NFT sales reached $25 billion in 2021 according to DappRadar, but many people are still wondering how to buy an NFT. The hype is indeed real; just look at the stunning piece from Beeple called ‘Ocean Front’ that sold for an astonishing $ 6 million.
Whether you’re a digital artist, trader, or just curious about the ‘hype,’ this guide will take you through the process of buying your first NFT. Before we get started with the guide, let’s admire some of the most popular, bizarre, and expensive NFTs to date. Buy Your First NFT – Quick Guide
If you’re looking to make money with NFTs you’ll first need to learn how to buy NFTs safely and securely.
In the following sections of this guide, we explain the process of buying NFTs in a more detailed way.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Buy Your First NFT
The first step in buying an NFT, or even trading NFTs for that matter, is setting up a cryptocurrency wallet. There are dozens of options to choose from, but the best place to start is with an Ethereum compatible wallet.
Ethereum is currently the dominant blockchain network in the NFT sphere, and it gives you access to the biggest marketplaces and, therefore, the most NFTs.
If you’re looking to buy NFTs in 2022, you’ll be pleased to learn that you can access the NFT markets via the best NFT apps or via the best NFT giveaways . This way you’ll have access to the top-trending NFTs including the best utility NFT projects, best Metaverse NFT projects , best NFT Land projects and the best NFT horse racing projects .
If you’re looking to buy your first NFTs you might also want to check out our guide on the best NFT lawyers for 2022. Buy Ethereum & Set Up A Crypto Wallet
To buy an NFT on the top marketplaces like Crypto.com and Binance, you’ll need to pay using ETH, the Ethereum networks cryptocurrency.
Most crypto wallets support ETH, but the most user-friendly and easy to set up is the MetaMask wallet. With that in mind, by following the three-step guide presented below, you’ll be able to buy ETH and set up your new MetaMask wallet – all from the comfort of your own home. How to Buy Ethereum with eToro
If you don’t own any ETH, you’ll have to purchase some from a reputable broker or cryptocurrency exchange. There are numerous brokers and exchanges to choose from, although we recommend using eToro, as the platform is FCA-regulated and allows ETH investments from only $10 (£7.37).
Presented below are the three quick steps you need to take to buy ETH with eToro:
Step 1 – Open an eToro Account & Verify
Click ‘ Join Now ’ on eToro’s homepage, provide your email address, and choose a username and a password. Following this, click ‘Complete Profile’ on your dashboard and complete the necessary KYC checks. You’ll then have to upload proof of ID (passport or driver’s license) and proof of address (bank statement or utility bill).
Step 2 – Make a Deposit
eToro will email you once your account is verified, at which point you can proceed to make a deposit. The minimum deposit threshold is only $10 (£7.37) with eToro, with the following payment methods supported: Credit/Debit Card
Bank Transfer
PayPal Skrill Neteller Klarna Step 3 – Buy ETH Type ‘ETH’ into the search bar and click ‘Trade’. In the order box that appears, enter your desired investment amount (minimum $10) and click ‘Open Trade’. Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. How to Download the MetaMask Wallet Step 1 – Download Visit the MetaMask site and install the wallet on your browser. Step 2 – Set up a wallet Press the create a wallet button and follow the instructions to get your account set up and ready to go. Step 3 – Obtain ETH address Now you’ll need to find your ETH address by opting to deposit Ether and clicking ‘View Account’. Your public wallet address will then show up as a long string of alphanumeric characters. How to Send ETH to MetaMask Step 1 – Download eToro Money and Transfer ETH There is now a two-step process to send your ETH holdings to your MetaMask wallet. Firstly, you’ll need to download eToro Money, eToro’s crypto wallet app. Once downloaded, log into the app using your eToro credentials.Now head back […]
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