NFTs, or non-fungible tokens, are virtual tokens that represent ownership of something inherently distinct and scarce, such as a piece of art or music, and cannot be mutually exchanged. Essentially, buying an NFT is like buying a piece of art, only digital. Instead of owning a picture to hang on your wall, you own a digital file. NFTs have quickly become one of the fastest growing types of digital asset, with investors seeking to own these unique, blockchain-based instruments. While NFTs have been around since 2014, they have continued to increase in popularity in recent years, with NFT sales reaching $25 billion in 2021.
NFTs are typically built with the same programming as cryptocurrency, but that is the extent of their similarities. Cryptocurrencies are fungible, meaning they can be traded for one another. For example, one Bitcoin has the same value as another Bitcoin. All NFTs are unique, rendering them non-fungible, meaning two different NFTs will hold different values. Cryptocurrencies are built using blockchain technology, which is a distributed public ledger that records transactions. NFTs typically exist on the Ethereum blockchain, although other blockchains support them as well.
NFTs are a way for artists to sell directly to the consumer without having to rely on a gallery to host their work. When they sell directly to consumers, artists keep all the profits, and can even elect to make royalties any time the NFT is sold to a new owner.
You can buy NFTs with credit or debit cards, ACH, direct deposits, wires, cash (through CoinZoom Cash), or any of the 40 cryptocurrencies on our exchange.
You must be logged in to your verified and funded the VPSVIL account to make a purchase.
1- Navigate to the NFT you’d like to purchase and click the Buy Now button;
2- Using your preferred device, click the PAY button;
3- Decide which currency you’d like to pay with. To pay with USD click Confirm at the top of the page. To pay with a different currency in your wallet, simply select the one you prefer on the right side of the page.
4- To purchase via the mobile app, scan the QR code with your phone. You can then decide which currency you’d like to pay with on the app. To pay with USD, select Pay in USD. Otherwise, select whichever currency in your wallet you prefer to pay with.
The purchase is now complete. You can navigate to your account by clicking My Account on the upper right side of the page and then navigating to Wallet, where your NFTs will be stored.
