The Coinbase platform is among the top names in the DeFi space, mainly the crypto industry, but you can also buy NFTs through Coinbase.
Not just that, Coinbase is also buckling up to launch its own Ethereum NFTs. The platform reported 1M early access registrations for NFTs on Coinbase in one day.
We will talk about Coinbase and how to buy NFT on Coinbase for newcomers. You can buy into Coinbase NFTs or use Coinbase wallet to make NFT purchases on big marketplaces like OpenSea.
Let’s get into the tutorial for how to buy NFT on Coinbase from here.
How to Buy NFT on Coinbase?
Coinbase is always among the top three exchanges for daily crypto trades, including NFTs. The fact has made learning to use Coinbase an important task, making the entire buying process about a few clicks on the screen.
So, for anyone seeking a useful guide on how to buy NFT on Coinbase, we will cover all the important steps in this section.
Step 1: Log in to Coinbase Wallet
Wondering how to buy NFT on Coinbase? You will need a digital wallet before you make any transaction in the digital world. The Ethereum blockchain backs most NFTs, so using an Ethereum wallet will be good.
A dozen wallets are Ethereum supported, and one of the most famous is MetaMask. You can start by creating an account on the official site metamask.io or Coinbase wallet.
- Download the Coinbase Wallet app on the phone (Android, iOS).
- Set up the wallet with your identity details like name and email address. You can also use the Coinbase wallet if you have an existing wallet like Metamask by transferring the funds.
- Provide your username and password for Coinbase to Coinbase wallet transactions.
- You’ll get a Recovery Phrase for situations where you forget your password. Write the phrase down, or keep it saved on your phone. Keep it hidden. Even if you forget the recovery phrase, the Coinbase wallet app will have an encrypted password that is protected in the app for you.
- Once everything is done, you can set the account to private or public for people to find you.
- Choose the network next. This will help with coin transfers.
- You’ll also have a wallet link to your Coinbase account for effortless transactions.
The login is simple with 7 elaborate steps, and it’s the first step to learning how to buy NFT on Coinbase. Once the Coinbase wallet is set, you can hop onto the next steps like accessing the NFT marketplace.
Step 2: Create Coinbase Marketplace
If you already have a Coinbase account, you can simply log in to access the Coinbase NFT marketplace. If not, then you’ll have to create one.
- Download Coinbase app in your phone
- Sign up by providing your full name, and email and create a password. Ensure the details are correct, as the Coinbase account will hold your funds in case of incorrect information. After filling in the details, agree to privacy terms and click ‘Create Account.’
- Verify your email address.
- Agree to Coinbase’s terms.
- Attach your payment method. Here you can link up your Coinbase wallet to facilitate easier trades.
Your account will be verified within minutes of the info submission. Our next step is to tell you the steps for how to buy NFT on Coinbase.
Step 3: Buy NFT on Coinbase
Coinbase NFT landing page sourced from MDNFT
OpenSea, Rarible, Mintable, and Sorare are some top names that come to your mind when buying NFTs. It’s normal. Coinbase has recently stepped in to promise a hassle-free NFT purchase.
- Access Coinbase NFT, sign in with either Google, Coinbase wallet, or Coinbase account by clicking join wallet.
- The wallet will easily be connected instantly, and the platform will provide your username for identification. Pick a display and choose the NFTs to display on your profile. Coinbase NFT is more like Instagram. You have to upload NFTs that you have created or have in your gallery to display on your profile.
Here’s what the profile looks like:
The profile has four tabs:
- Hidden (only be visible to you)
- Once you have picked your favorite NFTs, you will be free to share the profile on Facebook, Twitter, or other social apps.
- The profile also has a ‘sale NFT’ option where you can register your NFTs for purchase. Anyone who visits your profile can see and buy NFTs on Coinbase.
All these NFTs have been registered on Ethereum so that you can buy them through ERC tokens.
Buying and selling NFTs on Coinbase is simpler than on other platforms. But, it would still help if you knew some facts before purchasing NFT on Coinbase.
3 Things to Know about Buying NFT on Coinbase
Before you practice all the steps for how to buy NFT on Coinbase, there are a few things you should know.
Most crypto users don’t realize that they have to pay gas fees that are added to the overall price of NFT. The gas fees are the charges for electricity used in NFT minting. The gas fees can vary from 2% to 10% at maximum. It can surely get higher.
Buying NFT with Cash on Coinbase
We have been talking about how Coinbase has made NFT trading easier, and that is about not needing cryptocurrency to pay for NFTs. You can begin by connecting your Debit or Credit card with your Coinbase wallet and pay for NFTs directly.
Refer to Coinbase NFT and Get Up the Wishlist
Many businesses use referrals as a marketing technique, but Coinbase NFT, which is still not available or launched yet, has taken it to the next level. There are 3 million users already waiting on the wishlist to secure their Coinbase NFT position.
If you are at 2,397,430 and your friend joins Coinbase NFT using your referral, you will get to 2,397,429. It’s a great treat for anyone learning how to buy NFT on Coinbase!
We hope you know all you need to know about how to buy NFT on Coinbase. Go to the platform and get on the adventure.