What are the risks with NFTs?

Here we will talk about the downside of NFTs.

Well….the best way to avoid making mistakes with an NFT is to just watch alot of youtube videos and spend some time simply viewing nfts on sites like OpenSea and don’t buy anything for a while.

The process of buying on a common site like OpenSea with Metamask is to put some crypto like Ethereum on your wallet and then go onto OpenSea and look for NFTs.

Some of your risks are

• you might buy a fake NFT so look for a “verified” symbol on some of the better ones
• you may pay too much in gas fees
• you may miss out on drop purchases by clicking on the wrong areas

A site called BlockNative is a good simulation online tool to figure out how much you would be paying for gas fees before you commit to a purchase.

(under construction Dec 16, 2021)