How to Buy NFT?
NFTs are all the rage these days. Some people are buying houses on tropical islands by just putting selfies on the blockchain. But how do you buy them?
Disclaimer
You know what’s coming. You just got interested, the profits for NFTs are real, you could… wait! We have to warn you about safety.
Yup. It’s a long list. Trade responsibly, keep data safe, listen to your loved ones, keep a cool head, remain professional…There are a few other pitfalls you should know about, too. Sorry! And DYOR.
What are some things to watch out for when buying NFTs?
When it comes to buying NFTs, there are a few key things to look out for.
- First and foremost, make sure that you are buying from a reliable and trustworthy source. There are some unscrupulous actors out there looking to take advantage of people interested in NFTs, so be sure to do your research before investing in any particular asset.
- Ideally read every book in the library about what you’re about to get into. Fail to prepare=prepare to fail.
- Make sure to keep all your data secure. Cold wallets are great, but what about steel seed cards? Or maybe disguising your information to look like something else? Or both?
- When making a purchase, pay attention to all of the fine print and be aware of any potential fees or costs associated with the transaction. Taking the time to understand all of the details can help ensure that you get the most out of your investment.
- Additionally, the value of NFTs can fluctuate significantly, so it’s important to keep track of the market and understand how different NFTs may be affected by changes in the market. Only a small percentage of these get sold for real money. Research shows only the ones a lot of effort was put into survive and get profitable.
Our friend is stuck with a few NFTs someone sold them. We’re sad. If you haven’t already, Charlie The Unicorn video series are a must.
Be warned: this is a sober, if heart-breaking, metaphor of what happens when you buy NFTs on pure enthusiasm and no research.
Digital fingerprint
Oh, by the way, your digital trail is a real thing. Therefore, be really careful when it comes to all things connecting crypto and credit cards.
The only safe way to buy NFTs is with crypto you’ve been paid to do work with. Otherwise, you’ll be beeping on someone’s radar. You’ve been warned.
Where can I buy NFTs?
NFTs are currently available on a variety of different platforms, each offering their own unique features and services.
One of the most popular NFT marketplaces is OpenSea, which allows users to buy and sell a wide range of digital collectibles, including artwork, game items, and digital assets. OpenSea also offers a variety of tools for developers to create their own digital marketplace and list their own NFTs. It’s free with Polygon, and takes less time than making a cup of coffee.
Rarible is another popular NFT marketplace where you can buy, sell, and trade rare digital items. It has an open marketplace where anyone can create their own digital collectibles, as well as a curated marketplace with exclusive items only available on Rarible. What makes the platform stand out? The items gathered here are, you guessed it, rare.
The Ethereum-based decentralized application (dApp) CryptoKitties is another great platform for buying and selling NFTs. CryptoKitties is specifically designed for trading digital cats, but you can also purchase other types of digital assets, such as art and in-game items.
In addition to the major NFT marketplaces, there are also several smaller platforms that specialize in specific areas or genres. Some of these include Decentraland for virtual world assets, SuperRare for hard-to-find digital art, and so on.
Finally, if you’re looking to invest in NFTs, you may also want to check out a cryptocurrency exchange. Several exchanges, such as Binance and Coinbase, offer a range of digital assets that you can purchase with fiat currency or cryptocurrency.
No matter which platform you choose, it’s important to do your research and make sure you understand the terms and conditions before committing to any purchase.
Remember that all purchases of NFTs come with their own risks and rewards, so make sure you know what you’re getting into before taking the plunge.
Who made a lot of money selling NFTs?
- A 36-year-old who made over $109,000 selling NFTs
- The Adam Bomb Squad NFT collection, which made more than $50 million in sales volume
- Yuga labs recently bought 400 CryptoPunks and 1,700 Meebits from Larva Labs.
Final thoughts
In the end, the answer to your question of “How to buy NFTs?” is the same as the answer to a century-old Buddist monk philosophical questions that goes: “How are porcupines made?”.
“Very carefully”.
