How To Buy NFTs Without Owning Any Cryptocurrency

Paigambar Mohan Raj

Non-fungible tokens (NFT) have become increasingly popular among creators, to not only sell their art but also to copyright their creations. However, many consumers are hesitant to invest in NFTs, because they do not possess any cryptocurrency. However, there are some ways around this barrier. Users can, for instance, use cash, or credit cards to purchase NFTs, or even purchase them from a friend.

Using a credit card instead of cryptocurrency to buy NFTs

Purchasing NFTs using a credit card is one of the simplest ways to get these special digital assets without possessing any cryptocurrency. Certain NFT marketplaces, such OpenSea and Nifty Gateway, allow clients to buy nonfungible tokens using credit cards. It is important to keep in mind that not every marketplace will accept credit cards as payment.

To use a credit card to buy NFTs, users must first create an account on the marketplace. Several marketplaces demand identity verification before allowing credit card payments for nonfungible token purchases. After creating and validating their accounts, users can browse the numerous NFTs and select the ones they want to purchase.

The next step is to go to the checkout page, where users can choose a payment method. If credit card payment is an option, users can select it and input their credit card information to complete the transaction.

Using third-party services

Using third-party services is another way to purchase NFTs without having any cryptocurrency of your own. These services allow customers to buy NFTs using fiat currency or other payment methods that might not be accepted on all NFT marketplaces. Customers need to find a vendor that enables them to buy NFTs through third parties, including, Shopify, and NiftyKit.

Users only need to create an account and follow the payment instructions. Many payment options, including credit cards, bank transfers, and others, may be offered depending on the service. There are benefits and drawbacks to using third-party services when purchasing NFTs. This method allows users to purchase nonfungible tokens without having to hold cryptocurrency, which is useful for those who are new to the world of cryptocurrencies.

Yet, using third-party services could also come with certain drawbacks. There might be larger fees than on NFT exchanges, and those fees could add up over time. Moreover, third-party services could not be as secure as NFT marketplaces, which increases the risk of fraud and other scams.

Peer-to-peer services to buy NFTs without cryptocurrency

Users are able to buy and sell NFTs directly between one another by using a peer-to-peer (P2P) exchange, eliminating the need for middlemen like banks or payment processors. To buy NFTs, users must choose a platform that offers the P2P exchange option.

One illustration is OpenSea, a decentralized marketplace for NFTs. To access the service, users must sign up for OpenSea and connect their wallets, such as MetaMask, which enables communication with the Ethereum blockchain. Once they have a connected wallet, users can browse the available NFTs and purchase them using fiat money or other payment methods.