How to Buy an NFT on Binance NFT Marketplace
Along with minting NFTs, Binance NFT Marketplace allows users to buy newly created and deposited NFTs. Sales follow an Auction or Fixed Price format, payable in several different cryptocurrencies.
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.
How to bid in an NFT auction
If you’ve found an NFT for sale using the Auction sale method, you will have to place a bid to have a chance of winning. The highest bid at the auction’s end will end up purchasing the NFT.
On the listing below, you can see the NFT’s description, image, bidding history, and other details. Once you’re sure you want to place a bid, click the [Place a Bid] button.
You’ll now see a pop-up box letting you enter your bid amount. Take note of the minimum markup: this is the minimum amount you need to increase the last bid to place your new bid. Click [Place a Bid] once you’ve input the correct amount.
If you don’t have any or enough crypto in your account, the Marketplace will prompt you to top up your spot wallet. Make sure to purchase either BNB, BUSD, or ETH to interact with Binance NFT Marketplace.
Once you’ve successfully placed your bid, you’ll see a confirmation splash screen. Please note that once you placed a bid, it cannot be canceled and your funds will be locked, until another user places a 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 the [Buy Now] button 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).
To purchase a Mystery Box, head to the Mystery Box page for more information. You’ll then see a fixed price for each box, along with a changeable quantity.
On the page, 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].
An [Order Detail] pop-up will appear asking you to confirm your purchase’s details. Click [Confirm] once you are happy with the transaction.
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.