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NFT's can be many things including art, music, domains, gaming and Metaverse assets such as land and special characters. Here we will walk through how to purchase and how to be safe whilst doing so.

Step 1: Purchase Crypto Coins

You need to purchase some crypto, many NFT projects exist on the Ethereum blockchain others on Polygon or Solana. Whichever one you chose, you can purchase that coin via a tool like Coinbase or eToro. You will of course need to create an account with one of these services if you don't already have one. You would need to use your real world money* (£$€) to purchase Crypto Please note, this is not financial advice, simply guidance on how to procure an NFT, you can lose your money and crypto is very volatile. Be careful, don't spend what you cannot afford to lose.

Step 2: Get a Crypto Wallet

A crypto wallet allows you to interact with the blockchain, this is how you will process transactions, store your crypto and your NFT's will show up here also. I can't stress enough⚠️🚨 the importance of being secure, careful and weary about your crypto wallet. So I am going to share some security articles because experienced NFT collectors are getting robbed of millions so it is something to be extremely mindful of, treat it like your actual wallet.

Crypto Wallet Security Tips:

Don't store privacy keys or passwords anywhere online.

When you sign up for a wallet like Meta Mask for example you get a series of random words that you put enter when setting up a new device for example. This phrase is easy to screenshot and keep on an online drive but DO NOT. If someone gets access to this or your password they can empty your wallet.

Maintain privacy

Consider using "Cold Storage"

Be Suspicious of weirdos

Further security reading: This is important

Step 3: Browse a Marketplace

Create an account on a popular marketplace and have a look through various projects. Most popular platforms include Open Sea, Rarible and Foundation. You can buy an NFT because you like it or with the intention of flipping it for profit its up to you! It is valuable to take your time and find something that suits your purpose. It is important to fully understand what you want to spend and to stick to your budget to avoid risking too much capital.

Step 4: Prepare for gas fees

"Gas fees are payments that users have to make to compensate for the computation energy required to process transactions on the Ethereum blockchain. This is very much like the processing fees credit cards may charge for transferring money to various accounts or for paying bills." -

How much you pay is made up of:

  • NFT purchase price

  • Gas fees

  • Platform fee

Gas fees particularly on Ethereum can be high and sometimes cost more than the NFT piece itself. You can track gas fees and see when they drop to get the best price and pay slightly less. Consider buying NFT art on another blockchain such as polygon where fees are lower.

How to Buy:

* This is not financial advice, simply an explanation of how one might procure an NFT of their own, please do your own research your capital is at risk.

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