How to buy NFT ?

You can buy NFT (Non-fungible token) at a dedicated NFT marketplace such as Binance NFT or OpenSea. For most NFT marketplaces you need to have a cryptocurrency wallet, where you need to send yourself cryptocurrency to pay for your NFT. One of the most popular cryptocurrency wallets is Metamask, which can be easily installed into Chrome internet browser as a plugin. Check out our tutorials below.

Buying NFT on Binance NFT Marketplace

In order to buy something on Binance NFT Marketplace, you must have an account with Binance. 

How to get cryptocurrency to buy NFT

To get us started it is necessary to deposit funds into the account and exchange them for either Ethereum, Binance Coin or Binance dollar. We’ll show you how to do it right now. First, open your wallet and choose to make a deposit. From the menu, select fiat currency deposit. Now you have to choose the method of deposit, it is generally better to send money to a Binance account by bank transfer, as it is free of charge. In case of card payment you have the money in your account immediately, but you pay a fee of 1.8 percent. Then you will need to exchange Euros into one of the currencies with which you can pay on Binance NFT being Ethereum (ETH), Binance Coin (BNB) or  Binance Dollar (BUSD). 

Buying an NFT

At Binance NFT Marketplace you can easily check how many currencies you have on your profile. If you want to buy a specific NFT and it is, for example, an auction, you can submit a bid. In the window you will always see how much of specific currency you have. If you won the auction, the appropriate amount of currency would be deducted and you would get the NFT you were bidding on. You can also resell the NFT for the price you set.

Minting at Binance NFT Marketplace

Eventually you will also be able to create your own NFTs on Binance NFT marketplace. This process is called Minting. Now, however, this option is intended only for artists who have been pre-selected by Binance within the 100 creators and innovative creators programs.

100 Creators programme

As part of the 100 Creators programme, you can buy works from selected world artists, where for example the Czech Republic is represented by the artist Julius Reichel.

Featured by Binance NFT Marketplace

It is also worth mentioning that Binance also launched a second platform called Featured by Binance, where you can also buy NFTs but this is not a curated marketplace. In this case, it is necessary to attach a Ethereum wallet. For example, MetaMask wallet, which you get by installing a plugin in Chrome. A link to the plugin can be found in the description of this video.

Buying NFT on OpenSea

To buy an NFT on OpenSea first you need to register an Ethereum cryptocurrency wallet. One of the most used crypto wallets is Metamask, which works as a plugin in your Chrome browser. Please see the video below on how to register a Metamask wallet.

Depositing cryptocurrency on Metamask wallet

To buy NFT on OpenSea marketplace you will need to first deposit money on some of the cryptocurrency exchanges such as Coinbase or Binance and exchange it for cryptocurrency Ethereum. One of the easiest ways to deposit Ethereum in a Metamask wallet is to deposit money in a Binance account and then exchange it for Ethereum. After that you will need to copy your Metamask wallet address and input it on Binance as a recipient when withdrawing Ethereum from the Binance account. After you send Ethereum from the Binance account to Metamask, you need to wait for the transaction to be validated (usually up to 15 minutes) and after that you will see Ethereum in your Metamask wallet. Buying fixed-price NFT Once you have Ethereum in your Metamask wallet, you can buy NFT. Log in to the OpenSea platform with your Metamask wallet. Once you have found the NFT you want to buy, click on the “Buy now” button. Then follow the prompts in your wallet. See the step-by-step tutorial by OpenSea below.
Once the transaction is complete, the item will transfer to your wallet and the seller will receive the funds. After you made the purchase you can see your NFT in your wallet by returning to your profile and clicking on “In wallet” on the left side of the page. There can be a delay before the NFT is visible in your wallet due to transaction processing time.

Making an offer for NFT

You can also try to buy NFT by making an offer. You can do so by clicking on the “Make offer” button on the NFT page. 

In case the collection you are buying the NFT from is not safelisted, you will be asked to review collection details and confirm that it is the right collection.
Now you can choose a currency in which you would like to make an offer. If you prefer to make an option in Ethereum (ETH), you will see an option with the symbol WETH.
In case the item you are buying is a Polygon item, you will instead make an offer in Polygon ETH (you will recognize it by the purple Ethereum logo).
Making an offer for NFT on OpenSea 5
You can now enter the offered amount for the NFT in the specific currency and when will the offer expire. To confirm the offer now select “Make offer” and again confirm this transaction in your wallet.
You can view all your active offers linked to your wallet on your profile in the left menu section under “Offers”.
If you are purchasing an NFT in a certain currency e.g. WETH for the first time, you might be asked by OpenSea to pay network transaction fees (so called “gas fee”). If you have previously enabled your wallet for trading, the offer will be made for free.
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