How and Where to Buy NFTs

How and Where to Buy NFTs

Buying NFTs can seem a little daunting when you’re new to the world of NFTs and digital collectables, but it’s more straightforward than you might think. 

People buy NFTs for all sorts of reasons. You might have a picture in your head of a “typical” NFT owner, and you may think NFTs are bought by young, technologically savvy types. But in fact, all sorts of people own NFTs of all ages and walks of life. 

Some people buy NFTs as fans want a sense of ownership over something they love. If you’re a huge fan of a musician, for instance, and you love paying to go to their concerts, then you might well also want to buy an NFT from them. Or, if you’re a football fan with a season ticket and lots of team memorabilia, then buying NFTs can be a great way to collect something meaningful to you.

Other people view NFTs as an investment. They buy NFTs that they hope will go up in value, then later sell them. This can be lucrative, but it’s important to remember that just as with any type of investment, the value of your NFTs could go down as well as up.

Another great reason to buy NFTs is to get access to rewards or perks. Some NFTs act like a special ticket giving you things like behind-the-scenes access to your favourite artists, musicians, or sports teams. You might even get the opportunity to win once-in-a-lifetime experiences, all through owning an NFT.

How to Buy NFTs

To buy NFTs, you’ll need to:

  1. Create a crypto wallet and purchase cryptocurrency – usually ETH for buying NFTs. Most marketplaces will require you to use cryptocurrency to purchase NFTs, though it is also possible to buy NFTs without crypto if you prefer.
  2. Connect your crypto wallet to an NFT marketplace, such as OpenSea. Your chosen marketplace will have instructions on how exactly to go about this. For instance, here are OpenSea’s instructions.
  3. Choose an NFT that you want to buy. It’s important to think about your goals with owning NFTs before making a purchase. If you want to collect NFTs to enjoy supporting your favourite team or artist, then you’ll likely make different purchasing decisions than if you’re looking to invest in NFTs to make money.
  4. Buy the NFT. The marketplace you’re using should make this easy to do. Keep in mind that you’ll need enough ETH to pay the transaction fees to the marketplace, as well as the ETH to pay for the NFT itself.

How to buy NFT with Metamask?

MetaMask is a crypto wallet that you can use to store Ethereum coins and NFTs. The wallet itself is free and you can access it through your web browser or through the MetaMask mobile app. It’s considered a safe, reputable wallet that’s suitable for beginners who are new to the world of cryptocurrency and NFTs.

To buy an NFT with MetaMask, you need to:

  1. Create your MetaMask wallet.
  2. Buy Ether (ETH, the native currency of the Ethereum blockchain) to spend on your NFT, using a crypto exchange (e.g. Coinbase). 
  3. Send your Ether to your MetaMask wallet. You’ll need your MetaMask wallet address for this (you can find this under the “Buy and Send” tab on your account). Make sure you copy the Ethereum address.
  4. Create an account with an Ethereum-based NFT marketplace, such as OpenSea. Connect this to your MetaMask wallet.
  5. Find an NFT you want to purchase and either choose “Buy Now” or make a bid. After using Buy Now, or once your bid has been accepted, make your payment. The NFT will now be yours.
  6. Optionally, you can transfer your NFT to your MetaMask wallet too, using the MetaMask mobile app. To do this, go to the “NFTs” tab, click the “Import NFTs” link, then fill in the details required.

Where to buy NFTs?

There are a number of marketplaces or platforms available where you can trade NFTs. Some marketplaces are huge and offer lots of different types of NFT. Others are dedicated to one specific type of NFT, such as in-game assets. Here are some popular marketplaces you’ll want to check out.

How to buy NFT on OpenSea

To buy an NFT on OpenSea (the world’s largest NFT marketplace), you’ll need to:

  • Create an OpenSea account and link it to your cryptocurrency wallet. You can use ETH, Solana, and USDC to buy NFTs on OpenSea.
  • Find an NFT you want to purchase and click the “Buy Now” button. Alternatively, you can make an offer at a lower price, but be warned that lower bids may not be accepted. 
  • Complete the checkout process. You should then be able to see your NFT under the “Collected” tab of your OpenSea account.

How to buy NFT on Binance

To buy an NFT on Binance:

  1. Find an NFT on the Binance NFT Marketplace and click “Buy Now” or “Make Offer,” or “Place a Bid” for an auctioned NFT.
  2. Check you have enough crypto in your wallet for your purchase or bid.
  3. Click the “Confirm” button in the confirmation popup.

How to buy NFT on Coinbase

To buy an NFT on Coinbase:

  1. Set up a Coinbase NFT Marketplace account and connect your crypto wallet. (You can use a Coinbase Wallet, MetaMask, or WalletConnect.)
  2. Find the NFT you want to purchase.
  3. Click “Buy Now” to purchase the NFT instantly or opt to “Make an Offer.”

How to buy NFT on Rarible

Rarible lets you choose between 3 different blockchains: Ethereum, Flow, and Tezos. You can purchase NFTs using a credit card, as Rarible accepts fiat currencies. Rarible uses “lazy minting”, so if you want to mint your own NFT, you only need to pay the minting fees once it sells.

How to buy NFT on Magic Eden

Magic Eden is the largest Solana NFT marketplace. Some people prefer to use the Solana rather than Ethereum blockchain for NFTs as Solana has a low environmental impact and offsets the carbon created by the blockchain. Solana fees are much cheaper than OpenSea: gas fees with OpenSea are around $30 but only a cent with Solana.

How to buy NFT on Nifty Gateway

Nifty Gateway is well-known for its high-profile NFTs, and has hosted the most expensive NFT sales of all time — “The Merge” series for a total of $91.8 million and Beeple’s “The First 5,000 Days” for $63.9 million. Nifty Gateway is known for celebrity NFTs and lets you pay using fiat currency such as the dollar, as well as crypto.

How to buy NFT art?

Buying NFT art is popular with both art collectors and crypto investors. You can display your purchased artwork in your home, either by printing it or by using a digital NFT display frame, and on social media.

The best places to buy NFT art are OpenSea — which sells Beeple’s famous NFT art — and the specialist marketplaces Foundation.app (invite-only), NiftyGateway.com, and SuperRare.com.

To buy NFT art:

  1. Choose an artist or genre of art that you admire.
  2. Select a work of art you want to purchase.
  3. Create an account with the NFT marketplace selling that artwork (if you don’t already have an account) and link it to your crypto wallet.
  4. Buy cryptocurrency if necessary.
  5. Purchase the NFT using “Buy Now” or make a bid.

How to invest in NFTs

If you want to invest in NFTs, look for:

  • NFTs that are rare within their collection (such as Bored Apes), if applicable. 
  • Seller verification for well-known artists or NFT creators.
  • How other NFTs by the same creator have performed in the past.

NFTs can be extremely valuable due to their uniqueness. NFT art has sold for huge amounts, such as The First 5000 Days by Beeple for $69.3 million.

Keep in mind that NFTs are considered a high-risk investment. They could go up a lot in value, but they could also go down in value.

Next up: How and Where to Sell NFTs

NFTs can sell for huge sums. If you want to sell NFTs you’ve minted or purchased, our next chapter provides a complete guide on How and Where to Sell NFTs.

...OR JUMP TO ANY LESSON YOU WANT