What are Non-fungible tokens and how to trade NFTs? | Complete Guide for beginners

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What are NFTs?

NFT means non-fungible token, it’s a kind of digital asset in the metaverse and crypto world. 

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NFT can be anything digital like images, video, 3d objects, or your virtual avatar. Anything that is digital and it is stored over blockchain using complex algorithms is said to be NFT

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How to trade NFTs? | A complete guide 

· Trading NFTs is quite simple and easy, even if you are not an artist and you still wish to make money from NFTs, then trading NFTs is the best option.

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Opensea.io is the biggest NFT marketplace from where you can buy and sell NFTs in a simple way.

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Minimum requirement for trading NFTs

For trading NFTs, all you need is a virtual crypto wallet with sufficient funds in it.

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Step - 1 

Create an account on the NFT marketplace from where you wish to buy NFT. Usually, Opensea marketplace is considered to be the best option for beginners.

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Step - 2 

Select a virtual crypto wallet that is compatible with the marketplace, and add funds for buying NFTs. Metamask is good choice.

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Step - 3

Once the wallet and marketplace are connected together, you are ready for trading.

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Once you’ve made the payment, the NFT gets stored in your virtual wallet. And in case of bidding, the highest bidder gets the NFT after paying the bidding amount