How To Buy NFTs In Australia: Beginners Guide[2022]

Are you wondering how to buy NFT in Australia? If yes, then you are at the right place. NFT, or, in other words, non-fungible token, is data added into a file to create a unique signature. It can be any digital format file like images, songs, tweets, etc. NFT is not a new term and has been around us since 2014.

But in recent times it is gaining importance as it has become one of the popular ways of buying and selling digital artworks

In 2021 the net worth of NFT in the market was a staggering $41 billion, which is an amount approaching the total value of the entire global Fine art market.

Every NFT is one of a kind and has a specific or, in other words, unique identifying code. We are sharing some of the steps which are required to buy NFTs in Australia so stay tuned till the end to buy your first NFT in Australia.

Where To Buy NFT In Australia?

If you are a newbie in NFTs, then the best recommendation will be to use CoinSpot. Among all other NFT marketplaces, CoinSpot is the largest and the most secured one. Although it is built upon the Ethereum network, it also supports Polygon and Klaytn for users who wish to avoid high gas fees.

CoinSpot is regarded as the best NFT marketplace and has the largest and the most diverse collection of NFTs worldwide. Along with this, the CoinSpot’s design and appearance are simple to navigate.

As per the fee per transaction, they take around 2.5% for every transaction made upon their platform. This is a moderate rate as some other NFT marketplaces can take more than 15% overall fee.

How To Buy NFTs On CoinSpot Australia?

It is simple to buy NFTs on the CoinSpot marketplace. All from depositing Australian dollars to buying and holding your NFT on the managed wallet, CoinSpot provides a remarkably user-friendly experience.

The easiest and safest way of investing over NFT is with a centralized exchange, as it reduces users’ friction and the cost of transacting on the Ethereum Network.

The most preferred method to buy NFTs in Australia is the CoinSpot digital asset trading platform.

Sign Up For The CoinSpot Platform

For starting up your crypto market, you will need an account where you can deposit your AUD or cryptocurrency, or NFTs. For all students, CoinSpot is highly recommended as regular offers are always there.

For signing up, type in your email address correctly, assign a secure password, fill out the Captcha form, click on the blue button for creating an account, and successfully sign in to your account. 

Verify

After signing up, you will be receiving a verification mail over your email ID. Open your provided email ID and further complete the verification process. After doing so, you will be further transferred to the deposit dashboard where you can continue your transactions.

It’s necessary to provide your exact mail ID as without your mail ID you will not receive the verification link and without the verification link, you will not be able to log into your account.

Deposit AUD

After successfully logging into your account and verifying yourself, you would be sent over to the dashboard. Over the dashboard, you will find the deposit button in the left-hand corner, and you will be further forwarded to the deposit page.

Over that deposit page, you have to deposit your AUDs from your bank account, using which you would be able to trade NFTs.

Buy Any Crypto

After depositing money in the CoinSpot wallet you can move to buy the Ethereum. The entire NFT ecosystem works due to Ethereum as it is decentralized and secure.

Decentralized means that everyone else over the blockchain can verify that you own that particular NFT, and you can impose your own rules on your NFT without pressing or guaranteeing custody to any third party. NFT is highly transportable or portable across the world in crypto markets.

Visit The NFT Marketplace

CoinSpot NFT marketplace is a decentralized platform that allows the trading and storing of non-fungible tokens. In other words, NFT’s a platform for auctioning crypto art and other NFT items that users can buy and sell.

On the crypto marketplace of CoinSpot, You can purchase or sell your NFT’S using simple steps. For participating in an auction over the marketplace, you should have your crypto wallet to keep your private transactional hashes and keys.

Buy Your NFT

After completing all the above steps, you can easily buy your NFTs. Over the marketplace, you can bid over different NFTs. Here you can also tag your NFT for sale. CoinSpot provides the best NFT marketplace with the lowest transaction fee.

For ensuring the highest possible profit you can hold your NFT as an investment and redeem it as per the offer that you are getting. CoinSpot makes this process easy for you.

What Is The CoinSpot NFT Bundle?  

Bundles are an exciting way to sell items on CoinSpot! Bundles allow you to list multiple items for sale at a single price and are commonly used in NFT categories such as gaming, music, and photography.

The CoinSpot package consists of 10 cryptocurrencies listed on CoinSpot for development, distribution, or innovation in the virtual world. The CoinSpot scheme is an easy way to access various blockchain projects.

Note: When you purchase a CoinSpot package, individual assets are automatically bought and stored in your CoinSpot wallet.

CoinSpot NFT bundle is a cryptocurrency package that can be purchased in a single transaction. Diversifying your portfolio bundles is the simplest and easiest way. CoinSpot offers a variety of cryptocurrencies to suit your needs and goals. Buy multiple assets in a single CoinSpot transaction.

CoinSpot NFT Bundle Fees

CoinSpot offers a load transaction fee. CoinSpot’s NFT bundle fee is around 2.5% of the overall transaction amount, While other marketplaces have more than 15% of the overall amount.

CoinSpot is one of the best platforms to buy NFTs in Australia because of its low fee and easy trading interface. CoinSpot is perfect for those who are starting their investment journey recently.

How To Buy NFTs On Binance?

At the age of a decade, cryptocurrencies and blockchain technology are beginning to find real-world applications. As a popular form of use, irreplaceable tokens (NFTs) are quickly gaining much attention, especially among artists, art collectors, and speculators. If you’ve decided you want some NFT action but don’t know how to buy NFTs on Binance, here’s how to get started.

Top Up Your Wallet With Crypto

After logging in to your Binance account. You can go to your dashboard and start purchasing crypto to top up your wallet.

NFTs cannot be bought directly, and you need Ethereum or other cryptocurrencies for it. Apart from Ethereum, there are many other cryptocurrencies that you can opt for, But among them, Ethereum It’s the best and the most chosen one.

Open NFT Marketplace

Binance NFT marketplace is a marketplace that includes all types of digital artworks and collectibles. Powered by Binance’s blockchain infrastructure and community, Binance’s NFT marketplace provides consumers with the highest liquidity platform to launch and trade NFTs. Binance NFT marketplace brings crypto artists, developers, and enthusiasts together on one platform to create and sell NFTs.

Choose Your NFT

Among the Binance marketplace, many NFTs are available. You should choose the best one and the one which you think is the most profitable one. Check the NFT collections carefully over the platform and choose the best. There are many NFTS available to trade upon, So one can always buy the most suitable NFT for yourself.

Buy The NFT

once you choose the NFT you wish to buy, click on the buy now button.

What Are The Benefits Of Buying NFTs?

If you have heard of NFT tokens, you must be considering investing in them but what exactly does “investing in NFTs” mean – and what are the benefits? It’s a good idea to understand each asset class before investing. Investors have many reasons why they want to buy tokenized assets on NFTs. Benefits of investing in NFTs include:

Anyone can invest in NFTs: Investing in tokenized assets is available to everyone. Ownership of NFT-token assets can be transferred more quickly and efficiently to people worldwide.

NFT Properties Provided by Blockchain: Digitally identifying properties using blockchain technology can make investor ownership of assets more secure. Blockchain technology can also make asset ownership more transparent.

What Are The Risks Of Buying NFTs?

Many investors also have good reason to be cautious when investing in tokenized assets. Disadvantages of NFT investments include:

NFT is not an asset class: NFT is usually – and wrongly – viewed as an asset class and not as a technological way of demonstrating ownership. General misinformation and noise around NFTs can lead to an increase and variability in the value of tokenized assets. 

Next-generation NFTs are extremely power-intensive: Most of today’s NFTs are powered by the Ethereum blockchain, which uses a power-intensive operational protocol called Proof of Work. NFT transactions use as much electricity as the average household in about a day. Investors looking to buy NFTs using fiat money like the US dollar may have limited options.

We hope that this How to Buy NFTs in Australia guide will assist you in buying your first NFTs with ease and provide you with the right information required to do so.

Also Read: How To Get Free NFTs?