Crypto.com’s NFT marketplace is a platform where users can create, display, buy and sell NFTs. The marketplace has been developed by Crypto.com and was built on top of the Crypto.com blockchain.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. What is the Crypto.com NFT marketplace?
Established in March 2021, the Crypto.com NFT marketplace is a platform backed by the cryptocurrency exchange, Crypto.com.
Crypto.com has been in the cryptocurrency space since 2016 and has grown to become one of the most popular cryptocurrency exchanges and crypto payment platforms. It is now used by millions worldwide. The NFT marketplace is the latest addition to its exchange and blockchain ecosystem. New NFTs can be created, displayed, bought and sold.
NFT , which is short for non-fungible token, is a digital asset that represents ownership of a unique item. Popular items include digital art, music, videos, memes and gaming accessories. Similar to cryptocurrencies, an NFT is stored on a blockchain digital ledger. However, unlike cryptocurrencies, they are not interchangeable. 1 BTC can be swapped for any other 1 BTC. An NFT cannot be swapped for any other NFT. Each holds a unique value.
NFT marketplace provides 2 ways users can buy NFTs: by auction or set price. Set price means that an NFT is purchased or sold at a predefined price, which is set by the seller. Auctions allow multiple users to bid on the value of an NFT.
Although riskier, auctions have been known to generate increased hype and, therefore, increased profits. However, this depends on the NFT being sold.
Buying at a set price is the simplest way to buy NFTs on the platform and will be the focus of this section. Step 1: Create an account
You cannot buy an NFT on the Crypto.com NFT marketplace without a Crypto.com NFT user account. Image: Supplied On the NFT marketplace page, click on the highlighted “Sign Up” button to begin creating a Crypto.com user account. Image: Supplied The sign-up process will require your full name, email, username and password. Once you have entered your user details, you will need to verify your email and accept the terms and conditions before your Crypto.com account is created. Step 2: Select payment method
NFT marketplace offers 2 ways to pay for NFTs. You can either pay via debit/credit card or via Crypto.com Pay. Paying through a debit/credit card will be the simplest way for beginners or non-crypto users. The method is best suited for people who don’t already hold cryptocurrencies.
If you wish to buy NFTs with cryptocurrencies, Pay is the way to go. Before using Pay, you will need cryptocurrencies either in your wallet or your personal cryptocurrency wallet.
If you have cryptocurrencies stored in a third-party personal cryptocurrency wallet, you will need to link that wallet to your Crypto.com account. The digital wallet must be supported by Crypto.com. Crypto wallets supported by Crypto.com include MetaMask and Trust Wallet. Step 3: Buy your NFT
To buy an NFT, find the Crypto.com NFT marketplace homepage and click on the “Marketplace” button at the top of the screen. You will be directed to all of the NFT listings. Image: Supplied There are different categories of NFTs available on the Crypto.com NFT marketplace. You can use the search bar to quickly search for a specific NFT or use the category filters to browse through different collections.
Once you find an NFT you wish to buy, click on it. A new page will load displaying all the information regarding the NFT, such as description, the edition and previous sale history. Image: Supplied Once you have verified all of the information, click the “Buy” button. You will then need to choose whether you’ll purchase the NFT using a credit/debit card or with Crypto.com Pay.
Once the transaction has been completed, the NFT will be deposited into your Crypto.com account. From there, you can transfer your NFT to a personal cryptocurrency wallet.
As with buying NFTs, there are 2 ways you can list your NFT for sale within the Crypto.com NFT marketplace: by auction or set price. Regardless of the method chosen, the steps for listing an NFT for sale are easy to follow. Step 1: Create a user account
If you already have an account, you can skip this step.
As outlined in “How to buy an NFT on […]
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