BitcoinEducation
An NFT Manual
Hello, Let us talk about 'NFT.'
In this post, we will read about NFTs, where to find them, and how to buy them. Furthermore, what are they really?
Indeed we have all read this sentence since this is the first thing that comes up when we Google NFT:
"A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio."
Well, it is not wrong. It is a non-fungible token that can be traded.
They are mainly formed in 2D and 3D art forms.
You can profit from hundreds to thousands of dollars by buying and selling NFTs.
However, you need to be careful because there are too many scams out there. Many people get hacked, phished, or follow bad projects and lose their money.
Before answering the most FAQs, have in mind that NFTs can be built on many blockchains, traded on many platforms, and bought with different types of cryptocurrencies.
However, we will focus on the main, primarily used methods in this post.
Where should we find NFT projects?
Twitter, Instagram, and public/private chat rooms provide this information.
Nevertheless, Twitter is where it all happens. All NFT projects advertise on Twitter, and we can see by the number of their followers, likes, and comments, how genuine their community is and if it is a worthy project or not.
Where can we get access to mint/buy?
Once we find our desired project, we should find them on discord and join their server.
Different projects have different methods to White-List us to get us early access to mint/buy. Some require invites, some require being active and being helpful to their community, and some have their own unique rules.
Once we get past those requirements, we will be White-Listed to mint earlier than other people.
Where does it all happen?
Mostly on Opensea. When we buy or mint an NFT, we need to list it to trade it or sell it again.
That is when we need to pay Opensea for making a listing. Then we can list our NFTs on that listing and either take offers or set a fixed price for them.
What wallet do we need?
MetaMask is the wallet that is being mainly used in order to buy or mint NFTs. It is a safe wallet, and we can easily create one for free without identification.
What browser should we use?
Yes, Safari for Mac users and Chrome/Edge for Windows users is the preference we are familiar with.
However, when talking about NFTs and MetaMask and much money, we need to switch to something safer and more compatible.
Brave Browser is the one for this use. It also provides its own wallet, but we can always connect our MetaMask.
What is minting?
Most simply:
When we decide to buy an NFT, we have to produce it, validate it into existence, create a new block for it, and set its information.
Do not worry, it all happens automatically, we only need to pay the Gas fees.
Important tips:
Turn your DMs off on Discord.
Do NOT connect your wallets to unknown websites.
Use Brave Browser.
Have you ever traded NFTs? What do you think the pros and cons are?
Let us know your ideas.
Good luck.
In this post, we will read about NFTs, where to find them, and how to buy them. Furthermore, what are they really?
Indeed we have all read this sentence since this is the first thing that comes up when we Google NFT:
"A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio."
Well, it is not wrong. It is a non-fungible token that can be traded.
They are mainly formed in 2D and 3D art forms.
You can profit from hundreds to thousands of dollars by buying and selling NFTs.
However, you need to be careful because there are too many scams out there. Many people get hacked, phished, or follow bad projects and lose their money.
Before answering the most FAQs, have in mind that NFTs can be built on many blockchains, traded on many platforms, and bought with different types of cryptocurrencies.
However, we will focus on the main, primarily used methods in this post.
Where should we find NFT projects?
Twitter, Instagram, and public/private chat rooms provide this information.
Nevertheless, Twitter is where it all happens. All NFT projects advertise on Twitter, and we can see by the number of their followers, likes, and comments, how genuine their community is and if it is a worthy project or not.
Where can we get access to mint/buy?
Once we find our desired project, we should find them on discord and join their server.
Different projects have different methods to White-List us to get us early access to mint/buy. Some require invites, some require being active and being helpful to their community, and some have their own unique rules.
Once we get past those requirements, we will be White-Listed to mint earlier than other people.
Where does it all happen?
Mostly on Opensea. When we buy or mint an NFT, we need to list it to trade it or sell it again.
That is when we need to pay Opensea for making a listing. Then we can list our NFTs on that listing and either take offers or set a fixed price for them.
What wallet do we need?
MetaMask is the wallet that is being mainly used in order to buy or mint NFTs. It is a safe wallet, and we can easily create one for free without identification.
What browser should we use?
Yes, Safari for Mac users and Chrome/Edge for Windows users is the preference we are familiar with.
However, when talking about NFTs and MetaMask and much money, we need to switch to something safer and more compatible.
Brave Browser is the one for this use. It also provides its own wallet, but we can always connect our MetaMask.
What is minting?
Most simply:
When we decide to buy an NFT, we have to produce it, validate it into existence, create a new block for it, and set its information.
Do not worry, it all happens automatically, we only need to pay the Gas fees.
Important tips:
Turn your DMs off on Discord.
Do NOT connect your wallets to unknown websites.
Use Brave Browser.
Have you ever traded NFTs? What do you think the pros and cons are?
Let us know your ideas.
Good luck.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.