In India, it’s pretty much very restrictive to use crypto tech when you don’t own a Visa or MasterCard. You need a crypto exchange that will let you buy crypto via INR, then you need to pick a good NFT.
What are the things to keep in mind before buying any NFT?
Also check – Best projects like solana.
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Few Things To Keep In Mind Before Buying An NFT.
Many people despise it, why so much money for a jpeg? I will also suggest this. The first question is why are you buying any digital art that you can only observe on screen and is not even an in-game skin?
do you have the money to waste? if yes go ahead and buy anything if not then let’s talk about this further.
There are NFTs that have utility, unlike some jpegs that look pretty damn cool, are kind of super rare, are worth 1000 dollars, and do not have any utility.
But a few have awesome perks and cost as much as 2 or 3 sols or Solana. They can offer you some percentage of resale or overall product sale which they offer.
For example, celestial city NFTs offers 50% of their music sale among their holders.
The share of 50% in between holders is distributed depending on how many NFTs, holders have minted in their wallets.
A few NFTs offer goodies, and some backed by music companies or artists offer holders access to their songs or other art products before they get to the public.
When you buy them from the original owner and then sell them, there are no copyright issues.
So perks from NFTs and their utility must be considered. Resale value from the investment point of view is also essential. The best example would be axie infinity in which staked monsters can earn you yield.
Also Read – How to buy gari $coin.
You might also be interested in What is tmc nft.
STEP 1. Choosing a crypto wallet.
You need a crypto wallet like Metamask or TrustWallet or any that the NFT marketplace from which you are buying is compatible with. Then we need a few cryptocurrencies in our wallet, mainly the one that’s mentioned as the price of our selected NFT.
For example, if it’s ETH, you need ETH for the price of NFT plus the fee.
Also, there will be security seed words or phrases that you should write down on some paper. If you lose your wallet, you can recover it by using recovery phrases or words.
The Metamask is the easiest and can be attached as a Chrome extension.
However, you can also use choose trust wallet for this step.
Step 2. Depositing Crypto Into The Wallet
After downloading the wallet, you need to buy or transfer crypto to the wallet.
You can buy crypto from an exchange and then transfer it to your crypto wallet address.
You can also directly buy cryptocurrency through your crypto wallet.
this will not be easy as not many banks support it in India and the Rupay card does not work for the international transaction it will require Mastercard or visa.
Ok, so you have a crypto wallet on your phone or PC. Let’s go to the next step.
Step 3. Creating Accounts On The Marketplace
Choose a marketplace (opensea, rarible, and thememeclub TMC) and create an account there.
Mentioned NFTs marketplaces are the ones I have personal experience with, to use the TMC marketplace you need to have an account on the Memechat app so that you can buy from the meme club (TMC).
You can search for some other NFTs marketplace compatible with your preferences. Select the NFT you want to buy and then connect it to the wallet.
Pay close attention to the section of wallet connect if you’re using a “TrustWallet.” To begin the transaction, it will request a signature.
If it’s Metamask, you just need to tap on the extension and do from there.
Once the transaction is successful, you will have that NFT in your account on that marketplace. To transfer it, you have to use an NFT wallet with the same blockchain address.
If you know how to transfer cryptocurrency you will transfer the nft in the same manner.
If you are in dilemma “where should I buy nft from?” “will I be able to resale it in profit?” or “is my NFT secure here?” and “what if the artist or seller is a scammer”. Then we are here to help you with my local Indian experience in buying/selling and minting NFTs.
Here Are Top 5 NFT Marketplaces In India.
In terms of security, trust, and having verified artists/collectors with good NFts these are the best among best. Oh! I forgot most important aspect which is easiness. Using these platforms you can easily buy NFT art in India using crypto currency or Indian Rupee INR. We have created this list especially for Indian users so go ahead and try out these nft marketplaces.
1. Wazirex NFTs
This is WazireX as you can see at the top right corner there is a beautiful button that connects your wallet to the marketplace. daboch lo us button ko! ahem!… there will be two options: Metamask and wallet connect. WazireX work on binance smart contract chain and you need WazireX governance token WRX or binance governance token BNB in your wallet.
- Wallect connect is mostly used by mobile wallets like “Trust wallet“. Once connected you can buy/bid/sell and mint any nft you want.
- WazireX also provides referral programs you can earn 20% of the platforms fees incurred by the person you invited.
- It ranks 27(at the time of writing) in terms of security among NFTs marketplaces globally on reputed inspection firms.
WazireX uses IPFS to store its files instead of other services like AWS or Google. IPFS is an interplanetary file system that is decentralized in nature.
Unlike centralized aws or Google, where there is a risk if a company gets dissolved, all the NFTs stored will be gone with it.
2. Binance NFT marketplace
Buying NFTs on binance is super easy. You just need to have sufficient supported coins in their default wallet that’s available as inbuilt feature on both website and mobile APK. just click on buy after your pick your favorite NFT. Binance is top dog in crypto world it needs no introduction. It is one of those few exchanges which listed trendy Apecoins from yuga labs.
However, only pre-approved creators are allowed to mint or create NFT arts. Furthermore, Binance has closed the application to get pre-approved.
Binance NFT has partnerships with various kinds of artists and famous athletes. It is being used for personalized tokens and tickets.
More than 2.5 million NFTs have been listed on Binance since its launch and have crossed $365 million worth of trading volume.
as you can see the trading and staked volume in comparison to IGO projects on Binance. Gaming NFTs provide skins, land and other stuff in metaverse.
3. Rarible
The platform governance token is RARI. It ranked as the best NFT marketplace after its launch in 2021. I think Rarible is the one and only platform that provides lazy minting without any conditions. You can create or mint NFTs without any money, but this is only supported by etherium. If you are using a trust wallet, go to wallet connect.
There will be a rarible connection; go into it and wait for a sign. Sign it, and your NFT will be minted for free. The buyer will pay for gas and the mint fee.
Rarible uses ERC-721 for unique NFTs that can be bought only by one person and ERC-1155, which provides multiple copies of an NFT to a large number of people.
4. Opensea
It is the leading NFT marketplace. However, in response to recent attacks aimed at stealing NFTs from their platform, they froze all the accounts to protect users. It was a good move, but this also raised a question mark on their decentralization.
The platform has a proper category of NFTs ranging from utility to trading cards. There is not one big NFT project that doesn’t wish to be on it. They also support lazy minting for users who have created and paid the fee once.
you need something like metamask and eth or polygon to buy from there.
5. Beyondlife
BeyondLife.club is famous for “Amitabh NFTs.” If you visit the site, it might feel like Amitabh Bachhan’s personal tiktok or social media where he posts pics and videos of himself. Stan Lee’s “Chakra the Invincible” was featured in this marketplace. It’s kind of unique.
If you are a fan of some Bollywood actors, you should buy NFTs from here.
The platform was created for celebrities and their fans.
some blogs claim that this platform enables NFTs owners(brands, actors,artist) sell their NFTs in just 3 minutes.