How To Buy Nft On Openseahow To Buy Nft On Opensea_611739d1e Jpg – Since we launched our course landing page (NFT Master in 7 Days) at Nas Academy, we’ve been getting a lot of questions about purchasing Curious Addy NFT (which gives you free access to a course that normally costs $499!) at a branch. market like OpenSea.
In this article, I will show you how to do it step by step. It will be the same process as if you wanted to buy any other aftermarket NFT on OpenSea after the mint sale.
How To Buy Nft On Openseahow To Buy Nft On Opensea_611739d1e Jpg
Below are the 5 steps you need to follow. I wrote a section for each step, so if you already know it, you can skip this step.
How To Buy Nft On Opensea
The first thing you need to do is set up a cryptocurrency wallet. A cryptocurrency wallet allows you to interact with blockchain programs such as OpenSea, which is a marketplace where you can buy NFTs from others. The wallet also allows you to send and receive NFT or cryptocurrencies.
To buy NFT, you will have to interact with blockchain programs and a cryptocurrency wallet allows you to interact with them and store your assets. In the world of Web3, you can own money and digital assets yourself. If you have cryptocurrencies on exchanges like Coinbase, you still don’t own them because they are owned and operated by Coinbase, just like a bank. With your own crypto wallet, you can store all purchased assets just like you can store and hold your money in a physical wallet.
In this article, I will show you how to set up Metamask as I believe it is the most universally compatible with most Web3 applications and works on both iOS and Android.
(Computer) Install Chrome or Firefox extensions. Once installed in Chrome, pin MetaMask by clicking on the puzzle icon at the top of the browser bar, then clicking the pin.
Nft Marketplace Opensea
As mentioned, with a wallet you can actually own things yourself, but that means you’re the only person who can be responsible for all of your stuff. No one, not even Metamask, can help you if you lose your seed recovery phrase. So please remember to save your seed recovery phrase in a very safe place where no one else can find it, but you won’t lose it either.
The recovery phrase is used to generate a private key that can sign transactions associated with a given cryptocurrency address when interacting with blockchain applications, proving that the transaction is authorized by you. If so, what happens when you share it with other people? This person has access to all your wallet holdings and can sign the transaction on your behalf.
I show it here to give you an idea of what the seed recovery phrase looks like, but again, please don’t share it with anyone.
This is why there are so many scammers in this space who try to steal your seed recovery phrase by directing you to fake websites and asking you to enter your seed recovery phrase or by impersonating someone else and contacting you to get your seed recovery password code. So make sure:
Explore The Vast Ocean Of Nfts With Opensea
If you are new to the field, I highly recommend reading How to Avoid NFT Scams to learn about common scams and protect yourself. Almost everyone we know in this space has been scammed – don’t let it be you!
After setting up the wallet, the next step is to get ETH. ETH is a cryptocurrency used in the Ethereum blockchain. Since most NFTs, including Curious Addys, are stored on the Ethereum blockchain, we will need ETH to purchase NFTs.
The easiest and cheapest way is to buy on exchanges such as Coinbase, Binance or Crypto.com. Most people reading this article should be able to use one of these exchanges, but if these options are not available in your country, you can find out which exchanges are available in your country here.) Here we will look at buying ETH on Coinbase, but the process should be very similar on most major exchanges.
If you plan to buy just one NFT, the best amount to buy is the price of the NFT you plan to buy + the estimated gas price, with a small margin of error (I’ll explain gas in a moment). Let’s look at one example from Curious Addys (by the way, the first educational NFT project that will teach you everything about cryptocurrencies – that’s right!). Go to the OpenSea Curious Addys page and find the Addy you like for sale and click it! Click the Buy Now filter on the left to view all the NFTs for sale in the collection.
Explainer Guide: How To Connect Your Metamask To Opensea To Buy And Mint Nfts
When you click on NFT, a page with detailed information about it will appear. As you can see here, the price of this Addy is 0.085 ETH ($335.07 at the time of writing), so this is part of how we calculate how much ETH you will need to buy.
Gas is what you have to pay to transact on the Ethereum blockchain. Think of it like gas for your car – if you want to go from New York to Dallas, you have to buy gas. It’s the same with the Ethereum blockchain – to make a transaction (like buying an NFT), you consume computing resources on the blockchain, and buyers like you will have to pay blockchain “miners” to use those computing resources. If you want to know more about gas, read the first part of my next article.
As with gasoline, gas prices in Ethereum fluctuate based on supply and demand. If many people try to use the Ethereum blockchain at the same time, the price of gas will be higher.
In general, buying NFT on OpenSea will cost between $50 and $150, depending on the load on the blockchain. (Yes, it’s quite high, but I’ll show you how to save on gas.)
Opensea Has An App, But You Can’t Buy Nfts On It
Click the Buy button, link your Metamask account as instructed and click Checkout. (Don’t worry, even if you click this button, you still won’t pay anything)
Once you do this, Metamask will pop up and show you the Gas Fee Estimate and Total Price as shown below (Make sure you DO NOT CLICK CONFIRM here yet because if you click CONFIRM you will commit the transaction and actually buy the NFT and the transaction will be non-refundable) .
So if you want to buy it now, that’s about what you’ll pay (OpenSea adds a ~20% margin of error when estimating gas limits, so the actual charge will be ~20% lower).
But – gasoline prices fluctuate rapidly even from minute to minute, so to answer the original question “how much ETH do I need to buy?” I strongly recommend sending at least NFT price + 0.025 ETH (currently ~$100) just in case. Don’t worry – if it doesn’t cost that much, you’ll keep the ETH you didn’t spend.
Nft Marketplace Opensea Launches New Listing Manager After Discount Bug
When you check the approximate price of gas, don’t forget to “Discard” your test trade on Metamask so that you can later reverse the transaction and buy with real money.
Ok, back to how to buy on Coinbase, now that we know how much to send ($335.7 (price) + ~$100 (gasoline fee)), let’s buy ETH on Coinbase!
Click the Buy/Sell button at the top, make sure you have selected Ethereum and select Custom. On the next screen, enter the amount you want to buy and click “Preview Purchase”. You can then see how much you’re buying for and then click “Buy”.
Great! Now you have some ETH to buy NFT :). Note: If you have a new Coinbase account, it may not allow you to withdraw ETH to purchase NFT for 7 days while confirming that the ACH transfer from your bank account has been fully settled.
How To Buy An Nft From Opensea. Since We Launched The Landing Page For…
You can get around this by buying with a credit or debit card on other exchanges like Crypto.com, but be aware that the fees for doing so can be significantly higher.
Once you have some ETH, we will send it to your wallet. For this you will need a wallet address.
A crypto wallet address is similar to an email address. You can give your e-mail address to anyone who can use it to identify you and send you an e-mail. With your wallet address, you can give others your wallet address and they can use it to send NFT or ETH. In this case, we need to identify the Metamask wallet address you just set up because we send ETH from your Coinbase account to your own Metamask wallet address.
Click the Metamask icon in the browser bar