How to buy NFTs on Magic Eden

This article provides a guide on how to purchase an NFT (Non-Fungible Token) on Magic Eden's platform. Whether you prefer making an offer or buying at a fixed price, we've got you covered. Follow the steps below to start your NFT collection!

Buying a Fixed-Price NFT

Connecting Your Wallet

Before you can proceed with the purchase, ensure that your wallet is connected to Magic Eden. This step is crucial for a seamless transaction.

Choosing a Wallet Option

Magic Eden offers various wallet options for your convenience. Select the wallet that suits you best.

Connecting to a Phantom Wallet

In this example, we will guide you through connecting to a Phantom Wallet. Feel free to choose another wallet if it better suits your needs.

Purchasing the NFT

On the NFT's item page, locate the "Buy Now" button. Click on it to initiate the purchase process. Follow the prompts provided by your wallet to complete the transaction.

Confirmation of Purchase

After clicking "approve" in your wallet, a confirmation message will appear, indicating that your purchase was successful.

Making an Offer

Magic Eden offers you the unique opportunity to place unlimited bids on NFTs with ease. Follow these steps to understand the process:

Deposit Funds to the Bidding Wallet

To begin, deposit an amount, such as 5 Sol or any preferred value, into your bidding wallet. This initial deposit will enable you to place unlimited bids at 5 Sol or below for any NFT you desire. Surprisingly, you could have over 100 Sol worth of bids active while only investing 5 Sol in your bidding wallet!

Placing Bids

Once your bidding wallet is funded, you can start placing unlimited bids on NFTs. Be sure to select the correct option to utilize this feature properly. By doing so, you can place bids without incurring any charges. Feel free to repeat this process as many times as you like until a bid is accepted or you withdraw funds from the bidding wallet.

What Happens When an Offer Is Accepted?

Let's explore the outcome when one of your offers gets accepted:

If your bid for 5 Sol is accepted, the 5 Sol will be deducted from your bidding wallet, rendering your other bids inactive due to "insufficient funds." However, don't worry! You still have options to fund the remaining offers.

Funding Options

Click on the three dots next to your bidding wallet to reveal the funding options. Here are the available choices:

• Fund All Offers: This option allows you to fund all remaining offers with a single click.
• Fund Highest Offer: If you prefer to prioritize the highest offer, this option will fund only that particular bid.
• Fund Specific Offers: You can also manually fund individual offers based on your preference.

That’s all! You now have a comprehensive understanding of how to make unlimited offers on Magic Eden. 

Closing Remarks

Congratulations! You have successfully learned how to purchase an NFT on Magic Eden's platform. Whether you make an offer or buy at a fixed price, the process is now within your grasp. Start exploring the world of NFTs and build your unique digital collection today!