Table of contents
- What Are NFTs?
- About Coinbase
- How to Buy NFT on Coinbase?
- Final Thoughts
The world of NFTs is indeed intriguing, with all its digital collectibles that can have surprising value. Along with the whole crypto industry, NFTs have changed a lot. From just a few collections to plenty of new projects and airdrops being launched every day, it is no wonder that so many users want to start investing in NFTs.
But how can you buy such digital art? Is there a special place where you can go and look for them? Well, there is. In fact, there are many of them, but some popular crypto exchanges also offer users the opportunity to purchase NFTs on their platforms, and some crypto and NFT enthusiasts believe that it’s a little easier to go on a crypto exchange and look for a digital collectible worth buying.
So, in this article, we will talk about how you can buy NFT on Coinbase, one of the most popular trading platforms in the world and the 2nd largest crypto exchange on the market.
What Are NFTs?
NFTs (Non-Fungible Tokens) are unique pieces of art that are developed, minted, and stored on a blockchain. They are assigned identification codes and specific metadata to prove their uniqueness.
Non-fungible tokens can be bought mostly with crypto, but you may find some ways of purchasing them with fiat. You can find them on specialized platforms called NFT marketplaces. These platforms allow you to browse through thousands of NFTs, read more about a collection of digital collectibles, or even mint NFTs yourself.
At first, NFTs used to be developed only on Ethereum, and they were also part of the ERC-271 standard. However, things changed, as many other blockchains were launched in the past years. These days, an NFT can be developed on any blockchain that uses smart contracts. You may also find non-fungible tokens minted on Solana, Binance Smart Chain, Cardano, Polygon, Tezos, Flow, and more.
Launched in 2012 by Brian Amstrong and Fred Ehrsam, Coinbase has become one of the top choices when it comes to crypto trading platforms. With many products developed, Coinbase aims to provide an all-in-one solution to worldwide crypto enthusiasts.
Whether you are a beginner or an experienced trader, you can find a suitable way to buy, sell, or trade digital assets in no time and with minimal costs.
Coinbase is available almost worldwide and supports over 10,000 digital assets, so the accessibility of the platform is indeed remarkable. Furthermore, Coinbase is available on both desktop and mobile.
Along with the main crypto exchange we know about, Coinbase also offers a crypto wallet called Coinbase Wallet. Besides, if you are an experienced investor, you can choose to trade crypto on Coinbase Advance Trade. This is an advanced trading platform formerly known as Coinbase Pro.
Furthermore, Coinbase recently launched Base, a Layer-2 network that allows developers to build decentralized applications (dApps) that will have immediate access to the entire Coinbase ecosystem, along with its over 100 million users.
How to Buy NFT on Coinbase?
In 2022, Coinbase worked on one more platform that would widen its activity in the crypto space: Coinbase NFT. Coinbase NFT is an NFT marketplace where users can list, buy, and trade non-fungible tokens through a process as simple as all Coinbase-related processes.
So, buying NFTs on Coinbase is quite simple, and we will describe the process step by step so that you can learn how to diversify your portfolio through the 2nd largest crypto exchange on the market.
Step 1: Access Coinbase NFT
Step 2: Sign in
In order to start exploring the Coinbase NFT marketplace, you will have to sign in. To do that, just click on the “Sign in” button from the upper right corner.
Step 3: Connect your wallet
If you want to buy NFTs, you have to hold some coins or tokens in a crypto wallet. And Coinbase NFT will ask you to connect your wallet to access the marketplace. At the moment, Coinbase NFT supports Coinbase Wallet, MetaMask, and WalletConnect, which is a protocol that allows users to connect their crypto wallets to various dApps.
Step 4: Accept Coinbase’s Access to Your Information
Coinbase NFT wants to ensure that you feel safe while trading NFTs, so it explains what type of information it will have access to while you are connected to the platform. In order to move further, you will have to confirm that you acknowledged it.
Step 5: Sign the contract
Coinbase NFT will ask you to sign a contract to access the platform. All you have to do is confirm this step too.
After you confirm this step, you will be redirected to Coinbase NFT.
Step 6: Explore the NFTs available
You can now click on “Explore” to find an NFT you want to purchase. You will have multiple filters you can set up and various categories, such as Trending, Collectibles, Music, Fashion, and more.
Once you find an NFT collection you like, you can choose a digital collectible to buy.
Step 7: Make an offer
In some cases, you have the possibility to purchase an NFT via a third-party platform. If you want to stay on Coinbase NFT, you can choose to make an offer.
You may also find certain NFTs you can buy immediately directly from Coinbase NFT.
Can I use Coinbase to buy NFTs?
Yes, but you will have to access Coinbase NFT. It is an NFT marketplace provided by Coinbase.
How do you purchase an NFT?
You have to hold some crypto, in most cases ETH. Then, you simply have to find an NFT you want to purchase and go on an NFT marketplace where it is listed.
How much does an NFT cost?
The NFT prices vary depending on their creators, the demand for the collection, and how long a digital collectible has been on the market. Some NFTs might cost thousands or even millions of dollars, while others can be purchased for just a few cents.
What is the best NFT to buy on Coinbase?
Coinbase NFT offers plenty of NFT collections you can choose from. If you’re looking for the most popular, you can go on the trending page, where you might find collections such as CryptoPunks, Bored Ape Yacht Club, or Mutant Ape Yacht Club.
The crypto space has come up with so many new products that sometimes it seems a bit hard to keep up with all of them. NFTs may be the crypto products that intrigue most enthusiasts and getting one can help them diversify their portfolios and maximize their winnings.
If you want to buy NFTs on Coinbase, all you have to do is access Coinbase NFT, connect your wallet, and find a digital collectible that meets your expectations. The process is simple and does not require advanced crypto knowledge, as Coinbase is great for both beginners and experienced traders.