It is unknown why anyone would want to pay 400 ETH or huge sums for a rare NFT token . We will simply tell you where there are some technical aspects in the blockchain that make NFTs an important asset. The ability to create, sell and exchange digital items, game artifacts and other things attracts a large number of collectors and dealers, as well as artists and programmers working in the field.
The NFT space is growing at an astonishing rate but for beginners buying your first NFT may not be an easy task so in this article we are going to tell you how to choose the most promising NFT tokens to invest in .
Which platform is better to choose NFT
Today there are many online NFT marketplaces that operate according to their own rules and algorithms. However not all services can offer their customers an easy to use interface and a decent set of combinations as it is also worth noting that the value of NFTs also depends on the underlying blockchain. If an irreplaceable token is created in one of the major ecosystems, then NFT has a higher value than NFT, and it depends on the blockchain.
Therefore, when choosing a site to buy nft, you should focus on its reputation and the underlying blockchain of NFT tokens. Whereas, it is good to have two or more strings supported. One of the best NFT exchanges is Binance NFT .
How to choose NFT
If you are buying an NFT asset for resale, consider the following factors.
- Reputation of the founders of the project
- The presence of rare features and rarity of this group in the market
- Advantages and benefits for buyers
- Rating on NFT Analytics Sites
- Reasonable cost . Many failed projects had exorbitant prices. Where good NFT will be priced reasonably. But that doesn't mean it has to be very cheap. Where the evaluation takes into account the most expensive value.
- project environment . It is an important criterion as it is the creator's attitude towards his work. Where the difference between an unknown artist and a big star can often be that the other has already made the first sale that changed his life and another did not do and does not know how to deal.
It is not desirable to purchase NFT kits from anonymous founders and authors who have negative reviews.
Is it possible to make money with NFT resale?
In theory yes . And as we hope the profits will exceed all expectations, but you must understand that this process is risky and can fail so any investment should be done wisely.
How to know the popular NFT
You can do this with the help of market search filters where you can view the rating of famous tokens, groups or artists. But you should also keep in mind that celebrity-signed art and rare NFT objects, basketball and baseball as well as blockchain gaming items are very popular.
Filters to find rare NFT
There are two types of NFT pools on Binance NFT.
- The Premier Collections are created in collaboration with Binance NFT.
- Binance NFT does not verify standard groups.
This segmentation will help you decide as if you want to get your first NFT but are having a hard time finding quality projects then you can search for NFT on the leaderboards which display the best sellers, groups and creators in the Binance NFT Marketplace .
The filters are available on the Binance NFT marketplace.
- Best groups
- Increase Sales
- best authors
It can display the popularity rating of up to the last 30 days, a week, or a single day. You can also highlight the most preferred, expensive or cheap combinations.
And if you want to know what's new, select Newly created or recently listed and you can see which NFT is about to expire in the "Finishing soon" section.
How to buy NFT on Binance
To purchase NFT on Binance you must have a verified account on this platform. Instructions on how to create an account and approve KYC can be found in a separate review on our website . It is necessary that you have a certain amount in the exchange deposit and you can pay for the purchase of NFT using BNB, BUSD and ETH cryptocurrencies. You can trade on the spot market or P2P binance.
Where they are available in the NFT section. You just have to sort the filters as you want and choose what you need and then you will need to click on the NFT you want to buy and it will take you to the transaction processing page and you can buy right away.
And to do so, click on “Submit a Price” and submit your price. If the asset is sold at public auction you must bid and wait or buy back the NFT if this option is available, just click "Buy Now" and confirm your details. Funds will be deducted from your deposit and you will receive an NFT.
Where to save NFT
On Binance you can store your purchased assets in your account and even put them up for sale whenever you want and you can withdraw the NFT to a personal wallet as long as it is compatible with the market and the underlying network.
And to withdraw from Binance to your wallet . I use the Metamask browser wallet or the Trust Wallet mobile app. We explained how to withdraw NFT in a previous article
conclusion
NFT trading is a complicated business so I can advise beginners to rely on their own taste and consider qualifications and other selection criteria but buy what you want and buying an NFT is just as likely to have a future as buying a winning lottery ticket
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