NFTs!/n
NFTs are a real rollercoaster - that goes without saying! The best example of this is the <strong>NFT of Jack Dorsey’s first-ever tweet</strong> - the Twitter co-founder initially sold it for $2.9 million, and when the new owner tried reselling it for close to $50 million, the highest bid he received was around $80,000, with the follow-up bid not even reaching $300. Just imagine how he felt!</p>\n<p>We’ve all been there, though - bought NFTs that we really believed would rise in value, only for them to peak soon after, and then crash down, with no signs of recovery. This is why talking about the core aspects of finding the best NFTs is so important!</p>\n<p>In this section, you'll find out about the <strong>dos and don’ts of picking the right NFT projects, and buying NFTs themselves</strong>. We’ll talk a bit about how the general situation within the market influences the prices of NFTs, and then cover the biggest points to look out for, when trying to find the most promising NFT projects for yourself!</p>\n<p><em>Let’s get to it!</em></p>\n<h2>NFTs and the General Crypto Market</h2>\n<p>So, to start off, let’s address the elephant in the room. As you can imagine, there are some steps that you can take when it comes to analyzing NFT projects, <strong>asking “what NFT should I buy?”, and finding the “right one” for yourself</strong>. It’s like, picking out a computer at the store - you look through the specs, see if the parameters suit your needs, and then make the purchase, if all seems fine!</p>\n<p>Sorting through NFT projects can become a bit more complicated, however, when you find yourself in a bear market - a period of time during which there are few new projects popping up, and the various crypto asset prices are crashing down, hard.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Crypto market.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-01.jpg/" alt=\"Buying NFT: Crypto market.\" width=\"1000\" height=\"662\" /></p>\n<p>Now, it’s kind of an unwritten rule that, <strong>during bear markets, teams tend to concentrate on developing and building their projects</strong>, so that they could be launched when the market turns around. This, in turn, makes finding and buying NFTs quite a bit more difficult - there simply aren’t as many top-notch projects to look at!</p>\n<p>Another point to be noted has to do with motivation, as well. Think about it this way - imagine that, at some point during the summer, as you browse through the internet on your computer, you get an ad for winter shoes. The price is decent, and the shoes do look warm - however, just how likely are you to actually purchase them, at that point in time?</p>\n<p>For most people, the likelihood of that happening is, frankly, rather slim! That’s simply due to the fact that it’s the middle of summer - you’re thinking about pool parties and beaches, not winter shoes!</p>\n<p>The crypto market works the same way - even if you do find some amazing NFT projects, and learn how to invest in NFT technology, chances are that <strong>you’ll have a difficult time re-selling those NFTs, if the market is currently experiencing negative sentiments</strong>.</p>\n<p>So, ya - that’s essentially the first major thing that I wanted to point your attention to. When looking at how do you buy NFTs, do keep the general market situation in mind - it could save you a lot of money and patience, in the long run!</p>\n<h2>Design & Originality</h2>\n<p>Now, moving on to the actual “dos and don’ts” of buying NFTs, the very first step related to the actual NFTs would be for you to look at the <strong>design quality of the project, as well as its originality</strong>.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Unique NFT projects.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-02.jpg/" alt=\"Buying NFT: Unique NFT projects.\" width=\"1000\" height=\"550\" /></p>\n<p>Both of these aspects are very self-explanatory. It’s like picking out a game to play - would you rather play a copy-pasted version of some popular game that you’ve already seen dozens of times before, or a visually-stunning game with top-tier graphics and original storytelling?</p>\n<p>Naturally, probably everyone would pick the latter. The same applies to choosing NFTs, as well!</p>\n<p>By now, there are countless numbers of Bored Ape and CryptoPunk lookalikes. The wider NFT community knows this - projects like these don’t really get a lot of attention anymore, and thus, they tend to perform… Let’s just say, not so great.</p>\n<p><strong>Instead, your goal should be to look for unique NFT projects</strong>. This uniqueness could actually be anything - the design of the characters, some sort of a cool use case, an original twist on the tokenomics of the project - anything!</p>\n<p>That being said, it’s probably obvious that <strong>visual appeal plays a big factor with non-fungible tokens</strong>. Thus, if you’re thinking about flipping the NFTs in order to make a profit, make sure to look for the most interesting, eye-catching designs!</p>\n<h2>Development Team</h2>\n<p>Next, once you have a couple of projects in mind, and understand how to know what NFTs to buy, the second major thing that you should do is <strong>figure out who are the creators of your chosen NFTs</strong>.</p>\n<p>Now, this point’s a bit tricky, because there are countless of really cool (and successful!) NFT projects that have anonymous developers behind them. It’s kind of an intuition thing at that point - if you have a gut feeling that the developers of the NFT won’t just randomly abandon the project, and that they’re “in it” for the long term, the anonymity point becomes a bit more lenient.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: NFT community.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-03.jpg/" alt=\"Buying NFT: NFT community.\" width=\"1000\" height=\"552\" /></p>\n<p>That being said, you should still take the time and look into the developers (or, the general team) behind the NFT that you’re thinking of buying. Even if they don’t reveal their identities, you can still <strong>observe how they interact with the community</strong> - the way they talk, the things they say, how they respond to difficult questions, and so on.</p>\n<p>All of these things can really tell you a lot about how the project will be managed! It’s actually something that can impact the price of your chosen NFT, quite a bit, especially in the long term.</p>\n<p>What you should not do, though, is trust developers who appear like they have something to hide, or who are actively dodging questions from the community. <strong>If there’s any type of shadiness involved with the project, it’s probably a good idea to avoid it</strong>, and move on to something else, completely.</p>\n<h2>Community Support</h2>\n<p>Looking at what makes an NFT valuable, imagine this: you’ve come across an awesome-looking NFT project, noticed that it has some cool perks and features, and chatted with the developers, who seem to be very knowledgeable and positive. What do you think comes next, as a natural progression of things that you should do while picking out and buying an NFT?</p>\n<p>If you said <strong>“community checks”</strong>, you’re on point!</p>\n<p>It could be the best, most revolutionary NFT project in the world - if it doesn’t accumulate community support, and there’s no hype behind it, it’s very likely to flop, sooner rather than later.</p>\n<p>Once again - if you’re interested in how to invest in NFT technology, <strong>strong community backing is an essential factor to consider and look into</strong>.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Social media.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-04.jpg/" alt=\"Buying NFT: Social media.\" width=\"1000\" height=\"548\" /></p>\n<p>How is something like this measured? Well, it’s pretty simple, really - your quest should be to check out every existing social media platform that the NFT project has an associated account on. Twitter, Meta, Instagram, Telegram, Discord, and so on - you name it!</p>\n<p>The last couple of platforms - Telegram and Discord - are actually some of the best places to begin your search on. This is due to the interactive nature that they possess - chances are that you’ll find the moderators or developers of the project chatting with their community on Discord, or answering questions on Telegram.</p>\n<p>Look at the numbers of followers that the project has amassed, the likes and shares that it receives, and the number of people talking about it, in general. All of these things work to create a pretty good general outlook on what the community is like, and whether or not buying this specific NFT is the right pick for you!</p>\n<p>One more point that I’d like to mention here is that <strong>there are some sneaky people out there</strong>. Specifically, there are traders who are selling themselves their NFTs, thus artificially inflating their price. These can be rogue, individual traders, or even entire communities, as well.</p>\n<p><strong>How do you spot something like this? </strong>Well, you need to look at the history of the NFT - how many times it has been traded, what are the wallet addresses of previous owners, whether or not they repeat themselves throughout the trading history, and so on. Make sure to keep an eye out for this form of trickery!</p>\n<h2>Project Roadmap - A Key Factor to Consider</h2>\n<p>Moving on, the next major thing to consider when you’re looking at buying NFTs with the most potential is the roadmap of the project.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Project roadmap.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-05.jpg/" alt=\"Buying NFT: Project roadmap.\" width=\"1000\" height=\"563\" /></p>\n<p><strong>I cannot stress this enough -</strong> <strong>it’s an absolutely essential factor that needs to be looked into! </strong>Think about it like this - imagine that you planned a trip, and wanted to fly from London to New York. You buy your ticket and board the plane. The pilots, however, don’t have a flight plan - they just take off, and fly straight. There’s a pretty good chance that you’ll end up somewhere flying like this, but it’s likely not going to be New York.</p>\n<p>The same logic can be applied to NFT projects, and your consideration of how to know which NFT to buy. If the creators behind the NFTs don’t really have a solid plan where they want to take the project, this could result in failure, really fast. Sure, there might be some initial hype, and if the NFTs are really cool-looking, they could generate a few sales - however, in the long run, chances are that the community would abandon this project for a more planned-out one, pretty soon.</p>\n<p><strong>It’s not enough to simply “take a look” at the roadmap, though</strong>. You need to analyze what features the project possesses, what are the planned future updates, where will the money from the sales go, what platforms the NFTs are going to be hosted on, whether or not there is going to be a DAO, airdrops, giveaways, celebrity promotions, and so on.</p>\n<p>That is, admittedly, a lot to cover! These aspects, however, can really help you differentiate between solid and well-rounded projects, and rug pulls in the making.</p>\n<p>Not familiar with the term? It’s a type of scam that’s rather common in the crypto and NFT spaces - check out the dedicated <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto/">section on this topic, to both get familiar with this concept, as well as learn how to spot and avoid potential rug pulls, wherever they might be!</p>\n<p>As a final point that needs to be mentioned, when you’re reading through the roadmap of the project, you will eventually come across a section about <strong>the minting process of the NFT, and everything that relates to it</strong>. Make sure to pay extra close attention to this part of the roadmap.</p>\n<p>Essentially, this is where you’ll be able to learn about how the NFTs were minted, how the rarity system works, and even about the floor price of the non-fungible tokens, when they’re finally released. All of this information will give you a better idea of how the project works, and whether or not it’s the right choice for you!</p>\n<h2>Conclusions</h2>\n<p>I do hope that you’ve learned a lot, and now know what to look out for! Whether it be traders selling themselves their NFTs, or questions such as “how to know what NFTs to buy?”, in general, we’ve covered all of the big aspects that you need to know, in order to make the right decisions!</p>","meta_title":"Buying NFTs: How to Choose Correctly?","meta_description":"Are you thinking about buying NFTs but don't know where to start and what to look out for? You'll find all the do's and don't right here!","meta_keywords":"buying nft, most valuable nft, what nft should i buy, how do you buy nft, what makes an nft valuable, traders are selling themselves their nfts, how to know which nft to buy, how to know what nfts to buy, how to invest in nft technology, buying an nft","order":3,"language":"en","created_at":"2023-02-27T11:27:31.000000Z","updated_at":"2023-03-02T07:26:17.000000Z","modified_content":"<p>In this section, I’m going to tell you about the dos and don’ts of picking and buying <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">NFTs!
/n
NFTs are a real rollercoaster - that goes without saying! The best example of this is the <strong>NFT of Jack Dorsey’s first-ever tweet</strong> - the Twitter co-founder initially sold it for $2.9 million, and when the new owner tried reselling it for close to $50 million, the highest bid he received was around $80,000, with the follow-up bid not even reaching $300. Just imagine how he felt!</p>\n<p>We’ve all been there, though - bought NFTs that we really believed would rise in value, only for them to peak soon after, and then crash down, with no signs of recovery. This is why talking about the core aspects of finding the best NFTs is so important!</p>\n<p>In this section, you'll find out about the <strong>dos and don’ts of picking the right NFT projects, and buying NFTs themselves</strong>. We’ll talk a bit about how the general situation within the market influences the prices of NFTs, and then cover the biggest points to look out for, when trying to find the most promising NFT projects for yourself!</p>\n<p><em>Let’s get to it!</em></p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 comparison-suggestion pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif/"/n alt=\"How to Pick the Right NFTs? (Animated DOs & DON'Ts)\"\n title=\"How to Pick the Right NFTs? (Animated DOs & DON'Ts)\" class=\"border-0\">\n <p>Video Explainer</p>\n </div>\n </div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: Tips and Tricks of Choosing the Right NFTs</h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"Tips and Tricks of Choosing the Right NFTs\" video explainer</p>\n </div>\n </div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"PyV3MIMMc3M\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"></div>\n <p class=\"text-left dyk-video-title\">How to Pick the Right NFTs? (Animated DOs & DON'Ts)</p>\n <img src=https://www.bitdegree.org/"https://i.ytimg.com/vi/PyV3MIMMc3M/hq720.jpg/"/n alt=\"How to Pick the Right NFTs? (Animated DOs & DON'Ts)\"\n title=\"How to Pick the Right NFTs? (Animated DOs & DON'Ts)\"\n class=\"p-0\">\n <img class=\"play-button\" data-target=\"#video-modal\"\n src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/video-button.png/"/n alt=\"How to Pick the Right NFTs? (Animated DOs & DON'Ts)\">\n </div>\n </div>\n </div>\n </div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"></i>\n </div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE</h4>\n <span>ON YOUTUBE</span>\n </div>\n </div>\n </a>\n </div>\n </div>\n </div>\n </div>\n</div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\" aria-labelledby=\"PyV3MIMMc3M\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"></i>\n </button>\n <div id=\"iframe\"></div>\n </div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/crypto-subscribe.jpg/" alt=\"Subscribe\">\n </div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE</span>\n </p>\n </div>\n </div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease</h4>\n <span>New explainer videos every week!</span>\n </div>\n </div>\n </div>\n </div>\n </a>\n </div>\n </div>\n</div>\n<h2>NFTs and the General Crypto Market</h2>\n<p>So, to start off, let’s address the elephant in the room. As you can imagine, there are some steps that you can take when it comes to analyzing NFT projects, <strong>asking “what NFT should I buy?”, and finding the “right one” for yourself</strong>. It’s like, picking out a computer at the store - you look through the specs, see if the parameters suit your needs, and then make the purchase, if all seems fine!</p>\n<p>Sorting through NFT projects can become a bit more complicated, however, when you find yourself in a bear market - a period of time during which there are few new projects popping up, and the various crypto asset prices are crashing down, hard.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Crypto market.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-01.jpg/" alt=\"Buying NFT: Crypto market.\" width=\"1000\" height=\"662\" /></p>\n<p>Now, it’s kind of an unwritten rule that, <strong>during bear markets, teams tend to concentrate on developing and building their projects</strong>, so that they could be launched when the market turns around. This, in turn, makes finding and buying NFTs quite a bit more difficult - there simply aren’t as many top-notch projects to look at!</p>\n<p>Another point to be noted has to do with motivation, as well. Think about it this way - imagine that, at some point during the summer, as you browse through the internet on your computer, you get an ad for winter shoes. The price is decent, and the shoes do look warm - however, just how likely are you to actually purchase them, at that point in time?</p>\n<p>For most people, the likelihood of that happening is, frankly, rather slim! That’s simply due to the fact that it’s the middle of summer - you’re thinking about pool parties and beaches, not winter shoes!</p>\n<p>The crypto market works the same way - even if you do find some amazing NFT projects, and learn how to invest in NFT technology, chances are that <strong>you’ll have a difficult time re-selling those NFTs, if the market is currently experiencing negative sentiments</strong>.</p>\n<p>So, ya - that’s essentially the first major thing that I wanted to point your attention to. When looking at how do you buy NFTs, do keep the general market situation in mind - it could save you a lot of money and patience, in the long run!</p>\n<h2>Design & Originality</h2>\n<p>Now, moving on to the actual “dos and don’ts” of buying NFTs, the very first step related to the actual NFTs would be for you to look at the <strong>design quality of the project, as well as its originality</strong>.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Unique NFT projects.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-02.jpg/" alt=\"Buying NFT: Unique NFT projects.\" width=\"1000\" height=\"550\" /></p>\n<p>Both of these aspects are very self-explanatory. It’s like picking out a game to play - would you rather play a copy-pasted version of some popular game that you’ve already seen dozens of times before, or a visually-stunning game with top-tier graphics and original storytelling?</p>\n<p>Naturally, probably everyone would pick the latter. The same applies to choosing NFTs, as well!</p>\n<p>By now, there are countless numbers of Bored Ape and CryptoPunk lookalikes. The wider NFT community knows this - projects like these don’t really get a lot of attention anymore, and thus, they tend to perform… Let’s just say, not so great.</p>\n<p><strong>Instead, your goal should be to look for unique NFT projects</strong>. This uniqueness could actually be anything - the design of the characters, some sort of a cool use case, an original twist on the tokenomics of the project - anything!</p>\n<p>That being said, it’s probably obvious that <strong>visual appeal plays a big factor with non-fungible tokens</strong>. Thus, if you’re thinking about flipping the NFTs in order to make a profit, make sure to look for the most interesting, eye-catching designs!</p>\n<h2>Development Team</h2>\n<p>Next, once you have a couple of projects in mind, and understand how to know what NFTs to buy, the second major thing that you should do is <strong>figure out who are the creators of your chosen NFTs</strong>.</p>\n<p>Now, this point’s a bit tricky, because there are countless of really cool (and successful!) NFT projects that have anonymous developers behind them. It’s kind of an intuition thing at that point - if you have a gut feeling that the developers of the NFT won’t just randomly abandon the project, and that they’re “in it” for the long term, the anonymity point becomes a bit more lenient.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: NFT community.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-03.jpg/" alt=\"Buying NFT: NFT community.\" width=\"1000\" height=\"552\" /></p>\n<p>That being said, you should still take the time and look into the developers (or, the general team) behind the NFT that you’re thinking of buying. Even if they don’t reveal their identities, you can still <strong>observe how they interact with the community</strong> - the way they talk, the things they say, how they respond to difficult questions, and so on.</p>\n<p>All of these things can really tell you a lot about how the project will be managed! It’s actually something that can impact the price of your chosen NFT, quite a bit, especially in the long term.</p>\n<p>What you should not do, though, is trust developers who appear like they have something to hide, or who are actively dodging questions from the community. <strong>If there’s any type of shadiness involved with the project, it’s probably a good idea to avoid it</strong>, and move on to something else, completely.</p>\n<h2>Community Support</h2>\n<p>Looking at what makes an NFT valuable, imagine this: you’ve come across an awesome-looking NFT project, noticed that it has some cool perks and features, and chatted with the developers, who seem to be very knowledgeable and positive. What do you think comes next, as a natural progression of things that you should do while picking out and buying an NFT?</p>\n<p>If you said <strong>“community checks”</strong>, you’re on point!</p>\n<p>It could be the best, most revolutionary NFT project in the world - if it doesn’t accumulate community support, and there’s no hype behind it, it’s very likely to flop, sooner rather than later.</p>\n<p>Once again - if you’re interested in how to invest in NFT technology, <strong>strong community backing is an essential factor to consider and look into</strong>.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Social media.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-04.jpg/" alt=\"Buying NFT: Social media.\" width=\"1000\" height=\"548\" /></p>\n<p>How is something like this measured? Well, it’s pretty simple, really - your quest should be to check out every existing social media platform that the NFT project has an associated account on. Twitter, Meta, Instagram, Telegram, Discord, and so on - you name it!</p>\n<p>The last couple of platforms - Telegram and Discord - are actually some of the best places to begin your search on. This is due to the interactive nature that they possess - chances are that you’ll find the moderators or developers of the project chatting with their community on Discord, or answering questions on Telegram.</p>\n<p>Look at the numbers of followers that the project has amassed, the likes and shares that it receives, and the number of people talking about it, in general. All of these things work to create a pretty good general outlook on what the community is like, and whether or not buying this specific NFT is the right pick for you!</p>\n<p>One more point that I’d like to mention here is that <strong>there are some sneaky people out there</strong>. Specifically, there are traders who are selling themselves their NFTs, thus artificially inflating their price. These can be rogue, individual traders, or even entire communities, as well.</p>\n<p><strong>How do you spot something like this? </strong>Well, you need to look at the history of the NFT - how many times it has been traded, what are the wallet addresses of previous owners, whether or not they repeat themselves throughout the trading history, and so on. Make sure to keep an eye out for this form of trickery!</p>\n<h2>Project Roadmap - A Key Factor to Consider</h2>\n<p>Moving on, the next major thing to consider when you’re looking at buying NFTs with the most potential is the roadmap of the project.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Buying NFT: Project roadmap.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-05.jpg/" alt=\"Buying NFT: Project roadmap.\" width=\"1000\" height=\"563\" /></p>\n<p><strong>I cannot stress this enough -</strong> <strong>it’s an absolutely essential factor that needs to be looked into! </strong>Think about it like this - imagine that you planned a trip, and wanted to fly from London to New York. You buy your ticket and board the plane. The pilots, however, don’t have a flight plan - they just take off, and fly straight. There’s a pretty good chance that you’ll end up somewhere flying like this, but it’s likely not going to be New York.</p>\n<p>The same logic can be applied to NFT projects, and your consideration of how to know which NFT to buy. If the creators behind the NFTs don’t really have a solid plan where they want to take the project, this could result in failure, really fast. Sure, there might be some initial hype, and if the NFTs are really cool-looking, they could generate a few sales - however, in the long run, chances are that the community would abandon this project for a more planned-out one, pretty soon.</p>\n<p><strong>It’s not enough to simply “take a look” at the roadmap, though</strong>. You need to analyze what features the project possesses, what are the planned future updates, where will the money from the sales go, what platforms the NFTs are going to be hosted on, whether or not there is going to be a DAO, airdrops, giveaways, celebrity promotions, and so on.</p>\n<p>That is, admittedly, a lot to cover! These aspects, however, can really help you differentiate between solid and well-rounded projects, and rug pulls in the making.</p>\n<p>Not familiar with the term? It’s a type of scam that’s rather common in the crypto and NFT spaces - check out the dedicated <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto/">section on this topic, to both get familiar with this concept, as well as learn how to spot and avoid potential rug pulls, wherever they might be!</p>\n<p>As a final point that needs to be mentioned, when you’re reading through the roadmap of the project, you will eventually come across a section about <strong>the minting process of the NFT, and everything that relates to it</strong>. Make sure to pay extra close attention to this part of the roadmap.</p>\n<p>Essentially, this is where you’ll be able to learn about how the NFTs were minted, how the rarity system works, and even about the floor price of the non-fungible tokens, when they’re finally released. All of this information will give you a better idea of how the project works, and whether or not it’s the right choice for you!</p>\n<h2>Conclusions</h2>\n<p>I do hope that you’ve learned a lot, and now know what to look out for! Whether it be traders selling themselves their NFTs, or questions such as “how to know what NFTs to buy?”, in general, we’ve covered all of the big aspects that you need to know, in order to make the right decisions!</p>","preview_url":"https://www.bitdegree.org/crypto/learn/buying-nft","youtube_video":{"id":139,"channel_id":1,"sort":12,"video_title":"How to Pick the Right NFTs? (Animated DOs & DON'Ts)","description":"How should you pick the right NFT?\n\nNFTs can be a really exciting topic - so much so, that it’s easy to get lost in the world of beautiful digital art and collectibles. This is why it’s important to understand how to pick the right NFTs for yourself, whether it be for investment purposes, building a collection, or else.\n\nIn this video, I will tell you about exactly that - the dos and don’ts of finding the best NFTs. I will explain how the general market trends can influence the NFT industry (and why that’s relevant), and then we’ll cover the most important aspects to keep in mind when choosing the right NFTs for yourself.\n\nDo you have any tips about finding and picking out the best NFT projects? Make sure to share your experiences in the comment section below!\n\nVideo Time Table:\n0:00 Introduction to How to Pick the Right NFTs\n1:09 NFTs & the General Crypto Market\n2:49 NFT Design & Originality\n3:54 Development Team Behind the NFTs\n5:00 Community Support\n6:51 Project Roadmap\n8:22 The Minting Process\n8:50 Wrap-up: How to Pick the Right NFTs\n\nMore related videos:\n🎨 What is an NFT? https://www.youtube.com/watch?v=YL0-sEzDDNI\n🎨 How to Trade NFTs Safely? https://www.youtube.com/watch?v=zxx-yQr9YpU\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps://twitter.com/crypto_xplained\n\n#NFT #BuyingNft #WhatNftShouldIBuy","video_id":"PyV3MIMMc3M","duration":563,"view_count":139,"thumbnail_url":"https://i.ytimg.com/vi/PyV3MIMMc3M/hq720.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2023-02-24 16:00:29","created_at":"2023-02-24T23:00:07.000000Z","updated_at":"2023-05-21T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}}},"prevSection":{"id":1,"featured_image_id":6396,"original_id":null,"youtube_video_id":11,"author_id":42,"translator_id":null,"chapter_id":5,"title":"What are Non-Fungible Tokens (NFTs)?","slug":"what-are-nfts","definition":"Can you wrap your head around the fact that one of the most expensive NFTs in the world was sold for over $69,3 million?","status":"published","content":"<p>Many people who have gotten into <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">NFTs will tell you that the learning curve is really confusing. Both crypto experts, and also traditional artists that have never heard about <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</a></strong> before are going to have completely different outlooks on what an NFT is, and what it can be used for.</p>\n<p>Personally, I believe that everyone should have at least a fundamental understanding of NFTs since they are becoming increasingly more popular by the day. Understanding the concept will surely help you clearly see what NFTs are and why they are so valuable.</p>\n<p>In this section, we’re going to take a good look at NFTs - specifically, what they are, where they come from, why they are so expensive, and how you can purchase or even create them yourself. And don’t worry - we’ll avoid any and all technical jargon, and only introduce industry terms when they’re absolutely essential to the context of the section. </p>\n<p><em>So, let’s dive in!</em></p>\n<p>An “NFT” is a “<strong>non-fungible token</strong>”. “Non-fungible” is a fancy way of saying that something is completely unique, and cannot be replaced with something else.</p>\n<p>For example, think of your car (of course, if you have one) - sure, there are other cars out there that are probably just like yours, but they’ll have different mileage, different tires, engines, personal interior gadgets, various dings & dents, or even those stupid stickers on the trunk. All of these things make your car UNIQUE - there’s only ONE car purely like THAT!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-1.o.jpg/" alt=\"What are NFTs: "Non-Fungible Token" definition.\" width=\"1000\" height=\"550\" /></p>\n<p>So, before we continue, an example of a “<strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fungible/">fungible” asset would be the <strong>value of a $1 bill</strong>. This is because the value of your $1 will always be equal to the value of another $1 bill, and you can trade your $1 for any other $1 bill out there - something you wouldn’t be able to do with your car.</p>\n<p>Following that, a token is simply a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-digital-asset/">digital asset</a></strong>. </p>\n<p>Rather, tokens are used as <strong>representations of different asset kinds</strong>. Obviously, you can’t physically take your car and just put it into the internet, as you put it into your garage. That's why you need some sort of digital representation tool! And this is where tokens come in. </p>\n<p>So, if you have a car, you could create a token to represent that car on the internet, as a physical object. Although there’s much more to it, in this context, you can think of it as a digitalized version of a physical item.</p>\n<p>Moving on and continuing with that car example, let’s imagine you have taken a picture of your car, and later created a digital token for it - this would be the NFT of your car! It’s “non-fungible” since it’s unique, and it’s a token since it’s not the actual car, but rather, <strong>a digital representation</strong> of it!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-2.o.jpg/" alt=\"What are NFTs: transforming a physical object into an NFT.\" width=\"1000\" height=\"550\" /></p>\n<p>Most people associate the term NFT with trading cards, digital artwork, or in-game items and characters. It’s important to understand that the NFTs themselves aren’t the actual assets, but rather, representations of those assets on the blockchain.</p>\n<p>Now, <strong>blockchains are essentially data storage locations</strong> - <em>virtual databases, if you will</em>. If you were to create a unique token - an NFT - on a blockchain, it would receive <strong>a special code,</strong> which would be used to identify it in the future. Since blockchains are (mostly) public, everyone would be able to see that the token was both created by you and that it’s the original - not a copy-pasted version made by your friend or a random guy on the internet.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-3.o.jpg/" alt=\"What are NFTs: Blockchain and NFTs.\" width=\"1000\" height=\"800\" /></p>\n<p><em>Heh, that’s a lot to wrap your head around, I’ll admit. </em>But don’t worry - it gets easier from here.</p>\n<p>Let me give you another example by referencing <strong>Twitter former CEO’s Jack Dorsey’s tweet. </strong>Dorsey created an NFT out of his first-ever tweet and auctioned it off for <strong>over $2,9 million.</strong></p>\n<p>Is the tweet available for everyone to see? Yes. However, the creator-signed NFT version of the tweet belongs solely to the individual who won the auction - this is very simple to prove with the help of the blockchain.</p>\n<p>When viewed on the blockchain, NFTs are simply <strong>strings of data. </strong>This textual data references an image, a GIF, or any other asset that can be viewed on the <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/best-cryptocurrency-exchange/">exchange platforms</a></strong> where the NFT is located on. Thus, when you purchase an NFT, you actually purchase that referential data.</p>\n<p>Now, this point is crucial to understand - if you own an NFT, it actually means that <strong>you own only that data.</strong> Not an image, nor a GIF, nor some sort of a virtual character - instead, you own the data that references the aforementioned assets. This data is encoded on the blockchain and references the place where the asset (picture, GIF, etc.) is located (the server).</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-4.o.jpg/" alt=\"What are NFTs: how NFTs work.\" width=\"1000\" height=\"550\" /></p>\n<p>Theoretically, the marketplace platform could swap out the image on their servers, and your data would point to a different picture of GIF than the one you’ve bought! Also, the image can simply be deleted from the server - your data on the blockchain, on the other hand, can not.</p>\n<p>Personally, this idea always bothered me the most, when it comes to NFTs. However, when you understand that you don’t own the actual image, but rather, the data on the blockchain, things start making much more sense.</p>\n<p>So, why do people buy NFTs, and why are some NFTs priced as high as they are? I mean, the earlier-mentioned Jack Dorsey’s tweet is a good reference here as well as some of the image collections from the popular NFT creators like <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptopunks/">CryptoPunks or <strong><a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Bored_Ape/" target=\"_blank\" rel=\"nofollow noindex noopener\">Bored Ape</a></strong>.</p>\n<p>Well, there are actually a few things that lead to NFTs being as desirable as they are.</p>\n<p>For starters, they are <strong>a true innovation</strong> in the first place, and as most have heard, also an easy way to invest and get some profits. NFTs are the first phenomenon of this kind, and people still don’t really know what to make of them. Should they purely become a future art? Maybe the gaming industry could benefit most from them? Is there any utility for an NFT?</p>\n<p>These questions showcase that NFTs are still very new, and people are attracted to innovations that may potentially prove to be a good investment.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-5.o.jpg/" alt=\"What are NFTs: why do people buy expensive NFTs?\" width=\"1000\" height=\"650\" /></p>\n<p>This is actually the second big reason behind their popularity - the speculated value of what NFTs will be worth in the future. Some people compare NFTs to tech stocks back in the late 90s and the early 2000s. When the internet was still very young, people had no way of telling how much Amazon or Google stocks would be worth in a couple of decades.</p>\n<p>Nowadays, though, you have some NFTs being sold for huge amounts of money. For example, one of the most expensive NFTs ever sold is Beeple’s <strong>“EVERYDAY: THE FIRST 5000 DAYS”</strong> - it was sold for <strong>over $69,3 million.</strong> Following that, Beeple’s “One” was sold for $28,9 million. Some CryptoPunks have also been sold for anywhere from almost $8 million to over $10 million.</p>\n<p>The parallel here is that NFTs are still <strong>a very new concept,</strong> and a volatile market to be entering. It’s like a carnival - everything’s shiny and colorful, you never really know what sort of cool attraction lies around the corner, and every once in a while, you may find yourself on a rollercoaster ride - the last part is true for many NFT prices.</p>\n<p>This brings me to my next point - the reason why some NFTs are priced as high as they are. The answer here is actually very boring and simple - it’s a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-supply-and-demand/">supply & demand</a></strong> type of deal.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-6.o.jpg/" alt=\"What are NFTs: why are NFTs so expensive?\" width=\"1000\" height=\"580\" /></p>\n<p>Imagine that you have a very rare painting. You decide to auction it off on eBay, without setting a minimum bid. Sure, someone may come around and offer a couple of dollars for the painting.</p>\n<p>However, since it’s so rare, it’s highly likely to attract a lot of attention from art fans. This results in huge demand for something that’s very scarce - in other words, something that has <strong>a limited supply. </strong>This makes the price of the asset go up, exponentially.</p>\n<p>The same is true with many NFTs, as well. If the token is part of an exclusive collection, and there are only 10 NFTs that will ever be created within that collection, this makes it desirable for a lot of people - hence, the price goes up.</p>\n<p><strong>Social influence and renown</strong> are often huge factors, as well. Once again, think about the earlier-mentioned Jack Dorsey’s tweet NFT. Being one of the founders of Twitter, Jack Dorsey is a prominent figure in the business world - naturally, him selling an NFT of his very first tweet on the platform that he founded would draw a lot of attention and interest!</p>\n<p>Taking a step back, another reason why NFTs are as hyped up as they are is <strong>the utility factors. </strong>While most people assume that non-fungible tokens are merely used for collectible purposes, this isn’t necessarily true.</p>\n<p>Imagine if your favorite clothing store would issue a set of limited NFTs. In addition to being some cool images or GIFs that you can acquire, each NFT would provide the holder with lifetime access to set discounts when shopping within the store. This is a case for the utility aspect of an NFT - in other words, it creates tangible, real-world value for a non-fungible token.</p>\n<p>Combine this with the fact that there’s a limited number of NFTs available, and that all of them are auctioned off to the highest bidders, and this can result in some tokens possessing a huge price tag.</p>\n<p><em>So, let’s recap</em>. <strong>NFTs are valuable and sought-after</strong> because they are rare, might be created or owned by a famous or well-known individual, can provide tangible, real-world value, and are an innovation. The sum of these features leads to everyone, including their pets, having at least heard of NFTs, even if you know nothing else about the crypto space.</p>\n<p>Now, when you think about valuable NFTs today, the first names that would probably come to my mind are <strong>CryptoKitties, CryptoPunks, Decentraland, the Bored Ape Yacht Club, and Banksy.</strong> This is fair - many of these NFTs were the catalysts that drove the relatively niche industry into the mainstream.</p>\n<p>However, what was the very first NFT that was ever created? And when did this happen?</p>\n<p>Surprisingly, it’s not any one of the names mentioned earlier. Instead, the very first NFT - of the kind that we’re used to today, that is - was created all the way back in 2014, by a man named <strong>Kevin McCoy. </strong>The piece is called<strong> “Quantum”</strong> and is up for sale for <strong>over $7 million dollars.</strong></p>\n<p>So, while pop culture-relevant non-fungible tokens helped bring mainstream awareness to the market, and exploded the topic into unparalleled popularity, artists have been experimenting with the technology long before that.</p>\n<p>Finally, on the topic of experimenting with the technology, let’s now take a look at how YOU, - <em>yes, YOU</em> - <strong>can create an NFT of your own. </strong>Allow me to reassure you - while it may sound difficult from the sidelines, creating an NFT is actually very straightforward.</p>\n<p>First things first - you’re going to need a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">cryptocurrency wallet</a>. </strong>This will act as the storage area for your NFTs, and will also house the <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency needed to pay for the creation process of the token. Think of it this way - if an NFT is a car, then the cryptocurrency used to make it is gas. Without gas, the car is practically useless. Following this example, a crypto wallet would be like a garage for your car.</p>\n<p>The most popular wallet in this regard is called <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-metamask/">MetaMask. It’s free to use, and you can download and install it as a browser extension. Once you set it up, you’ll be able to start using the wallet almost instantly.</p>\n<p>Next up, you need to fund the wallet. This can be done by visiting an exchange platform and purchasing some cryptocurrency for <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money</a>.</strong> The currency that you’ll want to buy is known as <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ether (commonly referred to simply as Ethereum).</p>\n<p>Before we continue, though - why Ether? Well, the absolute <strong>majority of NFTs are created on the Ethereum blockchain.</strong> Thus, in order to pay for the creation process, you need to use the native currency of this particular blockchain - Ether.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-7.o.jpg/" alt=\"What are NFTs: how to create an NFT?\" width=\"1000\" height=\"650\" /></p>\n<p>Once you purchase Ether and transfer it from the exchange to your MetaMask wallet, you’re ready to go!</p>\n<p>Now, you will need to visit what’s known as <strong>an</strong> <strong>NFT marketplace</strong> where NFTs are auctioned. Just like eBay or Amazon for traditional goods, NFT marketplaces allow you to browse through different non-fungible tokens, and <strong>bid, purchase or sell the ones that you like.</strong> On that note, these marketplaces also allow you to create NFTs on them in a simple and efficient manner. For the sake of this example, I’ll reference the most popular NFT marketplaces out there - <strong>OpenSea and Rarible.</strong></p>\n<p>What you’ll need to do is <strong>connect your MetaMask wallet to OpenSea</strong> - this is like creating an account on the marketplace. Once you do so, you’ll be able to start the NFT creation process - OpenSea has a very detailed tutorial that guides you all through the process, and even if it’s your first time, you shouldn’t face any struggles whatsoever.</p>\n<p>Once you upload your picture or GIF and set all of the properties to your liking, all that you’ll need to do is create the NFT. Upon completion, your wallet address (the unique identification number of your personal cryptocurrency wallet) will <strong>forever be tied to the NFT,</strong> and no matter who owns it, you will always remain the verified creator of the asset in the blockchain log.</p>\n<p>Moving on, now that you’re equipped with the knowledge of how NFTs are created, buying a token will seem like a super-simple process.</p>\n<h2>How to Buy an NFT? </h2>\n<p>In order to buy an NFT, you will need to have the same MetaMask wallet connected to OpenSea, and that wallet will need to be funded with Ether, as well. It’s <strong>not possible to purchase NFTs with fiat money,</strong> and thus, it needs to be exchanged for crypto.</p>\n<p>With your wallet connected, you are now able to purchase your desired NFT (if it’s on sale) or bid on it at an auction. If you win, the token will be transferred to your wallet. That’s it - you’re a proud owner of a non-fungible token!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-8.o.jpg/" alt=\"What are NFTs: how to acquire an NFT?\" width=\"1000\" height=\"600\" /></p>\n<p>Make sure to keep your tokens secure, however - you could still store them in your MetaMask wallet, but if you want extra added security, you could also look into purchasing a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hardware-wallet/">hardware wallet</a></strong> (a physical crypto wallet device), and connecting it to your MetaMask.</p>\n<p>Now as a recap, we took a good, non-technical look at the essentials of NFTs. We’ve covered what they are and what they aren’t, talked about their value proposition, and also covered the questions of how to create and purchase your desired non-fungible tokens.</p>\n<p>Anyways, if you want to learn more about the MetaMask wallet, make sure to check out the section <strong>\"<a href=https://www.bitdegree.org/"/crypto/learn/what-is-metamask/">What is the MetaMask?</a>\".</strong></p>","meta_title":"What are NFTs? A Guide to Creating or Purchasing One","meta_description":"Can't find a clear and simple explanation about what are NFTs? Find an answer right here alongside a guide to creating or purchasing an NFT.","meta_keywords":"what is an nft, what are nfts, what is a nft, what is a nft, what is nft mean, what is nft stand for, are nfts worth it, what are nfts in crypto","order":1,"language":"en","created_at":"2022-05-02T06:07:35.000000Z","updated_at":"2023-05-16T11:44:33.000000Z","modified_content":"<p>Many people who have gotten into <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">NFTs will tell you that the learning curve is really confusing. Both crypto experts, and also traditional artists that have never heard about <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</a></strong> before are going to have completely different outlooks on what an NFT is, and what it can be used for.</p>\n<p>Personally, I believe that everyone should have at least a fundamental understanding of NFTs since they are becoming increasingly more popular by the day. Understanding the concept will surely help you clearly see what NFTs are and why they are so valuable.</p>\n<p>In this section, we’re going to take a good look at NFTs - specifically, what they are, where they come from, why they are so expensive, and how you can purchase or even create them yourself. And don’t worry - we’ll avoid any and all technical jargon, and only introduce industry terms when they’re absolutely essential to the context of the section. </p>\n<p><em>So, let’s dive in!</em></p>\n<p>An “NFT” is a “<strong>non-fungible token</strong>”. “Non-fungible” is a fancy way of saying that something is completely unique, and cannot be replaced with something else.</p>\n<p>For example, think of your car (of course, if you have one) - sure, there are other cars out there that are probably just like yours, but they’ll have different mileage, different tires, engines, personal interior gadgets, various dings & dents, or even those stupid stickers on the trunk. All of these things make your car UNIQUE - there’s only ONE car purely like THAT!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-1.o.jpg/" alt=\"What are NFTs: "Non-Fungible Token" definition.\" width=\"1000\" height=\"550\" /></p>\n<p>So, before we continue, an example of a “<strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fungible/">fungible” asset would be the <strong>value of a $1 bill</strong>. This is because the value of your $1 will always be equal to the value of another $1 bill, and you can trade your $1 for any other $1 bill out there - something you wouldn’t be able to do with your car.</p>\n<p>Following that, a token is simply a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-digital-asset/">digital asset</a></strong>. </p>\n<p>Rather, tokens are used as <strong>representations of different asset kinds</strong>. Obviously, you can’t physically take your car and just put it into the internet, as you put it into your garage. That's why you need some sort of digital representation tool! And this is where tokens come in. </p>\n<p>So, if you have a car, you could create a token to represent that car on the internet, as a physical object. Although there’s much more to it, in this context, you can think of it as a digitalized version of a physical item.</p>\n<p>Moving on and continuing with that car example, let’s imagine you have taken a picture of your car, and later created a digital token for it - this would be the NFT of your car! It’s “non-fungible” since it’s unique, and it’s a token since it’s not the actual car, but rather, <strong>a digital representation</strong> of it!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-2.o.jpg/" alt=\"What are NFTs: transforming a physical object into an NFT.\" width=\"1000\" height=\"550\" /></p>\n<p>Most people associate the term NFT with trading cards, digital artwork, or in-game items and characters. It’s important to understand that the NFTs themselves aren’t the actual assets, but rather, representations of those assets on the blockchain.</p>\n<p>Now, <strong>blockchains are essentially data storage locations</strong> - <em>virtual databases, if you will</em>. If you were to create a unique token - an NFT - on a blockchain, it would receive <strong>a special code,</strong> which would be used to identify it in the future. Since blockchains are (mostly) public, everyone would be able to see that the token was both created by you and that it’s the original - not a copy-pasted version made by your friend or a random guy on the internet.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-3.o.jpg/" alt=\"What are NFTs: Blockchain and NFTs.\" width=\"1000\" height=\"800\" /></p>\n<p><em>Heh, that’s a lot to wrap your head around, I’ll admit. </em>But don’t worry - it gets easier from here.</p>\n<p>Let me give you another example by referencing <strong>Twitter former CEO’s Jack Dorsey’s tweet. </strong>Dorsey created an NFT out of his first-ever tweet and auctioned it off for <strong>over $2,9 million.</strong></p>\n<p>Is the tweet available for everyone to see? Yes. However, the creator-signed NFT version of the tweet belongs solely to the individual who won the auction - this is very simple to prove with the help of the blockchain.</p>\n<p>When viewed on the blockchain, NFTs are simply <strong>strings of data. </strong>This textual data references an image, a GIF, or any other asset that can be viewed on the <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/best-cryptocurrency-exchange/">exchange platforms</a></strong> where the NFT is located on. Thus, when you purchase an NFT, you actually purchase that referential data.</p>\n<p>Now, this point is crucial to understand - if you own an NFT, it actually means that <strong>you own only that data.</strong> Not an image, nor a GIF, nor some sort of a virtual character - instead, you own the data that references the aforementioned assets. This data is encoded on the blockchain and references the place where the asset (picture, GIF, etc.) is located (the server).</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-4.o.jpg/" alt=\"What are NFTs: how NFTs work.\" width=\"1000\" height=\"550\" /></p>\n<p>Theoretically, the marketplace platform could swap out the image on their servers, and your data would point to a different picture of GIF than the one you’ve bought! Also, the image can simply be deleted from the server - your data on the blockchain, on the other hand, can not.</p>\n<p>Personally, this idea always bothered me the most, when it comes to NFTs. However, when you understand that you don’t own the actual image, but rather, the data on the blockchain, things start making much more sense.</p>\n<p>So, why do people buy NFTs, and why are some NFTs priced as high as they are? I mean, the earlier-mentioned Jack Dorsey’s tweet is a good reference here as well as some of the image collections from the popular NFT creators like <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptopunks/">CryptoPunks or <strong><a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Bored_Ape/" target=\"_blank\" rel=\"nofollow noindex noopener\">Bored Ape</a></strong>.</p>\n<p>Well, there are actually a few things that lead to NFTs being as desirable as they are.</p>\n<p>For starters, they are <strong>a true innovation</strong> in the first place, and as most have heard, also an easy way to invest and get some profits. NFTs are the first phenomenon of this kind, and people still don’t really know what to make of them. Should they purely become a future art? Maybe the gaming industry could benefit most from them? Is there any utility for an NFT?</p>\n<p>These questions showcase that NFTs are still very new, and people are attracted to innovations that may potentially prove to be a good investment.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-5.o.jpg/" alt=\"What are NFTs: why do people buy expensive NFTs?\" width=\"1000\" height=\"650\" /></p>\n<p>This is actually the second big reason behind their popularity - the speculated value of what NFTs will be worth in the future. Some people compare NFTs to tech stocks back in the late 90s and the early 2000s. When the internet was still very young, people had no way of telling how much Amazon or Google stocks would be worth in a couple of decades.</p>\n<p>Nowadays, though, you have some NFTs being sold for huge amounts of money. For example, one of the most expensive NFTs ever sold is Beeple’s <strong>“EVERYDAY: THE FIRST 5000 DAYS”</strong> - it was sold for <strong>over $69,3 million.</strong> Following that, Beeple’s “One” was sold for $28,9 million. Some CryptoPunks have also been sold for anywhere from almost $8 million to over $10 million.</p>\n<p>The parallel here is that NFTs are still <strong>a very new concept,</strong> and a volatile market to be entering. It’s like a carnival - everything’s shiny and colorful, you never really know what sort of cool attraction lies around the corner, and every once in a while, you may find yourself on a rollercoaster ride - the last part is true for many NFT prices.</p>\n<p>This brings me to my next point - the reason why some NFTs are priced as high as they are. The answer here is actually very boring and simple - it’s a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-supply-and-demand/">supply & demand</a></strong> type of deal.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-6.o.jpg/" alt=\"What are NFTs: why are NFTs so expensive?\" width=\"1000\" height=\"580\" /></p>\n<p>Imagine that you have a very rare painting. You decide to auction it off on eBay, without setting a minimum bid. Sure, someone may come around and offer a couple of dollars for the painting.</p>\n<p>However, since it’s so rare, it’s highly likely to attract a lot of attention from art fans. This results in huge demand for something that’s very scarce - in other words, something that has <strong>a limited supply. </strong>This makes the price of the asset go up, exponentially.</p>\n<p>The same is true with many NFTs, as well. If the token is part of an exclusive collection, and there are only 10 NFTs that will ever be created within that collection, this makes it desirable for a lot of people - hence, the price goes up.</p>\n<p><strong>Social influence and renown</strong> are often huge factors, as well. Once again, think about the earlier-mentioned Jack Dorsey’s tweet NFT. Being one of the founders of Twitter, Jack Dorsey is a prominent figure in the business world - naturally, him selling an NFT of his very first tweet on the platform that he founded would draw a lot of attention and interest!</p>\n<p>Taking a step back, another reason why NFTs are as hyped up as they are is <strong>the utility factors. </strong>While most people assume that non-fungible tokens are merely used for collectible purposes, this isn’t necessarily true.</p>\n<p>Imagine if your favorite clothing store would issue a set of limited NFTs. In addition to being some cool images or GIFs that you can acquire, each NFT would provide the holder with lifetime access to set discounts when shopping within the store. This is a case for the utility aspect of an NFT - in other words, it creates tangible, real-world value for a non-fungible token.</p>\n<p>Combine this with the fact that there’s a limited number of NFTs available, and that all of them are auctioned off to the highest bidders, and this can result in some tokens possessing a huge price tag.</p>\n<p><em>So, let’s recap</em>. <strong>NFTs are valuable and sought-after</strong> because they are rare, might be created or owned by a famous or well-known individual, can provide tangible, real-world value, and are an innovation. The sum of these features leads to everyone, including their pets, having at least heard of NFTs, even if you know nothing else about the crypto space.</p>\n<p>Now, when you think about valuable NFTs today, the first names that would probably come to my mind are <strong>CryptoKitties, CryptoPunks, Decentraland, the Bored Ape Yacht Club, and Banksy.</strong> This is fair - many of these NFTs were the catalysts that drove the relatively niche industry into the mainstream.</p>\n<p>However, what was the very first NFT that was ever created? And when did this happen?</p>\n<p>Surprisingly, it’s not any one of the names mentioned earlier. Instead, the very first NFT - of the kind that we’re used to today, that is - was created all the way back in 2014, by a man named <strong>Kevin McCoy. </strong>The piece is called<strong> “Quantum”</strong> and is up for sale for <strong>over $7 million dollars.</strong></p>\n<p>So, while pop culture-relevant non-fungible tokens helped bring mainstream awareness to the market, and exploded the topic into unparalleled popularity, artists have been experimenting with the technology long before that.</p>\n<p>Finally, on the topic of experimenting with the technology, let’s now take a look at how YOU, - <em>yes, YOU</em> - <strong>can create an NFT of your own. </strong>Allow me to reassure you - while it may sound difficult from the sidelines, creating an NFT is actually very straightforward.</p>\n<p>First things first - you’re going to need a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">cryptocurrency wallet</a>. </strong>This will act as the storage area for your NFTs, and will also house the <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency needed to pay for the creation process of the token. Think of it this way - if an NFT is a car, then the cryptocurrency used to make it is gas. Without gas, the car is practically useless. Following this example, a crypto wallet would be like a garage for your car.</p>\n<p>The most popular wallet in this regard is called <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-metamask/">MetaMask. It’s free to use, and you can download and install it as a browser extension. Once you set it up, you’ll be able to start using the wallet almost instantly.</p>\n<p>Next up, you need to fund the wallet. This can be done by visiting an exchange platform and purchasing some cryptocurrency for <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money</a>.</strong> The currency that you’ll want to buy is known as <strong><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ether (commonly referred to simply as Ethereum).</p>\n<p>Before we continue, though - why Ether? Well, the absolute <strong>majority of NFTs are created on the Ethereum blockchain.</strong> Thus, in order to pay for the creation process, you need to use the native currency of this particular blockchain - Ether.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-7.o.jpg/" alt=\"What are NFTs: how to create an NFT?\" width=\"1000\" height=\"650\" /></p>\n<p>Once you purchase Ether and transfer it from the exchange to your MetaMask wallet, you’re ready to go!</p>\n<p>Now, you will need to visit what’s known as <strong>an</strong> <strong>NFT marketplace</strong> where NFTs are auctioned. Just like eBay or Amazon for traditional goods, NFT marketplaces allow you to browse through different non-fungible tokens, and <strong>bid, purchase or sell the ones that you like.</strong> On that note, these marketplaces also allow you to create NFTs on them in a simple and efficient manner. For the sake of this example, I’ll reference the most popular NFT marketplaces out there - <strong>OpenSea and Rarible.</strong></p>\n<p>What you’ll need to do is <strong>connect your MetaMask wallet to OpenSea</strong> - this is like creating an account on the marketplace. Once you do so, you’ll be able to start the NFT creation process - OpenSea has a very detailed tutorial that guides you all through the process, and even if it’s your first time, you shouldn’t face any struggles whatsoever.</p>\n<p>Once you upload your picture or GIF and set all of the properties to your liking, all that you’ll need to do is create the NFT. Upon completion, your wallet address (the unique identification number of your personal cryptocurrency wallet) will <strong>forever be tied to the NFT,</strong> and no matter who owns it, you will always remain the verified creator of the asset in the blockchain log.</p>\n<p>Moving on, now that you’re equipped with the knowledge of how NFTs are created, buying a token will seem like a super-simple process.</p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 comparison-suggestion pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif/"/n alt=\"What is an NFT? (Explained with Animations)\"\n title=\"What is an NFT? (Explained with Animations)\" class=\"border-0\">\n <p>Video Explainer</p>\n </div>\n </div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: What are Non-Fungible Tokens (NFTs)?</h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"What are Non-Fungible Tokens (NFTs)?\" video explainer</p>\n </div>\n </div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"YL0-sEzDDNI\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"></div>\n <p class=\"text-left dyk-video-title\">What is an NFT? (Explained with Animations)</p>\n <img src=https://www.bitdegree.org/"https://i.ytimg.com/vi/YL0-sEzDDNI/hq720.jpg/"/n alt=\"What is an NFT? (Explained with Animations)\"\n title=\"What is an NFT? (Explained with Animations)\"\n class=\"p-0\">\n <img class=\"play-button\" data-target=\"#video-modal\"\n src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/video-button.png/"/n alt=\"What is an NFT? (Explained with Animations)\">\n </div>\n </div>\n </div>\n </div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"></i>\n </div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE</h4>\n <span>ON YOUTUBE</span>\n </div>\n </div>\n </a>\n </div>\n </div>\n </div>\n </div>\n</div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\" aria-labelledby=\"YL0-sEzDDNI\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"></i>\n </button>\n <div id=\"iframe\"></div>\n </div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/crypto-subscribe.jpg/" alt=\"Subscribe\">\n </div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE</span>\n </p>\n </div>\n </div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease</h4>\n <span>New explainer videos every week!</span>\n </div>\n </div>\n </div>\n </div>\n </a>\n </div>\n </div>\n</div>\n<h2>How to Buy an NFT? </h2>\n<p>In order to buy an NFT, you will need to have the same MetaMask wallet connected to OpenSea, and that wallet will need to be funded with Ether, as well. It’s <strong>not possible to purchase NFTs with fiat money,</strong> and thus, it needs to be exchanged for crypto.</p>\n<p>With your wallet connected, you are now able to purchase your desired NFT (if it’s on sale) or bid on it at an auction. If you win, the token will be transferred to your wallet. That’s it - you’re a proud owner of a non-fungible token!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts-8.o.jpg/" alt=\"What are NFTs: how to acquire an NFT?\" width=\"1000\" height=\"600\" /></p>\n<p>Make sure to keep your tokens secure, however - you could still store them in your MetaMask wallet, but if you want extra added security, you could also look into purchasing a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hardware-wallet/">hardware wallet</a></strong> (a physical crypto wallet device), and connecting it to your MetaMask.</p>\n<p>Now as a recap, we took a good, non-technical look at the essentials of NFTs. We’ve covered what they are and what they aren’t, talked about their value proposition, and also covered the questions of how to create and purchase your desired non-fungible tokens.</p>\n<p>Anyways, if you want to learn more about the MetaMask wallet, make sure to check out the section <strong>\"<a href=https://www.bitdegree.org/"/crypto/learn/what-is-metamask/">What is the MetaMask?</a>\".</strong></p>","preview_url":"https://www.bitdegree.org/crypto/learn/what-are-nfts","youtube_video":{"id":11,"channel_id":1,"sort":61,"video_title":"What is an NFT? (Explained with Animations)","description":"What is an NFT?\n\nAn NFT is a non-fungible token - a representation of digital or physical assets on the blockchain. Popular for many reasons, from a sense of exclusivity to investment, NFTs are often thought to be the future of financial technology and art! \n\nNFTs have really taken the world by storm over the past few years, but to some they are still as mysterious as ever. In this video, I’ll explain to you what an NFT is and what you need to know about it in a simple way. Without using any crypto jargon, I’ll give you simple examples and analogies to make you understand how NFTs are made, how they work, and what they have become in our modern world!\n\nHave you ever created, bought, or sold NFTs before? Share your experience in the comments below!\n\nVideo Time Table:\n\n0:00 What is an NFT?\n1:12 What Are NFTs?\n2:49 Blockchain And NFTs\n3:37 Example of an NFT - a Tweet\n4:00 What Do You Actually Buy?\n5:13 Why Do People Buy NFTs?\n7:07 Why Are NFTs So Expensive?\n9:07 How Are NFTs Made?\n10:00 How Can YOU Make an NFT?\n12:33 How To buy an NFT?\n13:19 Wrap-up: What is an NFT?\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps://twitter.com/crypto_xplained\n\n#WhatIsAnNFT #WhatAreNFTs #GuideToNFTs #NFT #NFTs #NFTs2022 #Crypto #Tokens #Blockchain","video_id":"YL0-sEzDDNI","duration":826,"view_count":16851,"thumbnail_url":"https://i.ytimg.com/vi/YL0-sEzDDNI/hq720.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2022-01-20 15:06:18","created_at":"2022-02-21T13:20:28.000000Z","updated_at":"2023-05-21T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}}},"chapterTitle":"NFTs","cryptoBookSection":{"id":425,"featured_image_id":9454,"original_id":null,"youtube_video_id":137,"author_id":42,"translator_id":null,"chapter_id":5,"title":"NFT Trading: The Ins and Outs","slug":"how-to-trade-nfts","definition":"Did you know that each NFT is totally unique, making you the only person in the entire world to possess it?","status":"published","content":"<p>In this section, I’m going to tell you <strong>how to trade NFTs on <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/opensea/" target=\"_blank\" rel=\"nofollow noindex noopener\">OpenSea</a></strong>, in the simplest way possible!</p>\n<p>NFTs are undeniably a huge part of the crypto space. While their popularity is very volatile, there are new projects coming out within the space, seemingly every day, still! Many crypto enthusiasts will tell you that non-fungible tokens are still a great way to make money with crypto!</p>\n<p>You’ve heard about NFTs, love the idea behind them, and are now eager to make money this way, too. However, you’re new to crypto, and have no idea where to even start. If that’s the case - don’t fret, since that’s what I’m here to help you with!</p>\n<p><strong>In this section, we’re going to talk about NFT trading</strong>. Specifically, I’ll tell you about all of the prerequisites that you need to keep in mind before you actually start trading, as well as walk you through the process of performing your very first NFT trade, too!</p>\n<p><em>Let’s get to it!</em></p>\n<h2>Before You Start</h2>\n<p>Now, while jumping into NFT trading can be a super-exciting prospect, you need to contain your excitement a tad bit longer, while we talk about a few prerequisites that you’ll need to sort out. After all, if you want to maximize your chances of success in trading NFTs, you need to come in with your homework prepared!</p>\n<p><strong>The very first thing that you’ll need to do is create a hot cryptocurrency wallet</strong>. You will use this wallet to store your NFTs, as well as perform all of the transactions in the future. If you decide to study how to make NFTs to sell, this wallet will be needed, as well!</p>\n<p>There are plenty of different wallets that you can pick, but I’d personally go with <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/metamask/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>MetaMask</strong></a>. You can read <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/what-is-metamask/">a dedicated section</strong></a> for this particular wallet, but in short, it’s one of the most popular Ethereum and ERC token wallets on the market, and it’ll make Ethereum-based NFT storage a breeze.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Selling/buying.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_01.jpg/" alt=\"How to trade NFTs: Selling/buying.\" width=\"1000\" height=\"541\" /></p>\n<p>Moving on, the next big thing that you need to take care of is the actual crypto that you’ll use to purchase your initial NFTs. In other words, if you’re starting completely fresh, and don’t have any assets to your name, <strong>you’ll need to buy some cryptocurrency</strong> (specifically - <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ether) in order to then trade it for your very first NFT. Some marketplaces support credit and debit cards, but if you want complete privacy and anonymity, you’ll need to stick to the crypto route.</p>\n<p>This process can sound really intimidating, but let me assure you - it’s really nothing to be worried about! These days, popular cryptocurrency exchange platforms are extremely good at onboarding newbies, and guiding them through their initial purchases. With the best-known exchanges, such as <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance</strong></a> or <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/kraken/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Kraken</strong></a>, you’ll be able to register and buy crypto with a credit or debit card in no time!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Buying some crypto.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_02.jpg/" alt=\"How to trade NFTs: Buying some crypto.\" width=\"1000\" height=\"551\" /></p>\n<p>If you’d like to check out a more thorough explanation of how to buy cryptocurrency for the very first time, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/how-to-buy-crypto/">read this section</strong></a> – it covers the process in-depth. Granted that this section is about how to buy and sell NFTs for profit, I’ll assume that you already have your wallet ready, and with some crypto transferred to it, too.</p>\n<p>The final point of preparation has to do with <strong>choosing the best NFT marketplace</strong>, where you’d perform all of your trades on. Admittedly, the variety of available options is getting bigger, by the day, but if you want to err on the side of caution, your best bet would still be using <strong>OpenSea</strong>. It’s considered by many to be the best NFT marketplace out there, offering its users access to an unprecedented number of different non-fungible tokens, and a way of how to trade NFTs safely.</p>\n<h2>Making Your First Trade</h2>\n<p>So - with all of the big preparation steps out of the way, you are finally ready to learn how to trade NFTs! But a single question remains - <strong>what NFT should you buy, as your very first one?</strong></p>\n<p>Now, truth be told, this is a discussion for the ages. Everyone is going to have their own opinions about which non-fungible tokens are <em>“worth it”</em>, and which will tank, price-wise.</p>\n<p>Depending on when it is that you’re reading this section, the NFT boom might be at its peak, or we might currently be in an “NFT winter”. This is a huge factor to consider, as well - as history has shown, many NFTs tend to lose a lot of their initial value, when the bear market comes!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Find a worthy NFT.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_03.jpg/" alt=\"How to trade NFTs: Find a worthy NFT.\" width=\"1000\" height=\"537\" /></p>\n<p><strong>Your best bet would be to set up a price range, and then look for an NFT project that has some sort of backing behind it</strong>. This can be anything - a collection of paintings with free tickets to a concert, each, a piece of digital artwork from a band, containing a link to their new, Metaverse-exclusive album, photos of cars from a famous car brand, each coming with exclusive benefits to the holder, and so on.</p>\n<p>No one can say for sure, which projects will blow up, and which will tank in price! However, if you follow the market trends, and educate yourself about the industry, as a whole, you could catch some hidden gems, every once in a while!</p>\n<p>Let’s say that you’ve found that one, single NFT that you absolutely love, and think that it’s going to appreciate in price, as time goes on. <strong>How do you get it into your digital wallet?</strong></p>\n<p>Well, if you’re using OpenSea and MetaMask, this process is going to be super simple.</p>\n<p>First, you need to<strong> connect your wallet to OpenSea</strong>. This can be done at the top-right corner of the screen, on the OpenSea homepage - simply choose to connect via MetaMask, pass a few verifications, and you’re in!</p>\n<p>Next, you’ll need to <strong>find the NFT that you’ve picked, and either add it to your basket, or buy it instantly</strong>. When you navigate to your basket, you’ll be able to view all of the necessary details to complete your transaction - creator fees, payment types, total price, and so on.</p>\n<p>If everything seems to be in order, you can complete your payment - if you’re using crypto, and have enough coins in your wallet, you’ll receive a few transaction confirmations, and in a few seconds, your MetaMask wallet will be credited with your newly-acquired non-fungible token. Congratulations on your new purchase!</p>\n<h2>Trading Your NFTs</h2>\n<p>Now that you’ve dipped your toes into the world of NFT ownership, you can finally start trading these assets. There are multiple ways of how you can approach the topic, as well!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Trading it for tokens or other NFTs.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_04.jpg/" alt=\"How to trade NFTs: Trading it for tokens or other NFTs.\" width=\"1000\" height=\"446\" /></p>\n<p>Think of it like trading candy. You could sell the candy at a physical store, online, or trade it for some other goods, as well. NFTs aren’t any different, in that regard!</p>\n<p>The simplest way of how to trade NFTs is to<strong> sell your current NFT for a profit, and purchase another token (or, even, tokens!) in its place</strong>. While it’s not technically<em> “trading”</em>, per se, you are still exchanging NFTs, albeit indirectly.</p>\n<p>The best part? This can be done on the same marketplace that you’ve bought your original NFT on. Meaning, you don’t need to over-encumber yourself with the management of a huge list of different trading platforms.</p>\n<p>Alternatively, you could participate in <em>actual</em> NFT trading, as well - in other words, <strong>you could exchange your NFT for another one, in a mutually agreed-upon trade with another person</strong>.</p>\n<p>Is this something I’d recommend doing? Well, not really, no. These types of trades involve a lot of trust, and are usually very complex when it comes to determining whether or not they’re actually beneficial. <strong>For the most part, I’d stick to the time-tested buying and selling processes!</strong></p>\n<p>The one piece of good news, however, is that there seems to be an influx of marketplaces that make trading NFTs much simpler. These platforms act as middlemen, and facilitate a trade between two parties - you, and another person that you’re trading with. So, it’s definitely something worth keeping in mind, if you do decide to go the trading route!</p>\n<h2>Extra Safety for Your NFTs</h2>\n<p>Now that you know how to buy and sell NFTs for profit, and are ready to jump into this exciting realm, there’s one more point that I’d like to stress.</p>\n<p>Above in this section, I've mentioned MetaMask, and how it’s the best wallet to use for all of your NFT trading ventures. While that is true, convenience-wise, <strong>MetaMask is still considered to be a hot wallet - one that maintains a constant connection to the internet</strong>.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Extra safety for your NFTs.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_05.jpg/" alt=\"How to trade NFTs: Extra safety for your NFTs.\" width=\"1000\" height=\"749\" /></p>\n<p>Assuming that you’ll find success in your non-fungible token trading ventures, and grow your portfolio, eventually, you might start worrying about the safety of your assets. While MetaMask has a decent reputation, security-wise, there’s still a lot of room for improvement - this is where <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-hardware-wallet/">hardware wallets</strong></a> come in.</p>\n<p>Hardware wallets are often considered to be among the safest crypto storage options in the industry. Combine that with the fact that you can actually connect your MetaMask wallet with one of the most popular hardware storage devices on the market - <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/ledger/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>the Ledger wallet</strong></a> -, and you have yourself a pretty strong case for security and asset protection!</p>\n<p>That's about it, for now. I leave you with the knowledge of both how to trade NFTs, for the very first time, as well as concerning all of the prerequisites that you need to be aware of before you can actually start trading.</p>","meta_title":"How to Trade NFTs? The Key Things You Need to Know","meta_description":"You have non-fungible tokens and now the main question in your head is \"How to trade NFTs?\" Don't worry, you'll find all answers right here.","meta_keywords":"how to trade nfts, how to trade nfts on opensea, how to trade nfts safely, how to sell nfts for free, how to buy and sell nfts for profit, how to sell nfts without gas fees, how do you make nfts to sell","order":2,"language":"en","created_at":"2023-01-17T13:42:49.000000Z","updated_at":"2023-02-27T12:07:39.000000Z","modified_content":"<p>In this section, I’m going to tell you <strong>how to trade NFTs on <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/opensea/" target=\"_blank\" rel=\"nofollow noindex noopener\">OpenSea</a></strong>, in the simplest way possible!</p>\n<p>NFTs are undeniably a huge part of the crypto space. While their popularity is very volatile, there are new projects coming out within the space, seemingly every day, still! Many crypto enthusiasts will tell you that non-fungible tokens are still a great way to make money with crypto!</p>\n<p>You’ve heard about NFTs, love the idea behind them, and are now eager to make money this way, too. However, you’re new to crypto, and have no idea where to even start. If that’s the case - don’t fret, since that’s what I’m here to help you with!</p>\n<p><strong>In this section, we’re going to talk about NFT trading</strong>. Specifically, I’ll tell you about all of the prerequisites that you need to keep in mind before you actually start trading, as well as walk you through the process of performing your very first NFT trade, too!</p>\n<p><em>Let’s get to it!</em></p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 comparison-suggestion pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/images/compare-crypto-exchanges.gif/"/n alt=\"How to Trade NFTs Safely? (Animated Explainer For Beginners)\"\n title=\"How to Trade NFTs Safely? (Animated Explainer For Beginners)\" class=\"border-0\">\n <p>Video Explainer</p>\n </div>\n </div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: NFT Trading: The Ins and Outs</h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"NFT Trading: The Ins and Outs\" video explainer</p>\n </div>\n </div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"zxx-yQr9YpU\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"></div>\n <p class=\"text-left dyk-video-title\">How to Trade NFTs Safely? (Animated Explainer For Beginners)</p>\n <img src=https://www.bitdegree.org/"https://i.ytimg.com/vi/zxx-yQr9YpU/hq720.jpg/"/n alt=\"How to Trade NFTs Safely? (Animated Explainer For Beginners)\"\n title=\"How to Trade NFTs Safely? (Animated Explainer For Beginners)\"\n class=\"p-0\">\n <img class=\"play-button\" data-target=\"#video-modal\"\n src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/video-button.png/"/n alt=\"How to Trade NFTs Safely? (Animated Explainer For Beginners)\">\n </div>\n </div>\n </div>\n </div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"></i>\n </div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE</h4>\n <span>ON YOUTUBE</span>\n </div>\n </div>\n </a>\n </div>\n </div>\n </div>\n </div>\n</div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\" aria-labelledby=\"zxx-yQr9YpU\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"></i>\n </button>\n <div id=\"iframe\"></div>\n </div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https://www.youtube.com/c/CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/assets/crypto-subscribe.jpg/" alt=\"Subscribe\">\n </div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE</span>\n </p>\n </div>\n </div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease</h4>\n <span>New explainer videos every week!</span>\n </div>\n </div>\n </div>\n </div>\n </a>\n </div>\n </div>\n</div>\n<h2>Before You Start</h2>\n<p>Now, while jumping into NFT trading can be a super-exciting prospect, you need to contain your excitement a tad bit longer, while we talk about a few prerequisites that you’ll need to sort out. After all, if you want to maximize your chances of success in trading NFTs, you need to come in with your homework prepared!</p>\n<p><strong>The very first thing that you’ll need to do is create a hot cryptocurrency wallet</strong>. You will use this wallet to store your NFTs, as well as perform all of the transactions in the future. If you decide to study how to make NFTs to sell, this wallet will be needed, as well!</p>\n<p>There are plenty of different wallets that you can pick, but I’d personally go with <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/metamask/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>MetaMask</strong></a>. You can read <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/what-is-metamask/">a dedicated section</strong></a> for this particular wallet, but in short, it’s one of the most popular Ethereum and ERC token wallets on the market, and it’ll make Ethereum-based NFT storage a breeze.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Selling/buying.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_01.jpg/" alt=\"How to trade NFTs: Selling/buying.\" width=\"1000\" height=\"541\" /></p>\n<p>Moving on, the next big thing that you need to take care of is the actual crypto that you’ll use to purchase your initial NFTs. In other words, if you’re starting completely fresh, and don’t have any assets to your name, <strong>you’ll need to buy some cryptocurrency</strong> (specifically - <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ether) in order to then trade it for your very first NFT. Some marketplaces support credit and debit cards, but if you want complete privacy and anonymity, you’ll need to stick to the crypto route.</p>\n<p>This process can sound really intimidating, but let me assure you - it’s really nothing to be worried about! These days, popular cryptocurrency exchange platforms are extremely good at onboarding newbies, and guiding them through their initial purchases. With the best-known exchanges, such as <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance</strong></a> or <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/kraken/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Kraken</strong></a>, you’ll be able to register and buy crypto with a credit or debit card in no time!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Buying some crypto.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_02.jpg/" alt=\"How to trade NFTs: Buying some crypto.\" width=\"1000\" height=\"551\" /></p>\n<p>If you’d like to check out a more thorough explanation of how to buy cryptocurrency for the very first time, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/how-to-buy-crypto/">read this section</strong></a> – it covers the process in-depth. Granted that this section is about how to buy and sell NFTs for profit, I’ll assume that you already have your wallet ready, and with some crypto transferred to it, too.</p>\n<p>The final point of preparation has to do with <strong>choosing the best NFT marketplace</strong>, where you’d perform all of your trades on. Admittedly, the variety of available options is getting bigger, by the day, but if you want to err on the side of caution, your best bet would still be using <strong>OpenSea</strong>. It’s considered by many to be the best NFT marketplace out there, offering its users access to an unprecedented number of different non-fungible tokens, and a way of how to trade NFTs safely.</p>\n<h2>Making Your First Trade</h2>\n<p>So - with all of the big preparation steps out of the way, you are finally ready to learn how to trade NFTs! But a single question remains - <strong>what NFT should you buy, as your very first one?</strong></p>\n<p>Now, truth be told, this is a discussion for the ages. Everyone is going to have their own opinions about which non-fungible tokens are <em>“worth it”</em>, and which will tank, price-wise.</p>\n<p>Depending on when it is that you’re reading this section, the NFT boom might be at its peak, or we might currently be in an “NFT winter”. This is a huge factor to consider, as well - as history has shown, many NFTs tend to lose a lot of their initial value, when the bear market comes!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Find a worthy NFT.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_03.jpg/" alt=\"How to trade NFTs: Find a worthy NFT.\" width=\"1000\" height=\"537\" /></p>\n<p><strong>Your best bet would be to set up a price range, and then look for an NFT project that has some sort of backing behind it</strong>. This can be anything - a collection of paintings with free tickets to a concert, each, a piece of digital artwork from a band, containing a link to their new, Metaverse-exclusive album, photos of cars from a famous car brand, each coming with exclusive benefits to the holder, and so on.</p>\n<p>No one can say for sure, which projects will blow up, and which will tank in price! However, if you follow the market trends, and educate yourself about the industry, as a whole, you could catch some hidden gems, every once in a while!</p>\n<p>Let’s say that you’ve found that one, single NFT that you absolutely love, and think that it’s going to appreciate in price, as time goes on. <strong>How do you get it into your digital wallet?</strong></p>\n<p>Well, if you’re using OpenSea and MetaMask, this process is going to be super simple.</p>\n<p>First, you need to<strong> connect your wallet to OpenSea</strong>. This can be done at the top-right corner of the screen, on the OpenSea homepage - simply choose to connect via MetaMask, pass a few verifications, and you’re in!</p>\n<p>Next, you’ll need to <strong>find the NFT that you’ve picked, and either add it to your basket, or buy it instantly</strong>. When you navigate to your basket, you’ll be able to view all of the necessary details to complete your transaction - creator fees, payment types, total price, and so on.</p>\n<p>If everything seems to be in order, you can complete your payment - if you’re using crypto, and have enough coins in your wallet, you’ll receive a few transaction confirmations, and in a few seconds, your MetaMask wallet will be credited with your newly-acquired non-fungible token. Congratulations on your new purchase!</p>\n<h2>Trading Your NFTs</h2>\n<p>Now that you’ve dipped your toes into the world of NFT ownership, you can finally start trading these assets. There are multiple ways of how you can approach the topic, as well!</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Trading it for tokens or other NFTs.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_04.jpg/" alt=\"How to trade NFTs: Trading it for tokens or other NFTs.\" width=\"1000\" height=\"446\" /></p>\n<p>Think of it like trading candy. You could sell the candy at a physical store, online, or trade it for some other goods, as well. NFTs aren’t any different, in that regard!</p>\n<p>The simplest way of how to trade NFTs is to<strong> sell your current NFT for a profit, and purchase another token (or, even, tokens!) in its place</strong>. While it’s not technically<em> “trading”</em>, per se, you are still exchanging NFTs, albeit indirectly.</p>\n<p>The best part? This can be done on the same marketplace that you’ve bought your original NFT on. Meaning, you don’t need to over-encumber yourself with the management of a huge list of different trading platforms.</p>\n<p>Alternatively, you could participate in <em>actual</em> NFT trading, as well - in other words, <strong>you could exchange your NFT for another one, in a mutually agreed-upon trade with another person</strong>.</p>\n<p>Is this something I’d recommend doing? Well, not really, no. These types of trades involve a lot of trust, and are usually very complex when it comes to determining whether or not they’re actually beneficial. <strong>For the most part, I’d stick to the time-tested buying and selling processes!</strong></p>\n<p>The one piece of good news, however, is that there seems to be an influx of marketplaces that make trading NFTs much simpler. These platforms act as middlemen, and facilitate a trade between two parties - you, and another person that you’re trading with. So, it’s definitely something worth keeping in mind, if you do decide to go the trading route!</p>\n<h2>Extra Safety for Your NFTs</h2>\n<p>Now that you know how to buy and sell NFTs for profit, and are ready to jump into this exciting realm, there’s one more point that I’d like to stress.</p>\n<p>Above in this section, I've mentioned MetaMask, and how it’s the best wallet to use for all of your NFT trading ventures. While that is true, convenience-wise, <strong>MetaMask is still considered to be a hot wallet - one that maintains a constant connection to the internet</strong>.</p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to trade NFTs: Extra safety for your NFTs.\" src=https://www.bitdegree.org/"https://assets.bitdegree.org/crypto/storage/optimized/hot_to_trade_nfts_05.jpg/" alt=\"How to trade NFTs: Extra safety for your NFTs.\" width=\"1000\" height=\"749\" /></p>\n<p>Assuming that you’ll find success in your non-fungible token trading ventures, and grow your portfolio, eventually, you might start worrying about the safety of your assets. While MetaMask has a decent reputation, security-wise, there’s still a lot of room for improvement - this is where <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-hardware-wallet/">hardware wallets</strong></a> come in.</p>\n<p>Hardware wallets are often considered to be among the safest crypto storage options in the industry. Combine that with the fact that you can actually connect your MetaMask wallet with one of the most popular hardware storage devices on the market - <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/ledger/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>the Ledger wallet</strong></a> -, and you have yourself a pretty strong case for security and asset protection!</p>\n<p>That's about it, for now. I leave you with the knowledge of both how to trade NFTs, for the very first time, as well as concerning all of the prerequisites that you need to be aware of before you can actually start trading.</p>","preview_url":"https://www.bitdegree.org/crypto/learn/how-to-trade-nfts","youtube_video":{"id":137,"channel_id":1,"sort":13,"video_title":"How to Trade NFTs Safely? (Animated Explainer For Beginners)","description":"How to trade NFTs on OpenSea for the very first time?\n\nLove ‘em or hate ‘em, one thing’s for sure - NFTs have definitely become a huge part of the larger crypto ecosystem. While the space is still very volatile, it does attract a lot of attention, from both crypto newbies and veterans, alike!\n\nIn this video, I will tell you how to trade NFTs, or how to buy and sell NFTs for a profit. We’ll talk about the key points that you’ll need to figure out before you start trading, and after that, I will walk you through the process of buying and trading your very first NFT!\n\nHave you ever traded NFTs before? If so, how did you do it? Share your experiences in the comments below!\n\nVideo Time Table:\n\n0:00 Introduction to How to Trade NFTs\n1:00 How to Prepare for NFT Trading\n3:09 Making Your First Trade\n5:16 Trading Your NFTs\n6:41 Extra Safety For Your NFTs\n7:45 Wrap-up: How to Trade NFTs?\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps://twitter.com/crypto_xplained\n\n#HowToTradeNfts #HowToTradeNftsOnOpensea #HowToTradeNftsSafely","video_id":"zxx-yQr9YpU","duration":493,"view_count":176,"thumbnail_url":"https://i.ytimg.com/vi/zxx-yQr9YpU/hq720.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2023-02-09 20:02:37","created_at":"2023-02-09T23:00:04.000000Z","updated_at":"2023-05-21T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}},"featured_image":{"id":9454,"uuid":"d5997c2e-a079-4b01-8bf5-4d05a21b091e","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-trade-nfts-featured-image.jpg","path":"crypto/storage/optimized/how-to-trade-nfts-featured-image.jpg","original_path":"crypto/storage/original/how-to-trade-nfts-featured-image.jpg","name":"how-to-trade-nfts-featured-image.jpg","original_name":"how-to-trade-nfts-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"39.43KB"}},"chapterList":[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-blockchain.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/blockchain-101.jpg","rating":100,"sections":[{"slug":"what-is-blockchain","title":"What is the Blockchain?","featured_image_id":6412,"status":"published","chapter_id":1,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-blockchain","featured_image":{"id":6412,"uuid":"152ba579-ce8d-488a-9e06-bcd99e976b7d","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-blockchain-626fbe085a0cd.o.jpg","path":"crypto/storage/media/what-is-blockchain-626fbe085a0cd.o.jpg","original_path":"crypto/storage/media/what-is-blockchain-626fbe085a0cd.jpg","name":"what-is-blockchain-626fbe085a0cd.o.jpg","original_name":"what-is-blockchain.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.86KB"},"youtube_video":null},{"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","featured_image_id":7205,"status":"published","chapter_id":1,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/decentralized-blockchain","featured_image":{"id":7205,"uuid":"c5d6f6a7-4914-4d6b-9fdd-e94dfb0bae82","public_url":"https://assets.bitdegree.org/crypto/storage/media/decentralized-blockchain-featured-image.o.jpg","path":"crypto/storage/media/decentralized-blockchain-featured-image.o.jpg","original_path":"crypto/storage/media/decentralized-blockchain-featured-image.jpg","name":"decentralized-blockchain-featured-image.o.jpg","original_name":"decentralized-blockchain-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"136.00KB"},"youtube_video":null},{"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","featured_image_id":7397,"status":"published","chapter_id":1,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/blockchain-transaction","featured_image":{"id":7397,"uuid":"e60dff45-4c5d-4b44-a2c1-a27e49f700e7","public_url":"https://assets.bitdegree.org/crypto/storage/media/blockchain-transaction-featured-mage.o.jpg","path":"crypto/storage/media/blockchain-transaction-featured-mage.o.jpg","original_path":"crypto/storage/media/blockchain-transaction-featured-mage.jpg","name":"blockchain-transaction-featured-mage.o.jpg","original_name":"blockchain-transaction-featured-mage.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"85.83KB"},"youtube_video":null},{"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","featured_image_id":7442,"status":"published","chapter_id":1,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/crypto-fees","featured_image":{"id":7442,"uuid":"f554012e-7fe1-4636-9718-81abd3499361","public_url":"https://assets.bitdegree.org/crypto/storage/media/crypto-fees-featured-image.o.jpg","path":"crypto/storage/media/crypto-fees-featured-image.o.jpg","original_path":"crypto/storage/media/crypto-fees-featured-image.jpg","name":"crypto-fees-featured-image.o.jpg","original_name":"crypto-fees-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"78.90KB"},"youtube_video":null},{"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","featured_image_id":7662,"status":"published","chapter_id":1,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bridging-in-crypto","featured_image":{"id":7662,"uuid":"67564127-d9df-451e-8767-c28930039dc8","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-crypto-bridging-featured-image.o.jpg","path":"crypto/storage/media/what-is-crypto-bridging-featured-image.o.jpg","original_path":"crypto/storage/media/what-is-crypto-bridging-featured-image.jpg","name":"what-is-crypto-bridging-featured-image.o.jpg","original_name":"what-is-crypto-bridging-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"106.21KB"},"youtube_video":null},{"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","featured_image_id":7272,"status":"published","chapter_id":1,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/types-of-blockchains","featured_image":{"id":7272,"uuid":"6ad01272-67ac-4719-8e88-7f01752a0628","public_url":"https://assets.bitdegree.org/crypto/storage/media/types-of-blockchains-featured-image.o.jpg","path":"crypto/storage/media/types-of-blockchains-featured-image.o.jpg","original_path":"crypto/storage/media/types-of-blockchains-featured-image.jpg","name":"types-of-blockchains-featured-image.o.jpg","original_name":"types-of-blockchains-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"110.34KB"},"youtube_video":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-cryptocurrencies.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/cryptocurrencies-101.jpg","rating":100,"sections":[{"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","featured_image_id":7751,"status":"published","chapter_id":2,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-cryptocurrency","featured_image":{"id":7751,"uuid":"791c4203-70ae-4c68-8a02-bc1769331e86","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-cryptocurrency-featured-image.o.jpg","path":"crypto/storage/media/what-is-cryptocurrency-featured-image.o.jpg","original_path":"crypto/storage/media/what-is-cryptocurrency-featured-image.jpg","name":"what-is-cryptocurrency-featured-image.o.jpg","original_name":"what-is-cryptocurrency-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"90.10KB"},"youtube_video":null},{"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","featured_image_id":7901,"status":"published","chapter_id":2,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-does-cryptocurrency-work","featured_image":{"id":7901,"uuid":"8cbcfe71-8bbf-4b46-88b5-3c093730a696","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-does-cryptocurrency-work-featured-image.o.jpg","path":"crypto/storage/media/how-does-cryptocurrency-work-featured-image.o.jpg","original_path":"crypto/storage/media/how-does-cryptocurrency-work-featured-image.jpg","name":"how-does-cryptocurrency-work-featured-image.o.jpg","original_name":"how-does-cryptocurrency-work-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"131.98KB"},"youtube_video":null},{"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","featured_image_id":7970,"status":"published","chapter_id":2,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/is-cryptocurrency-a-good-investment","featured_image":{"id":7970,"uuid":"97ba4b02-cac2-4a9a-97d9-517f29a0ba30","public_url":"https://assets.bitdegree.org/crypto/storage/media/is-cryptocurrency-a-good-investment-featured-image.o.jpg","path":"crypto/storage/media/is-cryptocurrency-a-good-investment-featured-image.o.jpg","original_path":"crypto/storage/media/is-cryptocurrency-a-good-investment-featured-image.jpg","name":"is-cryptocurrency-a-good-investment-featured-image.o.jpg","original_name":"is-cryptocurrency-a-good-investment-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"98.62KB"},"youtube_video":null},{"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","featured_image_id":6414,"status":"published","chapter_id":2,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/coin-vs-token","featured_image":{"id":6414,"uuid":"c272a929-e278-42e8-9f7c-5425cfa42224","public_url":"https://assets.bitdegree.org/crypto/storage/media/coin-vs-token.o.jpg","path":"crypto/storage/media/coin-vs-token.o.jpg","original_path":"crypto/storage/media/coin-vs-token.jpg","name":"coin-vs-token.o.jpg","original_name":"coin-vs-token.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"97.03KB"},"youtube_video":null},{"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","featured_image_id":8008,"status":"published","chapter_id":2,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-are-stablecoins","featured_image":{"id":8008,"uuid":"e4bf3c31-531e-4f10-87be-0fa1b4c428c4","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-are-stablecoins-featured-image.o.jpg","path":"crypto/storage/media/what-are-stablecoins-featured-image.o.jpg","original_path":"crypto/storage/media/what-are-stablecoins-featured-image.jpg","name":"what-are-stablecoins-featured-image.o.jpg","original_name":"what-are-stablecoins-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"118.95KB"},"youtube_video":null},{"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","featured_image_id":8074,"status":"published","chapter_id":2,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-bitcoin","featured_image":{"id":8074,"uuid":"46e1226b-b72e-4c63-86f3-00b36865dc24","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-bitcoin-featured-image.o.jpg","path":"crypto/storage/media/what-is-a-bitcoin-featured-image.o.jpg","original_path":"crypto/storage/media/what-is-a-bitcoin-featured-image.jpg","name":"what-is-a-bitcoin-featured-image.o.jpg","original_name":"what-is-a-bitcoin-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"117.78KB"},"youtube_video":null},{"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","featured_image_id":8199,"status":"published","chapter_id":2,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-ethereum","featured_image":{"id":8199,"uuid":"eea421af-8373-441f-98a1-a6ff7e5bf580","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-ethereum-featured-image.o.jpg","path":"crypto/storage/media/what-is-ethereum-featured-image.o.jpg","original_path":"crypto/storage/media/what-is-ethereum-featured-image.jpg","name":"what-is-ethereum-featured-image.o.jpg","original_name":"what-is-ethereum-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"65.20KB"},"youtube_video":null},{"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","featured_image_id":6525,"status":"published","chapter_id":2,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-cardano-in-crypto","featured_image":{"id":6525,"uuid":"b567449c-5b31-45c3-a8eb-4640d3b8ff69","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-cardano.o.jpg","path":"crypto/storage/media/what-is-cardano.o.jpg","original_path":"crypto/storage/media/what-is-cardano.jpg","name":"what-is-cardano.o.jpg","original_name":"what-is-cardano.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"91.90KB"},"youtube_video":null},{"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin Killer","featured_image_id":6541,"status":"published","chapter_id":2,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-shiba-inu-coin","featured_image":{"id":6541,"uuid":"c1bbdb54-6c30-4641-afd4-370b9e795091","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-shiba-inu-coin.o.jpg","path":"crypto/storage/media/what-is-shiba-inu-coin.o.jpg","original_path":"crypto/storage/media/what-is-shiba-inu-coin.jpg","name":"what-is-shiba-inu-coin.o.jpg","original_name":"what-is-shiba-inu-coin.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"91.35KB"},"youtube_video":null},{"slug":"what-is-solana-in-crypto","title":"Is Solana an Improved Version of Ethereum?","featured_image_id":6497,"status":"published","chapter_id":2,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-solana-in-crypto","featured_image":{"id":6497,"uuid":"6c7c70ad-e117-4520-b0ce-8ef6b3c184de","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-solana-in-crypto-6270ec2042765.o.jpg","path":"crypto/storage/media/what-is-solana-in-crypto-6270ec2042765.o.jpg","original_path":"crypto/storage/media/what-is-solana-in-crypto-6270ec2042765.jpg","name":"what-is-solana-in-crypto-6270ec2042765.o.jpg","original_name":"what-is-solana-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"96.08KB"},"youtube_video":null},{"slug":"what-is-polkadot-in-crypto","title":"The Bridge Between Blockchains: Polkadot","featured_image_id":6891,"status":"published","chapter_id":2,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-polkadot-in-crypto","featured_image":{"id":6891,"uuid":"8419c664-891c-434f-8de9-c483cd825616","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-polkadot-in-crypto-featured-image.o.jpg","path":"crypto/storage/media/what-is-polkadot-in-crypto-featured-image.o.jpg","original_path":"crypto/storage/media/what-is-polkadot-in-crypto-featured-image.jpg","name":"what-is-polkadot-in-crypto-featured-image.o.jpg","original_name":"what-is-polkadot-in-crypto-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"87.09KB"},"youtube_video":null},{"slug":"what-is-polygon-in-crypto","title":"Polygon: the Essential Scaling Solution for Ethereum","featured_image_id":7085,"status":"published","chapter_id":2,"language":"en","order":12,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-polygon-in-crypto","featured_image":{"id":7085,"uuid":"3cdbe13d-9f88-4cc9-98a0-0b8515210f94","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-polygon-in-crypto-featured-image.o.jpg","path":"crypto/storage/media/what-is-polygon-in-crypto-featured-image.o.jpg","original_path":"crypto/storage/media/what-is-polygon-in-crypto-featured-image.jpg","name":"what-is-polygon-in-crypto-featured-image.o.jpg","original_name":"what-is-polygon-in-crypto-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"77.90KB"},"youtube_video":null},{"slug":"practical-use-of-cryptocurrencies","title":"The Practical Use of Crypto","featured_image_id":6631,"status":"published","chapter_id":2,"language":"en","order":13,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/practical-use-of-cryptocurrencies","featured_image":{"id":6631,"uuid":"574ad2ea-9601-4c1c-9cf6-1d8221134076","public_url":"https://assets.bitdegree.org/crypto/storage/media/crypto-practical-use.o.jpg","path":"crypto/storage/media/crypto-practical-use.o.jpg","original_path":"crypto/storage/media/crypto-practical-use.jpg","name":"crypto-practical-use.o.jpg","original_name":"crypto-practical-use.jpg","title":null,"alt":null,"width":1280,"height":720,"disk":"spaces","status":"uploaded","readable_file_size":"96.43KB"},"youtube_video":null}]},{"id":3,"title":"Crypto Exchanges","slug":"crypto-exchanges","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-exchanges.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-exchanges-101.jpg","rating":80,"sections":[{"slug":"how-do-cryptocurrency-exchanges-work","title":"How do Cryptocurrency Exchanges Work?","featured_image_id":8223,"status":"published","chapter_id":3,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-do-cryptocurrency-exchanges-work","featured_image":{"id":8223,"uuid":"fcb588c1-df45-4330-95de-a3aec84c8cdb","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-do-cryptocurrency-exchanges-work-featured-image.o.jpg","path":"crypto/storage/media/how-do-cryptocurrency-exchanges-work-featured-image.o.jpg","original_path":"crypto/storage/media/how-do-cryptocurrency-exchanges-work-featured-image.jpg","name":"how-do-cryptocurrency-exchanges-work-featured-image.o.jpg","original_name":"how-do-cryptocurrency-exchanges-work-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"110.40KB"},"youtube_video":null},{"slug":"dex-vs-cex","title":"DEX VS CEX: Two Sides of the Crypto Exchange Industry","featured_image_id":8448,"status":"published","chapter_id":3,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/dex-vs-cex","featured_image":{"id":8448,"uuid":"7fb54661-e36d-4dd5-bb54-f3e80a869640","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/cex-vs-dex-featured-image.jpg","path":"crypto/storage/optimized/cex-vs-dex-featured-image.jpg","original_path":"crypto/storage/original/cex-vs-dex-featured-image.jpg","name":"cex-vs-dex-featured-image.jpg","original_name":"cex-vs-dex-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"33.99KB"},"youtube_video":null},{"slug":"crypto-day-trading","title":"Crypto Day Trading: The Difference Between Buying, Trading, and Swapping","featured_image_id":8449,"status":"published","chapter_id":3,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/crypto-day-trading","featured_image":{"id":8449,"uuid":"025c58f1-f0ec-46b9-a58c-3fdec43a4f4c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/crypto-day-trading-featurd-image.jpg","path":"crypto/storage/optimized/crypto-day-trading-featurd-image.jpg","original_path":"crypto/storage/original/crypto-day-trading-featurd-image.jpg","name":"crypto-day-trading-featurd-image.jpg","original_name":"crypto-day-trading-featurd-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"36.23KB"},"youtube_video":null},{"slug":"kyc-crypto","title":"KYC & AML: The Key to Complying With Legal Industry Standards","featured_image_id":null,"status":"published","chapter_id":3,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/kyc-crypto","featured_image":null,"youtube_video":null},{"slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","featured_image_id":8748,"status":"published","chapter_id":3,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-buy-crypto","featured_image":{"id":8748,"uuid":"fe81c05d-c3da-4d7d-a132-bdb04f1fae9b","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-buy-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-buy-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-buy-crypto-featured-image.jpg","name":"how-to-buy-crypto-featured-image.jpg","original_name":"how-to-buy-crypto-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"46.15KB"},"youtube_video":null},{"slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","featured_image_id":8840,"status":"published","chapter_id":3,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/fiat-to-crypto","featured_image":{"id":8840,"uuid":"6d0b98da-7eb5-4b1e-bfb1-d95f0938f85c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/fiat-to-crypto-featured-image.jpg","path":"crypto/storage/optimized/fiat-to-crypto-featured-image.jpg","original_path":"crypto/storage/original/fiat-to-crypto-featured-image.jpg","name":"fiat-to-crypto-featured-image.jpg","original_name":"fiat-to-crypto-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"44.02KB"},"youtube_video":null},{"slug":"how-to-use-crypto","title":"You’ve Got Crypto: What Can You Do With It?","featured_image_id":8932,"status":"published","chapter_id":3,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-use-crypto","featured_image":{"id":8932,"uuid":"2248685e-3fbf-41a8-80f5-39ea5ce54c4c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-use-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-use-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-use-crypto-featured-image.jpg","name":"how-to-use-crypto-featured-image.jpg","original_name":"how-to-use-crypto-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"34.96KB"},"youtube_video":null}]},{"id":4,"title":"Crypto Wallets","slug":"crypto-wallets","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-wallets.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-wallets-101.jpg","rating":80,"sections":[{"slug":"what-is-a-crypto-wallet","title":"What is a Crypto Wallet?","featured_image_id":10090,"status":"published","chapter_id":4,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-crypto-wallet","featured_image":{"id":10090,"uuid":"8b3d3575-1a58-449e-8583-34a4b43d1d39","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-a-crypto-wallet-featured-image.jpg","path":"crypto/storage/optimized/what-is-a-crypto-wallet-featured-image.jpg","original_path":"crypto/storage/original/what-is-a-crypto-wallet-featured-image.jpg","name":"what-is-a-crypto-wallet-featured-image.jpg","original_name":"what-is-a-crypto-wallet-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"58.62KB"},"youtube_video":null},{"slug":"hot-wallet-vs-cold-wallet","title":"Hot Wallet VS Cold Wallet: Which One to Pick?","featured_image_id":9000,"status":"published","chapter_id":4,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/hot-wallet-vs-cold-wallet","featured_image":{"id":9000,"uuid":"bf04c205-f96c-41bf-86f7-a2672133734e","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/hot-wallet-vs-cold-wallet-featured-image.jpg","path":"crypto/storage/optimized/hot-wallet-vs-cold-wallet-featured-image.jpg","original_path":"crypto/storage/original/hot-wallet-vs-cold-wallet-featured-image.jpg","name":"hot-wallet-vs-cold-wallet-featured-image.jpg","original_name":"hot-wallet-vs-cold-wallet-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"57.52KB"},"youtube_video":null},{"slug":"non-custodial-wallet","title":"What are Non-Custodial Crypto Wallets?","featured_image_id":7608,"status":"published","chapter_id":4,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/non-custodial-wallet","featured_image":{"id":7608,"uuid":"cdbc87df-190b-4a52-92ed-674c981bfbb1","public_url":"https://assets.bitdegree.org/crypto/storage/media/non-custodial-wallet-featured-image.o.jpg","path":"crypto/storage/media/non-custodial-wallet-featured-image.o.jpg","original_path":"crypto/storage/media/non-custodial-wallet-featured-image.jpg","name":"non-custodial-wallet-featured-image.o.jpg","original_name":"non-custodial-wallet-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"119.46KB"},"youtube_video":null},{"slug":"what-is-metamask","title":"Metamask: The Leading Non-Custodial Wallet","featured_image_id":6436,"status":"published","chapter_id":4,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-metamask","featured_image":{"id":6436,"uuid":"07afcb69-dec3-477f-8b1c-a78a2f7c8892","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-metamask-626fdf70526cf.o.jpg","path":"crypto/storage/media/what-is-metamask-626fdf70526cf.o.jpg","original_path":"crypto/storage/media/what-is-metamask-626fdf70526cf.jpg","name":"what-is-metamask-626fdf70526cf.o.jpg","original_name":"what-is-metamask.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"87.47KB"},"youtube_video":null},{"slug":"how-safe-is-cryptocurrency","title":"The Key Crypto Wallet Safety Practices: How Safe Can Crypto Be?","featured_image_id":9338,"status":"published","chapter_id":4,"language":"en","order":37,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-safe-is-cryptocurrency","featured_image":{"id":9338,"uuid":"f5b1da8e-dee9-43ea-b6d7-f2f057a71090","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-safe-is-cryptocurrency-featured-image.jpg","path":"crypto/storage/optimized/how-safe-is-cryptocurrency-featured-image.jpg","original_path":"crypto/storage/original/how-safe-is-cryptocurrency-featured-image.jpg","name":"how-safe-is-cryptocurrency-featured-image.jpg","original_name":"how-safe-is-cryptocurrency-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"64.98KB"},"youtube_video":null}]},{"id":5,"title":"NFTs","slug":"nfts","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-nfts.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/nfts-101.jpg","rating":100,"sections":[{"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","featured_image_id":6396,"status":"published","chapter_id":5,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-are-nfts","featured_image":{"id":6396,"uuid":"8b724ac3-532b-441e-bf9c-58a6af704a7f","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-are-nfts.o.jpg","path":"crypto/storage/media/what-are-nfts.o.jpg","original_path":"crypto/storage/media/what-are-nfts.jpg","name":"what-are-nfts.o.jpg","original_name":"what-are-nfts.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"101.34KB"},"youtube_video":null},{"slug":"how-to-trade-nfts","title":"NFT Trading: The Ins and Outs","featured_image_id":9454,"status":"published","chapter_id":5,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-trade-nfts","featured_image":{"id":9454,"uuid":"d5997c2e-a079-4b01-8bf5-4d05a21b091e","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-trade-nfts-featured-image.jpg","path":"crypto/storage/optimized/how-to-trade-nfts-featured-image.jpg","original_path":"crypto/storage/original/how-to-trade-nfts-featured-image.jpg","name":"how-to-trade-nfts-featured-image.jpg","original_name":"how-to-trade-nfts-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"39.43KB"},"youtube_video":null},{"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","featured_image_id":9674,"status":"published","chapter_id":5,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/buying-nft","featured_image":{"id":9674,"uuid":"ae025989-e689-4ece-b472-3434080810fb","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/buying-nft-featured-image.jpg","path":"crypto/storage/optimized/buying-nft-featured-image.jpg","original_path":"crypto/storage/original/buying-nft-featured-image.jpg","name":"buying-nft-featured-image.jpg","original_name":"buying-nft-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"48.93KB"},"youtube_video":null},{"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","featured_image_id":9873,"status":"published","chapter_id":5,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-store-nft","featured_image":{"id":9873,"uuid":"23f1f793-d48c-4007-9d1b-9dea00fef356","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-store-nft-featured-image.jpg","path":"crypto/storage/optimized/how-to-store-nft-featured-image.jpg","original_path":"crypto/storage/original/how-to-store-nft-featured-image.jpg","name":"how-to-store-nft-featured-image.jpg","original_name":"how-to-store-nft-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"44.13KB"},"youtube_video":null},{"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","featured_image_id":10971,"status":"published","chapter_id":5,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-create-an-nft","featured_image":{"id":10971,"uuid":"264558fd-a505-4b94-9844-a73588ead5f2","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-create-an-nft-featured-image.jpg","path":"crypto/storage/optimized/how-to-create-an-nft-featured-image.jpg","original_path":"crypto/storage/original/how-to-create-an-nft-featured-image.jpg","name":"how-to-create-an-nft-featured-image.jpg","original_name":"how-to-create-an-nft-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"50.40KB"},"youtube_video":null},{"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","featured_image_id":6524,"status":"published","chapter_id":5,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-make-passive-money-with-nft","featured_image":{"id":6524,"uuid":"b32da80c-c3a6-4042-8a35-032e843e93c2","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-make-passive-money-with-nfts.o.jpg","path":"crypto/storage/media/how-to-make-passive-money-with-nfts.o.jpg","original_path":"crypto/storage/media/how-to-make-passive-money-with-nfts.jpg","name":"how-to-make-passive-money-with-nfts.o.jpg","original_name":"how-to-make-passive-money-with-nfts.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"109.46KB"},"youtube_video":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-dapps.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/dapps-defi-101.jpg","rating":80,"sections":[{"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","featured_image_id":6482,"status":"published","chapter_id":6,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-defi","featured_image":{"id":6482,"uuid":"fe6a90e2-dd9b-4fde-a73d-4bd54f28333a","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-defi-6270d5ef7b36a.o.jpg","path":"crypto/storage/media/what-is-defi-6270d5ef7b36a.o.jpg","original_path":"crypto/storage/media/what-is-defi-6270d5ef7b36a.jpg","name":"what-is-defi-6270d5ef7b36a.o.jpg","original_name":"what-is-defi.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"100.87KB"},"youtube_video":null},{"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","featured_image_id":null,"status":"published","chapter_id":6,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-defi-2-0","featured_image":null,"youtube_video":null},{"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","featured_image_id":6512,"status":"published","chapter_id":6,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-are-dapps-in-crypto","featured_image":{"id":6512,"uuid":"5b01af79-3366-4b9a-bbc4-a1e6511c23c2","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-are-dapps-in-crypto.o.jpg","path":"crypto/storage/media/what-are-dapps-in-crypto.o.jpg","original_path":"crypto/storage/media/what-are-dapps-in-crypto.jpg","name":"what-are-dapps-in-crypto.o.jpg","original_name":"what-are-dapps-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"143.97KB"},"youtube_video":null},{"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","featured_image_id":11150,"status":"published","chapter_id":6,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/defi-dapps","featured_image":{"id":11150,"uuid":"bead04d0-c7ab-484a-9a26-c279078cdafa","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/defi-dapps-featured-image.jpg","path":"crypto/storage/optimized/defi-dapps-featured-image.jpg","original_path":"crypto/storage/original/defi-dapps-featured-image.jpg","name":"defi-dapps-featured-image.jpg","original_name":"defi-dapps-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.91KB"},"youtube_video":null},{"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","featured_image_id":6395,"status":"published","chapter_id":6,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-web-3-0","featured_image":{"id":6395,"uuid":"1ba8aae1-7977-415b-9e73-f68ad1219405","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-web3.o.jpg","path":"crypto/storage/media/what-is-web3.o.jpg","original_path":"crypto/storage/media/what-is-web3.jpg","name":"what-is-web3.o.jpg","original_name":"what-is-web3.jpg","title":null,"alt":null,"width":768,"height":476,"disk":"spaces","status":"uploaded","readable_file_size":"103.80KB"},"youtube_video":null},{"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart Contracts?","featured_image_id":6413,"status":"published","chapter_id":6,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-are-smart-contracts","featured_image":{"id":6413,"uuid":"ec3a5a7b-d00e-4273-bfcf-60fa52a33851","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-are-smart-contracts.o.jpg","path":"crypto/storage/media/what-are-smart-contracts.o.jpg","original_path":"crypto/storage/media/what-are-smart-contracts.jpg","name":"what-are-smart-contracts.o.jpg","original_name":"what-are-smart-contracts.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"103.94KB"},"youtube_video":null},{"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","featured_image_id":6502,"status":"published","chapter_id":6,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-dao-in-crypto","featured_image":{"id":6502,"uuid":"e58df8a9-b000-4267-91f3-bd0d697c8984","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-dao-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-dao-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-dao-in-crypto.jpg","name":"what-is-a-dao-in-crypto.o.jpg","original_name":"what-is-a-dao-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"79.33KB"},"youtube_video":null},{"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","featured_image_id":6498,"status":"published","chapter_id":6,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-staking-in-crypto","featured_image":{"id":6498,"uuid":"b76303ce-48b0-4c97-812d-cb2589859f47","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-staking.o.jpg","path":"crypto/storage/media/what-is-staking.o.jpg","original_path":"crypto/storage/media/what-is-staking.jpg","name":"what-is-staking.o.jpg","original_name":"what-is-staking.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"258.60KB"},"youtube_video":null},{"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","featured_image_id":6488,"status":"published","chapter_id":6,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-liquidity-pool-in-crypto","featured_image":{"id":6488,"uuid":"2fc1d0cc-8577-43c0-bc7d-f00a6291caea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-liquidity-pool-6270dd6a4c693.o.jpg","path":"crypto/storage/media/what-is-liquidity-pool-6270dd6a4c693.o.jpg","original_path":"crypto/storage/media/what-is-liquidity-pool-6270dd6a4c693.jpg","name":"what-is-liquidity-pool-6270dd6a4c693.o.jpg","original_name":"what-is-liquidity-pool.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"108.86KB"},"youtube_video":null},{"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","featured_image_id":null,"status":"published","chapter_id":6,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-automated-market-maker","featured_image":null,"youtube_video":null},{"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming Techniques","featured_image_id":6528,"status":"published","chapter_id":6,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-yield-farming-in-crypto","featured_image":{"id":6528,"uuid":"bc531000-9b52-4db5-93fc-80d3317a660d","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-yield-farming-in-crypto.o.jpg","path":"crypto/storage/media/what-is-yield-farming-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-yield-farming-in-crypto.jpg","name":"what-is-yield-farming-in-crypto.o.jpg","original_name":"what-is-yield-farming-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"184.57KB"},"youtube_video":null},{"slug":"what-is-an-oracle-in-crypto","title":"Crypto Oracles: The Link Between Blockchain and Outside World Data","featured_image_id":10249,"status":"published","chapter_id":6,"language":"en","order":12,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-oracle-in-crypto","featured_image":{"id":10249,"uuid":"035b2dde-8494-4742-9b7e-4b442aff7955","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-oracle-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-oracle-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-oracle-in-crypto-featured-image.jpg","name":"what-is-an-oracle-in-crypto-featured-image.jpg","original_name":"what-is-an-oracle-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"53.26KB"},"youtube_video":null},{"slug":"crypto-gambling","title":"The Peculiarities of Decentralized Crypto Gambling","featured_image_id":9901,"status":"published","chapter_id":6,"language":"en","order":13,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/crypto-gambling","featured_image":{"id":9901,"uuid":"60ea4f3a-9576-4004-aa96-619dc96e4319","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/crypto-gambling-featured-image.jpg","path":"crypto/storage/optimized/crypto-gambling-featured-image.jpg","original_path":"crypto/storage/original/crypto-gambling-featured-image.jpg","name":"crypto-gambling-featured-image.jpg","original_name":"crypto-gambling-featured-image.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"61.02KB"},"youtube_video":null},{"slug":"what-is-the-metaverse","title":"Metaverse: A New Perception of Reality","featured_image_id":6411,"status":"published","chapter_id":6,"language":"en","order":14,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-the-metaverse","featured_image":{"id":6411,"uuid":"fad79626-bbf1-4fc0-9e99-bde5597c1bc7","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-metaverse.o.jpg","path":"crypto/storage/media/what-is-metaverse.o.jpg","original_path":"crypto/storage/media/what-is-metaverse.jpg","name":"what-is-metaverse.o.jpg","original_name":"what-is-metaverse.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"88.15KB"},"youtube_video":null}]},{"id":7,"title":"Trading & Investing","slug":"trading-and-investing","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-trading.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-trading-101.jpg","rating":80,"sections":[{"slug":"where-to-trade-crypto","title":"Where Can You Trade Cryptocurrencies?","featured_image_id":10342,"status":"published","chapter_id":7,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/where-to-trade-crypto","featured_image":{"id":10342,"uuid":"0bd8d78a-9423-48ee-9161-34dc1872b97c","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","path":"crypto/storage/optimized/where-to-trade-crypto-featured-image.jpg","original_path":"crypto/storage/original/where-to-trade-crypto-featured-image.jpg","name":"where-to-trade-crypto-featured-image.jpg","original_name":"where-to-trade-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"85.96KB"},"youtube_video":null},{"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"currentChapter":"nfts","currentSection":"how-to-trade-nfts","readingTime":8,"readingLevel":"medium"},"url":"/crypto/learn/how-to-trade-nfts","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Chapter 5: NFTs
NFT Trading: The Ins and Outs
Did you know that each NFT is totally unique, making you the only person in the entire world to possess it?
In this section, I’m going to tell you how to trade NFTs on OpenSea, in the simplest way possible!
NFTs are undeniably a huge part of the crypto space. While their popularity is very volatile, there are new projects coming out within the space, seemingly every day, still! Many crypto enthusiasts will tell you that non-fungible tokens are still a great way to make money with crypto!
You’ve heard about NFTs, love the idea behind them, and are now eager to make money this way, too. However, you’re new to crypto, and have no idea where to even start. If that’s the case - don’t fret, since that’s what I’m here to help you with!
In this section, we’re going to talk about NFT trading. Specifically, I’ll tell you about all of the prerequisites that you need to keep in mind before you actually start trading, as well as walk you through the process of performing your very first NFT trade, too!
Let’s get to it!
Video Explainer
Video Explainer: NFT Trading: The Ins and Outs
Reading is not your thing? Watch the "NFT Trading: The Ins and Outs" video explainer
Before You Start
Now, while jumping into NFT trading can be a super-exciting prospect, you need to contain your excitement a tad bit longer, while we talk about a few prerequisites that you’ll need to sort out. After all, if you want to maximize your chances of success in trading NFTs, you need to come in with your homework prepared!
The very first thing that you’ll need to do is create a hot cryptocurrency wallet. You will use this wallet to store your NFTs, as well as perform all of the transactions in the future. If you decide to study how to make NFTs to sell, this wallet will be needed, as well!
There are plenty of different wallets that you can pick, but I’d personally go with MetaMask. You can read a dedicated section for this particular wallet, but in short, it’s one of the most popular Ethereum and ERC token wallets on the market, and it’ll make Ethereum-based NFT storage a breeze.
Moving on, the next big thing that you need to take care of is the actual crypto that you’ll use to purchase your initial NFTs. In other words, if you’re starting completely fresh, and don’t have any assets to your name, you’ll need to buy some cryptocurrency (specifically - Ether) in order to then trade it for your very first NFT. Some marketplaces support credit and debit cards, but if you want complete privacy and anonymity, you’ll need to stick to the crypto route.
This process can sound really intimidating, but let me assure you - it’s really nothing to be worried about! These days, popular cryptocurrency exchange platforms are extremely good at onboarding newbies, and guiding them through their initial purchases. With the best-known exchanges, such as Binance or Kraken, you’ll be able to register and buy crypto with a credit or debit card in no time!
If you’d like to check out a more thorough explanation of how to buy cryptocurrency for the very first time, read this section – it covers the process in-depth. Granted that this section is about how to buy and sell NFTs for profit, I’ll assume that you already have your wallet ready, and with some crypto transferred to it, too.
The final point of preparation has to do with choosing the best NFT marketplace, where you’d perform all of your trades on. Admittedly, the variety of available options is getting bigger, by the day, but if you want to err on the side of caution, your best bet would still be using OpenSea. It’s considered by many to be the best NFT marketplace out there, offering its users access to an unprecedented number of different non-fungible tokens, and a way of how to trade NFTs safely.
Making Your First Trade
So - with all of the big preparation steps out of the way, you are finally ready to learn how to trade NFTs! But a single question remains - what NFT should you buy, as your very first one?
Now, truth be told, this is a discussion for the ages. Everyone is going to have their own opinions about which non-fungible tokens are “worth it”, and which will tank, price-wise.
Depending on when it is that you’re reading this section, the NFT boom might be at its peak, or we might currently be in an “NFT winter”. This is a huge factor to consider, as well - as history has shown, many NFTs tend to lose a lot of their initial value, when the bear market comes!
Your best bet would be to set up a price range, and then look for an NFT project that has some sort of backing behind it. This can be anything - a collection of paintings with free tickets to a concert, each, a piece of digital artwork from a band, containing a link to their new, Metaverse-exclusive album, photos of cars from a famous car brand, each coming with exclusive benefits to the holder, and so on.
No one can say for sure, which projects will blow up, and which will tank in price! However, if you follow the market trends, and educate yourself about the industry, as a whole, you could catch some hidden gems, every once in a while!
Let’s say that you’ve found that one, single NFT that you absolutely love, and think that it’s going to appreciate in price, as time goes on. How do you get it into your digital wallet?
Well, if you’re using OpenSea and MetaMask, this process is going to be super simple.
First, you need to connect your wallet to OpenSea. This can be done at the top-right corner of the screen, on the OpenSea homepage - simply choose to connect via MetaMask, pass a few verifications, and you’re in!
Next, you’ll need to find the NFT that you’ve picked, and either add it to your basket, or buy it instantly. When you navigate to your basket, you’ll be able to view all of the necessary details to complete your transaction - creator fees, payment types, total price, and so on.
If everything seems to be in order, you can complete your payment - if you’re using crypto, and have enough coins in your wallet, you’ll receive a few transaction confirmations, and in a few seconds, your MetaMask wallet will be credited with your newly-acquired non-fungible token. Congratulations on your new purchase!
Trading Your NFTs
Now that you’ve dipped your toes into the world of NFT ownership, you can finally start trading these assets. There are multiple ways of how you can approach the topic, as well!
Think of it like trading candy. You could sell the candy at a physical store, online, or trade it for some other goods, as well. NFTs aren’t any different, in that regard!
The simplest way of how to trade NFTs is to sell your current NFT for a profit, and purchase another token (or, even, tokens!) in its place. While it’s not technically “trading”, per se, you are still exchanging NFTs, albeit indirectly.
The best part? This can be done on the same marketplace that you’ve bought your original NFT on. Meaning, you don’t need to over-encumber yourself with the management of a huge list of different trading platforms.
Alternatively, you could participate in actual NFT trading, as well - in other words, you could exchange your NFT for another one, in a mutually agreed-upon trade with another person.
Is this something I’d recommend doing? Well, not really, no. These types of trades involve a lot of trust, and are usually very complex when it comes to determining whether or not they’re actually beneficial. For the most part, I’d stick to the time-tested buying and selling processes!
The one piece of good news, however, is that there seems to be an influx of marketplaces that make trading NFTs much simpler. These platforms act as middlemen, and facilitate a trade between two parties - you, and another person that you’re trading with. So, it’s definitely something worth keeping in mind, if you do decide to go the trading route!
Extra Safety for Your NFTs
Now that you know how to buy and sell NFTs for profit, and are ready to jump into this exciting realm, there’s one more point that I’d like to stress.
Above in this section, I've mentioned MetaMask, and how it’s the best wallet to use for all of your NFT trading ventures. While that is true, convenience-wise, MetaMask is still considered to be a hot wallet - one that maintains a constant connection to the internet.
Assuming that you’ll find success in your non-fungible token trading ventures, and grow your portfolio, eventually, you might start worrying about the safety of your assets. While MetaMask has a decent reputation, security-wise, there’s still a lot of room for improvement - this is where hardware wallets come in.
Hardware wallets are often considered to be among the safest crypto storage options in the industry. Combine that with the fact that you can actually connect your MetaMask wallet with one of the most popular hardware storage devices on the market - the Ledger wallet -, and you have yourself a pretty strong case for security and asset protection!
That's about it, for now. I leave you with the knowledge of both how to trade NFTs, for the very first time, as well as concerning all of the prerequisites that you need to be aware of before you can actually start trading.
