How to Purchase NFTs

by | Last updated Mar 19, 2024 | Digital Marketing

Read Time: 3 min read

Summary: TL;DR: NFTs exploded in 2021, generating billions in revenue with sellers making up to $69 million on a single sale. To buy NFTs, you need cryptocurrency and a wallet. Popular marketplaces like OpenSea offer diverse NFT options, from art to NBA highlights. Buying involves auctions or fixed prices, with fees for transactions. Storing NFTs can be done in hot wallets for easy access or cold wallets for enhanced security. NFTs are unique digital assets recorded on blockchains. Interested in NFTs? Our guide can help you start your NFT investing journey! In 2021, NFTs surged in popularity, offering unique digital assets recorded on blockchains and generating billions in revenue. Interested in NFTs? Our guide can help you start your NFT investing journey!

NFTs exploded in popularity in 2021. The industry made billions in total revenue and private sellers earned up to 69 million on a single sale. Want to learn how to buy NFTs for yourself? Our guide can help get you started on your NFT investing journey!

What Is an NFT?

An NFT, or non-fungible token, is a one-of-a-kind digital asset that can be bought, traded, and sold with cryptocurrency. NFTs are made of code that prove you alone own the digital work, plus potential NFT physical assets that come with some NFTs.

Each time you buy or sell NFTs, the transaction is permanently and publicly recorded in blockchains—that is, distributed databases that can’t be edited or deleted. Types of NFTs include photos, graphics, music, collectibles, video games, event tickets, memes, and much more.

Types of cryptocurrency, like Bitcoin, are digital forms of real money that have the same value from coin to coin within a currency. In contrast, an NFT’s value comes from intangible and unpredictable factors like its uniqueness, the cultural importance of the piece, the popularity of its artist, and its overall quality.

What Do You Need to Buy an NFT?

Wondering exactly how to buy cryptocurrency? Choose between a crypto exchange to trade currency directly with other buyers and sellers, or use a crypto broker which offers easier-to-use interfaces at slightly higher prices. Create and verify your account, deposit some real world cash, and place your order for one of the available digital currencies. Top cryptocurrencies to choose from include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

Next, you’ll need to transfer your crypto coins into a crypto wallet. You can use a software-based hot wallet like MetaMask that’s always connected to the internet for fast transactions and easy coin storage—some crypto exchange platforms like Coinbase offer free hot wallets when you open an account, too. Or you can use a cold wallet, a more secure option that stores coins and tokens in physical, offline hardware like a crypto USB. Whatever wallet you choose, be sure to keep track of your public keys and private keys. You can’t complete crypto transactions without them!

Where to Buy NFTs

There are already hundreds of NFT marketplaces to choose from, so you’ll need to determine the best NFT marketplace for you. Beginner NFT buyers should consider which tokens and wallets the marketplace prioritizes and accepts. A beginner-friendly top NFT marketplace is OpenSea. It was the first NFT marketplace founded and is still considered the most popular option.

There are also plenty of niche marketplaces to check out. For instance, you can purchase NFTs like NBA highlight videos featuring pro athletes on NBA Top Shot or high-end art in a digital gallery on SuperRare.

How to Buy NFTs

Once you’ve browsed the NFT marketplace and found an NFT you love, it’s time to buy. Most NFT sales work on a timed auction format, but some OpenSea NFTs also allow you to buy the piece at a set price. In most cases, you’ll make an offer that’s higher than the previous bid, link your wallet, and confirm your bid. The NFT auction timer resets to 15 minutes with every new bid, so it may take several offers to secure your NFT.

If your NFT bid is accepted and verified, you’ll be notified and the transaction will be solidified in the blockchain, showing you as the NFT’s new owner. In addition to the cost of the NFT itself, you’ll pay some fees on the transaction. These “gas fees” are paid to crypto miners, but rates vary based on how busy the marketplace is. Each marketplace can also determine their own service fees—for example, OpenSea fees are 2.5% of the entire sale.

How to Store NFTs

The best NFT storage option for you depends on your investing priorities. If you want to keep trading, selling, and bidding, a hot wallet makes it easier to access and transfer your NFTs as needed. For more secure storage of your digital masterpieces, cold wallet storage keeps NFTs out of reach from potential hackers. That way, your NFTs will be safe forever—or until you decide to sell for an appreciated profit!

Want to develop and promote an NFT for your brand or learn more about the NFT ecosystem? Our savvy creative and development teams can help. Contact us today to learn more!

Sierra Karst


Sierra Karst is a Search Engine Optimization (SEO) Strategist at Hurrdat, where she specializes in enhancing website and blog visibility for clients ranging from small, local businesses to S&P 500 companies. She enjoys analyzing performance data and creating comprehensive optimization plans that consider user experience and intent, search engine algorithms and ranking signals, and web development best practices. Sierra utilizes her skills in a wide range of SEO tasks, including auditing and building internal links, optimizing on-page content to improve user experience and conversion rates, devising and implementing site redirect plans, identifying and resolving technical SEO issues, informing SEO-optimized content strategies, and more.

Sierra got her start in content creation and strategy at the University of Nebraska-Lincoln, where she pursued a Bachelor of Journalism degree and several digital marketing internships. She continues to love all that Nebraska offers, from its vibrant local food scene and picturesque prairie hikes to countless opportunities to engage with community-building organizations.

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