OpenSea is one of the most popular marketplaces for NFTs (non-fungible tokens). These tokens offer tremendous benefits, such as top-notch transferability and authenticity. But to enjoy all these benefits, you will first need to purchase your NFTs.
In this article, we will 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 configure it:
- Download your wallet app. Coinbase Wallet is one of the most popular options.
- Configure your account. The personal information you will need to provide depends on your platform. Some apps require a lot of details, while others only ask for your email address.
- Write down the private key presented as a 12-word phrase. Keep it safe because you will lose access to your crypto if you lose it.
- Transfer the cryptocurrency to the wallet. You should be able to buy cryptocurrencies with traditional currencies, such as Euros or US Dollars. However, some wallets require you to transfer the funds from elsewhere.
Now you need to buy ETH (Ethereum). This cryptocurrency will allow you to buy NFTs on OpenSea. Here is what you will need to do:
- Head to Coinbase.com and log in with your credentials.
- Click on the “Buy/Sell” button and choose “Ethereum”.
- Press "Preview Buy" to confirm the order and select the "Buy Now" option to complete your purchase.
- Your ETH should be transferred in a few days. When this happens, go to your wallet account and copy the wallet address.
- Go back to Coinbase and choose "Wallet".
- Select “Ethereum”, press “Send” and paste the wallet address in the appropriate field. Check your address to make sure you're sending ETH to the correct destination.
- Click the “Continue” button, and your ETH should appear in your wallet after a few minutes.
Once you have created your crypto wallet and bought ETH, you can now buy NFTs on OpenSea. Here is what you will need to do:
- Launch your browser and navigate to the OpenSea homepage.
- Go to the top right corner of your screen and click on 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 an overview of all the tokens you've created, collected, or preferred for potential purchases. If you want to change your account from "No Name", head to the settings symbol in the right section of your image to customize your profile. Skip 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 buy.
- Review all the information collected on your NFTs. Collectible and rarer NFTs can have interesting properties. Be sure to browse their price history to determine if you should use them for trading.
- Hit "Buy Now" once you've found the perfect NFT. You may need to review several details regarding the purchase before finalizing the transaction. This helps ensure that you don't get scammed into buying similar, non-genuine versions of your NFT.
- If the transaction looks good, proceed to checkout and check the cost of the purchase. Accept the platform terms and click "Order" to complete the transfer.
- This should take you to your wallet and establish the final cost, including any applicable blockchain fees. Click "Confirm" and you should be good to go. To check 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 a while to process your requests, but it should display 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. This is another crypto wallet that allows you to buy your tokens quickly.
Installing MetaMask on your browser is the first step to purchasing your NFTs:
- Head to this site and tap the profile symbol at the top right of your screen.
- Choose "My Profile" and press the "Get MetaMask" button. Download the necessary extension for your browser.
- Click on “Install MetaMask”. Wait for the installation to complete and look for the "Welcome to MetaMask" page. Press the “Start” button.
- Choose "Create Wallet" and set up your password. Write down or take a picture of your password. It serves as a backup access to the account, so make sure you don't lose it.
- Press "Next" and choose your passphrase.
- Press the "Confirm" button after you have correctly arranged the sentence. This should bring you to the "Congratulations" window.
- Click the "All Done" button and press "X" if MetaMask presents a window asking to redeem your tokens.
- Select "Next" to link your MetaMask wallet to the appropriate OpenSea account.
The next step is to buy ETH:
- Open your browser and tap on the MetaMask symbol in the upper right part of your screen.
- Choose “Ether Direct Deposit” if you have ETH in your Coinbase wallet or other wallets. Otherwise, select “Buy”.
- Press the “Continue to Wyre” button and specify the amount of ETH you want to buy. Keep in mind that you will have to pay transaction and network fees with each purchase. Therefore, try to buy a large amount of ETH to avoid additional fees.
- Choose 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 entering the appropriate six-digit code for the pending Wyre transfer in your account.
- Your MetaMask wallet balance should be updated within minutes.
You are now ready to buy NFTs. Follow the next steps:
- Open your browser and go to the OpenSea market.
- Explore the platform and find the desired NFT.
- Press the "Buy Now" button.
- Accept the terms of the market and choose "Order". The MetaMask extension should now unfold, allowing you to see your purchase price. You should also see gas charges that depend on network activity and can sometimes be well over $100.
Keep in mind that some tokens are auctioned, which means you will have to bid for them. Although you can use the "Buy Now" option, you can also offer a lower price. Here's how:
- Go to OpenSea and find an NFT.
- Tap the “Offers” button to check if there are any offers for your NFT.
- Click “Make Bid” to place your bid in Wrapped ETH (WETH). This form of ETH is tradable, but be careful when deciding how much you want to bid. The amount should be displayed in the right section in US dollars.
- Select "Convert ETH" and confirm your amount. Each conversion is subject to transaction fees. Therefore, you may want to convert larger amounts if you want to bid on multiple NFTs.
- Press the “Wrap” button.
- Your MetaMask wallet should drop down and ask you to verify the amount. It should also feature the gas fee, which is lower than buying NFT ($5-$10).
- The updated WETH and ETH balance should be presented in the MetaMask extension. Tap confirm and tap the “Make Offer” button again.
- Specify your amount and select "Make an offer".
- Select "Confirm" to complete your bid.
- Click the "Sign" button when the wallet drops. This finalizes your placement and your bid should now appear in your "Offers" section.
Acquire your NFTs and start your journey
Knowing how to buy and mint NFTs on OpenSea allows you to grow your cryptocurrency portfolio. Over time, you will have a large sum in your wallet, allowing you to trade all kinds of digital artwork and collectibles. Decide which method works best for you and get as many tokens as you need.
How many NFTs do you own on OpenSea? Would you rather buy them or hit them? Let us know in the comments section below.