How To Buy An NFT: A Round-Up of the Best Places To Purchase NFTs

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The logo of OpenSea, one of the leading NFT marketplaces and best sites to buy an NFT on, against a purple background.
February 24, 2022: Updated to include new information about Binance and Coinbase's NFT offerings.

NFTs are among the most discussed topics of 2021, but if you want to buy an NFT, where do you start?

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With new NFT projects releasing every month, more crypto users are buying into the trend. NFTs - or Non-Fungible Tokens - grant a unique identifier to digital items, tokening assets such as art, music, or videos on the blockchain.

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The value of NFT is defined by its intention to deliver "true ownership" to users, allowing them to secure all the rights associated with the digital asset. Here are the possible ways of purchasing an NFT through OpenSea, Binance, and Coinbase.

How to purchase NFT from OpenSea

OpenSea is one of the leading NFT markets that allows users to sell and purchase popular NFTs. The market offers two possible ways through which a user can purchase an NFT from OpenSea.

Via Direct Purchase (Fixed Items)

  • Log in to your OpenSea account and make sure you have a valid crypto wallet address that is approved by OpenSea (MetaMask, Bitski, Fortmatic, WalletConnect).
  • Link your wallet with your OpenSea account.
  • Browse the NFTs listed, select the one that you would like to purchase.
  • Review all essential details (value, collectible and rarity information, specific properties, etc).
  • Click the 'Buy Now' button.
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  • A Checkout window will pop up, fill in the wallet details and proceed ahead by clicking the confirm option.

Via Auction

Certain sellers on OpenSea like to auction their NFTs to get better prices for their items. In such a case, a user needs to:

  • Log into your OpenSea account.
  • Find an NFT that you like, and click on the Make An Offer button.
  • Review the details before proceeding ahead.
  • Once you click on the Make Offer button, OpenSea will ask you to review the transactions before going ahead.
  • Select the currency in which you'd like to make the purchase.
  • Enter the amount of your offer and expiration date.
  • Wait for the seller to accept the proposed offer.

How to Buy an NFT from Binance

Direct Purchase

  • Log into your Binance account and go to the NFT Marketplace.
  • Select the NFT you want a buy. You can filter this by currencies, category, and file type.
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  • Click on confirm to pay the full price.

Buying Via An Auction

  • Log into your Binance account and go to the NFT Marketplace.
  • Select the NFT that you would like to place your offer on.
  • Once selected (after reviewing details on its properties) click on the place a bid button.
  • A pop-up window will open that will ask the user to enter the bid amount.
  • Click on the place a bid button to complete the transaction.

Read More: Binance NFT: How To Buy NFTs On Binance Marketplace

Buying an NFT via Coinbase

Unfortunately, Coinbase does not support NFTs at the time of writing.

However, the concept is in the early development stages and is expected to arrive sometime soon.

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The official Coinbase website has created a waitlist for users to have early access to some of its premium marketplace features before the official launch.

Read More: Best NFT Projects: What Are The Top NFT Projects And Most Expensive NFT Sales?

[Image: Unsplash/Ferdinand Stöhr]