How to buy NFTs online

Non-fungible tokens have recently emerged as a popular digital asset class. This beginner-friendly guide takes you through the process of buying your first NFT.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed,… read more.
Updated: Aug 25, 2021
Tip: our preferred broker is, eToro: visit & create account

On this page is a beginner-friendly guide to buying and trading NFTs, along with comparisons of the top marketplaces where they can be bought and sold. If you’re unsure what an NFT is, then we recommend reading our quick definition page first and then coming back here for help with your purchase.

Compare the best NFT trading platforms

Most NFTs are paid for using Ethereum, which means you need to own some of that cryptocurrency in order to make your first purchase. The table below contains some of the best brokers that allow you to buy Ethereum, and you can sign up in a few minutes by simply following the links next to each one. Or you can scroll down to learn more about getting the NFTs themselves.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$20
Exclusive promotion
user-score
9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full regulations list:
3
Min. Deposit
$10
Exclusive promotion
user-score
8.7
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Start Trading
Description:
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

How to buy NFTs online – a step-by-step guide

Step 1. Choose an NFT marketplace

NFTs are sold on marketplaces that act like auction houses for these tokens. You can either head straight to the one that offers the NFT you want to buy, or alternatively pick one of the top platforms and browse through the collection. The marketplaces below are two of the leaders in the field:

  • OpenSea: OpenSea is by far the largest NFT marketplace. It lets you buy, sell, and create NFTs on a platform that hosts tens of thousands of traders every single day. Visit OpenSea now >
  • Rarible: Rarible is another platform where you can buy, sell, and create NFTs. It even integrates with OpenSea and has its own cryptocurrency, so you can easily trade NFTs on either marketplace. Take a look at Rarible >

Step 2. Sign up and create an account

Before you can place a bid, you have to set up an account. This is usually a simple process that involves putting in a few contact details like your name and email address. It can vary, though, and some platforms might ask for more information like a form of ID to verify your identity.

Step 3. Get a crypto wallet

If you already have a wallet, you can skip this step. For those that don’t, most NFT marketplaces only deal in cryptocurrency (and most commonly Ethereum), so you have to have a wallet to be able to deposit money or place a bid. You also need to have a wallet to store the NFT in once you’ve bought it. Here are two of the best wallets to get started with:

  • FreeWallet: FreeWallet is an online wallet that lets you manage your money through your browser or a dedicated mobile app. It also has an in-built exchange so that you can trade coins directly from your wallet. Join FreeWallet today > 
  • CoolWallet: CoolWallet is a hybrid; it stores your coins offline on a thin, card-like device, but you can access them through an app on your phone. The app connects to the device via bluetooth. Sign up with CoolWallet >

Step 4. Deposit money

On some platforms, this step is as simple as connecting your wallet to your marketplace account. All you have to do is click a button to get started. The important thing is to make sure it’s got some money in it and it’s the right cryptocurrency first. Many NFT marketplaces deal in Ether, so you can go ahead and learn how to buy Ethereum if you don’t own some already.

On other platforms, such as NBA Top Shot, you have to actually deposit money to be able to use it. In that case, you can simply do so with a credit or debit card as you would with a regular cryptocurrency exchange. Or you can fund it with cryptocurrency, but again you need a wallet to be able to do this.

Step 5. Place a bid

Most of the time, bidding for an NFT is simple and it’s the same process as buying anything on eBay. Each auction lasts for a fixed amount of time and you can place bids at any point up until it closes. Occasionally, there’s an option to buy at a fixed price and you can click to get it instantly.

Remember that you might have to pay a fee on top of the listed price. Most commonly that comes in the form of a blockchain fee, or ‘gas fee’, which is a bit like a delivery charge. You have to pay the miners to do the work of adding your transaction to the chain.

Step 6. Get your new NFT

Once you’ve won an auction you have to settle the bid before you can take ownership of the NFT. That means sending the funds to the creator, at which point the NFT will be transferred into your wallet and is now yours to own and use as you see fit.

1
Min. Deposit
$1
Exclusive promotion
user-score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Cryptocurrencies
Full Regulations:

Should I invest in non-fungible tokens?

It depends on the asset that the token represents and what you want to do with it. As NFTs can take the form of anything from digital artwork, to items that can be used in online games, to trading cards, the answer can be quite different depending on what you’re interested in.

If you’re buying a token as part of a collection, or in order to get your hands on a rare in-game weapon, then you need to decide if what you’re getting is worth the price. On the other hand, if you’re looking to buy something as a means of speculation, then think about whether the NFT is going to rise in value over time.

Whichever approach you take, it’s going to involve some risk. The NFT market is a relatively new one, so it’s difficult to predict with any certainty what’s going to happen in the future. It’s also unregulated and all transactions take place in cryptocurrency, where the value of a coin can be highly volatile. Both factors mean that your NFT could suddenly rise or fall in price due to factors outside of your control.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

Still undecided?

To help you choose whether an NFT is for you, here’s a list of the pros and cons of owning one. After that there are some answers to a few more questions, with advice on timing your purchase and what the long term outlook might be.

Pros

  • Exciting new asset class that has seen lots of recent interest
  • Could be the future of authenticating digital art
  • Every NFT is unique
  • One of the easiest ways of spending cryptocurrency

Cons

Now here are three final questions to help you decide whether to invest in an NFT.

1. Is now a good time to buy an NFT?

It depends on the price of the item you want and what your goal is in buying it. If you want to get a piece of artwork or any asset that you expect to appreciate in value over time, then it’s usually better to get in sooner rather than later.

You might also want to consider the state of the overall NFT market and whether it’s going through a boom or a slower period. During booms, prices tend to be inflated, while if there is less activity you might be able to find some cheaper opportunities. You can use the latest analysis in the links below to help judge how the market is doing.

Shares of Funko (NASDAQ: FNKO) closed nearly 45% higher in March as the company made steps towards entering the non-fungible tokens (NFT) market.  Fundamental analysis: A majority stake in TokenHead developer acquired to enter the NFT market Pop culture products company Funko announced Thursday bought a majority stake in…

2. What problem do NFTs solve? What are their future prospects?

NFTs provide a decentralised way of verifying ownership, allowing both physical and digital assets to be traded quickly and securely. By combining online auction houses with blockchain technology, NFT marketplaces provide both an easy way to spend cryptocurrency and a new method of digitally proving who owns an asset.

The future prospects of NFTs are hard to determine, as the industry is still very young. Some people believe that the space will expand to become the go-to way of purchasing things online – and as our lives become increasingly digital this could entail exponential growth. However, others see NFTs remaining a fringe interest that remains unadopted by the mainstream, or a possible collapse of the industry if any of the main databases are hacked.

Overall, every NFT is unique and therefore each of them will have their own benefits and drawbacks as an investment prospect. Make sure to do your research before buying an NFT – both in terms of the space as a whole and the contents of the specific NFT you’re buying – and don’t invest money you can’t afford to lose. To help you keep up-to-date with latest movements in the NFT markets, read our recent news right here:

The Mercedes F1 Team and leading crypto exchange FTX announced a new long-term partnership spanning multiple race seasons. Both the cars and the drivers will display FTX’s logo. Some branding elements will be revealed during the next big racing event – the Russian Grand Prix on 26 September. FTX’s logo…
DappRadar, the biggest global store for dapps, published two new reports on trends within the blockchain gaming sphere, most recently ‘Blockchain User Behavior Report – Games Perspective’. Invezz summarizes the most important findings. Industry interest is shifting towards games The number of Unique Active Wallets linked to game dapps was…
The Philadelphia 76ers and dynamically growing exchange Crypto.com announced a new partnership today, with which Crypto.com becomes the team’s official jersey patch partner. This is the first NBA partnership for Crypto.com, which has more than 10 million users worldwide. Fans of the team can buy their first-ever non-fungible token (NFT)…

3. Do you want to invest in NFTs for the long term?

Some NFTs are suited to holding for the long term, while others are geared towards more regular trading as they fluctuate in value. Here are some final considerations depending on what sort of NFT you’re interested in.

Considerations for a long term investment strategy

This approach is best if your NFT is a piece of art or any artefact that might appreciate in value over time. Sign up to a marketplace and get a wallet so that you can store your item safely.

Considerations for a short term trading strategy

A method based on regular trading is ideal for assets like trading cards or in-game items that might fluctuate in value over a smaller time. To trade NFTs like this, you want to choose a marketplace and a wallet but also stay on top of any events that might affect the price of your NFTs.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.
Max Adams
Lead Content Editor
Max has a keen interest in the transformative power of technology and is the founder of a platform called Current Frequencies. When not at his desk,… read more.