How to Buy Your First NFT

How to Buy Your First NFT

If you are reading this, I would think that you’ve already started to explore more deeply into NFTs.

And now, you’ve decided to check out NFTs and buy some. Great!

I’m so proud of you, for finally deciding to take action in the NFT space. As I always remind you, the time to take action is NOW!

I prepared a short guide here on how you can buy and sell NFTs.

Now, let me tell you, there is no one way to do this as there are several marketplaces out there that might have different processes, but I’m only going to add from one of the most popular NFT marketplaces — Opensea.

So, here it goes.

Looking for NFTs to Buy

The first thing you will do when trying to purchase an NFT is to look for the NFT that you would want to buy (Of course!).

There are several ways to do that.

The first option is to go into Opensea and browse through the millions of NFTs that are currently in the market.

If you are not familiar with Opensea yet, it’s actually like the eBay of NFTs, where people list out all their NFTs to sell them to the market.

See photo below.

What’s beautiful about Opensea is that it allows you to filter out options so you can only see NFTs that are according to your preference.

Another way to check out NFTs is to Google projects according to topics or subjects you’re interested in.

For example, if you are a mental health enthusiast and you want to buy NFTs that are related to mental health awareness or promotion, you can Google for “NFTs about Mental health” or “Mental health promotion NFTs”.

By doing this, you would be able to see the results of NFTs in the mental health topic.

What is good about this is that you will be sent directly to their website so you will know more about their project and see if it is something that you would want to be part of.

NOTE: One thing you have to remember in NFTs is that you have to always — ALWAYS — do a background check on the NFT projects that you’re interested in. Check who the owners are, know more about the project as much as you can, before you purchase the NFTs to make sure you are not being scammed.

Creating an NFT wallet

Once you’ve done your research and made up your mind on what NFT you’re going to buy, the next step is to create your wallet (you can’t buy anything unless you have money, right?!).

When I say wallet, it means a digital wallet with digital tokens. Examples of these digital tokens are bitcoins, ethereum, and ether, just to name a few.

The most popular digital wallet now is Metamask, although if you do your research, there are a few other digital wallets available out there.

But for discussion purposes, let’s just take Metamask for example.

To create an NFT wallet, you can follow these steps:

1. Go Metamask.io and click on Download.

As you click on Download, it will take you to a page where it asks you to Install Metamask for Chrome. You just have to click on that so that the Chrome extension will be added to your browser.

2. Once the extension is added to your browser, you will be sent to a page where you can either import an existing wallet or create a new one.

If you are totally new to this, then you will need to choose to Create a New Wallet.

3. Just follow along with the flow in creating your wallet.

One thing you have to make sure of is to store your seed phrase in a very secure place that no one else can access.

Once that’s done, you should be good to go.

4. The next step then is to buy Ethereum or Ether.

To do that, you will need to have a debit or credit card ready. There are several ways to purchase Ether or Ethereum.

Just click on any of these options as it applies to you and follow the instructions.

Once you’ve added balance to your wallet, you are then ready to buy the NFT of your choice.

Buying Your First NFT

Now that you have the funds in your wallet, it’s time to go back to Opensea and buy the NFT that you’ve chosen to purchase.

Here are the steps on how you can buy NFTs in Opensea.

1. When you go into Opensea, you will be asked to Sign In and the way to sign in is using your wallet.

So simply click on Sign In and it will ask you to connect your wallet. When you choose Metamask, it will open your chrome browser extension and ask you to give permission to connect.

2. Once that’s done, you will then be redirected to your own dashboard.

Your dashboard will have nothing on it as you don’t have any activities yet. So what you’ll need to do is go back to Explore to find the NFTs on sale or you can go to the NFT of your choice directly.

3. Once you’ve found the NFT you like to purchase, simply click on BUY NOW or MAKE OFFER if you want to probably haggle with the price a little.

4. Once you click on Buy Now, you should be sent directly to the Checkout page, where you can pay for the NFT plus the transaction fee (gas fees).

5. After paying for the transaction, you will then get the smart contract for this NFT which will prove that you are the sole owner of this NFT.

So, that’s pretty much the process of Buying an NFT.

To learn how to sell NFTs, check out our next article. And if you want more in-depth information on buying and selling NFTs, check out our NFT 101 Course.

We are honored to support your NFT journey!

Lauren Turton and the Freedom with NFTs team

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