Recely, a blockchain programmer ierested in the field of non-traditional tokens managed to turn his 0.6 Ethereum io more than 150 Ethereum by investing in the NFTs market. For those who are ierested in investing in the NFTs market, he has given some advices so that they can have a good experience of operating in this market.
According to CryptoGlobe, on February 14 (25th of February), an NFT trader shared in a long tweet his experience of making money using the exciteme and huge capital that has been released io the NFT market.
This user, who goes by the Twitter alias Cirrus, claims to have made close to $500,000 without using whitelists, bots, or issuing NFTs. He says he’s focused on just two projects in the NFT space, and advises others to follow suit by finding an established project instead of bouncing around.
Whitelisting is a process in which the developers of an NFT project set aside a certain time period for the addresses of their early supporters to be able to register the NFTs of a collection in their name on the blockchain. With this, users can somehow avoid the competition in paying heavy network fees.
Sears has invested in the Lazy Lions collection, whose price has increased by 2.5 times compared to the time of buying the NFTs of this collection in August 2021 (August). According to him, the relatively modest increase in the price of the project shows that smart traders can make a lot of money without the need for the market of a project to rise sharply.
This trader said that investors should study the features and benefits of their chosen project, which may take hours; But this is the “most importa step in the buying process” of an NFT. He said that before he was sure about investing in the Muta Punks collection, he constaly monitored the token list page of this collection for a moh.
Also Read: Iroducing the Largest NFT Markets
Sears said that new investors should focus on their liquidity rather than allocating their eire capital to a single transaction.
Circe wrote on his Twitter:
It is usually always a big mistake to buy all your capital. A minor dowrend and the price of sets bottoming out can hurt you in the short term, and besides, you won’t have any capital to buy cheap NFTs from panicked sellers when the market crashes. Now I get excited when I see a dowrend. Periods when fear prevails in the market are the best opportunities to buy. Buy when everyone is scared and sell when everyone is excited.
He has advised traders to be active in the Discord channel related to the project market to gain the trust of the community members of various projects and a chance to make private deals with them. Sears has said that he has saved 6.5% in fees so far with this type of transaction.
At the end of his speech, Circe said:
Choose a stable project. Become so familiar with price trends that when you look at any of the 10,000 NFTs in a set, you instaly know which one is selling today. Monitor the listing page of NFTs in a collection. Be sensitive to your pricing to sell an NFT quickly. Connect with others and gain their trust.
