For Beginners: How to start in NFTs

So you have heard about NFTs here and there, but since you don’t know how to go about it, avoidance seems to be the way to go. Well, I’m here to tell you that it is actually pretty easy to get started.

You don’t need to know what a blockchain is. You don’t need to have a computer engineering background. You don’t need any of this. What you need is basic knowledge of how to surf the good old internet.

Think of NFTs as collectibles or stocks, but on the internet. What do we need to buy a collectible or stocks in real life? We need fiat money. The same goes with NFTs. But you will need internet money, ie cryptocurrency (crypto for short). Now just like we have different currencies in real life, such as USD, CAD, EUR, etc, depending on which country you want to go shopping in, we have different cryptocurrencies, depending on which blockchain the NFT is on. For example, if the NFT is on the Ethereum blockchain, you will need $ETH, if it’s on the Solana blockchain, you will need $SOL, etc … . You get the point.

Now, where do you put your fiat money in real life? In your bank account that you can access with a card or your wallet. The same goes for your crypto. You keep the crypto in your crypto wallet.

So how do you gain cryptocurrencies? You connect your bank account that contains fiat money to your crypto wallet and buy cryptocurrency using fiat money. Recently, there are services that enable people to buy NFTs directly with fiat money. So you may even be able to buy NFTs without converting your fiat money into cryptocurrencies.

I personally use the Coinbase wallet extension on chrome. I buy cryptocurrency on my Coinbase account (different than the wallet), send it to my Coinbase wallet, then spend it on NFTs.

Now that you have a wallet and some cryptocurrencies in it, how do we buy NFTs? In real life how do you spend your fiat money? you go to a supermarket or a store. You walk around and you select the things you want and then pay for them and come home. Done. Similarly, when it comes to NFTs, you also have to go to online marketplaces. The biggest one is OpenSea. You browse, select the NFT you want and then pay for it with your cryptocurrency which is stored in your wallet.

There is another way to buy NFTs. It is called “Minting”. Minting is similar to when you buy something directly from the manufacturer and before the item hits the market. It is the first time the NFTs in a project are available for buying. After the mint, you can head to OpenSea and buy.

To mint an NFT, you have to go to the project website, not a marketplace, and connect your wallet and mint. Usually, for minting, you have to be on a list called, the whitelist or allowlist. How to get on the list, is a question I cannot answer, because it is different for every NFT project. But, usually, before the project goes to mint, if you can get involved somehow with the project, either on Twitter or Discord, sometimes the core team will offer you a whitelist spot. Another way to get on that list is by raffles and competitions.

I learned about NFTs through doing. So make a Twitter and a discord account and start following NFT big shots. Spend a few minutes every day reading and listening to twitter spaces about NFTs. It takes a while, but you will get the hang of it!

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