As an Australian, you may be wondering where and how to buy NFT tokens in Australia. Wonder no more because, in this step-by-step guide, we’ll tell you everything you need to know!
So whether you’re a seasoned investor or just starting, read on for the inside scoop. Nft tokens are cryptocurrency token in Australia and the rest of the world, and it is based on the Ethereum blockchain and can be used to tokenize assets.
I will show you where and how to buy nft tokens in Australia- a step-by-step guide with all instructions, including buying options for Australians.
Is NFT Coin A Good Investment?
The NFT market is a speculative market fueled by scarcity and fear of missing out (fear of missing out). There’s no guarantee that the NFT you acquire will rise in value over time. NFTs have a market, and the potential return may outweigh the dangers for many investors.
However, after knowing how to buy nft tokens in Australia, make sure you consider all the risks associated with NFTs and do your due research on the ecological impacts they can have on the environment.
3 Reasons Why Anyone Would Want To Buy an NFT
When you consider the best instances of NFTs, you’ll see that they’re all pieces of art worth millions of dollars. The fact that artists seek scarcity for their crafts is the first reason why NFT is getting so much traction. The NFT uses blockchain technology to allow unique signatures to claim ownership of digital works of art.
- Early Adoption
Other than artists and musicians, others are only interested in NFT because it is fashionable. Many people are concerned that the technology will not be sustainable due to its environmental impact. As a result, they want to get in on the trend while it’s still going strong.
- Pandemic and Distrust in Dollar
Another reason most people jumped on the NFT train is the COVID19 pandemic. Most people were at home, and they were looking for any security. At that moment, cryptocurrency came to the fore and has been great ever since. Weirdly enough, the pandemic and cryptocurrency boom happened when global economies suffered losses.
The Best NFT Marketplace in Australia
- OpenSeaOpenSea is a decentralized marketplace for digital commodities, such as collectables, video games, digital art, and other digital assets backed by a blockchain like Ethereum. Not only that, but OpenSea also acts as a digital asset aggregator, putting digital assets on various marketplaces.
- Rarible (RARI)
In the NFT world, RARI is the first governance token. Rarible is transitioning from a centralized autonomous organization to a fully decentralized autonomous organization as its user base grows and its market presence expands. As a result, the RARI token serves as the Rarible platform’s governance token. It allows RARI holders to vote on platform upgrades and engage in curation and moderation.
SuperRare is a digital art gallery specializing in one-of-a-kind, limited-edition digital artworks. Each piece of art is generated by a network artist and tokenized as a crypto-collectable digital commodity that you can own and trade. The network is based on the Ethereum blockchain, and all digital arts are exchanged for a common ERC 721 token.
- Nifty Gateway
The marketplace is controlled from a central location. Users may buy NFTs using fiat currency, and sellers can withdraw their revenues to their credit or debit cards, which is a wonderful site feature. On the other hand, PayPal is unavailable on the platform, and withdrawals to bank accounts are currently only available to US banks.
Mintable is one of the first platforms which support gasless coin production (although normal minting is also possible). Mintable has included Immutable X’s layer two technologies to mint NFTs with no upfront gas price. This allows the creator to stay on the Ethereum platform and avoid paying a large gas price to the Ethereum miner.
The Best NFT Wallets in Australia
Since now you know about how to buy NFT tokens in Australia, let us look into some of the best wallets for NFTs that are out there. With the rapid rise of non-fungible tokens in the last two years, a list of wallets has sprung up with notable features.
- Coinbase NFT Wallet
- Math Wallet
Where to Buy NFT Crypto in Australia
The following places are where you can get NFT cryptos in Australia.
- Crypto.com NFT Marketplace
- Foundation NFT
- Enjin NFT
- NBA Top Shots NFTs
The Best NFT to Buy
The following are the top 10 NFTs to buy in 2022
- Virtual Reality Land
- Bored Ape Yacht Club
- Rarible –RARI COIN
- Enjin Coin
- NBA Top Shot
- Pudgy Penguins
- Worldwide Asset eXchange (WAX)
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How to Buy NFT Tokens in Australia
The majority of NFT transactions take place on a dedicated exchange. Here’s a quick walkthrough on how to purchase these digital items from there.
Most marketplaces currently use the Ethereum network to power their transactions. So you will need Ethereum’s native token Ether to buy an NFT. If you do not know how to purchase nft tokens in Australia, you can open an account with an exchange like WazirX or Binance and purchase the tokens from there.
- Select the marketplace where you wish to purchase the NFT. NFT marketplaces abound, with OpenSea, Rarible, SuperRare, and Foundation among the most popular.
- Create an account on the marketplace of your choice. The registration procedures for various marketplaces differ.
- Make a connection between your wallet and the marketplace. On most marketplaces, there is a simple ‘Connect wallet’ option.
- Look through the marketplace and select an NFT that appeals to you. Most marketplaces that purchase NFTs use an auction system; you must bid for the NFT you want.
- After a successful bid, the transaction will be completed, and the required amount will be deducted from your wallet. Bear in mind that you might have to pay a transaction charge to the marketplace, the amount of which may vary depending on the market.
If you are an Australian cryptocurrency investor looking to buy NFT tokens in Australia, you must know the best places to purchase them. The NFT market has grown rapidly, with many exciting projects being developed.
If you are interested in investing your time and money into the future of blockchain technology, NFTs may be for you if you have any questions on how to buy nft tokens in Australia.