Pablo has been trying to buy an NFT for some time. He loves baseball, and has watched the recent growth of Non-Fungible Tokens with interest. He wants to get a digital baseball-card that’s completely unique. He believes it’s a great investment, but also simply likes buying cool new things with new technology. The NFT landscape is confusing for many people, but as an early-adopter, Pablo believes he’s getting into something that could have huge growth. He doesn’t really know if his Curt Schilling NFT will be worth loads more in the future, but he doesn’t really care. He just wants it.
However, actually buying the NFT isn’t as easy as he’d hoped. Even though he has some BTC to spend on it. Pablo already bought his first NFT a few weeks ago, and what was supposed to be a simple process became stressful (and expensive). In a minute, we’ll look at why. But first, you might be wondering what an NFT even is…
What is an NFT?
An NFT is a non-fungible token. If that hasn’t helped you much, you’re not alone. The simple way to think about it is like this: It’s a unique digital item that’s built on the blockchain. It could be music, artwork, a video game item, or indeed a baseball card. Some call NFTs the future of asset investment, and while they probably won’t replace physical artwork, they are definitely growing alongside them.
Someone recently “bought” the very first tweet for millions of dollars. They now own the digital NFT of a piece of internet history. Not all NFTs are that expensive, though.
Why buying NFTs with Bitcoin can be stressful
When Pablo bought his first NFT a few weeks ago, he held BTC. This wasn’t as easy as he thought it would be. The price was quoted as 0.073 ETH. He had to get his calculator out to work out what that meant in a currency he could understand (dollars) as he has to convert his BTC to ETH for this transaction. By the time the transaction had completed (only a few hours) and he received his NFT—the price had moved a bit. BTC is really volatile, as you probably already know. So BTC he converted to ETH ended up costing a fair bit more in USD terms than he thought.
Not only that, but a few weeks later, Pablo checked the price of BTC again. That is worth even more! Why did he “waste” it on an NFT that hadn’t gone up anywhere near as much in price? If only Pablo had used a different currency for his NFT purchase.
How SameUSD makes buying NFTs much easier
Now Pablo wants another NFT—that baseball card. Only he knows he doesn’t want to spend his BTC on it. He’s holding that. He recently found out about SameUSD and was delighted to realize the vendor accepts it for NFT purchases. He knows that SameUSD will always equal $1. So when making his purchase, he doesn’t have to worry about a rapid price movement before the transaction is complete. He also doesn’t have to worry that he’s wasting potential future gains by spending a digital currency right now. While the USD can indeed fluctuate, the volatility is minimal—especially when compared to BTC and other cryptocurrencies.
Now Pablo can buy his NFT baseball card with complete confidence. Using SameUSD, the whole process was easy to understand and stress-free. That’s why more and more people are using stablecoins like SameUSD to buy NFTs.