NFT marketplace OpenSea is teaming up with MoonPay to enable direct credit card payments for the purchase of non-fungible tokens (NFTs), opening the doors to investors that don’t own cryptocurrency, according to reports.
People who want to buy, sell, trade, and collect NFTs can pay directly with Visa, MasterCard, American Express, Apple Pay, Google Pay and other methods, without first having to convert to specific cryptocurrencies, a MoonPay spokesperson told Block Crypto. The payment methods can be used for all sales on the OpenSeas platform, including initial mint, primary sales, and secondary sales.
While debit cards are currently accepted as payment, users are still required to connect to a digital wallet. With direct card payments in partnership with MoonPay, the process is simplified and no crypto or wallet is needed. The move is intended to grow OpenSea’s market to people who don’t have a native understanding of crypto, according to Ethereum World News.
Read more: OpenSea Rolls out Investment Arm, Grants for NFTs
OpenSea customers pay directly on the platform and “aren’t tied to using a custodial ledger or forced to use a specific token,” Block Crypto reported. NFTs on OpenSea are delivered on-chain and handled natively. People paying with cards could be subjected to additional fees, however.
The new payment feature is being introduced to select users in stages, MoonPay told Block Crypto. MoonPay first launched the feature in January when Mastercard collaborated with Coinbase to facilitate NFT buys.
Opensea is the dominant NFT marketplace by trading volume, according to Ethereum World, and recently announced it was onboarding Solana-based NFTs. In January, the company raised $300 million in a Series C funding round at a $13.3 billion post-money valuation. In February, the platform processed $5 billion in trading volume, its highest yet.
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MoonPay CEO Ivan Soto-Wright said recently that implementing fiat-based payment services could lead to broad-based adoption.
“Right now, the NFT market is limited to the hundreds of millions of people who own cryptocurrency. MoonPay’s NFT Checkout has just opened the door to billions more who own credit cards by making ownership both simple and fast,” he said, per Ethereum World.
FAQs
They accept both credit cards and crypto. OpenSea: The largest NFT marketplace on the web, and they take credit cards!
Does MoonPay accept credit cards? ›
MoonPay offers a wide range of payment methods around the world. Those include credit and debit cards, bank transfers, mobile options like Apple Pay and Google Pay. It also offers local options such as SEPA in the EU, Open Banking in the UK, YellowCard in Nigeria, and PIX in Brazil.
Does OpenSea use MoonPay? ›
From an NFT marketplace that uses MoonPay (like OpenSea), pick an NFT you'd like to buy and go to checkout. Enter your wallet address, or choose if you'd like to use your MoonPay account.
What payment options are available on OpenSea? ›
The easiest way to purchase an item using OpenSea is with a credit card. During the transaction, a third-party payment tool, MoonPay, will convert your local currency into cryptocurrency so you can purchase the item.
Which credit cards work on OpenSea? ›
MoonPay first introduced the purchase of Ethereum NFTs on OpenSea. Now, users can purchase Ethereum, Solana, and Polygon NFTs with a debit or credit card. Collectors can pay directly with major payment methods like MasterCard, Visa, Apple Pay, and Google Pay. MoonPay wants to make NFTs accessible to everyone.
Does OpenSea accept Apple Pay? ›
OpenSea partners with MoonPay to allow NFT purchases with bank cards, Apple Pay, and Google Pay.
Why is MoonPay rejecting my card? ›
Usually, this happens because of payment or account issues. If your bank says, "Your transaction has been declined", contact your bank for help. The drop may happen if there are card details, verification, address, or suspicious activity issues.
Can I buy crypto on MoonPay with credit card? ›
Why is MoonPay the best way to buy Bitcoin? Purchase Bitcoin in more than 160 countries using the local currency of your bank account. Buy Bitcoin instantly with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more.
Which bank card works on MoonPay? ›
NFT
| Payment Method | Non-US | US |
|---|
| Credit/debit card (including MasterCard, Visa, and Maestro) | ✅ | ✅ |
Best Wallet for OpenSea: Trust Wallet
Because of Trust Wallet's zero-fee concept (it is free to download and use), ease of use, and great security system, this digital wallet ranks as the best wallet for OpenSea. All five million users can enjoy the full benefits of bitcoin and blockchain applications!
OpenSea generally charges a 2.5% fee on all secondary sales on the platform, and you may pay network fees to confirm transactions.
How much does OpenSea charge for NFT listings? ›
Cost to Create NFT on Opensea
The largest NFT marketplace, OpenSea, charges 2.5% per transaction. The cost of minting, or creating, non-fungible tokens can range from less than $1 to more than $1,000 depending on the above mentioned factors.
How much does it cost to mint an NFT on OpenSea? ›
Different networks have varying gas fees, and they change with time. This means checking the gas fees before beginning the process is crucial. Some NFT Marketplaces allow users to list their digital assets for free but take a commission once the NFT goes. The NFT minting cost on OpenSea is 2.5% of the final sale.
How to purchase an NFT on OpenSea? ›
It's easy to buy an NFT on OpenSea, just follow these instructions:
- Go to the item page for the NFT you want to buy and select add to cart. ...
- Once you're ready to checkout, select the cart icon.
- Select complete purchase.
- Follow the prompts in your wallet to confirm the transaction.
You can only buy NFT on OpenSea if you own a cryptocurrency wallet. If you see an NFT you'd like to purchase, click the collection name at the top and check if the creator has added social media accounts. If they have, look for the OpenSea collection URL on their profile.
Can you buy NFT without a crypto wallet? ›
Buying NFTs Using Credit/Debit Cards
Another way to buy NFTs without crypto is by using your credit or debit card. Some NFT marketplaces allow users to make direct purchases using these payment methods, making it convenient for newcomers.
How do you pay for NFTs? ›
An NFT is a token built and managed on a blockchain (most frequently on Ethereum (ETH -1.89%)) that represents ownership of an asset. So, most NFTs require payment in Ethereum or the other crypto blockchain where they're built.
