How To Buy an NFT on Coinbase
A Non-Fungible Token or an NFT is a type of digital collectible operating as a part of an Ethereum blockchain. You’ve probably heard about NFTs and that they might be an excellent investment. There are countless NFT markets these days containing fascinating digital originals.
Coinbase NFT is a place where you browse these markets and even purchase NFTs. As a crypto exchange and a digital wallet, Coinbase has a well-established reputation, but it’s also an NFT marketplace.
If you want to buy your first NFT using Coinbase, it might be challenging to understand how it works. To make it a bit easier, we offer a complete step-by-step guide.
Everything You Need to Buy NFTs in Coinbase
Before covering all the details on how to buy NFTs in Coinbase, we should establish all the elements you’ll need to succeed in this process.
First, you will need an Ethereum-compatible crypto wallet. The Coinbase Wallet is a great place to start, but it can be any wallet that supports Ethereum.
Once you create a crypto wallet, you’ll need to purchase some Ethereum from an exchange, which can also be Coinbase, but others that support this cryptocurrency are good, too.
The purchased Ethereum (ETH) should then be transferred to the crypto wallet, from which you can connect to the Coinbase NFT marketplace.
When your digital wallet contains ETH, you’re ready to start shopping for Non-Fungible Tokens.
How To Buy NFTs in Coinbase on a PC
Even though many people choose to buy crypto or NFTs with their mobile devices, others prefer the spaciousness of the PC. Buying NFTs on your computer is a pretty straightforward process, and here are all the steps you need to take.
- Go to the Coinbase NFT marketplace using any browser.
- Click the “Sign in” button in the top-left corner of the screen.
- You will be prompted to connect to a wallet. You can choose Coinbase or another available option.
- Once the Coinbase NFT and your wallet are connected, click the “Shop” option at the top of the screen.
- Browse or search NFTs until you find one you want to purchase.
- Click the NFT you want to buy
- Click the “Buy now” button.
- Select “Open wallet to pay.”
That’s how it works. Keep in mind that all the details about the selected NFT will be listed under the image. You’ll see the ETH and fiat currency price, who the creator is, and if the NFT belongs to a specific collection.
Also, if you’re using the Chrome browser, a nifty Coinbase Wallet extension allows quick integration of your wallet and the browser for easy crypto and NFT purchases.
Note: Even if you “buy” a free NFT, you will still need to pay your wallet’s transaction fee.
How To Buy NFTs in Coinbase From the iPhone App
If you’re an iPhone user, buying NFTs is super simple, as long as you have an Ethereum-compatible wallet, such as Coinbase Wallet for iOS devices, and enough coins to spend.
Many NFT markets can be integrated with Ethereum wallets, and Coinbase NFT supports many of them. So, to illustrate the process of buying NFTs from Coinbase NFT, we’ll go through the steps you need to take in a Coinbase Wallet.
- Open Coinbase Wallet on your iPhone.
- Tap the “Discover” button at the bottom of the screen, represented by four squares.
- Select “Coinbase NFT” from the available marketplaces.
- Tap the main menu, represented by three horizontal lines at the top-left.
- Select “Shop” and browse the NFTs. Alternatively, tap the magnifying glass icon and search for a specific NFT.
- Tap an NFT you want to purchase and select the “Buy now” button.
- Select “Open wallet to pay.”
Once the purchase is complete, your NFT will appear in your wallet. When you open the wallet, move to the “NFT” tab, and you should see it listed.
How to Buy NFTs in Coinbase From the Android App
The Coinbase Wallet app works the same on Android devices. You need to have an active account and ensure the wallet has enough ETH coins for buying NFTs. From your Coinbase Wallet, you can easily reach the Coinbase NFT marketplace and buy an NFT. Here’s how.
- Launch the Coinbase Wallet on your Android device.
- Select the four-square button at the bottom of the screen. It leads you to the “Discover” page.
- Tap “Coinbase NFT.”
- Tap the three horizontal lines at the top of the screen.
- Select “Shop” from the list of options. Continue to search for an NFT or browse the collections.
- Choose an NFT to buy and tap the “Buy now” button.
- From the following page, select “Open wallet to pay.”
If you have enough ETH in your wallet, the purchase will automatically go through, and your digital file will appear in the wallet.
How to Buy NFTs in Coinbase on an iPad
Some NFT collectors prefer to shop from an iPad, and the good news is that the Coinbase Wallet mobile app for iOS can be used on iPads.
The entire process is as straightforward as it is when using the iPhone. Here’s how to find and purchase an NFT in Coinbase on your iPad.
- Launch your Coinbase Wallet on the iPad and tap the four-square button at the bottom of the screen.
- Select “Coinbase NFT” from the list of marketplaces.
- Go to the main menu by tapping the three horizontal lines in the upper-right corner.
- Tap the “Shop” option to redirect you to the NFT collectibles.
- Browse or search specific NFTs.
- Select an NFT to purchase and tap the “Buy now” button.
- Tap “Open wallet to pay.”
The process is finished. If you have enough ETH in your wallet, the NFT collectible will be in your wallet under the “NFT” tab.
What is the average price of an NFT?
You might have heard about celebrities buying NFTs that cost millions of dollars, leaving the impression that that’s the typical price range.
On the contrary, these prices are extreme, and the price of most NFTs ranges from around $100 to $2,000. But even this range can drastically change at any given moment because the market is highly volatile.
Can NFTs be stolen?
This is another common question, as the news about hacked Ethereum wallets has been reported. The short answer is yes. Your NFT collectible can be stolen, the same as any cryptocurrency can be stolen from an unprotected wallet or by falling for a phishing scam.
Crypto and NFT hackers are savvy and can use sophisticated ways of getting you to click on links that can lead to NFTs being stolen. So it’s best to be hyper-vigilant about it.
Buying NFTs From Coinbase Like a Pro
The steps are easy to follow, whether you’re using a PC or a mobile device to buy NFTs from the Coinbase NFT marketplace.
While you can use different Ethereum-supported wallets and exchanges to work with Coinbase NFT to allow effortless integrations, it’s best to stick to the Coinbase universe and purchase ETH from the Coinbase Exchange and use the Coinbase Wallet to pay for the NFTs.
Browsing the many NFT collections can be fun, and once you find what you like and can afford, the buying process is very straightforward.
Every step along the way, users can read about the details for a specific NFT and see its price in ETH and fiat currency.
Which device would you use to purchase NFTs in Coinbase? Do you think they are a good investment? Let us know in the comments section below.
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