How to buy NFTs from Opensea

Opensea is one of the biggest trading avenues for buying and selling non fungible tokens, or NFTs.

What are NFTs?

Well, NFTs are unique, digital collectibles with ownership managed on the blockchain. Examples of NFTs include digital art, collectibles, virtual reality items, crypto domain names, ownership records for physical assets, and more.

They’ve been around since 2014, but NFTs are becoming an increasingly popular way to buy and sell digital artwork.

To exchange these digital collectibles, a special exchange like Opensea allows interaction between users over a blockchain like polygon.

In this article, we will introduce how you can start your NFT purchase journey with Opensea.

Create a cryptocurrency wallet

Before you can get started in purchasing NFTs on Opensea, you’d need a cryptocurrency wallet.

Popular ones include Metamask, Coinbase Wallet and Rainbow wallet. You can read a list of recommended wallets here.

Fund your cryptocurrency wallet with USD

The next step is to fund your wallet with digital currency such as USD.

You can purchase cryptocurrencies from popular exchanges like Binance or Gemini — and then withdraw them to your wallet.

Or to use metamask to buy crypto and hold NFT.

Head over to Opensea

Visit the Opensea website to browse available NFT collections.

Use the Marketplace tab to browse Benefix.

Connecting your wallet

To buy and sell NFTs on Opensea you’d need to connect your wallet.

Use the wallet icon on the top right to connect your wallet.

Then sign in following the instructions on screen.

Once you’ve connected your wallet, you can start bidding or buying NFTs outright!

Making an offer on Opensea

Select Make Offer on the item page

Select the currency you’d like to make your offer in.

If you’re making an offer in a currency you’ve never purchased with before, you may be prompted to pay a one-off network transaction cost to allow your wallet to purchase with that particular currency.

After you’ve enabled your wallet for trading, you’ll be able to make offers in the currency for free.

Enter the amount of your offer in the appropriate currency and the expiration date then select Make Offer and sign the relevant transactions in your wallet.

Bids must be at least 5% higher than the previous bid. Only bids in the same payment token (e.g. wrapped ETH or DAI) as the auction will be counted towards the winning bid.

Purchasing fixed price NFTs

Select the Buy Now button and follow the prompts in your wallet.

Once the transaction is complete, the item will transfer to your wallet and the seller will receive the funds.

Viewing your purchased NFTs

After purchasing or successfully bidding for your NFTs in Opensea, your NFTs are stored in your account on the respective blockchain.

In fact, OpenSea does not store your items or digital collectibles, it is just providing access to view the transactions in your wallet.

Using the My Profile tab will allow you to view NFTs stored under your connected wallet, where you can manage them by selling, transferring or hiding them from display.

Alternatively, you could also use another beautiful app like Rainbow.me to view your NFTs!