In this guide, we’ll go over how to buy NFTs on OpenSea because it’s the largest and most popular NFT marketplace.
For many of us, it’s the place where our NFT collection journeys start.
Buying an NFT isn’t hard, but you should know a few technical things.
How To Buy NFTs in 2024 (4 Steps)
1. Create a Web3 Wallet
To get started, you’ll need an Ethereum-compatible crypto wallet, in other words, a web3 wallet, and fund it with enough ETH. You can use a crypto wallet to purchase, sell, store, and swap crypto assets.
- OpenSea works with all significant Ethereum web3 wallets. You can see which crypto wallets you can use on OpenSea here. However, Metamask is the most popular one, that’s why we’ll use it in our instructions.
- To download Metamask, visit metamask.io/download and choose your browser. Chrome, Firefox, Edge, and Brave are supported. Mobile extensions for iOS and Android are also available.
- After choosing the extension, click on “Get Started.”
- Click on “Create Wallet.”
- You’ll be prompted with a screen that shows a new seed phrase for your wallet. This seed phrase is a long string of words that Metamask automatically creates. You will require it in the future to recover your wallet. If you lose it, nobody can help you get your funds back. That’s why you should save it in a secure place.
- Next, create your password. This password will be the only thing you’ll require to log into your wallet in the future, provided that you connect from the same device. If you need to use your wallet on another device in the future, you’ll have to use the seed phrase we mentioned above. It’s worth emphasizing that you should never lose your seed phrase.
- After this step, you’ll be prompted to confirm your seed phrase by choosing the words that appear on the screen in the same order as they appear in your seed phrase.
- Your MetaMask download will be completed, and the MetaMask icon will be shown in the top right corner of your browser window.
2. Connect your MetaMask wallet to OpenSea
Once your wallet is up and running, head over to OpenSea.io.
- Click on the wallet icon in the upper right corner and choose MetaMask. You’ll be requested to sign for approval to connect your wallet to OpenSea.
- You can create a username, write a bio, and add your social channel links when your wallet is connected. But these steps aren’t required to buy NFTs. Connecting a wallet is enough for that.
3. Fund your Metamask wallet with Ethereum
- Creating an account on these exchanges all work in similar ways. You need to undergo a verification process by providing an ID or Passport.
- Once you’ve been verified, you can buy Ethereum. Depending on the exchange you choose, different payment options are possible. Usually, you’re able to pay with a credit card for the first time. Some exchanges also work with bank transfers.
- After this step, you should transfer Ethereum from the exchange to your MetaMask wallet. Again, the process is similar in every exchange. You need to copy your MetaMask address for receiving currencies and paste it into the appropriate “send” field found in the cryptocurrency exchange for Ethereum withdrawals. This section is usually found on your exchange balance. Click on the withdrawal button and paste your MetaMask wallet address and confirm.
- Based on the cryptocurrency exchange you choose, there might be an additional security step like Two-Factor Authentication (2FA), in which case you need to enter a verification code during the above process.
- Ethereum transfers are usually fast. But depending on the busyness of the network, it may take up to an hour in rare cases.
Once your wallet is funded with enough ETH, you can search for an NFT to buy on OpenSea.
3. Search an NFT on OpenSea
There’re millions of NFTs on OpenSea. It’s a good idea to know about the platform’s searching and filtering options.
- The Explore lists all active NFT categories. You can choose one category to see all NFTs within that category in one place.
- Under the stats tab, you can see the highest demand collections in the last 24 hours, seven days, 30 days, or all time.
- To explore more filtering options, go to https://opensea.io/assets. You’ll see the options listed on the left-hand side of the website.
You can view the results based on the status, price, blockchains, categories, and currencies you can use as payment methods.
4. Buy NFTs
Using search options allows you to find new NFTs based on various criteria. When you’ve found the NFT you want to buy, click on it to get to its own page.
- There are two purchasing choices on each NFT page: Buy Now and Make Offer. To acquire the NFT at the specified price, select “Buy Now” and follow the directions in your wallet. It’s worth noting that OpenSea charges a variety of fees. In effect, this implies you’ll always pay more than the NFT’s retail price.
- You can try to purchase NFTs at a lower price than the current set price by making offers. Select the “Make an Offer” option. You’ll be asked to choose the currency you’d want to pay in. WETH, USDC, and DAI are the only three methods for making offers. You’ll have to pay a one-time gas fee if you haven’t made any purchases with these currencies with your wallet before.
- Some owners choose to sell their NFTs through timed auctions, especially if there is a great demand for them. As a buyer, you’ll need WETH to create your bid by clicking the Place Bid button, precisely like you would for fixed-price NFTs.
- Confirm the transaction on your Metamask wallet as the last step. It’s worth noting that you’ll have to pay a gas fee which can sometimes be more expensive than the NFT itself. Wait during less busy hours as a solution.
New NFT Community for Artists, Designers & Creators
The Forest is the first NFT community for designers & creatives. The Forest is more than a community however. It is an educational platform and NFT marketplace that empowers creatives with the knowledge, connections & tools to thrive as NFT & Web3 professionals.
Reason to join: This NFT community is for artists, illustrators, and designers looking to become thriving Web3 & NFT creators and is tailored towards beginners.
- Ultimate NFT Marketing Guide
- How to Make and Sell an NFT
- Where Do you Store NFTs? How does NFT Storage Work?
- Frequently Asked Questions about NFTs
- Different Types of NFTs
Frequently Asked Questions
What is OpenSea?
OpenSea is the most popular American online marketplace where users can buy and sell Non-Fungible Tokens (NFT). It covers almost all types of NFTs like art, music, photography, collectibles, sports, virtual lands, and many more.
What is the popular NFT Marketplace?
OpenSea - The broadest NFT marketplace that covers all NFT types.
Binance - The best future-proof marketplace that has its own blockchain.
CoinBase - The Simplest and most well-connected marketplace.
Rarible - Best suited for rare media collections.
What is a Web3 Wallet?
Web3 wallet is a crypto wallet that stores all types of digital assets including both fungible and non-fungible tokens. It promotes bankless financial transactions by letting you interact with decentralized applications.
Is MetaMask a Web3 Wallet?
MetaMask is the most popular wallet compatible with Web3. This user-friendly interface interacts with block-chains and supports you in exploring Web3 directly from the MetaMask apps.
How to create an NFT art?
To create an NFT art, you will need an NFT marketplace and payment wallets. NFT platforms will let you create your art pieces. Once you connect them with payment wallets, you can receive payments for every successful sale.
How To Buy NFTs in 2024
There are many other marketplaces you can purchase NFTs. You can view our “Best NFT Marketplaces” guide. The purchasing procedure is quite similar to what we’ve described thus far.
To summarize, you’ll need a web3 wallet that’s compatible with the marketplace where you’ll be purchasing NFTs, as well as cryptocurrencies to fund your wallet. To give you an example, on the Binance NFT Marketplace, you must use BNB currency to purchase NFTs, whereas, on Solanart, you must use Solana currency.