Top 7 Tips For Buying NFTs

With NFTs becoming increasingly popular, it is becoming more difficult to choose an NFT project that will grow your investment. This article will talk about the top 7 tips that we recommend when buying an NFT.

Tip #1: Make sure the project you’re buying is on a well known blockchain

NFT projects are expanding into dozens of different blockchains, but all good projects have one thing in common: They are on a safe and reliable blockchain. Before buying any NFT, check to see what blockchain the project is on. We recommend sticking to projects on the Ethereum, Polygon, and Solana blockchains.

Tip #2: Make sure the project has exposure

The most common mistake that new NFT investors make is investing in little known projects. When buying an NFT, make sure that the project has an Instagram page, Twitter, and Discord. We suggest sticking to projects with at least 10k+ followers across socials.

Tip #3: Make sure you are using a safe platform to buy the NFT

Many platforms have bugs or are unreliable when it comes to buying NFTs. Therefore, you should always make sure that the platform you are using is vetted and safe. If you are using a mobile phone, the best platform to use is NFT GO.

Tip #4: Make sure the NFT is fairly priced

Many projects price their NFTs too high or too low. A high price tag will make reselling the NFT a challenge. On the other hand, a low price tag will make it difficult to resell the NFT for a significant profit. We recommend buying NFTs that are priced between $70 - $300. This is the golden range for NFTs.

Tip #5: Don’t try to resell the NFT too quickly

When buying an NFT, it is important to know how long you should hold the NFT for. Don’t make the mistake of selling too early and missing out on profits. Typically, we suggest waiting a few days to see how the market reacts to the NFT collection to which your NFT belongs.

Tip #6: Buy NFTs that look good

One of the most important aspects of an NFT is the art. Only buy NFTs that have a unique, eye-catching design. This will increase your chance of flipping the NFT. Typically, realistic 3D NFT designs as well as animated cartoon designs – think Doodles or Bored Apes, do best.

Tip #7: Make sure the collection you’re buying from is big enough

It is important to look at the collection that you are buying from. Make sure that there aren’t too many items or too few. If there are too many items, each NFT will be less valuable. If there are too few, it will be very difficult to purchase one before they sell out. We recommend buying from collections with at least 200 items, and at most 20,000.