How to buy NFT

If you are asking yourself how to buy an NFT, then you are dealing with a new, moving future. Recently after reports that digital photos and pixel art images were bought for millions, every investor is asking himself this question.

You can find detailed instructions on how to buy NFTs further down this page.

Basically, NFTs can be bought on various online marketplaces. The following are the best known on the market: Binance, FTX, OpenSea, Nifty Gateway, SuperRare or Rarible. The largest marketplace for digital items, such as art or other assets, is OpenSea.

To be able to buy an NFT on one of these marketplaces, it requires a cryptocurrency. The most popular cryptocurrency that can be used to buy NFTs is Ether. If you have bought Ethereum on an online exchange, you can transfer it to a so-called “wallet”. It is then possible to buy NFTs on marketplaces via this wallet.

A wallet represents a digital purse with which one can make purchases on online marketplaces.

Here is a guide on what is needed to buy NFTs on the most popular NFT marketplace “Opensea”:

1. Create an account on a crypto exchange. There you can buy cryptocurrencies. Well-known exchanges are for example coinbase, kraken or binance. Here you can find the best crypto exchanges 2022.
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2. Buy them via the crypto exchange Ethereum, with which NFTs can be bought. From experience, we recommend buying about 200 USD worth of Ether to be able to pay for a small piece of art, including transaction costs.–
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3. Time to set up a Metamask wallet. When creating this wallet, one point is very important: write down your private key consisting of 12 words and keep it safe and if possible in several places. We do not recommend a digital backup. Because whoever gets hold of this private key has access to the entire wallet and therefore to your money. It is your responsibility not to lose it.
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4. The last step is to create a profile on Opensea.io and connect to the Metamask wallet. Since Metamask is a Chrome extension, this works without any problems and you can start buying NFTs right after the connection.

The hype surrounding NFTs will continue in 2022. Interesting NFT projects with good marketing are about to be launched and will therefore attract even more interested parties and investors to the market.

A regulatory phase cannot be ruled out; after all, there is still a long way to go for NFTs to become permanently established as a value investment. Furthermore, although there are already many potential areas of application, the major institutions and governments are far from ready to take advantage of this new opportunity.