How does NFT trading work?
NFT trading takes place on an NFT Marketplace, such as OpenSea. NFTs can be bought just for fun, like collectables, or they can be used as an investment (e.g. to make money). Those who want to make a profit will buy an NFT, wait for the value to increase over time and sell it at a higher price.
The value of an Non Fungible Token is unfixed and primarily based on demand. If a large number of traders view an NFT as valuable and then it becomes valuable.
Like any other asset (such as stocks or bonds) if you seek to make a profit, the goal is to buy low and sell high. To begin you will need to set up a Cryptocurrency Wallet. A crypto wallet is precisely what it says on the tin, it is a program that acts as a wallet for your crypto keys and NFTs.
Following that, you need to set up an account with an NFT Marketplace (such as OpenSea), where the trading of NFTs takes place. Once you have an account you can begin buying and selling. Done and dusted.
The value of an Non Fungible Token is unfixed and primarily based on demand. If a large number of traders view an NFT as valuable and then it becomes valuable.
Like any other asset (such as stocks or bonds) if you seek to make a profit, the goal is to buy low and sell high. To begin you will need to set up a Cryptocurrency Wallet. A crypto wallet is precisely what it says on the tin, it is a program that acts as a wallet for your crypto keys and NFTs.
Following that, you need to set up an account with an NFT Marketplace (such as OpenSea), where the trading of NFTs takes place. Once you have an account you can begin buying and selling. Done and dusted.