Here we want to guide NFT lovers and investors on how to buy NFT art on most popular NFT marketplaces.
The popularity of NFTs has significantly increased in recent years. The NFT market has reached over $40 billion valuations at the beginning of 2022 and holds strong to date. NFT marketplaces are influential factors in the development of the market. There are various platforms providing services to NFT enthusiasts based on their interests. Therefore, it seems necessary to learn about NFT marketplaces to satisfy all investment needs.
OpenSea
OpenSea is one of the best choices to buy NFTs. It is the largest NFT platform in the digital world according to its trading volume. Since OpenSea was the first marketplace to bring NFT into the mainstream. Over one million users have been using OpenSea since its lunch. This platform is built on Ethereum blockchain and offers various NFT types, including art, domain names, in-game items, etc.
OpenSea is known to support over 150 cryptocurrencies as a payment method which makes it pretty convenient for NFT owners to buy and sell their assets with different crypto balances. OpenSea charges %2 transaction fee to sellers when their items sell and charges buyers with no costs (though there are standard network fees). Besides, OpenSea supports 14 various crypto wallets and users can easily link their wallets to the marketplace. Also, it is the most popular secondary market for NFT items, especially for gamers. The volume trade in OpenSea reaches about $5 billion per month. Now, let’s learn about trading in OpenSea.
How to buy NFT art in OpenSea:
- Open the OpenSea website and create an account.
- Connect your MetaMask wallet by clicking profile in the upper-right of your screen. If you do not own a wallet you can click Get MetaMask on the menu.
- When you linked your MetaMask account with enough ETH deposit to your OpenSea account. Choose your digital item and make sure to check the transaction fees.
- In your wallet, check the payment method. Submit your payment method and phone number or e-mail address.
- Now, you are ready to look for your desired digital asset in OpenSea marketplace. Explore the platform and find the desired NFT.
- Press the Buy Now button and agree to the terms of the marketplace by choosing Checkout. Then, you receive a message on your screen to confirm the purchase price, including the gas fee.
- You are all done! The NFT is added to your collection now.
Rarible
Rarible is another popular NFT art marketplace for investors. This platform is the home of a vast selection of digital art, photography, games, music, domains and Metaverse items. Rarible stands at the higher end of the cost spectrum as it charges %2.5 fees for both buyers and sellers. However, this platform provides multi-chain support, including NFTs built on Ethereum, Flow and Tezos.
Rarible is different from other marketplaces since it allows users to buy NFTs using their credit or debit cards, which attracts investors from all around the world. It also supports different wallets such as MetaMask and Coinbase. The collection size on the platform is over 400,000 items and the trade volume is ranged about $1 million per month. Here is the guide to buying NFTs on Rarible [4].
How to buy NFTs in Rarible:
- First, log in Rarible or create an account.
- Search the NFT you look for in the top toolbar. Remember to select your preferred currency as NFTs are not available via every currency.
- When you confirmed the currency selection, you need to check the related protocols.
- If you are sure about your choice of NFT, click on it and you go to the sale page of the token. You can see the details of the NFT, like the collection details, the current owner of the piece and its unique properties.
- You may choose to use rarity tools to check the rarity of the piece.
- Once you get sure about the piece, click Buy Now under the sale tab or take part in an auction and make an offer.
Binance
Another successful platform to buy and sell NFTs is the Binance NFT marketplace. This platform, as the name suggests, is run by the largest cryptocurrency exchange in the world, Binance. This platform charges the investors with low fees; investors are charged only %1 transaction fee. Since Binance NFT marketplace offers NFTs on the Binance Smart Chain and Ethereum blockchain, it includes a wide range of digital assets for trading.
Users find Binance easy to navigate and the NFT collections include art, sports, entertainment, gaming, collectibles, etc. Binance also provides an attractive Mystery Box which includes a random NFT. As the users purchase the box, the NFT reveals which can be extremely precious in some cases. The users of Binance exchange can use their accounts to use the Binance NFT marketplace.
At the time being, Binance NFT marketplace allows its users to trade using cryptocurrencies. If buyers have no digital currency, it is easy to buy some through Binance exchange. The platform helps sell NFTs through an auction or for a fixed price. It further allows users to transfer NFTs purchased to external NFT wallets. It is also a favorable place to mint new NFTs at low fees, paid in BNB.
The collection size in Binance NFT marketplace reaches over 100,000 and the trade volume goes over $40 per month. Let’s learn about trading NFTs on Binance NFT marketplace [3].
How to buy NFT in Binance:
- Set up a Binance account. Buy crypto either using your credit card or via a third-party channel. Deposit crypto to your Binance account if you own the crypto on other platforms.
- Use Binance app or website to access Binance NFT marketplace.
- Search for the desired NFT you want to own. remember there is a gaming gallery if you look for game items. Notice the filter functions on the Secondary Market and Mystery Box Market which also show you the sale types as well as details of the piece.
- Once you pick up your NFT, check for sale type since there are auction, fixed price and Mystery box types available. Place your bid for auction type or pay the total price for fixed price sale or mystery box. The NFT is yours then.
How to create NFT on opensea marketplace
Read This Post Follow @nftnewspro Follow @nftnewsproCoinbase
Coinbase is a secure online platform for buying, selling, transferring and storing digital assets. It is easy to use the Coinbase for crypto beginners. Coinbase also supports a large number of cryptocurrencies, such as Ethereum, Cardano, Solana, etc. which makes it easy for users to trade and invest. Coinbase provides a cost list when entering a trade. Trades under $200 are charged a flat fee while trades over $200 have a percentage-based fee.
Over 2.8 million people actively use Coinbase every month while it has 43 million users worldwide. In 2021, it made over 3 billion in profit and its valuation for the year reached $65 billion. Besides, Coinbase has $223 billion worth of assets under management. The total transaction volume of Coinbase reached about $800 billion in the first half of 2021. All the data reveal that Coinbase exchange is very popular among crypto investors.
How to buy NFT art in Coinbase:
- First, you need to download Coinebase Wallet. It is available as a mobile app or browser extension.
- Create an account in the Coinbase wallet and choose a username.
- Buy or transfer ETH to your Coinbase wallet. Always check the Ethereum network fees and set aside some currency for transaction fees.
- Use the Coinbase app or website to use your ETH and buy NFTs. You just need to click Trade tab, browse your NFT and tap Choose Coin. Exchange ETH deposit for the NFT. Pay the fees and you are all set. Now you own a new NFT.
