Nowadays many want to involve themselves with digital assets. Even if it is the tiniest bit of it. NFTs create an opportunity for arts to have a valuable place in the digital sphere. So, making it one digital asset to invest in. The main idea behind NFTs includes buying one gives you complete ownership over that token. Whether it is an image, music, a video clip, or even a game. Hence, on this page, we’ve given you the ultimate guide to buying non-fungible tokens for yourself.
So, if you feel curious about non-fungible tokens, this guide explains everything about how to buy NFTs and crypto arts. We carefully explained how you can buy NFTs across all platforms to make it easier for you to navigate when you want to buy yours. Endeavor to check them through.
Endeavor to see this article on Non-Fungible Tokens (NFTs): Untold Secret You Need To Know 2022
How to buy NFT on Binance – (Guide)
Binance constantly reviews and adds cryptocurrencies that users can trade on the Binance platform. However, currently have not listed NFT, but you can follow the step-by-step guide below to see the ultimate guide to buying Non-fungible tokens by connecting your crypto wallet to a decentralized exchange (DEX) using your Binance account to buy the base currency.
Below is a step-by-step guide to purchasing non-fungible tokens from the Binance platform.
1. Download a Metamask Wallet
You can choose from several crypto wallets within the Ethereum network, however, Metamask looks like the most integrated. Therefore, if you use a desktop computer, you can download the wallet Chrome extension. While, if you prefer to use your mobile phone, you can download the wallet through Play Store or iOS App Store (if available). Just ensure to download the official Chrome extension and mobile app by visiting the official mask’s website.
2. Set Up Your Metamask
The next step involves registering and setting up the crypto wallet (Metamask) through the wallet’s Google Chrome extension or through the mobile app you downloaded in Step 1.
Ensure to keep your seed phrase secure, and also note your wallet address. You will use it later in Steps 4 and 6. Check the support page if you need any assistance.
3. Purchase Ethereum as Your Primary Currency
After you’ve finished configuring your wallet, log in to your Binance account and proceed to the Buying and Selling crypto webpage to purchase Ethereum.
4. Send Ethereum From Binance to Your Crypto Wallet
Once you’ve bought your Ethereum, go to your Binance wallet section and see your balance for the Ethereum you purchased. Now, click on withdraw and fill in the amount you intend to withdraw to your Metamask wallet and other information. Also, set the network to Ethereum, then click on the withdraw button. Afterward, wait for your Ethereum to reflect in your Metamask.
5. Select a Decentralized Exchange (DEX)
Now you have to choose a DEX to make your transaction. They exist several DEXs you can choose from. You just have to ensure the wallet you selected in Step 2 supports the exchange. For instance, if you use Metamask wallet, you can go to 1inch to complete the transaction.
6. Connect Your Wallet
The next thing to do involves connecting your Metamask wallet to the DEX you want to use. You’d use your wallet address from Step 2.
7. Trade Your Ethereum With the Coin You Want to Get
Now, choose your Ethereum as the payment token and choose the NFT as the coin you want to buy.
8. If NFT Doesn’t Appear, Find its Smart Contract
On the other hand, if you cannot find the coin you want on the DEX, you can refer to https://etherscan.io/ and search for the smart contract address. You can then copy and paste it into the 1inch platform. Be cautious of scams and ensure you have the official contract address.
9. Apply the Swap
Once you have completed the previous steps, you can click on the Swap button to finally buy your non-fungible tokens using Binance as a case study.
How to buy nft on Opensea
Opeansea is one of the most popular marketplaces you can buy NFT. Interestingly, we’ve brought you the ultimate guide to buying non-fungible tokens from Opensea. Follow the step-by-step process below. But before you proceed with the step below, endeavour to register and verify an account with the Opensea platform.
1. Click The Buy Button
You can buy NFTs from Opensea in multiple ways. However, for this example, we’ll buy an NFT listed for sale by clicking the “Buy Now” button.
2. Connect Your Crypto Wallet
The next step you see requires you to connect your crypto wallet if you have not done that. Meanwhile, if you already did that, continue to the next step.
3. Choose Your Payment Method
Next, you’d see a prompt to choose if you’d like to pay with crypto or with a debit/credit card. For the ultimate guide to buying non-fungible tokens, we’ll use a card. However, if you prefer to buy using crypto, you’ll have to load your wallet with cryptocurrency.
4. Review Fees
Now carefully review the amount you are required to pay. You will notice that your total appears higher than the listed price for the NFT. This happens due to the network/gas fees plus the processing fee of paying with a card.
5. Enter Your Payment Details
Following that, follow the prompts and enter your information to complete your purchase. If this is your first time using a card, you may need to verify your identity first.
6. Your Purchase Is Complete!
Once you’ve entered all your vital information and clicked on the “Pay” button, you have officially completed your NFT purchase. This also has been written to the blockchain. Cheers on your first NFT purchase!
7. Check Out Your Newest NFT
Additionally, after a few seconds, you can now see your brand-new NFT in your collection. You’ll find your new NFT in your OpenSea profile!
How To Buy NFT On Coinbase
Like in Binance, Coinbase’s centralized exchange has not yet listed NFT. However, you can still buy NFT on Coinbase Wallet. Follow the steps below to see the ultimate guide on buying non-fungible tokens using Coinbase wallet:
Taking it one step at a time
1. Download Coinbase Wallet
First of all, you’d need to download the self-custody wallet of Coinbase Wallet to you will use to purchase your NFT. You either download it as a mobile app or as a browser extension. Download Coinbase Wallet.
2. Choose a Coinbase Wallet Username
As part of the criteria for setting up your Coinbase Wallet, you will need to decide on a username. This username allows other Coinbase Wallet users to send you crypto easily. You can keep your username confidential, but you will still need one to access the account.
3. Securely Store Your Recovery Phrase
When you generate a new self-custody wallet, you’d often obtain a recovery phrase consisting of 12 random words. The recovery phrase is the key to your crypto wallet, therefore anyone with your recovery phrase can access your crypto wallet. So, endeavor to secure your recovery phrase.
We strongly recommend you write them down on paper and store them securely, as well as utilizing Coinbase Wallet’s cloud backup feature. Remember, don’t ever share your recovery phrase with anyone. Coinbase will never request your recovery phrase. And if you lose your recovery phrase, Coinbase cannot help you recover your wallet.
4. Understand And Plan For Ethereum Network Fees
Now, to know the network fees as fees vary based on how busy the network appears. Or based on how complicated the transaction is, and how fast you’d like the transaction to be completed. So, plan to budget some money for the network fees.
5. Buy and Transfer ETH To Coinbase Wallet
Now the best thing to do include buying and sending ETH to your Coinbase wallet. Meanwhile, if you don’t have a Coinbase account, you’ll have to register for one to buy Ethereum (ETH). The ways to transfer ETH to your Coinbase Wallet vary depending on whether you use the mobile app or the Chrome extension.
6. Use your ETH to buy NFT in the trade tab
If you use Coinbase Wallet on your mobile phone, you can buy NFT right in the app. Simply tap “Buy” on the Assets tab. Then click on the “Trade” button, where you can swap ETH for any token that operates on the Ethereum standard called “ERC-20 tokens”.
Now, click “Choose Coin” and select NFT. Enter the amount of ETH you’d like to exchange for NFT. Remember to leave the fees for transaction fees. Verify your purchase and follow the instructions on the screen to conclude.
Best Place To Buy NFT
Among the few brokers and marketplaces exist one of the best places online to buy NFTs. There are a plethora of NFT marketplaces suitable for anyone to register and trade NFT online. A few of them include;
- NBA Top Shot
- Nifty Gateway
Best Apps To Create NFT
They exist some apps that can aid you to create and beautify your digital works before tokenizing them. We call them NFT app creators. Among the best NFT creator apps, creators and artists can design their NFTs before minting. Below we will have listed some of the best NFT creator apps available in the market.
- NFT Creator
- 8bit Painter