NFTs are relatively new to the crypto market and yet more people are gushing over them or sporting the picture of an ape as their profile picture to flex about their newly acquired NFT. Also known as the non-fungible token, the NFTs are gradually entering every industry, be it photography or games. At the same time, there are new marketplaces or platforms like OpenSea where people can buy, sell or trade NFTs. While some platforms have slow transaction speed, others charge a lot but have good speed. So, when you are finding it hard to decide where to trade NFT at a low cost, your best shot would be at Binance NFT.
As the largest centralized marketplace for NFTs, Binance NFT lets you browse, buy and trade various kinds of NFTs like virtual land, in-game elements, artworks, photos, GIFs etc,, at just 1% of the trading fee. You can buy digital collectibles created by globally acknowledged artists, content creators, and indie influencers. So, let’s have a look at how you can buy NFT easily in the following steps –
1. Top Up Crypto Wallet
Binance Coin (BNB), Binance USD (BUSD), and Ethereum (ETH) are the three types of cryptocurrency accepted on Binance NFT and as it is a segment of the larger ecosystem of Binance, you will be able to buy crypto and top up the wallet on this platform. To purchase crypto –
• Sign up to create a Binance account
• Buy crypto with debit or credit card, through third-party channels or on Binance P2P
• Deposit crypto on Binance account –only applicable to crypto holders using another platform for cryptocurrencies or planning to purchase crypto through the third-party channel.
2. Find Binance NFT On Browser Or App Store
Once you get any of the above-mentioned three currencies on account, there are two ways for accessing the marketplace of Binance NFT –
a. Through Binance App –On the homepage of the app, press ‘More’ followed by “Binance NFT” under the “Trade” section.
b. Through Desktop Browser – Choose the NFT option at the top corner of the homepage of Binance.com and enter the marketplace.
3. Find The Suitable NFT
Before you start purchasing the NFTs, here are the tips to choose the best NFT from the plethora of choices –
- Gaming enthusiasts can check out the gaming gallery by choosing “Gaming/ IGO” at top of the homepage where the NFT games collections, as well as upcoming airdrops, are listed. By clicking on any games project, you can get to the collections page.
- Use the filter on Mystery Box Market or secondary market to browse through NFTs based on categories, collections, NFT types, sales, etc.
- There are recommended collections alongside trending NFTs and creators on the homepage.
- Check out ranking boards from the marketplace page to find trending NFTs, creators, and collections.
4. Buy NFT That You Have Chosen
Once the NFT is chosen, the following three formats depending on the seller or creator will be there to buy NFT –
- Bid For NFT Through Auction –On the listing page, click on “Place a Bid”, enter the amount and choose “Place a Bid”. Check minimum markup. Once a bid is placed, the confirmation screen opens and the highest bidder gets the NFT when the auction closes. You cannot cancel bids as funds are locked until the auction ends or a new bid is placed.
- Get Fixed Priced NFT –On the listing page, select “Buy Now” for paying the total price. A pop-up window opens with the amount and selects “Confirm” for completing the purchase. On successful payment, another pop-up window opens with successful purchase confirmation. Select “Collections” from the pop-up screen for viewing the NFT purchased.
- Get NFT Mystery Box –Normal (N), Rare (R), Super Rare (SR), and Super Super Rare (SSR) are the 4 kinds of NFTs that you can get as a surprise once you open a Mystery Box. From the Mystery Box listing page, select “Buy” for purchasing a box with the fixed price. The pop-up window opens with order details and chooses “Confirm” for completing the purchase. On successful purchase, check Collections from Mystery Box from User Center or select “Collections” from the pop-up confirmation screen to check the unopened Mystery Box.
To open Mystery Box, choose the Mystery Box from “Collections”, followed by “Click to Reveal” once directed to the product page. Select “Open Box” and see the NFT unboxed.