How to Buy NFTs Safely In 2022
Digital ownership of artworks, media, memes, GIFs, and other objects is projected to be the trendiest type of crypto investment in 2022. Currently, NFTs are successfully traded on the largest marketplaces. Continue reading the article to understand how to buy NFT securely.
Why to Buy NFTs
Crypto market statistics show that NFTs will undoubtedly become the leading type of investment over the next three years. These tokens, which mostly operate on the ETH blockchain, have a significant potential for further development.
Consequently, knowing how to purchase NFT helps select the right tokens for investment. It primarily concerns various sorts of collectibles, tokens, and artworks. These NFTs can be considered a worthy investment that can bring additional profit in case of reselling.
Options for Buying NFTs
Knowing how to invest in the global NFT market allows receiving plenty of advantages. One can avail of marketplaces and exclusive apps as popular options for purchasing artworks or domain names. Particularly, blockchains like Avalanche, Cardano, Uniswap, and Terra can be used for investing in NFTs. Blockchain scaling solutions can also be utilized for buying NFTs. They speed up ETH transactions and make them cheaper for users. Additionally, numerous NFTs can be used for investing in stocks. As of January 2022, an investor can pour digital money into Funko, Mattel, or Cloudflare.
How to Buy NFTs: Step-by-Step Instruction
The process of purchasing NFTs is not as difficult as it may seem. A user should create a crypto wallet, sign up with the desired NFT marketplace, and then select and buy an NFT. Let us take it point by point.
Non-fungible tokens are traditionally based on the Ethereum blockchain. Therefore, even if a consumer realizes how to invest in NFT, the person first needs to purchase some ETH. A cryptocurrency wallet is required for this purpose. The easiest way to open a crypto wallet is to use eToro, Binance, or Coinbase exchanges.
Get a Cryptocurrency Wallet
Buying an NFT of any type using ETH tokens is a real pleasure regarding future profits. First, it is necessary to get a crypto wallet. For instance, most marketplaces gladly accept users with the Metamask wallet because it faultlessly interacts with ETH. The wallet is compatible with Chrome, Brave, Edge, and Firefox browsers. A new user should do the following:
Now, the new crypto wallet can be used for trading NFTs on any desired marketplace. However, if you still don’t know how to successfully purchase an NFT, please take time to read experts’ recommendations on the Web.
Transfer Your Cryptocurrency
A new crypto wallet must be funded to buy NFTs. For this purpose, a consumer is required to purchase ETH using such exchanges as Coinbase or eToro. Anyone can buy coins using other cryptocurrencies, Visa or MasterCard credit cards, wire transfers, Skrill, Neteller, etc.
Register on NFT Marketplace
Upon learning how to buy various non-fungible tokens, you ought to register on a marketplace. Below, you will find a list of the most reliable NFT marketplaces. If you select OpenSea or Rarible, for example, you will be asked to sign in using your Metamask wallet. Overall, these marketplaces allow signing in via 13 wallets, but Metamask is the most popular option.
Buy Your NFT
When the registration process is over, buyers can choose an NFT category based on their preferences. When you clearly understand how to invest in NFT, it is recommended to surf the site carefully so as not to miss a juicy NFT. You can use filters to narrow your search. Therefore, you can search by Categories, Prices, Top NFT, Popular Collections, Fixed Price or Auction, etc.
Where to Purchase an NFT Safely
One needs to select a corresponding marketplace to purchase NFTs securely and, preferably, with a low “gas” fee. Presently, dozens of NFT marketplaces have been launched. However, more than 70% of them are fly-by-night platforms which must be avoided.
Licensed marketplaces are highly recommended among the most reliable options for trading all sorts of NFTs. If you are aware of how to buy NFT reasonably, please check the list of the ten most trustworthy marketplaces below:
The mentioned marketplaces specialize in certain NFT assets. These are collectibles, video games, artworks, domain names, memes, etc.
Buying NFTs in Apps
If a depositor knows how to invest in NFT, he/she can purchase tokens using exclusive crypto apps. In this article, we have already listed the top apps for trading NFTs. For example, Foundation, OpenSea, or SuperRare provide clients with the safest and quickest options for purchasing unique NFTs. Therefore, it is strongly recommended to use NFT apps for trading all sorts of digital assets.
What Can Be Sold as NFT?
Absolutely everything can be sold as an NFT. Generally, everyone can create an NFT and sell it. Thousands of digital assets are daily sold as NFTs on the above-mentioned marketplaces. So, when you understand how to invest in the trendiest NFT, it will be much easier to know what digital assets to buy first.
Contemporary authors usually generate their masterpieces quickly. So, marketplaces are full of digital stuff. Here, you can come across even the most unexpected digital assets. The knowledge of how to buy NFT that will go up in price helps pocket some good cash. The most popular categories of NFTs are:
Therefore, thousands of various NFTs are traded on the mentioned marketplaces daily. You simply need to select the desired category of digital assets, consider your budget, and scan the marketplace.
Are NFTs the Right Investment?
Digital items of any sort should be considered good options for crypto investments. NFTs have recently turned into the trendiest types of crypto assets. The value of some of them grows every day significantly.
Art objects, movies, photos, real estate, and more than 20 other items are regularly traded on the largest marketplaces. NFTs are worthwhile investments if a depositor has a clear vision of how to invest in NFT, select the most popular tokens, and buy them promptly. To that end, potential purchasers study current trends across the largest NFT markets daily.
Of course, digital ownership may seem quite a risky investment. People’s preferences change all the time. You never know which NFT is going to go up and which one will quickly fall in price and turn into a bad investment. In many cases, however, much depends on investors' luck and gut feeling. Overall, most experts agree that an NFT is a very profitable and promising investment type. $100 invested today can turn into 100 thousand in a year.
Benefits of Buying NFTs
Buying non-fungible tokens is a good investment and an opportunity to become an owner of something exclusive and valuable. Upon scanning hundreds of investors’ reviews and experts’ opinions, we have figured out the top benefits of purchasing NFTs. Please have a closer look at them:
There are even more advantages to purchasing NFTs. However, the mentioned ones are the most vital bullet points.
Now you know exactly how to invest in various types of NFTs on the biggest marketplaces. Anyone can buy NFTs in specialized apps designed for trading collectible tokens. To do it, you need to register a crypto wallet and choose a proper marketplace. Overall, NFTs are righteously considered a promising investment for increasing profits and getting recurring revenue.
Frequently Asked Questions
How to Buy Non-Fungible Tokens?
A consumer needs to buy Ethereum first. Then, it is necessary to create a crypto wallet, top it up with the cryptocurrency, sign up with the desired marketplace, and start buying preferred NFTs.
Are NFTs Good to Invest In?
NFTs are considered a good and advantageous type of investment. The price of many NFT categories, such as artworks, domain names, or collectibles, grows rapidly every day.
Where to Buy NFTs Safely?
To purchase NFTs securely, a potential buyer ought to sign up with a trustworthy marketplace. It is recommended to use Rarible, OpenSea, Sorare, or Foundation platforms for trading digital assets. When I am asked how exactly I buy an NFT, I say – only reliable apps.