How to buy an NFT on Coinbase NFT using Coinbase Wallet
Want to buy your first non-fungible token (NFT) but not sure you know how? Just follow these simple step-by-step instructions.
Why buy an NFT?
Non-fungible tokens (better known as NFTs) are unique digital assets on a blockchain network.
Some NFTs are similar to physical sports trading cards or artwork. NBA Top Shot, for instance, is an NFT marketplace, officially licensed by the NBA, where users can purchase its trading cards.
Other NFTs may also entitle the holder to benefits such as airdrops (free NFTs or crypto) or access to exclusive events or message boards — and collectors often choose to use an NFT as a profile pic on social media. One famous collection that offers many of these perks is Bored Ape Yacht Club (or BAYC), which counts celebrities like Serena Williams, Diplo, and Jimmy Fallon among its collectors.
NFTs can also be used to interact with various crypto apps by representing video game characters and plots of virtual land, among other functions.
How to buy an NFT
Since each NFT is a token on a blockchain network, you’ll need a crypto wallet, which you can use to hold and interact with your NFT collection. Via a self-custody crypto wallet like Coinbase Wallet, you can buy, sell, transfer, and hold NFTs just like you’d do those same things with a cryptocurrency like Bitcoin or Ethereum. If you have a Coinbase account, you can send crypto to Coinbase Wallet to use on Coinbase NFT. If you don’t have a Coinbase account, you’ll first need to follow the steps to create a Coinbase account.
(Learn more about Coinbase Wallet — which is a different app than the one that provides access to your regular Coinbase account.)
Download Coinbase Wallet: Coinbase Wallet is available as a browser extension for your computer, as well as on Apple’s App Store and Google Play for your phone. Once you have Coinbase Wallet, follow the initial setup instructions.
Connect Coinbase Wallet to your Coinbase account: The app will guide you through the simple steps for connecting your existing Coinbase account to Coinbase Wallet. This will let you easily send crypto you buy on Coinbase to your Coinbase Wallet.
Purchase some ETH: After initiating a crypto purchase, select ETH, enter the quantity, and complete the transaction. Keep in mind you must have enough ETH to cover the NFT cost plus gas fees. The ETH will appear in your Coinbase Wallet after the purchase and transfer from your Coinbase account is complete.
Purchase an NFT on Coinbase NFT
Once you have some ETH in your wallet, it’s easy to navigate to Coinbase NFT and buy any NFT that appeals to you.
Note: Any transactions you initiate and complete on Coinbase NFT or other marketplaces are at your own risk.
Open Coinbase Wallet: In the Coinbase Wallet app, tap the Browser icon.
Navigate to Coinbase NFT: Enter ‘nft.coinbase.com/’ in the URL.
Connect your Coinbase Wallet to Coinbase NFT: Tap the Menu button, then the Sign in button, followed by Sign. (If this is your first time connecting your Coinbase Wallet to Coinbase NFT, follow the steps to create your account and set up your profile.)
Navigate to an NFT listing: After your wallet is connected, tap the Menu button, followed by Shop to explore NFT listings for sale. Tap the NFT you would like to view.
Purchasing an NFT on Coinbase NFT: Tap the Buy now button to purchase at the seller’s listed price (or make an offer using the Make offer button).
Confirm the NFT purchase: Tap the Open wallet to pay button, followed by Confirm.
View the NFT: In the Coinbase Wallet app, tap the Assets icon followed by the NFTs tab. Once your transaction is complete, the NFT will be displayed in your Coinbase Wallet application.
To stay in the know, follow @Coinbase_NFT on Twitter or sign up to the Coinbase NFT newsletter to get the latest news and updates straight to your inbox. You can also join our community at nft.coinbase.com.