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“At the time the iPhone was created, nobody would’ve thought that one of the killer apps was going to be hailing a ride,”
Five NFT marketplaces
Binance NFT Marketplace
VirgoCX NFT Marketplace
The VirgoCX marketplace, which is one of the features of the Canadian-based VirgoX crypto exchange, is an over-the- counter marketplace that allows buying and selling NFTs in ETH. Creators can apply to create a collection, and buyers can also register using an email, where they can get access to buying options through agents. The marketplace is easily visible when landing on the NFT marketplace, and you can see the image and pricing clearly to give you an idea of how much each item costs. Here is an example of some of the NFTs and how they are presented on the VirgoCX NFT website:
To buy an NFT, you need to load your account with funds prior to making a purchase. Because the NFT site is not tied to a central, decentralized crypto exchange, you will need to buy some Ethereum and send it to your VirgoCX wallet. Once you have some funds in your wallet, you can go ahead and begin shopping by choosing your NFT, then contacting an account manager to select your over the counter NFT and begin the settlement process.
Moreover, you also have the option to subscribe to The Pulse newsletter that showcases new and upcoming NFTs, as well as trends and industry insights. There is a slight commission for each of the purchases that is charged by VirgoCX, and they are as follows:
There are gas fees also associated with the transaction, and they are determined at the time of purchase as relevant to the Ethereum blockchain. The service is customized through the brokerage and offers a more personalized experience than some of the other decentralized NFT marketplaces out there.
Crypto.com is a cryptocurrency platform similar to the Binance Exchange, and offers users the opportunity to also engage in the buying and selling of NFTs in their NFT website area. Buyers can get their Ethereum or cryptocurrency directly from the exchange and deposit it to their wallet, then use these funds for buying the NFT of their choice. There are a range of creators on the platform where auctions are held for rare collectibles.
The interface is like many of the other marketplaces out there, with some slight variations on the browsing and navigation of the site. Some of the top categories that buyers can view are All, Art, Celebrities, Gaming, Sport, Music, Crypto as you can see in the following image:
To get started you will need to register on the site with a username, password, email, and enter your full name. Then you will need to buy some crypto on the exchange and use it for purchasing your NFT. The one thing about the Crypto.com NFT marketplace is that there are no commissions on buying and selling NFTs as they collect the 0.4% commission from the buying and selling of crypto on their exchange.
While this may change in the future, Crypto.com is the cheapest NFT marketplace that we reviewed because there are also no gas fees as the price of the NFTs are listed in USD. While Canadians are still eligible for registration and buying of the NFTs, they will have to use the exchange to purchase crypto into their NFT wallet prior to making a purchase.
The 5 Best NFT Marketplaces for Canadians in 2023
Buying an NFT can be a fun and enjoyable process if you like collecting non-fungible tokens as a form of ownership. The process can be daunting for first time users, as you will need to find an NFT marketplace that works for you. Today we will look at how to buy some Ethereum, as this is an essential component of the NFT purchasing process on some of the sites, and what you need to know about NFTs in Canada.
NFTs come in a range and variety of formats and sizes but are most often images that are converted into non-fungible tokens on the Ethereum blockchain. While there are other blockchains that support NFTs, such as Binance Smart Chain, Flow, Tezos, Polygon, Wax, and others, Ethereum is still one of the most popular blockchains for purchasing NFTs. There are plenty of NFT marketplaces that offer sales of NFTs, often branded as NFT marketplaces, or NFT launchpads, and these NFT marketplaces can be fun to visit to browse the wide variety of NFT collections available.
NFTs are often sold for cryptocurrency that can be bought on most crypto exchanges, and this is an essential part of the buying process. Once you visit an NFT markeplace, and login using a metamask wallet or other Web3 protocol, you will be able to begin shopping on the NFT website by browsing collections of NFTs so you can find one that suits you best.
You can search the collections by keyword, or just search the newest, most expensive, or trending items as part of your NFT purchasing journey. In this article, we will look at five NFT marketplaces that are good for Canadians to begin their journey in the NFT world, so that you will have a better understanding of how to go about beginning your NFT collection.
NFT marketplaces in Canada
Buying NFTs can be fun and exciting and choosing an NFT site is a great way to get started. There are centralized NFT marketplaces like the Binance NFT market and the Crypto.com NFT market where you must register and purchase crypto from their exchange to get started. The VirgoCX exchange is an over-the-counter process that is more personalized because you must deal with a broker during your purchase. It is also centralized, and likely requires some verification during the purchase process.
Most of the sites charge a small commission, and gas fees are respective to the blockchain that you choose to buy on. NFT storage and sending is usually done within your wallet, whether it be on a centralized NFT marketplace, or a decentralized marketplace like Opensea.io or Rarible, that both utilize the Web3 protocol. We hope you learned some good starting points for your NFT shopping and enjoy the 1000s of collectibles out there as you search to find the perfect NFT.