If you are reading this, you probably heard about NFTs – non-fundible tokens. If you haven’t, here’s a quick summary of what we are dealing with: An NFT is a unique token living on a blockchain that represents some sort of data. It could be image, video, code – pretty much anything. Because this token lives in a blockchain, it is easily trackable. This tracking allows anyone to see owner of the token and all past history of it’s owners. Perfect for verifying ownership of anything online.
Getting started with crypto
Most NFTs are being sold for crypto – a blockchain currency. So our first step should be to get some of that sweet sweet internet money. But how are you supposed to do that?
Firstly you will need a wallet. This is a place where all your tokens will live. Most popular wallet is MetaMask (Always make sure it’s an official metamask.io link). This is a browser extension that let’s you access your wallet and connect it to other websites. It let’s you have full control over your wallet – you will get your own personal private keys, so full control is in your hands. Like the saying goes “Not your keys – not your wallet”. Just store those keys as safe as possible. Never ever give them to anyone that’s asking. Those keys are for you and you only. They should only be used by you want to add MetaMask or other wallet to other browser.
Buying crypto with fiat
Fiat is just another saying for government money – Dollars, Euros, Yens etc. So how do you actually buy tokens with them? Well, there are many ways to do so. Probably the fastest way is using MetaMasks built in Buy button.
Other ways could be by using an exchange like Coinbase, Crypto.com, Gemini, Binance, or others (there are many options, so it would be a challenge to list them all). Just don’t forget to transfer those crypto to your MetaMask
Minting or Buying
NFTs can be minted or bought. Minting an NFT means buying straight out of contract – creating an NFT. It’s like buying a product straight out of manufacturer. Buying usually takes in a second-market like OpenSea or LooksRare. You are just buying already minted NFT from another person. Minting should be a first option in your head. It usually takes plaYou could be buying at the lowest price possible (if nobody wants to sell it for cheaper then they bought it), but usually people are inpatient and will sell at a loss couple of hours after the mint, so waiting could be a smarter option here.
Minted! What now?
Wohoo! Now you have full ownership of that NFT. You should be able to see it in your OpenSea account. Just keep in mind that it can take some time after mint for NFT to appear on OpenSea. Also, if the NFT does not appear on your main page (usually if the NFT collection is not that popular) it can be stored in “hidden” tab. So just check if it’s not there. (You might find some random NFTs airdropped to your wallet there. So if it’s something you don’t recognize – don’t touch it). Some NFTs are coded to just profit from your interactions with it. Leave it there and let it be – it won’t hurt your wallet if you do nothing with it.