy NFTs with dollars, credit cards or through a friend.

This article will look at a number of ways to buy NFTs with fiat money and other methods.

Buying NFTs with a credit card on NFT marketplaces

One of the simplest methods to get these unique digital assets without having cryptocurrencies is to buy NFTs with a credit card. Some NFT marketplaces, such as OpenSea and Nifty Gateway, let customers use credit cards to purchase nonfungible tokens. It is crucial to remember that not all marketplaces accept credit cards as a form of payment.

Users must register for an account on the marketplace they want to use to purchase NFTs with a credit card. Before customers can use a credit card to purchase nonfungible tokens on some marketplaces, identity verification is required. Users can browse the various NFTs and choose the ones they want to buy after creating and verifying their accounts.

They can then proceed to the checkout page, where they will have the option to select a payment method. If credit card payment is available, users can choose this option and enter their credit card details to complete the purchase.

It is crucial to remember that using a credit card to purchase NFTs could result in additional costs, such as processing or transaction fees. If users buy NFTs on a website that accepts a different currency than their credit card, they also need to be informed of the exchange rate. NFT purchases may also be classified as cash advances by some credit card providers, which could result in higher interest rates and fees.

Despite these possible disadvantages, purchasing NFTs via a credit card is an accessible way to get hold of these distinctive digital assets without having any cryptocurrencies. Without having to purchase and trade crypto, it enables people who are unfamiliar with or beginners in the world of cryptocurrencies to invest in NFTs.

Related: How do you assess the value of an NFT?

Using third-party services to buy NFTs

Another option to buy NFTs without owning cryptocurrencies is by using third-party services. Users of these services can purchase NFTs using fiat money or different payment methods that might not be permitted on NFT marketplaces. So, how do you use third-party services to buy NFTs?

Users must locate a provider that permits them to purchase NFTs through third parties. Among the examples are Niftex.io, Shopify and NiftyKit. For instance, Shopify allows merchants to accept credit card payments. Yet, to allow for cryptocurrency payments, artists must enable one or more of the supplementary cryptocurrency payment processors from the “Payments” page located in the “Settings” section of their Shopify administrator account.

In general, users must register an account and follow the payment procedures after choosing a service they want to utilize. Depending on the service, different payment alternatives such as credit cards, bank transfers and others may be available.

However, using third-party services to buy NFTs has its pros and cons. On the one hand, this method is advantageous for people who are new to the cryptocurrency world because it enables consumers to buy nonfungible tokens without needing to own cryptocurrency.

In addition, these platforms provide a wider range of payment options, including bank transfers and credit cards, than NFT marketplaces do. Some services go so far as to include extra features like fractionalized ownership of NFTs, which can give investors more options.

Using third-party services, however, could also have certain disadvantages. There could be higher fees than on NFT exchanges, which over time could mount up. The security of third-party services may also be inferior to that of NFT marketplaces, which raises the possibility of fraud and other scams. Finally, users may be required to set up accounts and go through further verification processes, which might take time and possibly include disclosing personal data.

Using a peer-to-peer exchange

Using a peer-to-peer (P2P) exchange allows users to buy and sell NFTs directly with each other without the need for intermediaries such as banks or payment processors. Users must locate a platform that provides the P2P exchange option in order to purchase NFTs.

OpenSea, a decentralized marketplace for NFTs, serves as one example. Users can register for OpenSea and link their wallets, such as MetaMask, which enables interaction with the Ethereum blockchain, in order to access the service. Users can explore available NFTs and buy them using fiat currency or other payment methods once they have a connected wallet.

Due to the absence of intermediaries in the transactions, peer-to-peer…