How to Buy an NFT When It Drops

If you’re interested in an NFT drop, then the collection will most likely have generated enough hype to get you excited. NFT drops can sell out within 10 to 20 minutes – or not at all. What can you do to get your hands on what you want on the chance that the NFT you have your eye on sells out? The hottest NFTs can mean hefty returns if flipped, or the value may increase as time goes on. 

Buying the NFT You Want When It Drops

Getting in on NFT drops (even the super popular ones) isn’t very difficult if you know what to do. We’re here to help you get that special NFT.

What Type of Drop Is It?

There are different NFT drop formats, some of which are time-sensitive.

NFT Auction Drop

An NFT auction drop is similar to real-life auctions, where the highest bidder gets the prize. If you’re looking at this type of drop, then you better make sure you have a lot of crypto ready to go.

Limited Edition Drop

Limited edition drops are ones that can really get your adrenaline racing. There are only a few pieces to go around and it operates on a first-come-first-serve basis. 

Timed Drop

Timed drops are NFT drops that are only open for a set period. Sometimes this type of drop releases however many people NFTs are willing to buy in that time frame. 

Steps to Buy an NFT As It Drops

Find It

The first step to purchasing your long-awaited NFT is to find it. By this point, many of you will have been following the hype leading up to the drop, which means you will know exactly when and where it is happening. 

If you don’t know how to follow the hype, we would suggest connecting with the artist via social media platforms, signing up for newsletters, and following the community. Many NFT marketplaces also advertise future drops on their platform, so check out the big ones that support the project you want.

Get What You Need

If you already know where it will drop, the next step is to prepare all the tools you need. We suggest tracking and analyzing each NFT to verify its safety and legitimacy. Platforms you can use to do this include Crypto.com, BitDegree and OpenSea itself.

You should also get a software or hardware wallet (whichever works for your platform) and fund it with the blockchain crypto the NFT is on. Make sure everything is connected and working correctly so you can swiftly purchase your digital asset without issue. 

Follow Instructions

After you navigate onto the marketplace for the drop, you will have to follow the instructions as you go. How to buy NFTs will vary depending on the type of drop and the platform itself. Again, we suggest connecting your wallet and getting an account set up prior to the drop, so you don’t waste any time when the drops happen.

Conclusion

We know you’re hyped about your NFT drop because there should be a lot of generated excitement around it. The best way to buy an NFT when it drops is to familiarize yourself beforehand with all the necessary information. Set up your account and link your crypto wallet before the big day so there won’t be any hiccups.