nft how to buy

 

The best way to buy an nft is to trade on a crypto exchange. The popular exchanges for trading are Binance, OKEx, and Huobi. On these exchanges you would need to choose which crypto-coin you want to buy and select the price at which it will be available for you to purchase. Once your order has been filled, the coin will be sent straight into your nominated wallet address in a matter of seconds.

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Buying on an exchange is the easiest way for new investors get their hands on some nft coins as it doesn't require any personal information initially. The major barrier of entry is the cost of an nft coin. They are usually sold in increments of $1 - $5 making them incredibly expensive. However, there is a workaround that new investors can use to buy nfts for just a few cents!

The method used is called 'doubling', and it involves using the Stellar network to exchange lower valued tokens into higher valued tokens. In this case we will be using Lumens (XLM), the native asset of the Stellar network, as our base token to buy other ERC-721 tokens.

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For example, if you want to purchase an nft worth $2, you would need to purchase around 2 million XLM. At current prices, that would be around $10. To get around the $10 threshold without feeling too guilty you could buy a token that has a value of around $0.05m - or $5 in total - and double it with another token which is worth the same amount, e.g. USDT - which stands for 'Tether' or 'US Dollar Token'. USDT is the cryptocurrency of the Tether Ltd company which is a fiat-backed stablecoin that can be exchanged for USD on platforms like Kraken, Bitfinex and most other major exchanges.

Purchase USDT with USD and transfer to Binance. Open a position in Stellar on Binance. Use Stellar to send your XLM to the address of the nft you want to buy. Profit!

At the time of writing, $5 will give you 15000 XLM which is enough for one nft purchase. In this case, we will be buying nfts for less than $0.01 per helix since it's not worth spending more than that on a single coin anyway.

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Using this method, you can buy an unlimited amount of coins for less than $10. Some of the most popular nfts are Rare Pepes, CryptoKitties and Goombas from Super Mario Odyssey.

nft how to buy is easy to do with a little know how. If you want to make a profit, it is as simple as trading your nft on an exchange. If you're looking for some unique nfts to add to your collection, look on a dedicated marketplace like OpenSea.

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Related Articles No related articles found. Want to see more articles? Add a comment below! Sign up for the latest news & updates from our community (it's free!) By signing up I agree to receive newsletter updates, consensuses and information related to my personal account from Genesis Global Trading Inc.. Your privacy is important to us. We take your privacy seriously and will never rent, sell or share your information. I agree to Genesis Global Trading Inc's Privacy Policy & Terms of Use Sign up for the latest news & updates from our community (it's free!) By signing up I agree to receive newsletter updates, consensuses and information related to my personal account from Genesis Global Trading Inc.. Your privacy is important to us.