{"id":3527,"date":"2022-02-07T11:57:57","date_gmt":"2022-02-07T11:57:57","guid":{"rendered":"https:\/\/michaelleander.me\/?p=3527"},"modified":"2022-02-07T11:57:58","modified_gmt":"2022-02-07T11:57:58","slug":"how-to-start-collecting-nfts","status":"publish","type":"post","link":"https:\/\/michaelleander.me\/how-to-start-collecting-nfts\/","title":{"rendered":"Want To Start Collecting NFTs? Here’s The Right Way To Do It"},"content":{"rendered":"\n
NFTs have gained massive popularity over the last couple of years. <\/p>\n\n\n\n
Enough people are talking about it, and if you are part of those that have shown interest, you will be looking at ways to potentially start your own collection. <\/p>\n\n\n\n
Here is what you have to know about doing it the right way.<\/p>\n\n\n\n
When you decide that you want to start collecting NFTs, the first thing you need to do is to educate yourself on everything that is involved with NFTs. <\/p>\n\n\n\n
Understanding NFTs begins with understanding blockchains as well as certain cryptocurrencies<\/a> that act as their primary means of transactions. <\/p>\n\n\n\n The blockchain provides the databanks in which NFTs are stored as well as certain cryptocurrencies that are mined and exchanged, which in certain cases, are the only means that you can purchase NFTs.<\/p>\n\n\n\n NFTs are non-fungible tokens. Fungible means something that can be replicated or replaced, so an NFT or non-fungible token refers to assets that are uniquely created and cannot be easily duplicated. It takes certain pieces of art or digital assets and mints them. <\/p>\n\n\n\n This means that those art assets are given a signature<\/a> when they are developed digitally. <\/p>\n\n\n\n In a similar fashion to how art is minted and verified, this is done digitally with the piece itself, allowing people to see its certification, increasing its value and worth. <\/p>\n\n\n\n This translates to what is known as NFTs in today’s current market, as pieces of work that hold value much in the way that art does. <\/p>\n\n\n\n The reason many people are putting money into NFTs is that it is just as much of an investment as it is an aesthetic piece of work. <\/p>\n\n\n\n However, being created and developed recently after a massive interest in cryptocurrencies, NFTs is another investment that many people believe will bring huge earning and financial potential.\u00a0<\/p>\n\n\n\n In order to purchase an NFT, you\u2019ll need to create a wallet. You cannot just simply use a credit card or cash to buy NFTs. <\/p>\n\n\n\n You need to choose a platform that provides you with cryptocurrencies, ideally selecting a platform that provides the currencies you will need to purchase NFTs. <\/p>\n\n\n\n Once you\u2019ve selected your platform, you will create a wallet much like you create an account for any platform. <\/p>\n\n\n\n However, the data here is much more important and it is crucial to keep passwords and security phrases safe in multiple secure locations to ensure that you do not lose access to your wallet which you would expect to hold a significant amount of cryptocurrency. <\/p>\n\n\n\n Once set up, you are free to purchase NFTs through your debit card and send the currency to your wallet. <\/p>\n\n\n\n This sounds like extra steps, but this translates to the security of both cryptocurrency and NFTs and directly contributes to the value of NFTs as investment opportunities.<\/p>\n\n\n\n When you want to buy an NFT, you typically need to link your wallet to the marketplace platform. <\/p>\n\n\n\n Some wallets also double as markets where you can directly purchase NFTs. <\/p>\n\n\n\n Every market provides different benefits, from the securities involved, as well as the NFTs offered. <\/p>\n\n\n\n Consider the different features and what you feel you must prioritize in your platform. <\/p>\n\n\n\nWhat Are NFTs?<\/h2>\n\n\n\n
Creating A Wallet<\/h2>\n\n\n\n
Buying NFTs<\/h2>\n\n\n\n