How To Buy & Sell NFTs for Profit! (EASY NFT Beginner Guide)

How To Buy & Sell NFTs

How To Buy & Sell NFTs for Profit! (EASY NFT Beginner Guide)

If you haven’t heard about NFTs yet, I’m going to start calling you great Star, because you probably are living under a rock. At least that’s what everyone else is probably thinking right now.

But the truth is, in 2022, there are so many newcomers coming into the NFT space, it feels like as soon as we hit January 1, we flipped a switch and all of a sudden, all these new investors were quite interested in what was going on with NFTs. This is a booming time in the NFTs space.

So this article is geared to people that are new to the NFTs space and those who may be already involved in it, but might not be as comfortable as you’d like to be today.

I’m going to give you guys a few tips and tricks on things you need to know about the entity space before you get in or when you’re an early investor.

Tips On Entity space

tip number one, because I can’t just flaunt all my own stuff as a genuine tip.

Tip number one, do research, And this sounds like it’s boring and time consuming and tedious, and to some degree it might be, and I kind of do all of the research for you and break it down into layman’s terms and ways that you can understand pretty easily. And don’t just read my article, also read other people article.

There are a lot of good content creators coming up in this space that can help give you different perspectives in what I offer and help you learn even more about NFTs. Don’t be afraid to act like a beginner. How To Buy & Sell NFTs

You can even go on Google and type what is an NFTs and read up information. Because maybe my content right here that breaks down everything about a beginner’s NFTs journey may not be obvious enough to you and you need some more information on how exactly it works. Don’t be afraid to go and do that.

From my experience, the first week that I hopped in the NFTs, I had extreme FOMO. I thought I was late to the game and I wanted to buy everything I can get my hands on just because I wanted to be involved and not miss that wait. Well, it turns out I was much earlier than everyone joining right now.

And the things that I bought initially early on may not have been the best purchase is because I jumped into the space too quickly. There are so many people talking about NFTs on Twitter and in different discourse, you can join immediately and easily.

So I would say go and have conversations, learn about what makes a project good and research those projects and watch how they perform after midnight.

For the first two weeks, pick your top three projects and see how your investment would have went. If you did invest in those, and if you find that you are pretty accurate with what you find to be good projects, then maybe it’s time to step in and make your first NFTs purchase. How To Buy & Sell NFTs

FTX US

FTX US has quite competitive trading fees. I mean, like actually tied for some of the best in the industry.

How To Buy & Sell NFTs for Profit
How To Buy & Sell NFTs for Profit

And they also have an NFT platform that has both Ethereum and Salona NFTs on it. That’s already a lot more than other exchanges can say.

Having access to NFTs on multiple blockchains all in one place is clutch. You know what’s even more clutch though? On FTX, you don’t have to pay any trading fees when you buy or sell your NFTs.

No trading fees. As a trader and a collector myself, I can tell you firsthand how much of your profits you can actually lose just on the fees alone, especially on Ethereum.

So removing fees from the equation makes it that much easier to flip entities for a profit. And who doesn’t like keeping that extra money in their pocket? I promise you, you’re not going to be disappointed. How To Buy & Sell NFTs

Tip number two (how to buy sell nft)

before you even get to that point, is go and check out Open c or another administrative platform, maybe like Coinbase.

Whenever that comes out or looks rare or rare, there’s a bunch of different platforms, but Open C is the number one platform at the moment. Spend some time just searching through the top projects.

You can see right here all the top projects by volume and different metrics.

Take a look at which ones are doing well, which ones are doing poorly, and why those might be doing what they are. How To Buy & Sell NFTs

What are the differences in art? What are the trends you’re seeing in art? What utilities do these NFTs provide? When you find a couple of interesting products, you can go on Twitter and search those products and see what people are saying about these things.

Are people excited about it? Is there negative comments? Is there positive comments? What is the overall aura of the project and how is it performing on the market subsequently? Don’t be afraid to just go and search around, look at things, take in information, be a sponge. How To Buy & Sell NFTs

The more you get involved, the more you’re going to learn. If you’re a little bit more advanced and want to see even more detailed metrics about projects, you can actually join my platform, which is NFT HUD.

We have all the data you’re going to see on things like Open C in a much more robust way.

Tip number 3 (how to buy and sell nft for profit)

join a Discord server:I said this earlier on, but I’m going to go into detail on why it’s so important. Now that you’ve checked out Open and you’ve spotted some dope projects, you’re going to want to join that project’s.

Discord, to really get a feel for the community is like and what the actual value is. Anyone can join a discord. So if you haven’t set up a Discord yet, make sure you go and do that in this space.

It’s critically important that you’re able to communicate with other people in those communities through Discord. Pop into the general chat, say hi. See how quickly it takes for people to respond to you. Do people interact with you? Do people want to talk to you?

Ask those people questions about the project or about things that you are interested in, or about the art, or about the game behind the project or anything you want to know and see what kind of responses you get. How To Buy & Sell NFTs

Generally speaking, over time you’ll be able to determine what a loyal fan base looks like versus what a dead or hyped-up fan base looks like. You should also go and follow those products on Twitter, see what their Twitter looks like

Truthfully, one of the things that I do is look at how Twitter markets the project. Some projects are better than others.

If they have great marketing for the project, that’s actually a great sign for you because you want that team to be able to market their product well. The more people that know about it, the more people that care about it, the higher the price of the floor might go, and ultimately that’s a better investment for you.

Using things like Twitter and Discord ultimately source information for you. That’s what this game is all about. And right now, the term for information in the NFTs space is referred to as Alpha.

Sweet, juicy alpha. The more information that you have about these great new projects early on, the better off you are and the easier it will be to get into those communities before everyone else wants to.

So there are some things called alpha groups, which basically are bona fide Discord servers where you can join a community.

Usually, it’s a paid community that has really good alpha, or in other words, really great information about finding good projects.

truthfully, joining one or two good alpha Discord servers is almost all you’ll need right now to get really involved in the space, learn about it, and get great opportunities.

These alpha servers also usually help you take a ton of the grind time away by offering you that information and those whitelist spots without having to grind for them.

How To Buy & Sell NFTs for Profit

Tip number 4 (how do i buy and sell nfts)

create your own wallet. Because guess what? It’s time to finally buy your first NFT. You have an understanding of how communities work. You’ve checked them out, you’ve identified great NFTs projects, and you followed a bunch of people on Twitter that know what they’re talking about. How To Buy & Sell NFTs

So now it’s time to take some action. What is going to be your first NFTs purchase? But before you can even do that, you need a wallet to buy them with.

There are a few different options like Coinbase Trust wallet, but I highly recommend you use Metamax because right now it’s the industry standard, and most major projects, if not 99% of projects are going to require you or want you to have a MetaMask account.

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Tip number five

which is to create an Open c account. Now, creating an open c account is actually a lot easier than it sounds.

Once you have your MetaMask setup, all you really need to do is connect it to Open and it will automatically populate your account for you in that MetaMask tutorial, I actually show you guys how to make the Open account as well.

Now, I will say even though Open C is the number one site and just past 1 million total users, which is so small compared to how big it can be, a lot of people don’t actually like Open because it does go down quite frequently. How To Buy & Sell NFTs

There are a lot of times when the site breaks and it’s just not the best overall experience.

CONCLUSION

So hoping that coin base NFT is better in the future. And once that does come out, hopefully in the near future, I’ll be making an article on how to set up that as well.

Another site you can check out is called Looks Rare. It just recently launched not too long ago. But Looks Rare is also pretty new and quite glitchy in my opinion.

  1. Is it legal to buy and sell NFT?

    In some countries it is illegal

  2. How do you resell an NFT?

    To sell NFTs, authorities need to go to their profiles on the NFT stages and select NFTs that they need to sell. In the wake of tapping on the saleable NFT, they should view as the “sell” or “rundown available to be purchased” button.

  3. Full-Form Of NFT?

    Non-Fungible Token

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