How to buy NFT with Coinbase?
With increasing craze in NFT, most of the cryptocurrency providers have started coming up with their own NFT marketplace. It’s new, so many people find it difficult to understand. NFT marketplace sounds like Facebook marketplace and Amazon but it’s not exactly like that. Once you are through with this article you will have an understanding on how to buy NFT with Coinbase.
Coinbase is one of the most popular platform for crypto and now it is set to release it’s own NFT marketplace. If you are excited you can join their waiting list. This doesn’t mean that you can’t store NFT with Coinbase. You can download Coinbase wallet from App store and Play store and transfer your NFTs. You can learn more on Coinbase wallet here, how to create a cryptocurrency wallet?
How to buy NFT with coinbase ? With the introduction to Coinbase marketplace, Coinbase wants to make sure that their customers have ease of access to NFTs. Having used their crypto platform i am sure they will make it very easy even for new users to mint, showcase, buy and sell NFTs through their marketplace.
Things to know about Coinbase marketplace
Since, it is very new, there is not much information on this. I have tried to gather some points for you to understand what you can do and what you can expect form this new marketplace. Go through the below topics before you learn how to buy NFT with Coinbase :
- With it’s partnership with Mastercard, Coinbase will allow users to buy NFTs using their Debit or Credit Mastercard. This is huge and it removes one of the main pain points in the NFT environment i.e. to have a different Digital currency like Ethereum or Solana in your wallet and use the same to buy NFTs. However, you will still need a crypto wallet to store your purchased NFT.
- The first launch is aimed towards US residents only. So, if you live abroad you will need to wait for some time. But, they will soon plan an international roll out soon.
- You can join the waiting list and to keep it interesting they plan to provide access to the marketplace based on the ranking on the waiting list. Also, they have a refer and earn kind of arrangement. Where, the more you refer the more you rank. So, all the best! Believe me, you will need it as more than 3 million people have signed up for it. 🙂 Now, let’s get into how to buy NFT with Coinbase.
How to buy NFT with Coinbase ?
Since, it is a while before you learn how to buy NFT with Coinbase. To get you used to it, here are a few steps you can follow to buy NFTs from the current providers. Since this article focuses on Coinbase, we will be taking Ethereum as the currency, Coinbase wallet and opensea.io as a platform.
- Purchase Ethereum (ETH) from Coinbase.com. They provide multiple forms of payment method so you can choose whichever you feel comfortable. But, they do have certain limits based on the payment method.
- Transfer the purchased ETH to your Coinbase wallet. You can easily connect your coinbase account to your coinbase wallet. Before you do this you need to understand that there will be gas fees for any crypto transaction. So, make sure you have some extra ETH to pay for gas fees.
- With huge demand of NFTs, there are a lot of marketplace available. As an example we are taking opensea.io. It’s very simple to connect your wallet to OpenSea, Click on ” My profile” and you will find guided instruction to connect your wallet.
- Good job! you are all set. Now, start looking for the NFT you would like to purchase. You will find a lot of them with different price range. You might get some in couple of dollars and some go to Thousands and even Millions.
- There are multiple ways to buy, you can join the bidding session and try to get the best deals or there will be some available for direct purchase.
- Once you are done buying, you will receive the NFT in your wallet. This will remain with you until you decide to sell it.
- How to buy NFT with Coinbase ? Well! there is some time until Coinbase releases the platform. So, make sure to join the waiting list.
All of the above points are not financial advice, it is just meant for educational purpose. Always do your research before getting into Cryptocurrency and NFT. Due to it’s popularity there are a lot of SCAMS going around so be safe. Hopefully this article will in the future help you understand how to buy NFT with Coinbase.
If you have some digital assets, you can learn how to make a NFT here.
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With increasing craze in NFT, most of the cryptocurrency providers have started coming up with their own NFT marketplace. It’s new, so many people find it difficult to understand. NFT marketplace sounds like Facebook marketplace and Amazon but it’s not exactly like that. Once you are through with this article you will have an understanding…