BUYING YOUR FIRST NFT ON OPENSEA: A GUIDE
Without prior experience in crypto, attempting to buy an NFT may come across as a challenging task but with the right guide it can be made relatively simple. Going through the process myself, I made some errors along the way but fortunately for you, all of that can be avoided. This article seeks to provide you with the necessary information to walk you through that process.
Here’s a list of things you’ll need;
- An Ethereum wallet (preferably Trust wallet or Metamask)
- A functioning browser.
Yes, that’s all of it.
It is important that your wallet is funded sufficiently as buying an NFT is not a cheap endeavour. Have a budget if need be and factor in ethereum gas fees (transaction fees).
Navigating Opensea: The Marketplace
On Opensea, you’re met with a plethora of options to explore. If you do not already have an idea of what you want, you may end up a bit confused. There are various categories and filters available to make your search easier. You can filter by
1. Price — min to max
2. Status — buy now, on auction, has offers
3. Collections etc.
You can also choose to sort through the available options by
1. Recently listed
2. Recently created
3. Recently sold etc.
If you do already know what you want then putting the name of the collection or the specific NFT name in the search bar should get you results.
Status
After finding the NFT you’d like to purchase, the next step is the status of the NFT. It may be available to be bought immediately or it may be up for auction meaning that you would have to make an offer. If you’re not willing to go through the auction process then you should limit your search by filtering under status to “Buy now”.
If you would like to make an offer, click on the “make offer” option and a dialogue box would appear where you can specify the amount you’d like to purchase for and how long you’d like the offer to be available for after which you can “Make offer”. Another dialogue box would appear requesting you to sign the transaction in your wallet. Once that is done, the offer would be made and now you wait.
If you would like to “buy now” please follow the steps below.
Purchasing the NFT: A step by step guide
1. Go to opensea.i in your wallet browser (Trust wallet or Metamask)
2. Click explore and filter/sort by your preference
3. Go through the available items and pick an NFT
4. Click on “Buy Now”
5. Proceed to Checkout
6. Authorize the transaction by signing using your Ethereum wallet (A dialogue box would appear)
N.B. you will be charged gas fees for the transaction and it will not be a fixed price. It’s also important to ensure that your NFT is available to purchase in the coin that your wallet is funded with or you may have to convert from Ethereum to Wrapped Ethereum (WETH).
Once the transaction is completed you’ll be notified. You can find your NFT in your Ethereum wallet. Congratulations.
