How to buy an NFT on OpenSea using Coinbase Wallet
Want to buy your first NFT — but not sure you know how? Just follow these simple step-by-step instructions.
Whether you’re looking to buy a seven-figure pet rock or just a cool affordable collectible that caught your eye, NFT markets such as OpenSea have something for everyone — and navigating them is easier than most people think. In this guide we’ll show you how to use Coinbase Wallet to purchase your very first NFT. Let’s get started!
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 messageboards — 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 BYAC), 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. Axie Infinity, a popular play-to-earn video game, uses NFTs to represent in-game characters.
While many popular NFT collections like CryptoPunks and BAYC were originally released on the Ethereum blockchain, you can also get NFTs that have been issued on a wide variety of other blockchains — worth considering because alternative blockchains like Solana, Algorand, and Polygon may offer lower fees.
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 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.
How to buy an NFT
The biggest NFT marketplace is OpenSea — which allows anyone to buy or sell NFTs on a variety of blockchains, including the Ethereum, Polygon, and Klaytn networks. You’ll also need a self-custody crypto wallet, like Coinbase Wallet, which you’ll use to purchase, store, and sell NFTs. If you have a Coinbase account, you can send crypro to Coinbase Wallet to use on an NFT on a marketplace such as OpenSea.
(Learn more about Coinbase Wallet — which is a different app than the one that provides access to your regular Coinbase account.)
Download Coinbase Wallet to your phone: Coinbase Wallet is available on Apple’s App Store and Google Play. 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 OpenSea
Once you have some ETH in your wallet, it’s easy to navigate to OpenSea and buy any NFT that appeals to you. (The screengrabs here are from the iOS version of the app, but the same principles apply to the Android version.)
Note: Coinbase isn’t affiliated with OpenSea. Any transactions you initiate and complete on OpenSea or other platforms are at your own risk.
Open Coinbase Wallet: In the Coinbase Wallet app, tap the DApp browser icon.
Navigate to OpenSea: Enter ‘www.opensea.io’ in the URL.
Connect your Coinbase Wallet to an NFT on OpenSea: Tap the Menu button followed by ‘Connect Wallet’. Tap ‘Coinbase Wallet’.Navigate to an NFT listing: After your wallet is connected, tap the OpenSea logo to explore NFT listings. Tap the NFT you would like to purchase.
Purchasing an NFT on OpenSea: Tap the Buy now button to purchase at the seller’s listed price (or make an offer using the Make offer button) followed by agreeing to OpenSea’s terms/conditions. Tap the Confirm checkout button.
Confirm the NFT purchase: Tap the Pay button.
View the NFT: In the Coinbase Wallet app, tap the Wallet icon followed by the ‘NFTs’ tab. Once your transaction is complete, the NFT will be displayed in your Coinbase Wallet application.