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How to buy your first NFT on JPG Store
How to buy your first NFT on JPG Store

A step-by-step guide to setting up everything you need.

Updated yesterday

You can buy your first NFT within minutes with four easy steps:

  1. Set up a Cardano Wallet

  2. Fund that wallet

  3. Look for an NFT, and

  4. Buy it đŸ’«

Step 1: Set Up a Cardano Wallet

When diving into the world of NFTs on Cardano, the first step is to set yourself up with a wallet compatible with the Cardano blockchain. This wallet is essential as it will be where you store your digital assets (NFTs) and the Cardano tokens (ADA) you'll use to make purchases.

There are two way to set up a Cardano Wallet:

  1. The Beginner way: Sign up using your social logins such as email, Discord or X account and have a wallet created for you - more details here

  2. The Advanced way: Set up a wallet using a wallet provider and seed phrase - more details here

Step 2: Funding your Cardano Wallet

Once you’ve set up your wallet using either way, the next step is to fund it. Funding your wallet means adding ADA to it, much like you would add funds to your bank account. Just like your bank account has an account number you need to receive money, your Cardano wallet has a wallet address you can use to receive ADA.

If you’re new to Cardano, you will first have to buy some ADA and then transfer them into your wallet.

Purchasing ADA

To buy ADA, you'll need to use a cryptocurrency exchange. Platforms like Binance, Coinbase, OKX, and Kraken are popular choices that offer a user-friendly experience for both newcomers and seasoned traders. These exchanges allow you to purchase ADA using fiat currencies (such as USD, EUR, or GBP) or trade them for other cryptocurrencies you own.

Here’s a simplified process:

  1. Create an Account

    1. Sign up for an exchange of your choice.

    2. Complete KYC (Know Your Customer)

  2. Deposit Funds

    1. Add money to your exchange account via bank transfer, credit/debit card, or any of the available methods.

  3. Buy ADA

    1. Once your account is funded, navigate to the market or trading section on the exchange.

    2. Search for the ADA pair that matches your deposited currency (e.g., ADA/USD if you've deposited US dollars), and execute a buy order.

Transferring ADA to your Wallet

After purchasing ADA, the next step is to transfer your funds from the exchange to your Cardano wallet. This ensures that you have complete control over your ADA, which is essential for security reasons and for engaging with NFT marketplaces on Cardano. Here's how:

  1. Locate Your Wallet's ADA Address: Open your Cardano wallet and find your ADA receiving address. It's a long string of letters and numbers, essentially your wallet's public key to which funds can be sent, similar to an account number to a traditional bank account.

    1. If you created your wallet using an email, the wallet's address can be found in your JPG Profile.

    2. If you created your wallet using a seed phrase, the address can be found within the wallet application itself.

  2. Withdraw From the Exchange: Go back to the exchange, navigate to your ADA holdings, and select the withdrawal option. You'll be asked to enter the receiving address from your wallet. Carefully copy and paste your wallet's address, double-checking to ensure it's correct to avoid losing your funds. It is advisable to try out a test transaction with a smaller amount first.

Step 3: Explore NFTs on JPG Store

Now that your wallet is funded and connected to JPG Store, the homepage can help you quickly find top collections. The homepage is designed to showcase top collections, featured artists, and trending NFTs, providing a curated entry point for newcomers and seasoned collectors alike.

Browsing by Category

JPG Store organizes NFTs into various categories, which are available at the bottom of the homepage. This categorization helps users navigate the platform more efficiently, allowing for a more focused exploration of NFTs that align with specific interests or investment strategies. Whether you're passionate about digital art, looking for unique gaming assets, or interested in virtual real estate, browsing by category can help you find your next prized possession or investment opportunity.

Finding NFTs with Specific Traits

For those who have a clear idea of what they're looking for, JPG Store offers robust filtering tools that allow you to search for NFTs based on specific traits. This feature is handy when looking for rare or unique items within a collection. Traits can include visual characteristics, rarity levels, and other attributes that make an NFT stand out. By utilizing these filters, you can refine your search and discover NFTs that catch your eye and potentially be valuable additions to your collection.

Leveraging Collection Offers

If you're interested in a particular collection but can't find the exact NFT you want listed for sale, JPG Store provides the option to send a collection offer. This feature allows you to make an offer on any NFT within a collection, even if it's not currently on the market.

Step 4: Buy the NFT

After pinpointing the NFT that catches your eye, securing it is straightforward. Simply click on "Buy With ADA", sign the transaction with your password, and viola - the NFT is now yours.

But what if the NFT you're eyeing isn’t listed for sale, or perhaps it’s priced beyond what you’re willing to pay? JPG Store offers a solution by allowing you to send offers directly to the NFT's owner.

  1. Sending an Offer: Go to the NFT you’re interested in and see a button called “Make Offer”. Click this, and you’ll be prompted to enter the amount of ADA you’re willing to pay.

  2. Owner’s Response: It's a waiting game once you submit your offer. The owner will receive a notification of your offer and can accept, decline, counter offer or ignore it. It’s essential to remain patient during this period, as owners might not check their offers frequently.

  3. Offer Acceptance: If the owner accepts your offer, you’ll be notified, and the transaction process will be processed as usual, with your offered ADA being exchanged for that NFT.

Making an offer can be a strategic way to acquire an NFT at a price that works for you, especially in a dynamic market. It opens the door for negotiation and can sometimes lead to acquiring a prized digital asset for less than its listed price.

Optional - Confirm Ownership

This last step is not necessary, but it’s always nice to see the NFT you’ve bought in your possession. You can do this easily by visiting your profile's “My NFTs” tab.

Once you've successfully navigated purchasing an NFT on the Cardano blockchain, the final step—while not strictly necessary for the transaction's completion—is undoubtedly the most rewarding. It's when you see and appreciate the digital asset you've acquired. Here's how to relish in the ownership of your new NFT and verify it securely:

Viewing Your NFT

After the purchase, you’ll likely want to view your newly acquired NFT. You can do this easily by visiting your profile’s “My NFTs” tab.

Verifying Ownership

While seeing the NFT in your collection is thrilling, verifying its ownership adds security and satisfaction. After all, this is what web3 is all about.

Here’s how you can confirm that the NFT is indeed yours:

  1. Wallet’s Transaction History: The most straightforward way to verify ownership is by checking the transaction history in your wallet. You should see the recent transaction that transferred the NFT to your wallet. This record serves as proof of the transfer and, by extension, your ownership.

  2. Using a Cardano Blockchain Explorer: For an even more detailed verification, you can use a blockchain explorer. These tools allow anyone to view transactions on the blockchain, offering transparency and proof of ownership. By entering your wallet address or the transaction hash into a Cardano blockchain explorer, you can see the recorded transaction of your NFT purchase. This confirms that the NFT is yours and provides immutable evidence of the transaction on the blockchain.

The following steps are entirely up to you, with the NFT securely in your possession and its ownership verified. You can hold onto your NFT as part of your digital collection, display it in virtual galleries or social platforms, or even consider selling it on the secondary market if its value appreciates over time. Many NFTs also come with additional benefits, such as access to exclusive content, events, or communities, enhancing the value of your digital asset beyond the art or item itself.

Purchasing an NFT on the Cardano blockchain is more than just a transaction; it's an entry into digital collectibles and the broader web3 ecosystem. By taking the time to view, verify, and enjoy your NFT, you're not just owning a piece of digital art or content but also embracing a new form of digital ownership and community participation.

Congratulations on your new acquisition—may it bring you joy, connection, and possibly even a return on investment.

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