Where to Buy NFTs: The Top 3 Largest Marketplaces to Buy

NFT stands for a non-fungible token, and the word non-fungible means that each token is unique and can be replaced or exchanged with something else. Take Bitcoin, for instance, the digital currency asset is considered fungible as you can trade one Bitcoin currency to another as it has the same value, but if you trade the asset for a whole new item, you would have something different. 

The way it works is that at a high level, most of the NFTs are part of the blockchain with Etherum’s technology. Ethereum is relatively similar as it’s one of the best digital currencies in the market today along with Bitcoin and Litecoin; however, its blockchain technology is revolutionary as it also supports NFTs. Similar to how cryptos hold value, NFTs hold information that works quite different from a coin. There are also a lot of sites available to you that provide information about cryptocurrencies, such as Bitcoin Loophole.

How to Buy NFTs

If you’re going to start your own collection of NFTs, then you’ll need a couple of things for you to begin. First, you would need to acquire a digital wallet that allows you to store NFTs, and then you’re most likely to buy a digital currency, depending on what cryptocurrency your NFT provider accepts. Regardless, you can easily buy digital currencies using your credit on some exchange platforms such as Kraken, eToro, and Coinbase and then move the funds to the digital wallet of your choice.

However, when choosing an exchange or crypto wallet to start buying NFTs, there are a few things that you need to consider. But the most important aspect of your research in choosing the right one should be the fees involved. Most of the exchange platforms charge a percentage of your every transaction when conducting them in the exchanges, especially when you buy digital currencies.

NFT Marketplaces That Are Popular Today!

Once you’ve already managed to set up an account in the exchange platform, got a wallet funded and are ready, there’s no shortage of where you can buy NFTs today as there are already markets in the business. However, the most reputable marketplaces are always the first place you’re going to look, so here are the largest NFT marketplaces today:

• Foundation

Foundation is a platform for digital creators to post their art and sell it to the market, but it also has an upvote system, as well as receiving invitations from fellow creators. Because of how the market provides exclusivity to the community while having the cost of entry, it can boast digital artworks of a higher calibre.

• OpenSea.io

OpenSea is a digital peer-to-peer platform that bills itself as the one that deals with digital items and collectables. Dealing with OpenSea.io is relatively easy as it’s quite similar to creating an account in the exchange platform, funding it, and then purchasing cryptos. With this platform, you can get started by creating an account, and then you immediately browse NFT collections, not to mention that you can also sort the items and collectables by sales volume so that new artists can be easily discovered.

• Rarible

Rarible is an NFT platform that is relatively similar to OpenSea.io as it’s also a democratic and open marketplace for NFTs that allows the creators or artists to supply or distribute their pieces and sell NFTs. Furthermore, Rarible issues its users a token called RARI, and it gives their users the capability to weigh in on the platform’s features, such as the community rules and its fees.

Should You Buy NFTs?

When it comes to deciding whether to buy NFTs or not, it all boils down to your preferences; however, just because you have the capability of buying NFTs, that doesn’t always mean that you should. Because of how relatively new this technology is, it’s considered to have the risks with investing in cryptocurrencies as its future is never certain, and there’s not enough historical data to safely concur that it will last. But if you’re already set with your retirement plan and have already enough money to support you for many months if it fails, then NFTs may be worth investing. Investors also trade cryptocurrency in secured crypto platforms like Bitcoin Loophole.