Buy your first NFT
We’re in the midst of a technology revolution, with nearly every tenet of contemporary civilization undergoing a digital transformation. If you don’t believe us, consider when you last utilized a physical map, phone book, or hailed a cab from the nearest street corner. These developments and inventions occur at such a rapid pace that it is all too easy to get overwhelmed or even despondent. However, cutting through the language reveals a fairly familiar world reinterpreted via a future vision. Suddenly, getting around isn’t that difficult.
Unfortunately, we’ve gotten ahead of ourselves. Let’s start with the basics because we promised a beginner’s guide to buying your own NFT. Oh, and if you’re ready to buy some Ether to buy NFT, investment site eToro offers all the necessary tools. Here’s everything you need to know for everyone else.
Do your own research
The current NFT market is quite congested, with numerous bad actors. Meanwhile, the value of even genuine initiatives and creations can plummet instantly. For these and other reasons, you should conduct considerable research before making your first purchase.
There are many resources and forums dedicated to NFTs, and most collectors and creators are willing to share their knowledge and experience. A credible NFT should also have some transparency associated with it. Look for projects or works that link to a social media account or a Discord server where you may interact with other people.
Also, don’t give in to peer pressure or FOMO while acquiring your first NFT. The notion is that crypto and NFTs are here to stay and that there will be more chances in the future. Of course, if you just want to play about with some spare cash and don’t care if you lose it or not, don’t let us stop you.
Get some Ethereum
Because the majority of NFTs are created on the Ethereum blockchain, you’ll need its crypto asset, Ether, to buy one. Fortunately, ether is one of the most widely used cryptos, and it can be easily acquired (and traded) on online exchanges like eToro. Expect to pay networking costs along the way, which will vary depending on the current level of blockchain activity.
Choose a marketplace to buy your first NFT
The quest for an NFT marketplace, like all things Internet-related, can lead to an unending supply of rabbit holes. We recommend sticking with OpenSea, the most popular marketplace, for the first time around. Here’s what you should do next if you followed the steps above:
- Visit OpenSea, click the wallet icon, and connect your MetaMask wallet by following the steps.
- Once your wallet is connected, use the search option to locate the NFT you want to purchase or browse through OpenSea’s extensive list of NFTs until you discover something that appeals to you.
- Make an offer using the “Make Offer” option, or buy the NFT for the quoted price using the “Buy Now” option.
- You have now acquired an NFT. Congratulations!
The technological train is already moving, but there’s still time to board. Even for newcomers, investing in crypto or equities may be a secure and simple procedure thanks to services like eToro. Sign up now and you’ll soon be on your way to making your first NFT purchase.