DYOR. The special most used word in the crypto space. Well it holds just as much value here. Scammers are everywhere and it seems like they do not care how many negative effects they bring in the different communities. That’s why it’s advisable to be prepared and well informed. Luckily this article will help you throughout your adventure in the blockchain!
Let’s begin with the basics…In order to trade NFT’s on Solana you’ll need a compatible wallet , where you will store both your crypto and jpegs :)
After adding the phantom extension to your browser(preferably Brave) open the phantom interface and make sure to write down the 12 words that will be generated on the screen. This is your seed phrase , it’s used as the key for your wallet so never share it with anyone! Upon doing that you will have to create a password for the app. Once you’ve done that you are good to go.
phantom.app
In order to navigate funds and NFTs between different wallets or approving transactions you will have to add some $SOL in your phantom. You can do this by transferring crypto from Centralized exchanges like Binance, Coinbase, Kraken or Gemini.
Now the next step would naturally be to buy a NFT, but how do we do that? Don’t worry I got you!
There are many marketplaces that could be used for trading Solana NFT projects , with the biggest names on the list being Solanart, Magic Eden and Solsea. My personal favourite is Magic Eden because it has low fees and very user friendly UI.
After opening the website , the first thing you will have to do is approve a connection with your phantom wallet. From there you just need to add some $SOL in your wallet and the shopping may begin. You can easily track the top performing project via the “browse” button.
That’s great , but how to choose a good project to buy?
Honestly…this is a tough question and there are a lot of factors involved, but lets begin with your budget! If you are a real degen and you are ready to spend some money on jpegs — consider buying some Blue chip NFTs.
Thug birdz , Degen Ape Academy , Solana Monkey Business, Aurory and Galactic geckos are just a few of the biggest Solana NFT projects that have been constantly delivering and outperforming everyone else on the market. Adding these to your portfolio will never be a bad idea , but remember :
Well , if you are not stacked up on $SOL you will have to do it the hard way. Now you will have to use the famous “networking” in order to find exciting new projects that hold a lot of long term potential and value. Your goal will be to form connections with a lot of people , as well as participate in various discord communities.
Another great place where you could find useful information is Twitter. The Solana community is very friendly and people are more than ready to help you on your NFT journey. Gaining knowledge and socializing with other people is definitely the right investment strategy!
Last but not least a very important matter to discuss: How to ensure that your investments are secured?
By following these simple tips you will be far more prepared and safe than the average beginner!
Overall , this is what I can share from my POV and experience! Always try to learn and adapt because knowledge is power. Thank you for reading my article and good luck on your NFT journey future degens!