Payment methods & PayPal - Advice

dmitiria1

dmitiria1

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I'm planning to create an NFT sales platform (website). I already have a few interested customers and a planned business model (a friend of mine already runs a similar business).
I'm wondering how I could accept payments other than cryptocurrencies.
My business model will target people who aren't familiar with the cryptocurrency system, so I'd like to allow them to pay in my store by card or PayPal.
Do you know any ways to process such payments without registering a company? Even up to 50k$ monthly.
 
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Accepting card or PayPal payments for an NFT platform without registering a company is not realistically safe or sustainable, especially at higher volumes, because most payment processors require a legal business for compliance, and trying to operate without one often leads to frozen funds or account shutdowns, so the most practical and secure approach is to register a simple company early and use a compliant payment provider that can handle fiat payments for non crypto users.
 
The best option is to set up a company. Company registration is now relatively inexpensive, and in return you can easily open payment gateways and avoid risks such as account suspension or funds being temporarily held
 
impossible without company formation, but nowadays thinks its not a big deal, if you plan to scale up 50k. or an option can find renting services but they mostly take big volumes - from 100k
 
At $50k/month cards without a company won’t last, freezes are inevitable. The only real workaround is using a marketplace or merchant-of-record and accepting lower margins short term.
 
dmitiria1 said:
I'm planning to create an NFT sales platform (website). I already have a few interested customers and a planned business model (a friend of mine already runs a similar business).
I'm wondering how I could accept payments other than cryptocurrencies.
My business model will target people who aren't familiar with the cryptocurrency system, so I'd like to allow them to pay in my store by card or PayPal.
Do you know any ways to process such payments without registering a company? Even up to 50k$ monthly.
Click to expand...
Straight up forget card processing without registering a company.

And then the big question is, will the processor see the NFTs as securities or not.

The mis coding merchants do not care about such things, but even there you need a company and they are prone to burn MIDs and everyone remains without funds, or they just run with the funds.

This is the reality of things.
 
Card or PayPal processing without a registered company isn’t sustainable. Most processors require a legal entity, and workarounds usually end in freezes or account closures.
 
Ill not do that , instead of that i was thinking about 3rd service to accept those payment for example- getting the payment via platform that accepting credit card, and with those user ( which probably will be asked to be verified KYC ) and then all the payment with credit card will be avilabile to be withdraw from the platform to your BA ,or whatever you want to withdraw.
 
Don’t.

Since it’s a nft site you can assume most of the people on there have crypto. Set it up with just crypto and see if it’s viable.

If you make good money then look into this. I would seriously recommend not doing this now because it’s an expensive/complicated process to set up card/paypal payments and you don’t know if it’s worth it yet.
 
dmitiria1 said:
I'm planning to create an NFT sales platform (website). I already have a few interested customers and a planned business model (a friend of mine already runs a similar business).
I'm wondering how I could accept payments other than cryptocurrencies.
My business model will target people who aren't familiar with the cryptocurrency system, so I'd like to allow them to pay in my store by card or PayPal.
Do you know any ways to process such payments without registering a company? Even up to 50k$ monthly.
Click to expand...
That type of business is very risky for payment processors, most won't touch due to the high risk of chargebacks happening.

I've also never seen a NFT Sales platform accept credit card payments it's mostly just crypto offramp / onramp.
 
dmitiria1 said:
I'm planning to create an NFT sales platform (website). I already have a few interested customers and a planned business model (a friend of mine already runs a similar business).
I'm wondering how I could accept payments other than cryptocurrencies.
My business model will target people who aren't familiar with the cryptocurrency system, so I'd like to allow them to pay in my store by card or PayPal.
Do you know any ways to process such payments without registering a company? Even up to 50k$ monthly.
Click to expand...
honestly at that volume you’ll struggle without a company, most processors like PayPal or Stripe will require proper business verification, so trying to bypass that can get your account limited fast
 
Short answer: you’ll struggle to process fiat payments without a real business entity. Most processors (PayPal, Stripe, etc.) require a registered company and proper KYC, especially at higher volumes. The safe path is to set up a simple business (LLC/UK LTD) and use a compliant gateway; if you skip this, funds get frozen or accounts get shut down. It’s not worth the risk to try bypassing it.
 
I have very bad experiences with PayPal, to be honest. It's been quite bad for me... Frankly, for that volume, it's not realistic to operate without a legal structure, and even less so with PayPal, which will ask for fund verification for any little thing and freeze your money.

Furthermore, NFTs are already considered risky in many cases. If you want something stable, you should set up a legal structure from the beginning. You can open companies online quite cheaply in Latin American countries without much trouble. But even then, handling high volumes is quite complicated. I would stick to the crypto world.
 
We don't think it would be possible without a company but if you get a way to do it, please post it.

In any case, having a company (specially if it's not in your home country) would actually be the right strategy for your business. The cost would not be that much and it will simply your life and give you an extra layer of protection.
 
Anything related to Crypto including NFT will require a company and with a license I believe to deal with High-Risk industry like that.
 
Company + emi/bank account + high risk processor or a cloaking set up.
 
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