blog

In the Lab

The business, technology, and marketing worlds are constantly evolving. Here are our thoughts on the latest trends in the digital space.

NFT-blog2 (2)

How To Purchase your first NFT on OpenSea

Buying your first NFT can be a confusing and overwhelming process. We hope this simple guide can help you on your journey. 

 

There are three steps to making your first purchase:

  1. Set up a Web 3 Non-Custodial Wallet
  2. Fund your wallet with Ethereum
  3. Purchasing an NFT on OpenSea

 

Step 1: Set Up A Web 3 Non-Custodial Wallet (We recommend MetaMask)

Before you can purchase your NFT’s on OpenSea, you need to set up a digital wallet and add Ethereum (ETH – the cryptocurrency used by OpenSea). The Industry standard is MetaMask, and it can be downloaded onto your Web Browser as an extension. 

  • Go to https://opensea.io/login and select MetaMask
  • Install MetaMask as an extension to your browser 
  • Click the “Get Started” button in the browser window 
  • Select “Create Wallet” 
  • Set up your MetaMask password 
  • Write down your secret phrase and keep it in a safe place. This will help you backup and restore your account ***Important: NEVER TELL YOUR SECRET PHRASE TO ANYONE***
  • Select your secret phrase order and click “Confirm” 
  • If you entered your secret phrase correctly, you will be brought to a congratulations page where you can select “All Done”  
  • Click “Next” to connect your MetaMask wallet to OpenSea 
  • Click “Next” to bring you to your account page 

 

 

Step 2: Fund your wallet with Ethereum (ETH)

There are two ways to fund your Web 3 wallet with ETH. 

Option 1: You already own Ethereum

  • If you already own Ethereum (ETH) on an exchange such as Coinbase, or Binance you can transfer your ETH directly from your exchange to your Web 3 wallet. 
  • Follow instructions provided by your exchange to learn more about withdrawals and transfers. Or check out these helpful resources here:

 

Option 2: Buy Ethereum through MetaMask (Not available in Texas)

  • Once you are in your account page, click “buy”
  • Continue to Wyre 
  • Enter how much Ethereum you want to purchase. There are transactional fees (called gas) so make sure you purchase enough to avoid more fees later. 
  • Choose the form of payment you will be using and click “next”
  • Enter your phone number and payment information and click “submit”
  • You will need to enter a payment authentication code sent to the phone number you provided in the step above. 
  • Authorize the payment by entering your six digit code for the pending transaction. 
  • Your MetaMask balance should be updated after a few minutes of payment confirmation. 
  • For more information check out these guides:

 

Option 3: Buy Ethereum through An Exchange

Because some crypto services aren’t available in Texas (like Transact and Wyre) if you live in Texas you might need to create an account at an exchange to purchase Ethereum. There are a number of options to choose from including:

 

Each exchange will have a simple sign-up, identity verification, and purchasing process that allows you to buy your first Ethereum. 

Once that’s done you’ll still need to transfer it from your exchange wallet into your Web 3 Wallet (MetaMask). 

 

Step 3: Purchasing an NFT on OpenSea

  • Go to the collection page and click the NFT you want to buy, and click “buy now”
  • Read through and agree to the purchasing terms, and click “checkout” 
  • The MetaMask extension will drop down and you will be able to see the total purchase price. Gas fees can vary depending on the activity in the Ethereum network but are required to complete the transaction. 

 

Other Helpful Resources:

 

Up Next

contact us

Ready to launch your latest digital project?
Want to learn more about what Moxie can do for you?
Let’s start a conversation.

Get in Touch