Non-Fungible Token stands for NFT. It is the digital asset, that is stored securely. It cannot be replicated, duplicated, and immutable. Before explaining how To invest In NFT, let us explore the investment process. NFTs are basically denominated in cryptocurrency. If you want to have cryptocurrency, all you need is to purchase it by connecting with the NFT marketplace.
Initially, you will find it very difficult to know about NFT and the investment process, as a beginner. So, here we explain how to invest and buy NFT briefly
Step 1- Buy Cryptocurrency for NFT purchase:
If you wish to buy NFTs, you need to sign up in the marketplace and buy crypto initially. Before you invest in NFT, choose the best NFT platform and then start to sign up. Here for your convenience, you can invest with the low minimum investment amount.
Here we explain how to buy cryptocurrency before investing in NFTs:
1 – Open an account:
To start trading you have to open an account for trading. For that, you have to enter your email address and choose a username and password for your requirement.
2 – Verify account:
After choosing the username and password, now you have to verify your account. For verification, you have to complete your profile in the account dashboard and also you must complete the KYC. Then you have to upload your ID proof such as passport or driving license, then address proof like the gas bill or residential address proof.
3 – Deposit:
After the verification method, now you have to deposit the required amount by choosing the payment method. You can use your credit/debit cards or e-wallets. Then you are eligible to deposit the minimum amount and confirm the transaction.
4- Buy crypto:
Now, to buy cryptocurrency, you will type the name and can purchase into the search bar and now click trade. Then, enter how much amount you wish to invest and click open trade.
5 – Set up a crypto wallet:
The next step is. you need to set up a crypto wallet that will connect to the NFT marketplace. You can choose any wallet but most of the marketplace support crypto and NFTs. Choose any one as your wish and follow the instructions to set up the wallet.
6 – Transfer holdings to crypto wallet:
Following all the above steps, now you go to the app store or google play and down the best NFT marketplace. Then login to the app and head back to the dashboard. Then click Portfolio, and now you can transfer your cryptocurrency investment over to the NFT marketplace.
After entering into the app, you can see your crypto position in your holdings. Then with the public address of the crypto wallet, you can click send button and type in the address. After clicking send button, you will receive the verification code and then you can enter it to verify the transaction. Once you verified, your crypto holdings will be sent to your wallet.
Step 2 – How to buy NFTs in the marketplace:
After you purchase the crypto wallet and some digital currency, how you are here to make your purchase in the top NFT marketplace. Here we explain how to buy NFTs detailly.
1 – Create an NFT account:
To create your NFT account in the NFT marketplace and click the sign-up button. Then you can enter your personal details to create your account.
2 – Verify your account:
Before you purchase, you have to verify the NFT account. This can be listed below in two ways:
- First, if you already have a trading account, then you can click the ‘connect to app’ button and verify your new NFT account. You will receive the email by clicking the confirm button that it is you which received in the email, now your NFT account is verified.
- If you do not have a trading account, you can also verify your NFT account through SMS. Now you will receive the verification code via SMS by entering your valid mobile number on the setting page. Now enter the code which you received into the setting page and verify your account.
3 -Buy NFTs:
Then the last step is, now you can buy the digital asset you would like to purchase by browsing in the NFT marketplace. Once you found what you have to purchase then click it from the listing page.
Since NFTs will be used either for auction or listing for a fixed price. Once you purchase or won the auction, then the NFT will be automatically transferred to your collectibles account. Now you can view your NFT and also sell it on the secondary marketplace if you wish.
