MoonPay, a financial technology firm that develops crypto market payment infrastructure, has developed a service that allows NFT traders to purchase digital art and collectibles with cash.
Customers who are investing in cryptocurrency unicorn, which includes prominent NFT markets, may now use the new checkout tool to buy NFTs using debit and credit cards, as well as make payments via Google Pay, Apple Pay, Samsung Pay, SEPA, wire transfers, Faster Payments, open banking payments and ACH transfers.
The news broke in the early hours of Thursday morning. The debut comes only days after Coinbase announced a partnership with MasterCard that would allow customers of its upcoming NFT marketplace to purchase with their cards. Customers of platforms like OpenSea, for example, must first buy Bitcoin and load their wallets with the coin before purchasing NFTs. MoonPay, on the other hand, believes that its new solution will treble revenues for NFT vendors while also allowing for a considerably faster checkout procedure. Ivan Soto-Wright, CEO of MoonPay, said:
“Currently, the NFT market is confined to the hundreds of millions of bitcoin owners [...] by making credit card ownership both simple and rapid, MoonPay's NFT Checkout has just opened the door to billions more people.”
NFT purchases may be made on any blockchain, including Ethereum, Flow, Solana, and Polygon. The link between NFTs and their related blockchain allows buyers and sellers to maintain track of their ownership. Once you've paid with a card through MoonPay, NFTs will be sent to a customer's crypto wallet immediately.
Gas fees will be applied to the entire cost at checkout, with the exception of products connected to more effective blockchains like Polygon, for which MoonPay will cover the gas expenses.
The checkout tool may be used to sell primary and secondary NFTs. MoonPay will take care of primary sales, which include minting a new piece from a new collection, on behalf of the consumer. The NFT buyer will additionally be charged a processing fee of 3.5 percent, or $3.99, by MoonPay.
An NFT collection developed by the World Wildlife Fund has already integrated the checkout option. Meanwhile, pilot versions of the product are being tested by other partners, such as NFL quarterback Tom Brady's NFT platform Autograph.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards