In recent years, cryptocurrency and NFTs have risen in popularity as investment vehicles. NFTs are unique digital assets that are bought and sold on blockchain platforms, offering ownership and provenance of various types of content, including art, music, and videos. One popular NFT platform is Polygon, which has gained a lot of attention from investors and collectors due to its low transaction fees and fast transaction speeds. In this article, we will explain how to use Coinbase to buy a Polygon NFT.
Set up a Coinbase account
The first step to buying a Polygon NFT on Coinbase is to set up an account. Skip this step if you have an account. Visit Coinbase and select “Get started” to sign up. Your email, password, and name will be requested. You’ll need a government ID and a selfie to authenticate your account after creating it.
Add funds to your Coinbase account
To purchase a Polygon NFT on Coinbase, first of all, you need to fund your account with cryptocurrency. But this can be only accomplished by attaching a bank account or credit card to your Coinbase account.
Select “Accounts” and “Add a payment method” from the drop-down menu to link a bank account. Link your bank account using on-screen instructions. “Add a payment method” on the “Buy/Sell” menu lets you add a credit or debit card. Link your card using on-screen instructions.
Connect your Coinbase account to your Polygon wallet
You must link your Coinbase account to your Polygon wallet after you have funded your Coinbase account. Select your Polygon wallet by clicking on the “Accounts” tab. Click on “Send” and enter the address of your Polygon wallet. Confirm the transaction and the funds will be transferred to your Polygon wallet.
Browse and select a Polygon NFT
Now that you have funds in your Polygon wallet, you can browse and select a Polygon NFT to purchase. There are several NFT marketplaces that support Polygon, such as OpenSea and Nifty Gateway. Browse through the available NFTs and select one that you like. Before making a purchase, verify the price and any additional fees.
Purchase the Polygon NFT
Once you have selected a Polygon NFT, click on the “Buy” button. You will be prompted to confirm the transaction and enter your Polygon wallet address. After you complete the transaction, Polygon transfers the funds to the seller’s wallet. The Polygon NFT will then be transferred to your Polygon wallet.
Steps to Remember to Buy a Polygon NFT
- Polygon is a network that enables fast and cheap transactions for Ethereum-based applications.
- NFTs are unique digital assets that can represent anything from artwork to music or videos.
- Start by creating a Coinbase account and linking your bank account.
- The next step involves making a Coinbase purchase of either Ethereum (ETH) or Bitcoin (BTC).
- Next, you need to transfer your ETH or BTC to a Polygon-supported wallet like MetaMask or Coinbase Wallet.
- Once your funds are in your Polygon-supported wallet, you can visit an NFT marketplace like OpenSea or SuperRare to browse and purchase NFTs.
- When you find an NFT you want to buy, you can place a bid or purchase it outright using your Polygon-supported wallet.
- Finally, you can store your NFT in your wallet or transfer it to another wallet or marketplace.
Conclusion
A Polygon NFT purchase on Coinbase only requires a few clicks of your mouse. Create an account with Coinbase and fund it. Then, connect your Coinbase account to your Polygon wallet and browse for a Polygon NFT that you like. Finally, purchase the Polygon NFT and enjoy ownership and provenance of your unique digital asset. Always do your own research and keep in mind the hazards before putting money into cryptocurrencies or NFTs.
Disclaimer: The content provided by BchainMeta aims to offer informative insights and should not be construed as investment advice. Engaging in the trading, purchasing, or selling of cryptocurrencies carries inherent risks and readers are strongly urged to conduct their own research prior to making any investment choices.
