In 2021, NFT began to dominate the crypto market, attracting the attention of many users. If you are suddenly interested in the topic and want to embark on your first digital collectible purchase, fear not - it's a simple process with a little guidance.
Here's a step-by-step description of how to buy NFT:
Create an Ethereum-compatible crypto wallet and secure some ETH as a starting point. You can buy ETH on exchanges such as Coinbase and transfer it to your decentralised wallet in the Coinbase main app or Coinbase Wallet (available separately in the Apple App Store or Google Play).
Set up your wallet by following the simple instructions. Your wallet serves as a secure place to store cryptocurrency, send or receive it, and serves as your 'gateway' to the expanding universe of crypto apps. Alternatively, you can use the Chrome extension to link Coinbase Wallet to your web browser if you prefer to view NFT on your computer.
There are many NFT markets such as Rarible and OpenSea. This guide will focus on Coinbase NFT, a Web3 social marketplace that functions similarly to decentralised eBay. To connect your wallet to Coinbase NFT, visit nft.coinbase.com, click "Login" and follow the instructions and instructions to set up a connection.
Start exploring! NFT prices range from virtually free to hundreds of thousands of dollars or more for rare items. Some NFTs are auctioned off, while others can be purchased instantly with the 'Buy Now' button.
Keep in mind that even if an NFT is free or inexpensive, a commission must be paid to complete the transaction. All digital collectibles on Coinbase NFT use the Ethereum blockchain, and the network charges a 'gas' fee for transactions such as NFT sales. Commission prices fluctuate depending on network activity.
Choose an NFT that catches your eye and make sure you have extra ETH to cover the associated commissions. Once you have made a purchase, you can access the NFT through your crypto wallet until you decide to sell it.