By Jhonattan Jimenez
Non-fungible tokens (NFTs) are gaining mainstream acceptance. The number of NFT traded has risen by over 700% from the previous Q3 in 2020 to around $10.67B, according to data from DappRadar.
In this guide, you will be able to find out which is the best NFT apps to trade these unique assets and how to get started with zero commissions.
Best NFT Apps List 2022
OpenSea – Most Famous NFT App For NFT Trading
Axie Marketplace – The Best NFT App for Axie Trade
Larva Labs – Popular NFT App for CryptoPunks
NBA Top Shot – The Best NFT App for Basketball Clips
Rarible – A decentralized NFT marketplace for collectors
SuperRare.co – The Best NFT App For Unique Digital Collectibles
Atomic Market – An App for Shared Liquidity
Foundation – An awesome NFT app for royalty-based sales
Aavegotchi – An app for DeFi-staked digital currencies
MakersPlace – NFT’s best app for exclusive creator content
How do NFT Apps Work?
Apps like NFT operate by allowing anyone to mint and trade digital collectibles on the platform. Several steps can be followed in order to operate a successful NFT marketplace.
- Create an Ethereum wallet
- Create an account with the NFT App that you wish to use
- You can deposit using any of the support payment methods
- You can offer (bid) or purchase the digital collectible outright
How to Buy NFTs on an App
To buy NFTs, you need to have at least $1 in your MetaMask or Coinbase wallet, in addition to the ETH. Using a reputable cryptocurrency broker is the most straightforward way to achieve this.
Social trading leader eToro is one of the most popular options when trading. NFT offers a broad collection of NFT tokens to invest in at extremely low fees compared to some popular crypto exchanges. Additionally, investors can buy other major cryptocurrencies like Bitcoin and Ripple, and Ethereum.
The majority of non-fungible tokens are purchased with Ether, the native currency of the Ethereum network. However, other coins such as Enjin (ENJ) are also accepted on popular NFT marketplaces.
To purchase Ethereum or Enjin Coin on eToro, please follow these steps:
Step 1: Sign up on eToro To Buy ETH or ENJ
The majority of non-fungible tokens are purchased with Ether – the native currency of the Ethereum network. You can buy Ethereum/Enj on eToro by visiting the official website and clicking on the Join Now button.
In order to sign up, you will be presented with a signup form where you will be asked to enter your full name, email address, mobile number, password, and username. Additionally, you can also register with eToro by using your Google or Facebook accounts.
Step 2: Verify your ID
eToro is a regulated broker that we recommend because it is one of the best. You will need to submit a few documents to have your account verified. It is easy to upload a copy of your driver’s license or government-issued identification card online. Additionally, you will need to upload a recent copy of your utility bill or bank statement to consider this loan. eToro will then verify your credentials after receiving this information.
Step 3: Deposit
If you are interested in buying ETH or other NFT tokens, we recommend eToro because its deposit fees are lower than other platforms. Currently, the deposits on eToro are free, but you must deposit a certain amount in order to begin. The minimum deposit amount for US clients is $50.
The payment methods that are supported are:
- Bank wire transfer
- Credit/debit cards
- PayPal
- Neteller
- Skrill
- Trustly
- Sofort
- iDEAL
Step 4: Buy ETH/ENJ
Buying ETH is the final step of the process. You have to type in ‘ETH’ or ‘ENJ’ into the search bar to make the purchase.
You can then click on ‘Trade’ on the first result that appears and fill in the value of ETH that you would like to buy on the order page. Finally, click on the ‘Open Trade’ button to complete the purchase if you are done.
In either case, the ETH will be sent to your eToro portfolio, or you can transfer it directly to your eToro wallet.
The powerful crypto wallet from eToro supports popular ERC tokens, Bitcoin, and 120 other cryptocurrencies. Moreover, you will enjoy a password recovery service that is rare in the crypto space. The recovery system ensures that you will still access your crypto funds even when you lose the backup seed phrase. It is also possible to transfer your Ethereum later on to a third-party wallet such as MetaMask or Coinbase.
Choose an NFT App
Having purchased ETH on eToro, you can now choose an NFT app to use after you have made your purchase.
In most cases, NFT is purchased through OpenSea, and we recommend using this platform because of its reputation.
Another advantage of the protocol is that liquidity is currently flowing through it, making it possible to withdraw your funds without fear whenever you wish. Other popular NFT app choices include Axie Marketplace for buying Axies, as well as NBA Top Shot.
Sign Up
You will need to register with your chosen NFT app in the next step.
Fortunately, this step should not take much time since OpenSea only requires connecting to any digital wallet supported by it.
Purchase Your NFT
When you have finished creating your account, it is time to purchase your NFT. In OpenSea, there are several categories of creators, and you can browse these directly if you know any, or you can click on the ‘Explore’ button to see the work of the top creators.
To purchase the one you want, you will need to make an offer (bid) or buy it once you have identified it. To pay for it, you can use your Ethereum holdings. The NFT will be deposited into your collection account once the purchase has been completed.
An important tip...
As a result of their essential role in the evolving MetaVerse, NFTs are here to stay. Moreover, thanks to their significant effect on the future of Web 3.0 built on blockchain technology, NFTs will have a crucial implication in shaping the future of the web.
In terms of investing in NFTs, it is considered a smart move as more individuals invest in space.
Alternatively, you can also purchase Ethereum or your Enjin coins from a regulated broker, such as eToro. That is because you will be able to benefit from a wide array of additional features, such as low fees, the safety of funds, a good number of tradable assets, and a social platform for trading.
In addition to this, eToro is also a reputable broker that is regulated by top-tier authorities, including the UK’s Financial Conduct Authority (FCA), and the Financial Crimes Enforcement Network (FinCEN) in the United States
Jhonattan Jimenez is a English Language professional interested in Cryptocurrency and economic policy at Trading Platforms
*The views expressed here are not necessarily those of IOL. or for title sites
*The views expressed here are not necessarily those of Independent Media.
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