Which wallet is perfect for buying NFTs on NFT STARS?
NFTs are non-fungible tokens, which means they are unique and can’t be replaced with something else. Bitcoin on the other hand is a fungible token, since you can directly trade it for another asset. However, a one-of-a-kind card is non-fungible. So if you traded it for a different card, you’d get something absolutely different.
We have previously discussed the essence of NFTs and the major platforms where they can be bought. We’ve also reviewed the process of buying NFTs, step by step.
Now it’s time to discuss which wallet is perfect for buying these non-fungible tokens.
The process of buying NFTs is quite simple on every platform. All you have to do is create an account on your favorite NFT platform, connect your wallet, choose your favorite artwork and place a bid or buy it outright. This procedure usually takes a few minutes.
However, the process of choosing the right wallet takes a bit more time as there are some peculiarities to consider when dealing with different types of wallets on such platforms. Today, we’ll review the most comfortable wallets for buying NFTs.
Almost all NFT platforms work with Web3 wallets like MetaMask. Actually, this is the perfect wallet for the process of buying NFTs and here’s why.
MetaMask is one of the most popular and established browser extensions. With MetaMask, users can freely interact with Ethereum, Avalanche, BSC, HECO and other ecosystems. In fact, MetaMask is one of the best Ethereum wallet solutions for accessing decentralized exchanges (DEX), gaming platforms and other online services.
The MetaMask wallet is compatible with Chrome, Firefox, Brave and Microsoft Edge. It is also able to hold tokens built on the protocol’s ERC-20, ERC-1155 and ERC-721 standards.
All you need to do after entering any popular NFT platform is to connect your wallet and place a bid or buy the artwork you like.
MetaMask provides a default gas fee for every single transaction. The fee will always depend on the status of the network on which the purchase occurs. If it’s too overloaded, you may face some difficulties. Moreover, users are able to adjust the gas fees and limits by entering the advanced tab, where the parameters can be customized.
The fee is the cost incurred when making a transaction, while the limit is the highest transaction cost a user is willing to pay.
However, you won’t be able to see your NFT on your Metamask wallet. To do so, you need to switch on the NFT platform you bought it from. (NFT STARS has implemented this option too, which will allow you to search for other buyers’ NFTs as well in the future). It is also quite problematic to track NFT details on Etherscan.
- 1.Trust Wallet is also compatible with the Ethereum blockchain. However, it differs a little bit from MetaMask. The main difference is that MetaMask is both a browser and a mobile-based wallet, while Trust Wallet is only available on a mobile. However, Trust Wallet supports a wider range of digital currencies, including ETH, Bitcoin (BTC), Litecoin (LTC) and Ripple (XRP). With Trust Wallet, you can also earn interest on your stored funds, deal with the non-fungible token (NFT) ecosystem and it acts as a separate exchange too.
- 2.Coinbase wallet stores your private keys directly on your device. Thus, you will be able to buy and store any ERC-20 tokens, add your list of NFT tokens and interact with DEXs. Moreover, you won’t lose custody of the underlying asset(s). All in all, Coinbase easily transfers funds to and from your Coinbase account and leverages other DeFi applications (like Maker) via their in-app browser.
- 3.Argent developers present their product as a “radically better crypto wallet”. They say that it is popular because of it’s great ecosystem, which allows paper backups, simple addresses and free transactions. Argent integrates a number of popular products for users to take advantage of.
Both MetaMask and Trust Wallet are now available on NFT STARS!
You can choose the extension you prefer and then operate with your funds on the platform.
Moreover, we are planning to launch more Web3 wallets on NFT STARS, so keep up with the updates!
In fact, you can choose your own fav in this race. However, MetaMask is preferable as it takes first place when it comes to everything that concerns ease of access with the Ethereum dApp world. The easy setup and cross-platform presence developed by its creators makes it a super user-friendly extension.
The wallet’s option to set the gas limit above or below the average fee allows you to freely choose how fast your transactions will be processed and how much you’re willing to spend on fees. This option is not available with most crypto wallets.