How To Buy Bored Ape Yacht Club NFT? A Step-By-Step Guide For Beginners
Looking for a million-dollar profile picture for your social media accounts? Then Bored Ape Yacht Club is the best fit for you. Do you know why this Bored-looking ape is so famous? Also, what makes these weird NFTs worth the million? Wait! If it is so famous, can you buy it? Oh!! Too many questions. But don’t worry, this blog will guide you step by step on how to buy Bored Ape Yacht Club NFT.
Bored Ape Yacht Club was launched in April 2021 by developer Yuga Labs. The Bored Ape Yacht Club is a collection of 10,000 ape avatars having bored expressions. Initially, NFTs vouchers were provided to the users but the project didn’t get much attention and remained unsold. But once the art was launched and users saw NFT art, the project sold out quickly.
Now, bored Ape Yacht Club is the most famous NFT collection. But how to buy Bored Ape Yacht Club NFT? Don’t worry, we will be guiding you step by step on how and where to buy Bored Ape Yacht Club avatars, their cost, and benefits. You will also be guided to a website that provides multiple services in the blockchain.
How To Buy Bored Ape Yacht Club NFT?
Bored Ape Yacht Club is also known by BAYC, that you are interested in buying NFTs, one of the most popular and exclusive projects. This club gives users rights and this club is working to create the future of entertainment.
Well, before going for how to buy Bored Ape Yacht Club NFT, you should know From Where You Can Buy Bored Ape Yacht Club NFTs? So, here you go!
From Where You Can Buy Bored Ape Yacht Club NFTs?
There are many third-party websites, but some of them might be scams too, so we will be focusing on the most authentic websites only. You can trust the two websites:
- Bored Ape Yacht Club official website
- OpenSea
Also Read, 9 Different Types of NFTs Explained With Examples
OpenSea is the world’s first and the largest NFT marketplace. As all NFTs are sold out on the official website of BAYC, we recommend you to buy from OpenSea. Don’t worry this blog will take you to step by step, just follow the steps on how to buy Bored Ape Yacht Club NFT :
Step 1: Open An Online Account
The first and the foremost step of how to buy Bored Ape Yacht Club NFT is to Open an Online Account. To do so, open your browser and search for OpenSea. You can also download the OpenSea extension on Google Chrome for ease of use.
Once you are there on the website, look at the top right corner and you will find the create option. This will show you that you need an Ethereum wallet. This wallet is an application that allows you to interact with your Ethereum account. This is similar to an internet banking application but with a bank. You can check balance, perform transactions, connect apps, etc.
Bored Ape Yacht Club NFTs are hosted on the Ethereum chain which is why you need Ethereum to buy these Apes. There are different trading platforms where you can open your account.
Gemini Trust Co., Coinbase Global Inc., Webull Financial LLC, and e Toro are some of the best in security and low fees.
Once your account is active on any of the trading platforms, the next thing is to buy an ETH. Now, you need a place where you can store your ETH and NFTs. This place is called a wallet or more specifically a crypto wallet.
Step 2: Open A Crypto Wallet
This is the place where you can keep your crypto secure. There are different types of wallets like hosted wallets, non-custodial wallets, and hardware wallets. Some of the popular crypto wallets are MetaMask, Coinbase wallet, WalletConnect, Fortmatic, etc. The most common software wallet used in OpenSea is MetaMask. This is one of the best NFT marketplaces where most investors buy and sell NFTs.
- To open a MetaMask account is easy.
- You can download MetaMask as your browser extension.
- Once you are on the MetaMask website, Click try it now.
- Then you have to create an account in MetaMask
- Start depositing funds in your account.
If you are a keen observer and want to invest in NFT, but do not know much about them, then you must read, 9 Different Types of NFTs Explained With Examples
Step 3. Deposit Funds In MetaMask Wallet
The ETH you have already purchased on trading platforms is to be stored in this wallet now. To do that you have to find your MetaMask wallet address in your profile. This wallet address is 64 digits long made of a combination of letters and numbers. You have to copy this address and paste it on the Send option of your trading platform. After this just enter the amount you want to transfer to your wallet. This will take up to 30 minutes so be patient.
You have to pay gas fees for your ETH to reflect in your wallet. $10 is a decent fee to pay as transaction charges but it might be more. So you can wait for the optimum time when your fees are decent. Usually, prices are down during the night and on weekends.
Step 4: Purchase Your BAYC
Finally, you are ready now to log in to OpenSea!
You came through a long journey to reach this step. This is the final step of how to buy a Bored Ape Yacht Club NFT. Now, you just have to connect your wallet with OpenSea. After that, you have to search for your favorite NFT. If you see a “buy now” price, then you can buy it right now.
Some NFTs have bid on them. If you get to know about such NFT, then you have to bid for them and wait for the seller. If the seller accepts your bid, then that ape NFT will be stored in your wallet.
Why OpenSea?
You might be wondering why we recommended you to buy Bored Apes NFTs from OpenSea.
Well, OpenSea is also known as a decentralized app (dApp) which means an interface that connects users to the blockchain. Here are some important features of OpenSea.
Selling or Buying NFT might seem easy, but it is risky too! So, here are the 10 Important Things To Consider Before Buying And Selling NFT!!
Over 20 million user-owned assets are currently listed on the OpenSea terminal. These millions of users-owned assets include:
- Art
- Virtual worlds
- Collectables
- Sports
- Utility
- Trading cards
- Domain names
All these assets and services are on just one platform.
Wrapping up
This blog on how to buy Bored Ape Yacht Club NFT, guided you along the whole process from setting up your account to buying a Bored Ape NFT. Once you buy these NFTs you will enjoy several benefits like unlimited community access and much more benefits of membership.
The current floor price of BAYC NFT is 72 ETH which makes almost $242,000. As per NFT status, the average price of BAYC is $286,000. The OpenSea sales of the Bored Ape Yacht Club NFT collection have surpassed $1 billion.
Featured Image Credits: Bitcoin News
