How to Buy an NFT in a Few Simple Steps
So, you’ve done your research, learned the risks, and now you’re ready to buy your very first NFT. Congratulations! Here’s a quick guide to get you started.
A basic overview
How exactly do you go about choosing the NFT to start your collection? There’s no single answer — it all depends on you. Just know that NFTs don’t just give you an opportunity to support an artist you like. Through an NFT, you can support all manner of charitable causes, or even help fund your preferred political candidate’s campaign.
Buying an NFT can be as simple as any other online transaction. OpenSea — the single largest NFT marketplace online — along with several other top NFT marketplaces like Nifty Gateway and Rarible — accept credit and debit cards as payment options.
If you’re really looking to dive into the NFT space, though, you’re going to need to take two specific steps to ensure you have the best experience possible.
Set up a crypto exchange account
As great as it is to see some of the biggest NFT marketplaces accept credit and cash payments, this isn’t the norm. Most NFTs still require users to pay for them via cryptocurrencies like Ethereum.
So how exactly do you acquire crypto? Well, you can easily buy crypto with traditional fiat currencies; think of this as a Web3 money changer. Simply set up an account on a crypto exchange site such as Binance, then set up a buy order for a cryptocurrency.
Grab your wallet and go
Your next step is to set up a crypto wallet. This won’t just come in handy for accessing your crypto, these wallets are also safe and convenient places to store your NFTs.
There are many different kinds of crypto wallets to choose from, including some hardware solutions for storing your digital assets offline. Most people start out with something like MetaMask — an online, non-custodial wallet solution. This means that only you have access to the contents of said wallet.
Your last step is to connect the crypto wallet to your marketplace of choice, and then off you go. Just remember: never spend more than you’re willing to lose.
Want to know everything about NFTs? See our comprehensive guide. Prefer having the key points explained in under 400 words? See the other articles in our NFTL;DR series: