You’re ready to buy your first NFT! You can either purchase aftermarket on a platform like Opensea or mint if you get in early on the project. Minting will be discussed in part two.
To buy off of Opensea, connect your wallet. Make sure the url is Opensea.io before connecting.
If you are using your mobile device to purchase go into the Meta Mask or Coinbase Wallet app -> Then go into the Browser section and search opensea.io
Make sure the opensea collection is real, there are multiple fakes out there. The best way to check is to join the projects discord and go to #officiallinks server, you can also double check on the website and social media pages. Copy and paste the link into your browser (again always make sure the url starts with opensea.io/…).
Floor Price: Lowest price listed in the collection on the platform, so basically the base price.
Gas Fee: There will be a gas fee on top of your purchase so if the price is 0.05ETH make sure to have more in your wallet. (Min 0.08eth)
If you don’t have enough ETH in your wallet a ridiculous gas price will show up (ex: $5000), so make sure to over fund rather than underfund your wallet beforehand.
The higher the rarity the more value the NFT in the collection has, you can check rarities on rarity sniffer. If you land a legendary NFT those sell for a lot! For example the floor price can be 0.5ETH and a legendary sells for 50ETH.
When you make money, someone is loosing money; you need to learn how to trade without emotions (no fomo trades) and study the market trends. (Check back for part 2)