How to buy NFT’s in India [EXTENSIVE GUIDE]
Meaning of NFT:
NFT India, Does it have any scope?
Guide to buying NFT in india:-
There are many guides on the internet If you are planning on how to buy NFT in India, but most of them are vague and have unclear instructions.
When it comes to an NFT trading platform in India, there are many platforms, like the Wazirx NFT platform that is about to launch in India
In the guide given below we will not only provide you with instructions on how to buy NFT’s in India, but we will also give you some of the best tips regarding the trading of NFT India.
To start off with NFT buying in India, first you will need to make an NFT marketplace account. There are many marketplaces on which you can buy NFT in India. Some of the best ones are given below:
Opensea: Opensea is an NFT marketplace that operates on the cryptocurrency named Ethereum.
Users can interact with each other to buy and trade non fungible tokens.
You can buy a vast variety of NFT articles on this platform. Some of the most expensive and popular NFT’s have been sold on the Opensea NFT platform.
NiftyGateway: Nifty gateway is owned by the cryptocurrency exchange called Gemini. You can either use the cryptocurrency called Ethereum or you can link your credit card with it directly and use your bank directly.
Wazirx NFT platform: although not released yet, the wazirx NFT platform is going to be the first NFT platform that is developed natively in India and will support all Indian banks.
If you are thinking of how to buy NFT in India, keep the wazirx NFT platform in mind.
Begin with funding your account.
Since most NFT’s use Ethereum as their native crypto, you will need to make an Ethereum wallet such as coin base.
You can then link your crypto wallet to your NFT marketplace and then proceed to buy NFT in India.
For that you will need to buy Ethereum by linking your bank account to your Ethereum wallet.
Buy your NFT, you can do so by logging onto the Wazirx NFT platform.
Most NFT marketplaces in India have an auction format, that is, in order to buy NFT’s in India, you will have to make a bid on the article you are willing to purchase.
You can either buy your NFT from a primary NFT marketplace or a Secondary marketplace, both of which have their own upsides and downsides.
How to make an NFT in india:
Making NFT’s is not a hard task to do if you are following the right guides and steps. First off, you will need to make an NFT marketplace account that will enable you to create and sell your own NFT’s.
The best thing about selling NFT’s in India is that you don’t need to know anything about blockchain or any other technical stuff.
The only big hurdle that will stand in your way will be getting money off your NFT’s.
Most NFT’s by beginner artists sell for very cheap and theirs sales are also very low, so you will need to get famous and have some good publicity in order to start earning heaps from your NFTs
NFT and its future:
Frequently asked questions(FAQs) about NFTs:
An Nft is a type of a cryptocurrency which stands for Non Fungible Tokens, which are essentially a proof of ownership of an article.
These are a type of Ethereum blockchain tokens which each possess a specific value and identity, which does not enable it to be exchanged like normal cryptocurrencies.
No current laws in India state that buying of NFTs is illegal in India. The crypto still lies in the grey area so there are no restrictions on buying them. So in short, yes, it is completely legal to buy and sell NFT in India.