CryptoPunks were amongst the earliest NFT projects created on the Ethereum blockchain so you might not be the only one interested on knowing how to buy CryptoPunks NFT.
The collection consists of 10,000 24×24 pixel portraits that were generated using an algorithm. They feature random attributes such as a person wearing a hat or smoking a pipe.
While initially, it was possible to acquire an original CryptoPunk NFT free, the rising demand for NFTs has sent the price through the roof. If you still wish to buy a CryptoPunk NFT, here is how to go about it.
How to Buy CryptoPunks NFT
1. Create a Wallet
The first step to buy CryptoPunks NFTs is to have a wallet, If you do not already own a crypto wallet, you need to create one.
Since CryptoPunks are Ethereum NFTs, they are bought and sold in ETH.
Before you can buy some CRyptoPunk NFT, you need ETH to do it. The ETH will need to be stored in an ETH wallet, which is why you need an ETH-compatible wallet.
Popular ETH wallets are Trust and MetaMask. To create a MetaMask wallet, visit https://metamask.io/ and follow the simple onscreen instructions to set up your wallet.
2. Buy ETH
To purchase ETH, you will need real dollars, which you exchange for ETH. Download the official MetaMask wallet for iOS or Android devices.
- Import the wallet using the seed phrase and Login using your password.
- On the app’s homepage, you will see the options to “Receive,” “Buy,” “Send”, or “Swap’.
- Click “buy” and the Buy ETH using Bank Transfer
- Follow the instructions on the introduction pages and choose “Continue to purchase ETH”
- Pick the amount you wish to purchase
- Click “Buy Now”
- Enter your email and verification code
- Enter your payment details to complete the purchase
3. Buy Your CryptoPunk NFT
With ETH in your MetaMask account, you can now buy CryptoPunk NFTs. The value of a CryptoPunk NFT is over $100,000. Thus, ensure that you have enough funds to make the purchase.
Before buying CryptoPunks, ensure that your browser is connected to the MetaMask account. After that, visit the official CryptoPunks site.
Browse through various characters and check their attributes before you make your decision.
Once you are ready to make a purchase, visit the “For Sale” section where thousands of CryptoPunks are listed for sale.
Once you settle on a character, simply click on them and the buy/bid option will appear on their page. You can now simply use your MetaMask wallet to complete the purchase.
Since the purchase is so valuable at hundreds of thousands of dollars apiece, you must know how to store the NFT securely.
Ensure that you consult wisely on how to store the NFT to ensure that it does not get lost.
For most people in the crypto industry, cryptocurrencies are viewed as a better investment than NFTs.
However, the rising interest in NFTs has pushed their value through the roof. As demand keeps rising, those prices will continue rising.
As a first investment, it would be better to invest in an NFT that costs a few dollars. It will ensure that you fully understand how to buy one and store it securely without risking too much.