Unlike cryptocurrencies, NFTs cannot be purchased on open crypto markets. You can make it on the blockchain and build it yourself or buy it on any of the listed platforms for a fee. These specific platforms are called NFT Marketplaces.
The Ethereum blockchain has few notable marketplaces where NFTs can be bought, sold, or traded. One such market is Coinbase NFT Marketplace.
coin base It is a top American crypto exchange platform founded in 2012 by. Brian ArmstrongIt is a centralized platform for crypto investors and enthusiasts to trade cryptocurrencies openly. As a centralized exchange, there are custodial wallets where assets are stored on the platform and non-custodial wallets that hold digital assets off-exchange.
Non-custodial wallets can be linked to Coinbase accounts. Besides crypto trading, we also offer other crypto services such as crypto staking, lending, and a newly established NFT marketplace.
An NFT Marketplace, like any other marketplace, is a public marketplace where NFTs are traded for investment and other related purposes. Purchasing NFTs on the Coinbase Marketplace requires several steps, including adding a wallet and purchasing ETH to purchase NFTs.
The first step ismarket By connecting to a non-custodial wallet. The Marketplace is compatible with three wallets: Coinbase Wallet, MetaMask, and WalletConnect.
If you don’t have a Coinbase wallet, you can easily create one by first downloading the wallet extension and pinning it for easy access. Then you can proceed to create a wallet.
Click the Coinbase extension icon and from the displayed page[Create new wallet]Click a tab.
Then select a preferred username that other users can use to send tokens. The username must be a unique username not used by another user.If you see a red “unavailable” message, your username is already in use by another user. Try different usernames until you get the green “Available” message. Match the little boxes so others can search for your username,[]Click a tab.
Then copy the 12-word seed phrase to back up your wallet. We will check this later. To see these phrases, click the “eye icon” and copy the word. Match the consent box and click the Continue tab.
Make sure you have copied the seed phrase by clicking the first and last words on the following page,[]Click.
On the next page you will have to choose a password to protect your wallet from intruders and third parties.
Check the consent box and click the Submit tab. After that, your wallet is alive.
To add cryptocurrencies to your wallet,[]Click the tab and follow the details below.
NFTs can be purchased directly from Wallet or from the Marketplace. Make sure your wallet is linked to the marketplace and you’re good to go.
part 2
Buy ETH or transfer it to your wallet of choice.
Then you can start searching for the NFT of your choice in the search field in the top left corner of the page.
Once you find something you like, you have two options:Buy Now or Offer to Seller.
“buy now” “make an offertab allows you to participate in open tenders that last for a specific period of time. The work is usually sold to the higher bidder at the end of such bidding.
[]Clicking on the icon will pop up a checkout page in the left corner detailing the NFT’s list price in ETH and other information such as the linked wallet.
[Coinbase Pay ETH ]Clicking on the tab will take you to another page where you will be asked to authorize Coinbase NFT to access your Coinbase account.
Click on the “Authorize” tab to return to your wallet and complete the payment process.
from NFTs[]Clicking on the tab will take you to the offer page on the left side of your PC where you can enter your offer in wETH wrapped Ethereum. You must offer an amount higher than the listed price or its equivalent. You can also choose how many days the offer lasts, from 1 day to 1 month. this is,”How long should the offer last?“
Some NFTs are tagged with neither a sale price nor a buy icon, but you can make an offer to the seller if the offer is suitable for them.
Important things to note
Currently, the Coinbase NFT Marketplace does not have minting functionality. It is the only open marketplace where buyers and sellers can trade NFTs.
When you purchase NFTs from the Coinbase Marketplace, the NFTs are not stored or sent to Coinbase. Instead, it will be sent to the non-custodial wallet of your choice used for payment, such as Coinbase Wallet, MetaMask, or WalletConnect.
NFTs can be bought and sold on the market at reasonable gas prices.
The same steps apply to other wallet options. Payments and gas bills require ETH or weTH.
summary
You can also purchase NFTs from your mobile phone. This can be done quickly via Coinbase’s non-custodial wallet. The procedure is similar to purchasing NFTs directly from the web extension wallet.
Learn more about creating and selling NFTs >> Ultimate NFT Guide
*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Technical writer with a passion for blockchain and all things decentralized world.
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