How To Buy NFT | Non Fungible Token | How To Buy NFTs On Binance

How To Buy NFT | Non Fungible Token | How To Buy NFTs On Binance

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Welcome to our How To Buy NFT video!

What Are Nfts?
A Non-Fungible Token (NFT) Is A Unique Token Stored On The Blockchain. This Token Can Be An Image, Digital Art, A Video Or Audio File, A Video Game Skin, Or Any Other Digital Asset Stored On-Chain. The Adjective Non-Fungible Means That No Two Tokens Are The Same.

For Example, You Can Exchange A One-Dollar Bill For Another Dollar Bill. Or One Bitcoin For One Bitcoin. They Are Not Identical (Dollar Bills Have Serial Numbers) But Can Be Exchanged.

A Non-Fungible Token Works Like The Real-World Example, Only That It Is Unique On The Blockchain For Everyone To See And Authenticate.
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How To Buy NFT Tokens?

To Buy An NFT, You Need:
A Crypto Wallet: This Can Be A Hot Wallet Or A Cold Wallet.
Access To A Computer And A Blockchain Like Ethereum (This Is Where Most Nfts Are Sold, But There Are Also Nfts On Other Chains).
Funds To Buy The NFT: ETH For Ethereum-Based Nfts, SOL For Solana-Based Nfts, And So On.
Buying An NFT Is Not Much Different From Any Other Purchase Online. Open An NFT Marketplace Like Opensea:
You Can Search On The Top Row For A Collection Or Click On Explore To Browse Around And See What You Like. Let's Say You Have Won The Lottery And Can Afford One Of The Highly Valuable Bored Apes. Opensea Verifies Official Collections With A Blue Tick To Prevent Fraud (Which Still Sometimes Happens):

You Can Choose One Of The Bored Apes You Like. Apes With A Pink Ethereum Symbol Are Being Bid For And Have No Fixed Price. Apes With A Price Next To A Black Ethereum Symbol Have A Fixed Price And Can Be Bought Immediately.

If You're Feeling Generous And Have The 108 ETH To Buy Bored Ape #6846, Click On The Ape And See The NFT's Price History And An Option To Buy.

Once You Click On Buy Now, You Will Proceed To The Checkout Window. Each Transaction Requires Gas Fees, Although This Should Not Be A Problem If You Are Buying A Bored Ape. However, Say You Want To Bid Instead Of Buying An NFT, Remember That The Bid Itself Will Cost Gas As Well.
You Can Also Pay By Credit Card When Checking Out. However, The Transfer Is Done In ETH, So You Will Have To Pass KYC If You Want To Pay By Card.

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The information contained herein is for informational purposes only. Nothing here shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our How To Buy NFT video. Make sure to leave a like on the video if you gained value from it!

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⏰ Time Stamp ⏰

00:00 Intro
00:53 How to Buy NFT Token
00:29 Outro