There are two types of solutions that enable users to purchase NFTs with fiat: cryptocurrency on-ramps and NFT checkouts.
Cryptocurrency on-ramps enable customers to top up their existing wallets with cryptocurrency purchased with credit card.
They require users to already have a wallet, and due to regulatory and anti abuse reasons, they must trigger complex KYC verification processes. They also have lower transaction approval rates, as low as 40-50%, as issuing banks have higher decline rates for transactions involving cryptocurrencies. A first-time user may spend 20 minutes to over one hour to purchase an NFT, in addition to the time it takes to create a wallet, and around half will get their cards declined after going through the entire process.
These products enable buyers to directly purchase NFTs using fiat. In the case of Crossmint, even if the buyer doesn't have a wallet, with minimal friction and no cumbersome KYC, and with transaction approval rates of over 95%.
Crossmint was the earliest, and is the most complete NFT checkout in the market. Built by former NFT project creators, and now trusted by the largest number of clients, that range from some of the world biggest NFT marketplaces, to Fortune 500 companies, and of course thousands of individual artists and creators.
Over time, and after hundreds of thousands of transactions, our SDK has been battle-tested and hardened against blockchain unreliability and sophisticated fraud attacks. We also have a sophisticated compliance function, are in good standing with payment providers, run anti money laundering and OFAC sanction checks, and follow best practices in security (we're currently well advanced seeking SOC-2 compliance). We offer the most secure wallet configuration, powered by Fireblocks, so you can make sure the assets of your users are safe. Finally, we offer 24/7 customer support to developers and customers on multiple languages.
Updated about 1 month ago