Satoshi’s Girls: 30 NFT Tips & Tricks
In this article, we will cover 30 NFT tips & tricks to help anyone learn, thrive, and flourish on their NFT journey.
Lets jump in…
#001
Get on Twitter! Twitter hosts a complete assortment of personalities. This is the main platform that brings the whole space together and you will get a sense of the zeitgeist in NFT space. Follow certain influencers & buyers. Don’t forget some of the tools that are at your disposal on Twitter. You can create lists to organize your common topics. Engage in Twitter spaces to see who the people you like & follow are thinking and saying in real-time.
#002
This one is simple… Don’t FOMO buy anything!
#003
…Don’t FOMO sell anything!
#004
Take advantage of gas when it is low to maximize profits. If you want to pay the lowest Ethereum fees, you should perform transactions between 9 and 11 pm UTC (dappradar, 2022).
#005
Set a time limit when listing your NFT! This way you will avoid incurring GAS fees when changing or canceling your listing. This wasted money can build up into a big loss. Setting short durations works best and in a turbulent market with a fluctuating floor, this will work in your favor.
#006
Always list above the floor.
#007
This is a new and exciting space, where you will meet like-minded people so don’t forget to have fun!
#008
The NFT market is volatile. Only spend what you can afford to lose.
#009
Invest in a hardware wallet (Ledger is recommended) for your long-term holds. A hardware wallet keeps your private keys offline and inaccessible to digital threats.
#010
Join a project’s Discord before your purchase. Get a feel for the community and see how active it is.
#011
Consider the rarity levels when purchasing an NFT. Often, rarer NFTs go for a more premium price since they are more unique. What makes an NFT rare? It’s Traits. Traits under 1% are extremely rare.
#012
Turn your email notification on once you have listed an item. The platform you are using will inform you of relevant occurrences or activities, such as offers from different buyers. MetaMask does not notify holders if a sale happens.
#013
Don’t overexpose in a single project. A diverse NFT portfolio will minimize your risk.
#014
Stay liquid. You never know what opportunity awaits around the corner.
#015
If you lose money on an NFT, it’s not the end of the world. Be smart and only use what you can afford to lose.
#016
If you believe in a project and have the funds available, buy 2 NFTs. If you are anything like us, you like to HODL. This allows you to HODL one and sell the other to stay liquid.
#017
Buy NFTs you visually love. If you lose money on it, at least you got some art you can enjoy.
#018
Find your community! It may take some searching, but when you find your family, you’ll know. A community you love makes your NFT journey that much better!
#019
Look for a good distribution of unique token holders. Close to 40% or higher we recommend.
#020
Have a plan! That might be, HODLing or selling at a certain price. Just know the reason you bought in and stick to it. Circumstance may change your plan but don’t FOMO Sell.
#021
Understand the reason why you are buying into a project? Buying the Utility? Investing in the artist? Flipping NFTs for profit?
#022
Don’t engage in private sales. Use OpenSea or your preferred marketplace to do a private sale.
#023
Do your own research. Don’t follow the crowd.
#024
If you’re hesitant to sell, that’s your gut telling you not to sell!
#025
A sure way to increase your NFT profit potential is to buy from the floor. These will be the lowest-priced NFTs.
#026
Buy and collect NFTs you believe in. As humans, we heavily research more into things we love. If you love an NFT category or specific projects, you will have better insight and knowledge when it comes to buying into a profitable project.
#027
This space is continuously evolving. Keep yourself updated!
#028
Be aware of bots on OpenSea. A lot of WETH bids you receive will be bots offering a fraction of the value. If you are thinking about accepting the bid, do some investigating first.
#029
Be patient.
#030
Lastly, go out there and enjoy yourself! No one is perfect. If you make mistakes, learn from them and grow! We’re all still so early in the space.
We hope you found this article useful! If you want to stay up-to-date with all things Satoshi’s Girls, be sure you follow our socials!
Sources: https://dappradar.com/blog/when-are-ethereum-gas-fees-lowest
