Introducing “Authorized Sellers” on Nifty Gateway
***Updated February 25th, 2022 to reflect new countries supported
At Nifty Gateway, we are focused on continuing to improve the overall user experience of the platform while providing a safe and secure way for purchasing Nifties. We currently accept all major credit and debit cards, while continuing to offer all of our collectors the option to use cryptocurrency. Facilitating credit and debit card transactions denominated in USD allows us to remain accessible and cater to a diverse and healthy user base. Our growth in the past few months has been tremendous, but with a larger platform comes increased responsibility. While we embrace the open spirit of the blockchain ecosystem, we still have a responsibility to follow the rules and regulations of the legacy financial system and to remain a trusted and compliant platform.
Because of this, we’re instituting a new program called “Authorized Sellers”. We strongly believe that these changes will ultimately provide a better user experience for all platform participants and a healthier secondary market. These simple steps to verify as a seller reduce instances of botting, fraud, and other types of malicious activity on the platform, and allow us to cater to cash out options in a variety of jurisdictions we could not previously service.
In order to sell Nifties on Nifty Gateway after June 15, 2021, you will need to become an Authorized Seller.
We have made the process for getting authorized simple for our users — to get started you can go to your account’s Seller Settings on Nifty Gateway. You will need to provide some personal information and either have an active bank account or debit card to use for cash outs of any proceeds from credit or debit card payments. This information will be sent directly to Stripe, our credit and debit card processor, and will not be accessed, stored, or viewed by Nifty Gateway or its employees.
Once the Authorized Seller system goes live on June 15, there will be some small changes to how selling on Nifty Gateway works. When someone buys one of your Nifties using a credit or debit card, the proceeds will automatically get paid out to your connected bank account within a few days. When someone buys a Nifty from you using ETH or from their existing account balance, proceeds will be paid out like they are today: into your Nifty Gateway account balance, which can be cashed out via GUSD to a verified Gemini account.
We’re currently supporting Authorized Sellers from the following 54* countries:
with more countries on the way soon.
We’re also working on new ways to cash out your Nifty Gateway balance in more countries, as well as more ways to buy Nifties, including bidding or paying with the balance in your Gemini exchange account, or with your self-hosted Ethereum wallet.
If you are unable to complete the process to become an authorized seller, you will not be able to sell your Nifties on Nifty Gateway. You will still be able to use your existing account balance on Nifty purchases, withdraw your Nifties to an external wallet, or cash out through Gemini as normal. This is just the first version of the Authorized Seller program; we’re going to continue to refine and improve the process over the coming months to support users in more countries, and to make all types of cash outs easier for sellers around the world.
Let’s Get Nifty!
