You’ve heard the buzz of NFTs, you’ve done your research and now you want to start collecting, but where do you start? We have developed this guide with 4 easy steps to help you begin your NFT collector’s journey.
Step 1: Open a cryptocurrency wallet on an exchange platform.
In order to buy NFTs you will need to first invest in cryptocurrency, specifically ETH. There are several cryptocurrency exchange platforms to choose from when investing. Our favorites among those are Coinbase, Crypto.com, Gemini and Kraken. Do your research and choose the best one for your needs. NFTs are purchased with Etheruem, so make sure your first investment is in ETH.
Step 2: Create a MetaMask account and transfer your ETH.
MetaMask is an Etheruem wallet available as a Google Chrome extension and mobile app. To open an account on any of the NFT platforms, you will need an Etheruem wallet. To do this, simply download the MetaMask extension on Google Chrome, follow the instructions to set up a wallet, and then transfer your ETH into your new wallet. *Make sure you write down your seed phrase and store it in a safe place!*
Step 3: Start Shopping!
There are plenty of NFT marketplaces to choose from, however, OpenSea is the best place to start for beginners. OpenSea is a marketplace for NFTs that operates on Ethereum, and allows you to view NFTs for sale on several of the platforms. To create an account on OpenSea, simply create an account by attaching your MetaMask wallet, create your profile and start shopping. Our other favorite NFT platforms are Makersplace, Superare, Nifty Gateway (Owned by Gemini), and Rarible.
Step 4: Buy your first NFT!
This step is the easiest! Once you have your Metamask attached to your preferred NFT Marketplace, and you have enough ETH in your wallet, it’s a pretty easy process to buy. Most marketplaces are in an auction format, so you’ll need to submit a bid on the NFT you want to buy. *Keep in mind that most NFTs have what is called a “Floor Price” which is the lowest price that will be accepted for the NFT.* As long as you remain the highest bidder and the floor price has been met, you will win the auction and own your first NFT!
And that’s it! You now own your very first NFT! How does it feel? Follow us on Instagram and tell us what you bought and how your shopping experience was!