Selling NFTs For Beginners: A Coinbase & Open Sea How-To
This article is about selling NFTs for beginners when they want to readily sell their NFTs. They need to go to Coinbase to inexpensively purchase cryptocurrency for depositing easily into a digital wallet in order to painlessly place NFT on the Open Sea.
If you’re reading this article, you’re probably new to the world of Non-Fungible Tokens (NFTs) and Ethereum and want to know how to sell your NFTs for cash or cryptocurrency other than Ether. If that’s the case, then I am excited to guide you through selling NFTs on the blockchain with Coinbase and Open Sea so that it’s easy, fast, and inexpensive! Let’s get started!
What are NFTs?
Non-fungible tokens (NFTs) are crypto assets with unique attributes. There are many types of NFTs, but the most popular use case is for digital art. Artists can create and sell their artwork as a unique token, ensuring that it’s always verifiable and provably scarce. Other examples include cryptocurrency collectibles, video game items, shares in a company, or any other item with a finite supply. It doesn’t matter what the specific asset is – all that matters is that there are limited quantities available to purchase. If you want to readily sell your NFT, then this guide will help you do so easily on the Open Sea by going through Coinbase first. The guide also includes tips for setting up an account on both sites if you haven’t done so already.
How do I start the process of selling my collectibles?
The first step is to create a Coinbase account and purchase cryptocurrency. Then, you’ll need to deposit the cryptocurrency into a digital wallet. Next, you’ll need to find the NFT you want to sell on the Open Sea. Finally, you’ll need to place your NFT on the Open Sea and wait for someone to purchase it. Once this has been done, they will be able to withdraw their crypto from the digital wallet onto another cryptocurrency exchange. They can then trade that currency for Bitcoin or Ethereum in order to receive their funds which they can transfer back to Coinbase. Alternatively, if they do not have an Ethereum or Bitcoin wallet yet, they can convert their crypto back into USD at Coinbase and withdraw those funds as well.
Why would I ever want to sell my collectibles?
Whether you need the money or just want to downsize your collection, selling your NFTs is a great way to get rid of items you no longer want. Plus, it can be a fun and easy way to make some extra cash. Here’s a step-by-step guide to selling your NFTs using Coinbase and Open Sea. 1) Create an account on Open Sea. If you already have one, move on to Step 2. 2) Transfer cryptocurrency from Coinbase into your digital wallet with Open Sea (you can also use crypto funds sent directly from another address). Make sure to use Bitcoin for the best rates! And never send fiat currency like US dollars via the internet.
Where can I learn more?
If you’re new to the world of non-fungible tokens, or NFTs, you might be wondering how to sell them. Well, you’re in luck. Just check out my ten-step guide. In “10 Steps to the cheapest way to sell NFTs,” I lay out ten of the best steps to sell NFTs at the most affordable rate possible, the table of contents includes:
- Buy some cryptocurrency
- Create a digital wallet to pay for your NFT
- Add some cryptocurrency to your wallet
- Set up an auction for your NFT
- Connect your wallet to an NFT platform
- Upload the file you want to turn into an NFT
- Promote auction
- Add a description to sell your NFT
- Pay the listing fee to sell your NFT
- Collect your money