So, even if you know all the non-fungible basics, knowing how to buy and sell NFTs is a different story. There are a number of factors that go into the entire process. But, once you get the hang of things, it’s pretty straightforward! Therefore, once you’ve figured out which NFT to buy (or sell!); it’s just applying the same steps over and over.
Therefore, to make the maximum amount of profit and avoid scams, we’re gonna teach you how to do it. And, most importantly, what you’re going to need to get started! So, keep reading to find out more on how to buy and sell NFTs and get into the business of the non-fungibles!
What You’ll Need:
– A crypto wallet
– Cryptocurrency fund (mostly ETH)
– An understanding of gas fees
– An NFT sniper bot
GUIDE: How to Buy and Sell NFTs
The basic steps to learning how to buy and sell NFTs are pretty simple. It all comes down to the NFT that you’ve picked to buy or sell. In other words, if you’re selling, most of the entire process is in creating and minting your NFT. Or, if you’re buying, you just have to have your heart set on a certain non-fungible AND have the funds! So, let’s get right into it:
How to Buy NFTs:
- Pick an NFT marketplace
- Choose the NFT you want to buy
- Make sure you have enough cryptocurrency in your wallet
- Click BUY NOW
- Click CHECKOUT and pay the required GAS FEES
- Finalize your purchase
Once your purchase is final, you can go ahead and find your NFT in your crypto wallet. After this, you can decide to either keep it for the flex or flip it for more money online. Build your way up to more expensive NFTs with greater value!
How to Sell NFTs:
- Pick an NFT marketplace
- Create and mint your NFT
OR import one of your NFTs from your wallet - Click SELL by choosing a FIXED PRICE or AUCTION
- Wait for the offers to come in!
Also, there is another option on how to buy and sell NFTs online which is NFT auctions. Now, this method differs slightly from the one above – depending on the type of auction. But, the main difference is just not having a fixed price. So, it’s all about having a bidding war just like any other auction in general.
Picking a Platform…
The last part on how to buy and sell NFTs is picking the best platform for maximum profit. All NFT platforms have their own set of additional fees that you – as a buyer or seller – might pay. So, if we’re strictly speaking about money, the best platform would be the one with the lowest fees.
It also has to support a currency and belong to a blockchain that you are comfortable with. Therefore, we’ve created a table with the top 5 platforms and their corresponding additional fees. This way you can cross-reference fees, blockchain, and cryptocurrencies and make your pick! Make an informed decision! Check it out below!
