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+--- Thread: How to Start Investing in NFTs (/showthread.php?tid=180)
How to Start Investing in NFTs - Maria - 06-13-2023
The profitability of NFTs (Non-Fungible Tokens) can vary greatly, just like any other asset. Some NFTs have sold for millions of dollars, while others have sold for very little. Additionally, the value of an NFT can change rapidly, making it a potentially high-risk investment. NFT investing is speculative and volatile. Just like any other investment, there is always risk involved. Before making any investment decisions, it is recommended to seek professional financial advice. Nevertheless, if you want to start investing, here are some tips worth considering.
- Research: Educate yourself about NFTs, the market, and the artists, creators and platforms involved.
- Choose a Platform: Decide on a reputable platform for buying and selling NFTs, such as OpenSea, SuperRare, Rarible, etc.
- Get a Wallet: You will need a digital wallet to store your NFTs, such as MetaMask or MyEtherWallet.
- Fund your Wallet: Add cryptocurrency, such as Ethereum (ETH), to your wallet to be able to purchase NFTs.
- Buy NFTs: Browse the marketplaces and find NFTs that fit your investment criteria, such as those created by popular artists or those with a good track record of appreciation in value.
- Store Safely: Keep your NFTs safe by storing them in a secure digital wallet and backup your private keys.
- Monitor the Market: Stay up-to-date with the NFT market and track the performance of your investments.
RE: How to Start Investing in NFTs - deucher - 12-24-2023
I don't think it's worth it at all, because the peak of the popularity of this type has passed and everyone who buys a picture will never be able to sell it, although it is possible if you buy the most expensive collections, they are always in the top and they have liquidity.