Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Cryptocurrency

(Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images)

By Savannah Young Leaders Staff

Savannah Young

Savannah Young

News Writer

Savannah Young is a news writer for Leaders Media. Previously, she was a digital reporter for WATE Channel 6 (ABC)...

Full bio


Learn about our editorial policy

Aug 8, 2022

Buy Now, Pay Later For Crypto

A popular online buying option is entering the crypto market.

Many companies offer the buy now, pay later option to buy your items and pay for them later, typically offering little to no interest.

Decentralized lending protocol Teller, which is based on the Polygon platform, is offering the opportunity to make a down payment and take out loans on non-fungible tokens (NFTs) and pay them off over time, according to a report from Decrypt.

An NFT is a digital asset that links ownership to unique physical or digital items, such as works of art, real estate, music, or videos. With this new option, if you seek to purchase a NFT, you have to put 25% of the total price down up front and then after that you can pay in installments, explains a report in Bloomberg.

The founder and CEO of Teller Ryan Berkun said the service provides NFT enthusiasts with access to affordable financing to buy some of the priciest NFTs like Bored Ape, Mutant Ape, Adidas Originals: Into the Metaverse, Doodles, Meebits, and Azuki.

With most buy now, pay later buying options, the loan you are using is with the company. But with the NFT and cryptocurrencies it is a bit different. It is an individual to individual transaction rather than individual to company. If you are looking to purchase a NFT in installments, there will have to be a lender willing to agree to lend the NFT, so the loan would essentially be with the lender of the NFT and not a major company.

“Buying NFTs is one of the core things Web3 consumers want to do right now,” Berkum told Decrypt. “Buy now, pay later is a no-brainer.”

With the volatility of the NFT and cryptocurrency market, many people are skeptical. If NFT collections see a fall in value, buyers may choose to stop making payments on the loan and could cause many problems.

Home / News / Buy Now, Pay Later For Crypto
Share
FacebookTweetEmailLinkedIn

Related Stories

FTX Asks For Donations Back

by Savannah Young Leaders Staff
Cryptocurrency

4 hours ago

Former FTX CEO Sam Bankman-Fried was the Democrat Party’s second-largest donor and now the company is asking for donations back

Bankrupt crypto exchange FTX is sending requests, seeking the return of political donations.

Key Details

  • Former FTX CEO Sam Bankman-Fried and FTX Digital Markets Co-CEO Ryan Salame were major political donors during the last election. Now, the company is asking for the money back.
  • Bankman-Fried was the Democrat Party’s second-largest donor with $37 million in donations, while Salame was the Republican Party’s 10th-largest donor with around $19 million in donations.
  • FTX faced a very public bankruptcy filing and is now contacting "political figures, political action funds, and other recipients of contributions or other payments” to take back donations.

Go deeper

FacebookTweetEmailLinkedIn

Washington’s Crypto Crackdown

by Savannah Young Leaders Staff
Cryptocurrency

5 hours ago

After continued downfalls in the cryptocurrency sector, policymakers in Washington, D.C., have turned hostile on crypto, and many fear an oncoming crypto crackdown

After continued downfalls in the cryptocurrency sector, policymakers in Washington, D.C., have turned hostile on crypto, and many fear an oncoming crypto crackdown.

Key Details

  • Cryptocurrencies are very volatile, and between the major falls of different coins last summer and the downfall of FTX, policymakers have turned hostile on crypto.
  • The White House has been declining many different businesses associated with cryptocurrencies suggesting that a crypto crackdown could soon be on the way.
  • The crypto-friendly bank Custodia was denied its request to join the Federal Bank after the company believed it would be accepted. The Fed also warned banks that they will need permission to do anything crypto-related.

Go deeper

FacebookTweetEmailLinkedIn

More EVs Qualify For Credit

by Hannah Bryan Leaders Staff
Public Policy

5 hours ago

EV tax

More crossover SUVs will qualify for the electric vehicle (EV) tax credit after an announcement from the Biden administration.

Key Details

  • General Motors and Stellantis officials have been lobbying for changes to the EV tax credit issued last year. 
  • While the tax credit was intended to incentivize EV purchases, many popular EV models were excluded from the legislation. 
  • This change came about by redefining what vehicles are considered sport-utility. 
  • The Inflation Reduction Act initially provided a tax credit to SUVs priced above $80,000. Passenger-car customers did not receive a credit if the vehicle cost less than $55,0000. 
  • The change is retroactive to January 1, allowing buyers who already made a purchase to claim the credit.

Go deeper

FacebookTweetEmailLinkedIn
surveillance
Company Culture

6 hours ago

Employee Surveillance Hurts Employers

by Hannah Bryan Leaders Staff
Federal incentives are helping push people to buy electric vehicles (EVs) and boosting battery production in the U.S.
Business

6 hours ago

The U.S. Encourages EV Battery Production

by Savannah Young Leaders Staff
Wood
Markets

6 hours ago

More Predictions From Cathie Wood 

by Tyler Hummel Leaders Staff

Recent Articles

Entrepreneurs

13 hours ago

Here’s a Step by Step Guide on How to Start a Podcast

Eliminate confusion, create a podcast in 15 detailed steps

Wealth

Feb 3, 2023

The Most Landlord-Friendly States in 2023

Invest in landlord-friendly states to make more profits

Productivity

Feb 2, 2023

7 Tips to Stop Procrastinating and Eat the Frog for Enhanced Productivity

Get more done using this mental methodology

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com