Buying an NFT isn’t rocket science, even if you’re a complete newcomer. All you need is a Web3 wallet, some crypto to pay for your NFT (and transaction fees), and a marketplace like Magic Eden that offers a wide range of NFTs for you to choose from.
Read on to learn how to go from NFT-curious to NFT-owner in this step-by-step guide on how to buy your first NFT.
Before you can go ahead and snap up your first-ever NFT, you’ll need to set up a crypto wallet that supports NFTs. While there are plenty of NFT wallets to choose from, we’ll use Magic Eden Wallet for this example.
To set up your Magic Eden Wallet, go to the Magic Eden Wallet website and choose between downloading the mobile version or the browser extension version of the wallet app.
For this guide, we’ll use the browser extension. Click “Install on Chrome.”
Then, in the Chrome Web Store, click "Add extension" to install it in your browser.
You will be automatically redirected to a request to import an existing wallet or create a new one. Click "Create New Wallet".
Set a strong password to access your wallet. Confirm the password to continue.
Next, buy cryptocurrency directly from within your Magic Eden wallet using the fiat-to-crypto onramp or purchase it on a trusted exchange and transfer it to your wallet.
Congratulations! Your wallet is ready to use.
Next, you need to access an NFT marketplace–like Magic Eden–where you can find a range of NFTs to choose from.
On Magic Eden, you can browse popular NFT collections, check out the latest drops, or use the search bar if you already know what you're looking for.
Before making a purchase, make sure your account is set up.
To purchase any NFT, you’ll need to click ‘Log In’ to create a new account on the marketplace. Once you’ve done that, connect your crypto wallet.
Magic Eden supports a wide range of wallet options to make the process easier.
There are two ways to buy NFTs on our platform: at a fixed price or by placing an offer.
Fixed-price purchases are processed instantly, while offers require the seller’s approval and may take some time.
Hover over the NFT you’ve selected and look for the ‘Buy’ button.
Click it to start the purchase process.
If you’re buying a single NFT, select “Buy 1 item” and follow the prompts from your wallet to complete the transaction.
You can complete the purchase using cryptocurrency or choose the credit card payment option. Card purchases are handled through trusted third-party services integrated into Magic Eden.
Clicking this option will prompt you to enter your card details, country, and the cardholder’s name, then confirm the transaction.
Once the payment goes through, you’ll receive a confirmation message in your wallet indicating that the purchase was successful.
To place an offer, go to the collection page and find the NFT you’re interested in.
Click on the image to open the “Item details” modal, where you’ll see more information about the NFT.
Look for the “Make an offer” button.
Offers are made using your wallet connected to your Magic Eden profile. This wallet, called the Escrow wallet, must hold at least 50% of the NFT’s “Buy Now” price in crypto for you to submit an offer.
You can move funds between your main wallet and your trading wallet.
To manage your escrow balance, add funds, withdraw, or monitor offers, go to the “Offers Made” section in your Magic Eden profile.
Back to the offer: in the modal, you’ll find a field where you can enter the price you’d like to offer. The amount must be lower than the listed price, but not less than 50% of the listed price.
Be sure to set an expiration time for your offer. The default is one month, but you can select any period from 15 minutes to a year.
Offers won’t be automatically canceled if the NFT is sold or delisted during that period, so it’s best to keep an eye on them.
Once everything looks good, click the “Make Offer” button.
Your connected wallet will open, and you’ll be prompted to confirm the transaction to complete the offer for the selected NFT.
If you want to get your hands on the latest NFT drops, check out the Magic Eden Mint Terminal. There, you can browse live minting collections using filters to find exactly what you’re after.
Start by selecting your preferred blockchain. Magic Eden currently supports several major blockchains:
Explore live feeds and trending mints to discover collections that stand out.
The "Trending" section features collections with the highest minting activity in real-time
Use filters to narrow down your search and easily spot projects you want to mint.
You can filter projects by key details like number of holders, mint price, mint status, edition type, platform, percentage minted, and total supply, helping you find collections that match your specific criteria.
Live Feed is where you’ll see the most recent mints as they happen.
Key features include easy feed control with play/pause, filtering by free or paid mints, and a nonstop stream of real-time updates.
Pause the feed anytime to check out and buy what catches your eye by hitting the ‘Mint’ button.
Magic Eden provides a community-centric NFT marketplace that allows you to discover the latest NFT drops as well as purchase the most popular collections–all in one place.
Connect your wallet to Magic Eden today to buy your first NFT and explore everything that Web3 has to offer.
Access the Magic Eden marketplace and explore NFTs across 10+ blockchains.
NFT prices can range from as low as $0.05 to over $1 million. Factors influencing the cost include the popularity of the collection or creator, gas fees, marketplace account fees, and listing fees. You can get your hands on free mints, but you’ll still have to pay network fees when you scoop them up.
Yes, there are still plenty of NFTs out there that are worth a lot of money at current market prices. The big blue-chip collections like Bored Apes, CryptoPunks and Pudgy Penguins still fetch high prices as collectors have come to love these collections and are willing to pay a hefty amount of ETH for them.
To purchase an NFT on Magic Eden, set up your preferred wallet and fund it with cryptocurrency. Then, choose an NFT you’d like to own and buy it at the listed price or submit an offer to the seller. Confirm the transaction using your wallet, and the NFT will pop up in your wallet for you to marvel at shortly.
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The information provided on this website is provided for general educational purposes only and is in no way financial or investment advice. Certain information may have also been provided to us or prepared by third parties; these materials are provided for convenience and are not an endorsement by Magic Eden. Magic Eden is not liable for any errors, changes or amendments to such information, including any actions taken in reliance on such information.
