You need to understand that there are several ways of buying an NFT depending on the project you’re interested in. This means that you need to know the exact blockchain your NFT was created on before you started.
Today, some of the most popular blockchain networks include Tron, EOS, Polkadot, Binance Smart Chain, Ethereum, and many others. However, do not get confused about all these names. You can always go for Ethereum, which is the most popular and leading blockchain service specializing in NFT issuance.
So, if you’re a beginner looking for a secure and reliable blockchain service, this will be a great starting point. This article will break down everything you need to know about buying NFTs and why this might be the next big thing.
If you’re just starting your crypto journey, you want to ensure you get your shares of Ether, Bitcoin, or any other cryptocurrency. However, you need to ensure that the cryptocurrency you purchase is the one your NFT provider accepts. When opening a crypto wallet, it’s important to understand that they come in two forms, namely custodial and non-custodial.
Custodial crypto wallets are basically online marketplaces where you can safely buy, sell or even store your cryptocurrencies. Most people who have started their crypto journey usually purchase their crypto via centralized exchanges such as Coinbase, Binance, Kraken, Robinhood, eToro, or BTC markets.
The best thing about using custodial crypto wallets is that it is as simple as signing up for your Google Pay account. All you’ll need is an email address, your name, a photo ID to verify your identity, a strong password to secure your account, and to link your credit or debit card to start buying. However, for now, you’ll need a non-custodial crypto wallet to begin purchasing NFTs.
Non-custodial crypto wallets basically give you full control of your NFT assets rather than to third-party such as Binance, Coinbase, Kraken, and the rest. It might interest you to know that you can easily transfer your cryptocurrencies from your custodial crypto wallet to a non-custodial one.
Remember that NFT marketplaces are basically the platforms you’ll use to store, display and trade your NFTs. This means that you have to pick an exchange service that suits your needs and is secure to use. These crypto exchange marketplaces are what Amazon is to products.
Some of the leading NFT marketplaces you ought to consider are OpenSea, Foundation, Rarible, Zora, SuperRare, Nifty Gateway, Mintable, Enjin Efinity, among others. But, even though these NFT marketplaces play host to thousands of NFT creators and collectors, it’s in your best interest to conduct thorough research before buying.
Many people have already fallen victims to fraudsters. Additionally, it’s important to note that different platforms involve different verification processes for the creators and NFT listings. Some have stringy verification processes, while others do not require them. It is up to you to decide which platform works best for you before you start investing.
This means that you get to create and mint an NFT on your website. The best thing about minting an NFT is that you become its first owner; thus you can sell it to whoever you want. The second way of acquiring an NFT is by buying it on a crypto exchange market such as OpenSea.
Regardless of the method you use to acquire your NFTs; you need to take note of the gas fee and confirm the transaction on your crypto wallet in order to complete the purchase.
- Set up your crypto wallet.
- Visit your preferred NFT exchange marketplace. Most people looking to purchase NFT art prefer SuperRare because it deals with rare art pieces.
- Signup to the marketplace and connect it with your crypto wallet.
- Approve the signature transaction and provide all the necessary details.
- Click on the marketplace and browse through the NFT arts available to find the one you’d like to purchase.
- Select the NFT art and make an offer or purchase it.
- Enter your bid amount and complete the transaction.
- Click on My Items to view the purchased NFT art.