NFT Purchasing Guide
The below guide is a step by step walkthrough of how to Purchase NFTs. Please note, for the purchase of the BOAZ STUDIOS luggage items, you will not be required to purchase any crypto currencies. You will only need an Exchange account and wallet to receive the BOAZSTUDIOS NFT.
Buy Ethereum
You need Ethereum (ETH) to enter the world of NFTs because it’s the native currency of the eponymous blockchain network, and the majority of NFTs are built on Ethereum.
To get Ethereum, you’ll need to head to a cryptocurrency exchange, such as Coinbase or Binance.
Caution: Not all NFTs are can be purchased via ETH. Please read the details of the NFT you are looking to purchase for all accepted crypto currencies.
Get a Crypto Wallet
There are plenty of wallets that can be used for buying items (NFTs), sending and reciving crypto currencies such as Meta Mask and Coin Base. To create a wallet you can simply download the app to your IOS or Android device.
The wallet will connect to your crypto exchange ( Coinbase or Binance) account.
As part of the set-up process, your wallet will give you a security recovery phrase. You should write this phrase down and store in a safe place. As this will allow you to access your Wallet incase you forget your credentials.
Caution: Never Share your security phrase with anyone or any site. There are phasing scams that will try to get your phrase to access your wallet.
Transfer ETH from your Exchange to your wallet ( Not Required for Free Transfer of NFT)
In order to purchase NFTs you will have to have ETH in your wallet equal to the amount or greater than the value of the NFT. You can initiate the transfer directly from your wallet.
Some wallets allow you to purchase ETH directly.
Sync Your Wallet to OpenSea
NFTs are traded on NFT marketplaces, and OpenSea is by far the most popular when it comes to Ethereum-based NFTs.
Signing up for OpenSea takes a few clicks. At the top-right corner of the OpenSea website, you’ll see a wallet icon. Click on it, and it will show you a long list of supported crypto wallets. Choose your wallet and follow the connection steps.
Buying a NFT on OpenSea
Now that you have your wallet connected, you can browse OpenSea or follow the link directly to an NFT page. Here you can purchase, place a bid or make an offer on an NFT.
If you are looking to buy a NFT at a fixed price, be prepared to pay a small gas fee. IT is always good to have a little more ETH in your wallet than the cost of the NFT. You can always transfer the remaining amount back to you crypto exchange and covert back to cash.
If you have follow-ed these steps throughout, congratulations; you are now prepared to be a proud owner of a NFT. NFTs can grown in value if purchased at the correct time, but remember this ins’t a guarantee. Please purchase NFTs responsibly and at your own discretion.