If you decided to pick an NFT for yourself we recommend looking at our website to choose a collection and an NFT.
Where to start?
Let’s start by setting up your wallet. Any action with NFT marketplaces is not possible without a cryptocurrency wallet.
You can install the most popular Metamask.
To talk about the wallet in a nutshell, the following:
- Create a new wallet
- Save Seed Phrase in a safe place
- Please note that Seed Phrase will recover only the very first purse in the future. So be sure to write out private key from all the following wallets.
- Remember the password from the extension, if you forget it recovery is only possible by Seed Phrase
We recommend to use PC extension and to use computer while working with NFT, because it is more convenient and most of extensions and sites are more optimized for PC.
When the wallet is ready, it is worth to do replenish the deposit.
The most popular chains for NFT trading are Ethereum and Solana. We recommend starting with Ethereum.
Please note that the exchanges will require KYC (Know Your Customer) registration prior to purchase. All financial institutions, including cryptocurrency exchanges, are required to identify and verify the identity of each customer prior to committing financial transactions.
Once you have purchased Eth, use the withdrawal procedure from the exchange to your Metamask wallet. You can copy the withdrawal account directly under the wallet name in Metamask, it starts with 0x…
Check the wallet address for withdrawal carefully, first we recommend to withdraw some part, when it’s on your Metamask — withdraw the rest.
Always pay attention to the network when withdrawing funds. The same token can be in several chains. For example on Binance, Eth withdrawals are available in 5 chains.
Buying on any marketplace starts with connecting your wallet.
Check the GAS PRICE, for example at etherscan.io. The lower the GWEI — the lower the commission will be. What is Gas and Floor price we explained in our dictionary.
Do not connect your wallet to unknown sites and exchangers. Scammers can easily steal your funds.
You can choose NFT to buy on our site coNFT.app.
- Do not keep a large amount of deposit in your wallet at once, diversify the risks. Leave some funds in the exchange, or withdraw them to another wallet, from which you will not connect anywhere.
- DYOR before you buy NFT in unknown chains, marketplaces, and be sure to DYOR the collection before buying.
- Spend the amount you are willing to lose. There is always a risk. Cryptocurrencies and NFT assets are high risk, but that’s also why they sometimes give such profits.
- For diversification you may buy several different collections with low Floor Price, instead of 1 NFT with pricey Floor Price (if your goal is to diversify, but not to collect).
One more thing. We recommend to check NFTs on the Eth network first, and then move on to other networks, for example Solana.
Do carefully your first steps by reading the official documentation.
NFTs on the Aptos network gain some popularity.
To transfer money to Aptos network you need the bridge, because not all exchangers support this network. You can use liquidswap, but note that the bridge takes commission, and funds can take several hours.
Many collections on Eth have already gained reputation and audience, while newer chains are just introducing their technology, so DYOR before deciding to buy.
Support of aspiring collectors — one of our goals. We are happy to help. Tweet, telegram or email us