What is NFT?
NFT are non-fungible tokens that are cryptographic assets that cannot be substituted, subdivided, or copied. These are unique to a person and are recorded on a blockchain, which is a public ledger that is distributed digitally and is decentralized. Blockchain is most often used with cryptocurrency and NFTs are a part of that. They are not a cryptocurrency because they cannot be traded for equal value as cryptocurrencies can. NFTs can represent things from the real world such as art and real estate. The tokenizing of these items makes buying and selling them easier with less chance of fraud. They can also be used as a representation of an individual’s identity, and property rights, as well as a lot more things. The NFTs were bought initially because they were soaring in price, but they have leveled out recently. People want to find an easy way to process NFT payments for a while now, and it is becoming easier to do so. There are ways to process the payments that make your life easier.
Blockchains are the easiest way to accept NFT payments and there are many ways for this to work. This article will talk about a few of those ways and give you a little information about each of them. You can also do more research and find out more on your own.
Payment Solutions
- Coinbase
Coinbase has almost one hundred million users making it one of the leading payment solutions. You can invest in cryptocurrencies, as well as earn, spend, and train on this platform. You can use Coinbase as a payment solution or as a way to trade cryptocurrencies. You can get paid in ten different forms of cryptocurrency and that is one reason why Coinbase is so popular.
- CoinsBank
CoinsBank is another popular cryptocurrency payment platform that is a very user-friendly platform. It even has free downloads for the most popular smartphones for you to use. CoinsBank also supports fiat money like the Euro and the United States dollar. You can deposit and withdraw from this platform fairly easily, making it a great business payment solution.
- CoinGate
This payment solution offers the ability to pay using over fifty different cryptocurrencies. It is founded in an effort to make the use of cryptocurrencies more accessible and acceptable. With CoinGate, you can receive crypto payments at real-time market prices. They deal in Euros and not in United States dollars, but that could change in the future.
- ALFAcoins
ALFAcoins is one of the best payment platforms that can accept cryptocurrencies as payment. It also allows you to link your current payment system or website by using API, widgets, or e-commerce plugins. You can learn more about e-commerce plugins here: https://www.wpbeginner.com/plugins/best-wordpress-ecommerce-plugins-compared/. With ALFAcoins, you can divide payments between fiat money and cryptocurrencies. This platform can be used anywhere except North Korea and Iran and can use almost any fiat currency.
- BitPay
BitPay allows you to structure the security levels of the payments for businesses and can be set to low, medium, and high-speed transactions. It also has an authentication feature that other platforms lack. This platform is meant for people who are less technologically inclined because it is easy to set up and use. BitPay is only set up in thirty-eight countries at this time.
- Ripple
Ripple has been around for more than a decade and promises quicker, more secure, cost-effective, and more transparent. They help to facilitate cryptocurrency payments and generate income. You can send money internationally and process payments from anywhere.
- Circle
Circle has had over one hundred million transactions worth over a billion dollars. Circle has tools for managing fraud and lowering the risk of payments. Businesses can access key analytics that is easy to monitor their reports and transactions.
- SpicePay
This platform allows easy and cheap ways to accept cryptocurrencies from anywhere in the world. You can also get payments through PayPal and debit cards and withdrawals can be in almost any currency, although it does take longer for them to process Euros. There are many tools to set up payments and use cryptocurrency payments.
- GoURL
This platform is a great way to accept some cryptocurrency if you do not have a bank account. It works with most Bitcoin wallets and lets you stay anonymous. It has easy integration through its WordPress plugin. This plugin is open source and does not charge a fee for you to use. This platform provides payment breakdowns so that order management is made easy. Although the fees are a little higher with GoURL, you receive your payment in thirty seconds or less.
- Stellar
With this platform, you can save and transfer cryptocurrencies and fiat money. You can use this network to make banking applications, mobile wallets, and smart devices.
These are just a few of the networks and platforms that can use cryptocurrencies and NFTs for your business. They are diverse and can deliver many benefits depending on what you want and need for your business. These platforms can work for your business and for you to accept payments and transfers. Many can take cryptocurrency and exchange it for fiat money for you and your customers.
You need to do some more research to see which of these platforms is best for you and your business and your customers. Only you know what will work best for you and your customers. You might even find other examples that will work better for you if you do some research.
