People are buying NFT these days for two main reasons:

• Either they don’t want to miss out on the fun of owning an NFT OR
• They want to own, sell and/or trade NFTs and capitalize on the opportunity to make more money.

Regardless of the category you fall into, you now have two options:

• Buy an NFT (already minted by someone else)
• Mint/Create your own brand new NFT on the blockchain

In this article, we will talk about how you can buy your own NFT. While it is a simple process, things can get complicated very quickly. Especially when you are new to NFTs or crypto space in general. To solve this, I will go rather slowly to explain everything and assume that you don’t know anything about crypto or NFTs but just the buzz word caught your eye, and you have FOMO (Fear of missing out) which is why you are here.

The basics of buying an NFT

We will be using lots of terms in the topic, one of which is cryptocurrency. So, before we go any further let me tell you what this is. Cryptocurrency is digital currency that live on the blockchain. There are many cryptocurrencies out there like Bitcoin, Ether, Litecoin, etc.

An NFT is Non-Fungible Token. What this quite literally means is that this token is one of its kind and it cannot be changed, replaced or replicated. Because this token is “non-fungible” it is scarce and that is what essentially creates value of it. Just like gold – because there is only so much of gold on earth, it is valuable.

Which NFT to buy?

If you already know which NFT you want to buy, feel free to skip this section. However, if you don’t know which NFT to buy, this section is for you.

Which NFT you want to buy depends on what your answer is for the following questions:

• Are you looking to build a collection?
• Are you looking to trade tokens for a higher price?
• Are you looking for the top tokens of the world?
• Are you looking for something which is related to a cause?
• Or are you looking for something that grants you access to an asset or service?
  • Example: Uniswap position, concert ticket, music album, subscription, etc

If you are still confused, you can probably start with browsing the top tokens on OpenSea: Top NFTs | OpenSea

Let’s start the process

Assuming that you now have got your eyes on which NFT you want to buy, let’s get into the business of buying NFTs.

The first step to buying an NFT is to actually buy Ether. Ether is the cryptocurrency which you will use to pay for the NFT you purchase. Now, you would want to purchase Ether from an exchange / platform which allows you to transfer this ether to other wallets (seller) in future. If you don’t have a wallet already – feel free to create one on Coinbase or Crypto.com.

Once you have the ether you need, visit OpenSea to purchase the NFT.

Buying NFT on OpenSea

To be continued.