How to Buy an NFT on OpenSea
OpenSea is one of the most popular marketplaces for NFTs (non-fungible tokens). These tokens provide tremendous advantages, such as first-rate transferability and authenticity. But to reap all these benefits, you’ll first need to buy your NFTs.
In this article, we’ll provide a detailed guide on how to buy NFTs on OpenSea. Even though the blockchain technology behind this process may seem complicated, purchasing your tokens is relatively straightforward.
How to Buy an NFT on OpenSea
You can only buy NFT on OpenSea if you own a cryptocurrency wallet. Let’s see how you can set it up:
- Download your wallet app. Coinbase Wallet is one of the most popular options.
- Set up your account. The personal information you’ll need to provide depends on your platform. Some apps require a lot of details, whereas others only ask for your email address.
- Write down the private key presented as a 12-word phrase. Store it safely since you’ll lose access to your crypto if you lose it.
- Transfer cryptocurrency to the wallet. You should be able to buy crypto with traditional currencies, such as euros or US dollars. However, some wallets require you to transfer the funds from elsewhere.
Now you need to purchase ETH (Ethereum). This cryptocurrency will enable you to buy NFTs on OpenSea. This is what you’ll need to do:
- Head to Coinbase.com and log in with your credentials.
- Click the “Buy/Sell” button and choose “Ethereum.”
- Press “Preview Buy” to confirm the order and select the “Buy Now” option to finalize your purchase.
- Your ETH should be transferred in a few days. When that happens, go to your wallet account and copy the wallet address.
- Return to Coinbase and pick “Portfolio.”
- Select “Ethereum,” press “Send,” and paste the wallet address into the appropriate field. Double-check your address to ensure you’re sending ETH to the right destination.
- Click the “Continue” button, and your ETH should show up in your wallet after a couple of minutes.
Once you’ve created your crypto wallet and bought ETH, you can now buy NFTs on OpenSea. Here’s what you’ll need to do:
- Launch your browser and navigate to the OpenSea homepage.
- Go to the upper-right corner of your screen and click the wallet symbol. The platform should now prompt you to link your wallet. After connecting your wallet, your account will be ready to go.
- The app should now take you to your profile page, offering insight into any tokens you’ve created, collected, or favored for potential purchases. If you wish to change your account from “Unnamed,” head to the settings symbol in the right section of your picture to customize your profile. Pass the security prompt and sign an agreement to continue. Choose your username, add some information, and include your email address.
- Explore OpenSea to find the NFTs you want to purchase.
- Review any collected information about your NFTs. Collectible and rarer NFTs may have some valuable properties. Make sure to go through their pricing history to determine if you should use them for trading.
- Press “Buy Now” once you’ve found the ideal NFT. You may need to review several details about the purchase before finalizing the transaction. It helps ensure you’re not getting scammed by buying similar and not authentic versions of your NFT.
- If the transaction looks good, proceed to the checkout and review the cost of the purchase. Agree to the platform’s terms and hit “Checkout” to complete the transfer.
- This should bring you to your wallet and lay down the final cost, including any applicable fees on the blockchain. Click “Confirm,” and you should be good to go. To check out the NFT in the wallet, go back to your profile and choose “In Wallet” in the left section of the screen. The platform may take some time to process your requests, but it should show your NFTs after a few seconds.
How to Buy an NFT on OpenSea Using MetaMask
Many OpenSea users rely on MetaMask to buy their NFT. It’s another crypto wallet that lets you purchase your tokens quickly.
Installing MetaMask on your browser is the first step in buying your NFTs:
- Head to this website and press the profile symbol in the upper-right section of your screen.
- Choose “My Profile” and press the “Get MetaMask” button. Download the necessary extension for your browser.
- Click “Install MetaMask.” Wait for the installation to complete and look for the “Welcome to MetaMask” page. Press the “Get Started” button.
- Pick “Create Wallet” and set up your password. Write down or take a picture of your password. It serves as backup access to the account, so make sure not to lose it.
- Press “Next” and choose your secret phrase.
- Tap the “Confirm” button after arranging the phrase correctly. This should bring you to the “Congratulations” window.
- Click the “All Done” button and hit “X” if MetaMask presents a window asking to swap your tokens.
- Select “Next” to link your MetaMask Wallet with the appropriate OpenSea account.
The next step is to purchase ETH:
- Open your browser and press the MetaMask symbol in the upper-right part of your display.
- Choose “Directly Deposit Ether” if you have ETH in your Coinbase Wallet or other wallets. Otherwise, select “Buy.”
- Hit the “Continue to Wyre” button and specify the amount of ETH you wish to buy. Keep in mind you’ll need to pay a transaction and network fee with each purchase. Therefore, try to buy a large number of ETHs to avoid extra fees.
- Pick your preferred payment method and press the “Next” button.
- Submit your payment information and phone number.
- Choose “Submit” and enter your payment authentication code. It should be sent to your phone.
- Authorize your purchase by typing in the appropriate six-digit code for the pending Wyre transfer in your account.
- Your MetaMask wallet balance should be updated within a couple of minutes.
You’re now ready to purchase some NFTs. Take the following steps:
- Open your browser and go to the OpenSea marketplace.
- Explore the platform and find the desired NFT.
- Press the “Buy Now” button.
- Agree to the terms of the marketplace and choose “Checkout.” The MetaMask extension should now drop down, allowing you to see your purchase price. You should also see a gas fee that depends on network activity that can sometimes reach well over $100.
Bear in mind that some tokens are auctioned, meaning you’ll need to bid for them. Even if you can use the “Buy Now” option, you can also offer a lower price. Here’s how to do so:
- Go to OpenSea and find an NFT.
- Press the “Offers” button to check if there are any offers for your NFT.
- Click “Make Offer” to place your bid in wrapped ETH (WETH). This form of ETH is tradeable, but be careful when choosing the amount you wish to bid. The amount should be displayed in the right section as US dollars.
- Select “Convert ETH” and confirm your amount. Each conversion is subject to transaction fees. Hence, you might want to convert larger amounts if you wish to bid on several NFTs.
- Press the “Wrap” button.
- Your MetaMask wallet should drop down and ask you to verify the amount. It should also present the gas fee, which is lower than when buying NFTs ($5-$10).
- The updated WETH and ETH balance should be presented in the MetaMask extension. Press confirm and hit the “Make Offer” button again.
- Specify your amount and select “Make Offer.”
- Pick “Confirm” to complete your bid.
- Click the “Sign” button when the wallet drops down. This finalizes your placement, and your bid should now appear in your “Offers” section.
Acquire Your NFTs and Get Your Journey Underway
Knowing how to buy and mint NFTs on OpenSea enables you to grow your cryptocurrency portfolio. Over time, you’ll have a sizeable amount in your wallet, allowing you to trade in all sorts of digital artworks and collectibles. Decide which method works best for you and acquire as many tokens as necessary.
How many NFTs do you own on OpenSea? Do you prefer buying or minting them? Let us know in the comments section below.