how to buy stepn nft: You Can Now Buy Stepn NFTs on iOS But You’ll Have to Pay the Apple Tax

how to buy stepn nft

At the time of writing this article, many users are facing/ have faced a delay in transfers between wallet and spending area. However, all of them got the SOL/ GST/ Shoe after waiting for 1 to 10 hours. If you are happy with the attributes and level of the sneakers, tap Buy Now. That might change once STEPN allows users to rent sneakers because then you could work your way up with no up-front cost. The price of Sneaker NFTs fluctuates based on supply and demand, as well as overall crypto market sentiment.

  • Some of the exchanges that list the GMT token include, MEXC Global, Binance, and Coinbase.
  • Since Sneaker NFTs are tradable game items, there’s no fixed price for STEPN Sneakers, even if you’re just a beginner.
  • Examples of cold wallets are Trezor Model T, Ledger Nano X, CoolWallet Pro, KeepKey, Ellipal Titan, and SafePal S1, amongst others.
  • We help you navigate this fascinating new world of non-fungible tokens and show you how you can integrate tokenization into your own business.
  • The price of Sneaker NFTs fluctuates based on supply and demand, as well as overall crypto market sentiment.

The value of each attribute is determined randomly at the time of minting within the min. and max. Once you have come across any sneaker that you like, tap on it to view its Attributes, such as Efficiency, Luck, and Comfort. Once you have transferred the SOL from Wallet to the Spending area, you are ready to buy a sneaker.

Understanding STEPN

However, once the STEPN team rolled out the sneaker renting feature, the upfront amount needed to play STEPN will get lower as you could rent an NFT sneaker instead of buying. To transfer SOL from Wallet to Spending Area, you need to tap on Transfer on the Wallet tab. If you have already transferred your SOL from your STEPN Wallet to the Spending Area, you can skip this step.

how to buy stepn nft

Users can purchase bundles of Sparks through the Stepn app (via Apple Pay) and then use them to buy the NFT sneakers, with zero interactions with cryptocurrency along the way. But the prices in Sparks are considerably higher in converted U.S. dollars than when purchasing the exact same items via the web marketplace using Stepn’s own GMT crypto token. A hardware wallet is a device that stores the private keys you need to receive or send crypto. Hardware or cold wallets are usually considered the safest way to store your cryptocurrencies as they offer offline storage, thereby significantly reducing the risks of a hack.

Users’ GST earnings can be spent in the game to level up or can be cashed out for real money. The gamification features are bolstered by using mystery boxes, customization of the NFT shoes, and stratification into levels. STEPN is the brainchild of Find Satoshi Lab, an Australian financial technology studio. Jerry Huang and Yawn Rong are co-founders of the project, with Huang having 10 years of experience in mobile game development. The founders have strong backgrounds in crypto, gaming, and serial entrepreneurship.

The next step is to input the amount of GMT to be purchased or the fiat amount available to be spent. Most exchanges will automatically convert the amount for investors to know how much they will spend and how much GMT will be obtained. After completion of the first two steps above, the next stage is to purchase your crypto. Individuals should go to the search bar to find GMT and click on “Buy GMT” or its equivalent. The project is the first and only mobile game to win the Solana Ignition Hackathon Gaming Track in 2021.

Exchanging Crypto for Fiat

After purchasing GMT, the next challenge is securely storing your tokens in digital wallets. We distinguish between a Software Wallet (Hot Wallet) and a Hardware Wallet (Cold Wallet). You will need to enter the verification code sent to your email to get verified and start trading. The project is the first sports app built on Solana, a Proof-of-Stake (POS) blockchain that processes over 700,000 transactions per second in an energy-efficient manner. You can buy any large-cap cryptocurrency on CoinStats’ buy crypto with bank card page, and swap that crypto for STEPN (GMT).

  • If you have already transferred your SOL from your STEPN Wallet to the Spending Area, you can skip this step.
  • Also, consider if the cryptocurrency exchange allows buying STEPN with your preferred payment method, such as a credit or debit card, another cryptocurrency, or a bank transfer.
  • It remains to be seen whether convenience outweighs the hassle of making users go to the web marketplace and handle cryptocurrency instead.
  • Simply select your preferred deposit method, double-check the numbers, and proceed to your purchase.
  • In any case, Manghani said that Apple’s massive reach makes this effort—and the higher prices for users—worthwhile as NFT app builders try to figure out how to play nice with Web2 platforms.

STEPN Sneakers are a crucial element of the game, however, they can also overwhelm many people due to the complex nature of all their characteristics. Prices fluctuate on a daily basis, therefore it’s difficult to give you a clear-cut answer. All prices are determined by supply and demand as well as by the price of SOL and BNB. Select your new Sneaker and start earning GST by moving outside at the optimal speed range of your shoe.

If you already do, then feel free to skip this step and move on to Step #2. Before you can actually buy STEPN sneakers, you need to make sure you have enough SOL (or BNB) in your Spending Account. Given the project’s potential, STEPN has attracted investments from notable angel investors in the space, including Santiago R Santos and Asia Partner of Republic Zhen Cao. It famously raised a $5 million seed round from the cohort of Sequoia Capital, Alameda Research, DeFi Alliance, Corner Ventures, and Folius Ventures, amongst others.

Steps to Buy STEPN Sneaker

Users equipped with NFT Sneakers – walk, jog or run outdoors to earn GST, which can be used to level up and mint new Sneakers. A player can choose to lease or sell their NFT Sneakers on the in-app marketplace; users’ GST earnings are stored in the in-app wallet, which has a built-in swap function. The app adds a game element, as users can randomly find and drop treasure boxes during their physical activity. With a move-to-earn consensus mechanism, STEPN aims to flip the script for exercise by combining Game Fi elements and Social-Fi for a healthier lifestyle. Its goals are to inspire millions to a healthier lifestyle, connect them to Web3, and combat climate change. Some cryptocurrency exchanges provide peer-to-peer (P2P) platforms to let users buy GMT from other users directly.

how to buy stepn nft

The easiest approach is to simply select a Sneaker at the current floor price (i.e. the cheapest available). The marketplace allows players to buy and sell all sorts of in-game items, including Gems, Minting Scrolls, and of course Sneakers. However, if you do not have any crypto yet, we recommend that you check out our guide on how to transfer Solana to STEPN first.

Your Sneaker NFT is your ticket to the game and as long as the Sneaker renting system hasn’t launched, this won’t change. Anyone who wants to play the game will ultimately have to learn how to buy STEPN Sneakers at some point. Let’s start off by clarifying that it’s actually impossible to get a STEPN Sneaker 100% for free. That’s why we strongly urge everyone to have closer look at our STEPN Sneaker guide if you want to make a more informed buying decision.

STEPN Sneaker Quality and Attribute Points

However, for the time being, you’ll always have to purchase your first Sneaker NFT, unless someone simply gifts you a shoe. If you want to learn more about Sneaker attributes, feel free to check out our guide dedicated to the 4 attributes of STEPN Sneakers. The STEPN app has an in-app marketplace that can be accessed by tapping the shopping cart button in the bottom right corner of the screen. Apple currently prohibits apps from sending users to an external web portal to pay for a service, or accept external payments, although legal challenges may force the tech giant to open up. A hardware wallet is more expensive than a hot wallet, with prices ranging between  $50 – $200.

how to buy stepn nft

Furthermore, developer Find Satoshi Lab has integrated Apple Pay for purchases using credit and debit cards. Typically, NFT marketplaces charge a much smaller platform fee for handling transactions—for example, OpenSea charges 2.5% of the sale price for trades. Mobile apps typically don’t allow for NFT purchases on the secondary market because of the complexities introduced by Apple and Google charging a 30% fee on most in-app purchases. That includes NFTs, which means app developers would either need to charge users that extra fee to transact on mobile, or otherwise eat the fee as part of the cost of doing business.

Sign up for a CoinStats account if you don’t already have one, and verify your identity. Connect your digital wallet that supports Ethereum-based tokens, such as MetaMask or MyEtherWallet, to your CoinStats account. Now, you need to go outdoor and tap on the Start button and start to walk, jog, or run according to your sneaker.

The crypto market is volatile, and managing your portfolio could get tricky if you hold multiple assets. Utilizing a portfolio tracker will help you keep track of your DYDX tokens and all your crypto investments from one platform at all times. CoinStats offers one of the best crypto portfolio trackers in the market.

This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. After confirming, traders can proceed to buy their GMT Token from the exchanges straight to their wallet. Background mode allows you even to earn GST while the STEPN app is turned off.

They store your keys online and are therefore less secure than hardware wallets, but their ease of use makes them ideal for newbies with a few tokens. For example, a particular pair of sneakers was listed for 110 GMT this morning, or about $31.40 based on the price of GMT at the time per CoinGecko. Buying the same NFT via the iOS app would cost $44.60 worth of Stepn Sparks at the fixed value of $0.10 per Spark (446 Sparks).

Many exchanges will allow you to use fiat currency like USD or EUR to fund your account. STEPN is both a cryptocurrency and a move-to-earn app that rewards users for going outside and being active. It encourages socializing while also assisting users in living a healthy lifestyle. Now that you’ve learned how to buy STEPN sneakers and actually acquire your first shoe, it’s time to get moving. In any case, Manghani said that Apple’s massive reach makes this effort—and the higher prices for users—worthwhile as NFT app builders try to figure out how to play nice with Web2 platforms. She described the Apple Pay integration specifically as “a giant step forward” as Stepn aims to onboard 100 million more users into Web3.

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