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How To Buy NFT Tokens
Before rounding off this guide on the best NFT to buy, let’s explore the investment process. As NFTs are denominated in cryptocurrency, you’ll have to buy Ethereum (or a different digital currency) to facilitate your investment. Once you have some cryptocurrency, you’ll need to connect with an NFT marketplace and make your purchase.
The process can seem a little overwhelming at first, especially if you are a beginner. However, to streamline the process, this section will detail each of the steps you need to take to buy NFTs today – all from the comfort of your own home.
Step 1 – Buy Cryptocurrency for NFT Purchase
Firstly, you’ll need to sign up to a broker or exchange and buy crypto to buy NFTs with. We recommend creating an account with eToro for this, as the platform offers over 50 different cryptos to trade, with tight spreads and a low minimum investment amount.
Presented below are the steps you need to take to buy cryptocurrency with eToro today:
1 – Open an eToro Account
Head over to eToro.com and create an account. Enter your email address and choose a username and a password for your trading account.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2 – Verify Account
As eToro is a heavily-regulated broker, new users must verify themselves to gain full access to all of the platform’s features. To do so, click ‘Complete Profile’ on your account dashboard and complete the KYC checks. Following this, upload proof of ID (passport or driver’s license) and proof of address (bank statement or utility bill).
3 – Deposit
Click ‘Deposit’ and choose the payment method you would like to use – eToro accepts credit/debit cards, bank transfers, and e-wallets. Following this, enter your deposit amount (minimum $10) and confirm the transaction.
4 – Buy Crypto
Type the name or ticker symbol of the cryptocurrency you would like to purchase into the search bar and click ‘Trade’. Enter your investment amount in the order box that appears (minimum $10) and click ‘Open Trade’.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
5 – Set Up a Crypto Wallet
You will now need to set up a crypto wallet that you can use to connect to an NFT marketplace. As noted in the previous section, there are numerous wallets that you can use, most of which support crypto and NFTs. Choose one and head to the wallet provider’s website, where you can follow the instructions to set the wallet up.
6 – Transfer Holdings to Crypto Wallet
Finally, go to the App Store or Google Play and download the eToro Money app. Log in to the app using your eToro credentials and head back to your main eToro dashboard. Click ‘Portfolio’ and then transfer your cryptocurrency investment over to eToro Money.
Go back to your eToro Money app, and your crypto position should now be there in your holdings. Click ‘Send’ and type in the public address of the crypto wallet you created in the previous section. eToro will send an SMS to you with a security code, which you need to enter to verify the transaction. Once verified, click ‘Send’ again, and your crypto holdings will be sent to your external wallet.
Step 2 – Connect to an NFT Marketplace and Buy NFTs
Now that you have a crypto wallet and some digital currency, it’s time to find the best NFT marketplace to make your purchase. Crypto.com is not only ideal for buying digital art with no transaction fees, but it is also the best place to sell NFTs too. With that in mind, the steps below will walk you through the process to buy NFTs with Crypto.com:
1 – Create a Crypto.com NFT Account
Go to the Crypto.com NFT Marketplace and click the ‘Sign Up’ button. Enter the required personal details to create your account.
2 – Verify your Account
You will have to verify your NFT account before making your purchase. This can be completed in one of two ways:
- If you already have a Crypto.com trading account, you can verify your new NFT account by clicking ‘Connect to App’ in your settings menu. Following this, you will be sent an email asking you to click the link to confirm it is you, which will ensure your NFT account is verified.
- If you do not have a Crypto.com account, you can verify your NFT account via SMS. Enter your mobile number on the settings page, and you will receive a text with a security code. Enter this code on the settings page to verify your account.
3 – Buy NFT
Now you can browse the Crypto.com NFT marketplace for a digital asset that you’d like to purchase. Once you’ve found one, click on it to be taken to the listing page.
NFTs will either be up for auction or listed for a fixed price. Either way, once you’ve made your purchase or won the auction, the NFT will automatically be transferred to the ‘Collectibles’ section of your account. You can then view your NFT or send it to an external wallet.
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