How to Buy an NFT?

How to Buy an NFT?

[Music]does crypto jogging scare you are youafraid of trading simply because of thefear of the unknown well let’s take alook and see if we can make it a littleeasier hello i’m rachel jones and you’rewatching calcane media[Music]one of the things that prevents manypeople from getting involved withcryptocurrency and nfts is theintimidation factor by now most peoplehave heard of non-fungible tokens ornfts while the coveted lockdown periodhas forced people’s worlds to becomemore insular their view of the digitalworld has expanded to includecryptocurrency and this year especiallynftsbut how do you go about purchasing annft let’s break it downfirstly let’s look at what an nft is anon-fungible token is a digital filewhich can carry anything from art tovideos to music these digital files areoften collectibles and have a monetaryvaluenfts are kept on a blockchain usuallyethereum which means that most nfts canonly be bought with ethereum the conceptof nfts is a digital ownership the valueof something is whatever we all agree itholds nfts are no differentso how do you buy an nftwell the first step involves purchasingan ethereum based wallet nfts arepurchased from nft markets but to accessthese markets you’ll first need anethereum based wallet metamask is anexample of such walletnext up you need to purchase etherthe vast majority of nfts are availableon the ethereum platform which means theuser will need to purchase ethereum’snative token ethereum can be purchasedon almost any exchange from binance oretoro to coinbasenext up you have to transfer ether toyour walletnow following that you can choose an nftmarketplace and then finally it’s timeto purchase the nft of your choice nowmost marketplaces hold auctions whereusers can submit a bid for an nft theywould like to purchase buying an nftfrom the primary marketplace increasespotential resale value directly afterthe product goes on sale one of the mainissues with buying an nft from a primarymarketplace is it’s hard to estimate thedemand for the art so with that let uslook at the nft outlook well 2021 hasbeen a marvelous year for nfts variousartists have found a way to sell theirart utilizing this new medium previouslyit’s been difficult to verify theauthenticity of a digital artwork nftsclear that problem up if the demand forcollectible art continues nfts willcontinue to soar now if you like thisvideo please subscribe to the channeland press the bell icon fornotifications for our latest videos thisis rachel signing off for calkin mediayou

Leave a Reply

Your email address will not be published. Required fields are marked *