How to Buy your First NFT | 29/11/22
So, you want to buy your first NFT? You’ve come to the right place. We’ll take you through the process of buying one of these digital assets, breaking it down into simple steps that are easy to understand if you’re new to the space. Soon you’ll be well on your way to becoming a full blown NFT collector!
When it comes to which type of NFT you’d like to buy, we’re sure you’ve seen lots of apes with some funky accessories. These are Bored Apes, and they’re art, or PFP (profile picture) NFTs. There are many other types of NFT, with different utilities, like music, videos, sports collectibles, gaming items, and more. Take some time to think about what type of NFT you’d like to purchase. Research, and then research some more.
Okay, that’s the boring bit over and done with! Let’s get into how you go about buying your first NFT.
Get a Crypto Wallet
You can’t buy an NFT without crypto and you can’t store crypto without a crypto wallet. To get started, follow these steps. The first thing you’ll need to do is download the MetaMask wallet software onto your chosen device by visiting the official website here. You will be presented with the following options:
Browser: Compatible with Google Chrome, Firefox, Brave or Edge website browser.
Android: Compatible with any smartphone that operates using Android’s operating system.
iOS: Compatible with any iPhone.
Once you’ve selected the appropriate option, click the “Install MetaMask for …” button.
Click the extension icon in the top right corner of your web browser and find the MetaMask option, once the software is downloaded. Click the “Get Started” button and you’ll be taken to the next page and presented with two options – click ‘create a wallet’!
You will then need to create a password. As with any password, don’t share this with anyone, and don’t create a digital copy of it, like taking a screenshot. You will then be given your secret recovery phrase (12 words in a particular order). Copy this down onto a sheet of paper, then you’ll be asked to enter this phrase at the next stage of the setting up process. That’s your crypto wallet all set up!
Buy some Crypto
Next, it comes to buying some cryptocurrency, because you can’t pay for your NFT with the coins in your purse! There are many cryptocurrencies like Solana or Tezos but the overwhelming majority of NFTs are created on the Ethereum blockchain, meaning you’ll need its cryptoasset, Ether, to make a purchase. Thankfully, Ether is one of the most popular cryptos and it can be easily bought. You can buy Ether on the MetaMask application, by clicking ‘Buy’ on the home screen. This will then take you to Wyre, Next, convert GBP or any other currency into ETH – however much you need for your NFT. Follow the next page to enter your credit/ debit card details and ETH will get credited to your wallet.
Choose a Marketplace
We suggest using OpenSea to buy your first NFT, the most popular marketplace of them all. However, if you’re looking for something more artistic, Foundation or SuperRare might be your best option. If you followed the steps listed above, here’s what to do next:
- Visit OpenSea, click the wallet icon, follow the prompts, and connect your MetaMask wallet.
- Once your wallet is connected, use the search function to find the NFT you want to buy or take a look through OpenSea’s expansive list of NFTs until something catches your eye.
- Use the “Make Offer” option to make an offer or the “Buy Now” option to buy the NFT at its listed price.
You are now the owner of an NFT. You will be able to see it in your MetaMask wallet, and the platform you bought it on. Congratulations!