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How to Buy an NFT on Binance NFT Marketplace

2021-07-01 08:10
You can now buy NFTs on Binance NFT Marketplace using a fixed price, by making an offer to the seller, or bidding in an NFT auction.
NFT purchases are subject to a simple fee structure that supports creators and depositors. Creators who mint NFTs receive a 1% royalty payment from all subsequent trading, as well as those who deposit external NFTs into the Marketplace.
To purchase an NFT, you’re first of all going to need a Binance account. It’s simple to do in less than five minutes.
To learn more on how to get started on Binance, please refer to How to Get Started on Binance to Trade Binance NFTs.

How to bid in an NFT auction?

If you’ve found an NFT for sale using the Auction sale method, you can place a bid. The highest bid at the end of the auction can purchase the NFT.
1. Go to the listing page and click [Place a Bid].
2. Enter your bid amount in the pop-up window. Please take note of the minimum markup. It refers to the minimum amount you need to increase from the last bid to place your new bid. Click [Place a Bid] once you’ve input the bid amount.
3. If you don’t have any or enough balance in your Funding Wallet, you will be prompted to top up. Currently, you can use BNB, BUSD, or ETH to interact with Binance NFT Marketplace.
4. Once you’ve successfully placed your bid, you’ll see a confirmation. Please note that once you have placed a bid, it cannot be canceled and your funds will be locked, until another user places a higher bid or when the auction ends.

How to buy a Fixed Price NFT?

Purchasing an NFT in an instant sale is simpler than placing a bid in an auction. Once you’ve found the NFT you want to buy, click [Buy Now] to pay the full price.

How to buy a Mystery Box?

A Mystery Box contains a surprise NFT that is only revealed when you open the box. There are four kinds of NFT you might find: super, super rare (SSR), super rare (SR), rare (R), and normal (N).
1. Go to [Mystery Box] and you’ll then see a fixed price for each box, along with a changeable quantity.
2. You’ll also find information on the number of NFTs available and their percentage chance of appearing in the Mystery Box.
Select the number of Mystery Boxes you’d like to purchase and click [Buy].
3. An [Order Detail] pop-up will appear asking you to confirm your purchase’s details. Click [Confirm] once you are happy with the transaction.
4. After purchasing your Mystery Box, you can either choose to open it straight away or add it to your collection. Note that Mystery Boxes are non-refundable. However, you can sell the Mystery Box on the Marketplace or open it and sell the NFT inside should you wish.

How to make an offer on NFTs or Mystery Boxes?

To provide more flexibility for buyers to purchase NFTs and Mystery Boxes, Binance NFT introduced a new [Make Offer] function. You can now make offers on fixed-price NFTs and Mystery Boxes on the Binance NFT Marketplace.
1. Go to the NFT or Mystery Box you wish to buy and click [Make Offer].
2. Set your offer’s asset, price, and expiry date, then click [Confirm]. Please note that the minimum price for an offer is 1 BUSD and you can only make 1 offer for each NFT/Mystery Box. The offer amount will be frozen from your Funding Wallet. Your assets will be automatically released when the offer is canceled or expired.
If your account balance is insufficient, click [Buy Crypto/Deposit].
3. To view your offers, go to [Profile] - [User Center] - [Offers] and click [Offers Made].
Please note that you can only have a maximum of 20 active offers. To make new offers, please cancel some of your active offers first. You can cancel an offer by clicking [Cancel], and your assets will be automatically released.
You can choose to sell your NFTs and Mystery Boxes using a fixed price, an Auction, or accepting offers that buyers make. You can also accept payments in several different cryptocurrencies. For more details, please refer to the guide.