NFT How To
How do I buy NFTs ? This can look complex, but it is actually quite simple. The idea is to:
- create an online account
- transfer euros or dollars to it by wire transfer or credit card
- change these euros or dollars to cryptocurrency (tezos, bitcoin, ether, etc..)
- create an online wallet and tranfer cryptomoney to it
- use your wallet to buy things
Here are the details :
- Create an account on one of the main exchange platforms and send money to it.
- These accounts are like a bank account, but online. The most known plaforms are : Coinbase, Kraken, Binance. Choose the one you prefer and open an account.
- When you have an account, send money to it (Euros or Dollars). You can do it using wire transfer from your usual bank account, or with your credit card. Follow the instructions on the platform site. You may need to validate your account by sending a scan of your ID. There is a small fee for the transaction (a few %).
- You now have an online bank account with money on it, in Euros or Dollars. Note that these traditional currencies are called Fiat in the crypto world.
- Buy cryptocurrency (Tezos)
- For the teia.art, you need the Tezos currency. The Tezos currency is ecofriendly. It can also be used on other NFT plaforms like openSea.
- On your exchange platform: buy Tezos (code : XTZ). Follow the plaform instructions. One Tezos (at the time of this writing) is about 5 Euros. You may have to wait 72h after your first deposit of Fiat money to be able to buy cryptomoney.
- You now have Tezos in your online account of this exchange plaform. You are now a cryptotrader. You can follow the exchange rate of Tezos to Euros change day after day. I advise not to stress to much about this.
- Create a wallet to put your money in and be able to buy things (like in real life)
- There are a few wallets existing. The Temple Wallet is handy for Tezos. It is a wallet that lives inside your browser. There is also the Kukai wallet.
- Install a wallet. Follow the instructions.
- Take note of your wallet unique name (starts with “tz1…”)
- Go to your exchange platform and send money to your Temple Wallet (using its name). This may take a few minutes to arrive.
- You now have Tezos in your wallet.
- Buy things, for example on teia.art
- Go to teia.art. Click on the ‘sync’ button to link your wallet to TEIA.
- Follow the main page for the latest artworks published. Look online for artists selling on TEIA. It is not easy to find artists, but that’s the sport. That’s the life of collectors.
- When you are on a page of a TEIA artist, like mine, you can choose an artwork and click on it. If it has the ‘collect for XXX tez’ button, you can buy the artwork.
- If you click on the ‘collect’ button, your wallet will ask you to validate. When you validate, the money is transferred from you wallet to the wallet of the artist, and the artwork becomes yours. It appears in your collection.
- You can watch your collection from your TEIA account, online and in your browser.
- buying an artwork is a way to support the artist and help him produce new works
- you can also play the art market and resell artwork, but that’s another sport