Top 3 Ways to Buy and Sell NFT in India – Tools to Use
NFTs are booming in India recently. They are digital artworks, photos, videos or audio that are purchased with cryptocurrency and use the blockchain system to give proof of ownership to the buyer. Many people want to invest in it and are looking for reliable ways to buy NFT. We have curated a list to show you 3 different ways to buy NFT in India.
Read also | 5 Ways to Buy Things with Bitcoin and Other Cryptocurrencies in India
3 Ways to Buy NFT in India
Before we move on to the list of ways to buy NFTs in India, we would like to point out some basic requirements before buying NFTs.
- You will need a file Ethereum wallet To store your money. You can use wallets like Coinbase Wallet or MetaMask that also store NFTs.
- Gas money (transaction fee) It is required to validate any purchase via Ethereum, so consider gas money before making any purchase. You can visit this link to check current gas prices.
Now, let’s get back to the best ways to buy NFTs in India, here are the top three markets where you can invest in NFTs!
OpenSea is an NFT marketplace that hosts different types of Ethereum-based NFTs that you can buy, bid on, or even create and mint your own NFT. It has a variety of growing and popular options that you can browse with a community that grows larger every day.
They have a wide and different range of NFTs to choose from such as art, audio, domain names, trading cards and various other types of collectibles.
To buy or trade NFT on OpenSea, you will need an Ethereum wallet as mentioned earlier such as a MetaMask or Coinbase wallet. OpenSea in general is a great market especially for buyers of popular or rare NFTs.
2. Binance NFT
Binance is a prominent cryptocurrency exchange but recently added a marketplace for NFT. It features different classes of talented creators and also has mysterious NFT chests and is the first platform to feature IGO (In-Game View).
NFT IGOs are game-only NFTs that feature early access to games, exclusive in-game items, or full games.
It also features NFTs based on BNB or BUSD along with Ethereum which are relatively less expensive and gas money much less than Ethereum. You can even transfer your BNB and BUSD funds from WazirX to Binance. All of these options make Binance ideal for new investors.
3. The Tenth Minister
WazirX is one of the famous crypto exchanges in India and they came up with their NFT platform a few months ago called WazirX NFT.
The distinguishing feature of this market is that it houses some great hidden talents from India and you will find amazing works of art from these Indian artists. If you are just an art enthusiast, you will definitely invest in these NFTs.
Like other platforms, you can create or buy an NFT, buy or bid in an auction, but it also gives a certain freedom to its creators by letting them decide the terms and conditions of the sale.
WazirX uses WRX tokens for NFT transactions. This token is based on BSC (Binance Smart Chain) which is an alternative to Ethereum which is the only currency that you can use to buy NFT on this platform. You can still connect your wallet like MetaMask and transfer money then transfer it to WRX.
How to buy NFTs
NFTs are available as fixed-price purchases or at auction. You can bid on your price and take that amount off and lock it in the market. If you win, you will receive your NFT, or if someone else wins, the amount will be returned to your wallet.
This ends our list. All three of these markets come with unique features and offer something different for everyone and we hope to help you explore different ways to buy NFT and find some great options to browse and choose for your investment.
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