Why should I buy an NFT from an NFT marketplace?
NFTs are created by artists and then minted on a blockchain.
More often than not, when you buy an NFT it’ll be on the Ethereum blockchain as it’s the most popular NFT blockchain.
But other blockchains are rising in popularity, such as Binance Smart Chain and Solana.
When you buy NFTs, you’re essentially giving the artist that created the NFT money.
In exchange, you’ll be sent the token that represents ownership of the NFT.
If you buy an NFT that unlocks additional content, like you see with music related NFTs, then you’ll also be given a way to access that content.
It’s a major decision to buy an NFT from an NFT marketplace, and it’s one that will make you an early adopter of the NFT technology.
So, if you do buy NFT from an NFT marketplace, then you’re becoming a pioneer!
Think of buying NFTs from NFT marketplaces like you would buying art.
Sure, your NFT might not be a Van Gough or a Picasso, but it’s just as valuable, to the right collector!
Just pick the right NFT marketplace and you’re more than halfway there already!
What do I need to buy NFTs from an NFT marketplace?
Before you can buy NFTs from an NFt marketplace, you’re going to need a few things.
Don’t worry, you won’t be needing anything too complicated, just your regular crypto items!
First up, it’s worth noting that not all NFTs live on the same blockchain.
As a result, the best NFT marketplaces will have different markets for different blockchains.
This means that depending on the NFT you’re buying, you may need a different cryptocurrency.
Ethereum is still the most popular blockchain for people to mint NFTs on, so more often than not you’ll find that you need ETH.
You can also buy NFTs that have been minted on Binance Smart Chain and Solana.
When you’ve found the crypto that you’re going to use, you’ll want to move it to the wallet you’re going to use.
MetaMask is the best option here as it’s a browser extension and works flawlessly with all of the best NFT marketplaces.
But once the NFT is in your MetaMask wallet, it’s a good idea to move it to a more secure hardware wallet.
Other than that, all you need is a computer and access to the internet!
Let’s go buy NFTs from the best NFT marketplaces!
How do you buy NFTs from NFT marketplaces?
Now you’re ready to buy NFTs, it’s time to learn how you go about buying an NFT from one of the best NFT marketplaces.
To begin with, you need to make sure that you’ve got a crypto wallet with some ETH, BNB or SOL in it.
Depending on which NFT you want to buy and the blockchain that it’s on, you’ll need a different cryptocurrency.
The best wallet to use to buy NFTs is MetaMask as it’s a nice browser extension and is simple to use.
Make sure your crypto of choice is in this wallet and you’re ready to head to an NFT marketplace.
There are hundreds of NFT marketplaces to pick from, but these are the best NFT marketplaces.
When you’ve picked an NFT marketplace to buy your NFT from, go ahead and load the site.
Once you’ve opened the site up, make sure that you connect your wallet.
You can either do this by hitting the wallet icon, creating an account or by using a popup.
The steps to connect your wallet will vary depending on the NFT marketplace that you’re using, but they’re all fairly straightforward.
You’ll get a popup asking you to confirm the pairing and all you need to do is hit accept.
That’s it, you’re ready to buy NFTs.
Then all you have to do is find an NFT that you want to buy and open up the listing.
You can then opt to buy now or make a bid.
If you opt to place a bid, you better hope that you have the highest bid, otherwise you’ll miss out on that NFT.
That being said, opting to place a bid on an NFT is a great way to buy NFTs at a lower price!
Where are the best NFT marketplaces to buy from?
If you’re still looking for the best NFT marketplace, then you’re not alone.
There are hundreds of NFT marketplaces out there, so picking the right one to use can be a challenge.
But, that’s where we step in.
We’ve used every single top NFT marketplace there is, so we know all the pros and cons of each one.
We are carefully crafting detailed reviews and guides of the best NFT marketplaces based on a whole raft of criteria.
When we create our reviews, we look at trustworthiness, range of NFTs, ease of use, design and support to name a few data points.
In our opinion, these are the best NFT marketplaces that currently exist.
Is it best to buy from an NFT marketplace on auction or instantly?
Just like you see on other shopping marketplaces, you’ll find buttons to make your actions.
For NFT marketplaces, these are “buy now” and “make offer”.
These are the 2 buttons that you can press to interact with the NFT marketplace that you’re using.
If you’ve ever used eBay, you’ll already understand the concept.
But, just in case that’s still French, we’ll run you through the difference between “buy now” and “make offer”.
If you hit “buy now”, you’re going to pay the price that the NFT owner has laid out.
This is often considerably more than the NFT is worth at auction, so you will end up paying a premium, especially on an NFT that doesn’t really have many views.
If there’s a piece by a popular NFT artist and the “buy now” price is reasonable, it’s a great way to snag a deal on a hot NFT.
The “buy now” price is set by the seller and is what the seller believes the NFT to be worth.
For larger artists and well-known figures, it’s often wise to pay this as the price will easily be 10x higher if you let the auction timer run on.
Now, on the other hand, you’ve got the “make offer” option.
This lets you name your price for the NFT in question.
All NFTs are listed as auction items, but they also have the buy NFT now option.
If the NFT is by a lesser-known artist and the buy NFT now price is wild, you can score some nice discounts by using this feature.
Most NFT auctions last for between 7 and 14 days, meaning that you may have to wait a while before your bid is the winner.
You’ll also have to pay attention and keep checking back to make sure your bid is still the highest.
On the other hand, if the NFT is from a big artist, the prices can get well into the millions of dollars range.
If you’ve got the cash to get involved in one of these bidding wars, make sure that you’re on top of your game and that you keep outbidding the competition.
If you stay strong and have deep enough pockets, you’ll be able to win the biggest and best NFTs for your personal collection.
There you have it.
That’s the difference between “buy now” and “make offer” buttons at NFT marketplaces!
How does an NFT auction work at the best NFT marketplaces?
If you’re wondering how an NFT auction works at one of the best NFT marketplaces, then you’re in the right place.
NFT marketplaces function very similarly to eBay, in that you place an NFT for sale and people can bid on it.
The NFT auctions will last for anywhere between 7 and 14 days, giving people ample time to place bids and help pump up the price of NFTs.
To bid on an NFT, all you have to do is connect your wallet and say how much you’ll happily pay for the NFT.
Your bid will then be logged, and the lowest possible price will be shown.
Let’s say you want to buy NFT that’s on sale and you bid 1 ETH, but the current bid is 0.1 ETH, your bid will come in at 0.11 ETH, which will be the lowest possible to win.
Bids will then automatically be placed on your behalf up to your max price, so you can sleep easy at night knowing that you won’t lose out on the NFT of your dreams.
Once the auction timer hits 0, the highest bidder will win and the NFT will be sent to their wallet.
Pick the best NFT marketplaces!
There are hundreds of NFT marketplaces around and picking the right one for your needs and desires is critical.
If you pick a dodgy NFT marketplaces you’ll end up with a bad taste in your mouth, and we don’t want that.
That’s why we vet every single NFT marketplace that we recommend.
To make the list, we make sure that we’ve tested the NFT marketplace as a buyer and seller from numerous different angles.
This means you can list and bid on NFTs without fear or panic.
Go forth and buy NFTs from the best NFT marketplaces!