NFTs are unique non-fungible tokens purchased on the blockchain network, and each one represents a one-of-a-kind thing, from art to music to trading cards. The tokens are a way for artists and creators alike to create something and own the rights throughout all sales, and continue to earn as it passes hands.
Buying an NFT can be a little confusing at first, but we’ll do our best to break it down into easy-to-follow steps so you can join the future and purchase your first NFT.
Step 1 – Purchase Ethereum (ETH) on Coinbase
Set up a Coinbase account if you don’t already have one, and thankfully, this is one of the more user-friendly platforms. Once you have your Coinbase account set up, you will want to purchase Ethereum. The amount depends on how much you want to spend on NFTs, but you want to be sure to buy a little more Ethereum as the gas fees (fees for transactions) can be a little high.
Step 2 – Transfer Your Purchased Ethereum (ETH) to Your MetaMask Wallet
You’ll need MetaMask installed on your computer. Using Google Chrome or Mozilla Firefox, create an account and ensure you write down your passphrase in a safe place, so you do not get locked out. Pin your Metamask wallet to your browser.
After you purchase your Ethereum and have all your accounts set up, you’re going to want to send your Ethereum balance to your MetaMask wallet by selecting View account and then selecting Send. Once you select to send, you will be prompted to select the crypto you want to send. You’ll select Ethereum, enter the amount you want to send, and select Continue and enter your MetaMask wallet address. Double-check to ensure the address that you received when you set up your account is correct and press Send.
Step 3 – Login to OpenSea with your MetaMask Wallet
Login to OpenSea and connect your MetaMask Wallet. To do this, you just have to select your account and log in directly through OpenSea, and all of your funds will be available. You’re now ready to purchase your first NFT.
If you’re looking for a unique one-of-a-kind experience, check out Codex. Codex is a collection of unique digital art pieces with the ability to alter its physical environment in Glitch, a high-tech escape room set in a futuristic fab.
Private sale: Is it safe to share my wallet address?
Every wallet has a public address and a private key. The public address is like is an address with a mailbox that has a slot for mail. The private key is a key that allows you to open the mailbox.
Public wallet addresses are safe to share because no one can access your funds without your private key. To receive an NFT in a private sale, you need to disclose the wallet address to the other party so they know where to address the item. Here is a quick guide on how to find your public address & QR code in Metamask.
However, since ledgers are public. If someone knows the contents of your wallet and your stash is worthwhile, they might come after your stash and you might be opening yourself to social engineering attacks.
The most important thing is though is to never share your private key with anyone. It is the key to the contents of your wallet.
Never share your private key with anyone.
NFTs are the future of ownership, and the NFT space is only expected to grow and expand, ranging from car notes to house deeds. NFTs are relatively beginning to boom, and you can get in on something extraordinary and revolutionary.