How to Mint an NFT Easily: Best Wallets and Marketplaces

HOW TO MINT AN NFT IN EASILY!

Whether you’re a businessperson, a digital artist, or just someone who is interested in the blockchain industry, it’s becoming more and more important to understand NFTs and how to make them, or “mint” them.

The idea of minting NFTs is making waves in many areas, which is resulting in an increase in digital art, virtual real estate, and other things. But it can be very hard to find your way around this new, complicated world without a map.

What does “minting” really mean? How does one make an NFT? How can this process make a digital product that is one of a kind? You might feel scared by these questions, but don’t be!

No matter what you want to know about NFT minting, this article has it all. You can jump right into this revolution with the required knowledge.

What does NFT Mean?

A non-fungible token (NFT) is a digital asset that can be thought of as a token that can’t be traded for another token and is saved on a blockchain. A non-fungible token is a one-of-a-kind item. Its storage on a blockchain just means that it is on a database with an encrypted and distributed record where different copies are kept on different computers.

Blockchain technology makes it possible to prove control and authenticity of virtual goods, so non-fungible tokens and blockchain really are a match made in heaven. All non-fungible tokens are basically the same: they are digital objects that don’t exist in the real world and have a unique ID number and name that are used to recognize them on the blockchain.

What is NFT Minting?

“NFT minting” is what crypto users call the process of making a non-fungible coin on the blockchain. Minting an NFT is as easy as typing the word “mint” into a blockchain. This turns a new token into a non-fungible token. At its most basic level, it is the process of making a digital file into a crypto collectible.

As was already said, once a token is made on the blockchain, it can’t be changed, deleted, or added to. Tokens that can’t be exchanged for cash are mostly made on the Ethereum blockchain, but many other blockchains also accept them.

In the same way that metal coins are made and put into circulation, so is paper money. This process is called minting. When you turn a file into a virtual good on the blockchain, you can now trade with it, which means you can sell your digital assets on an NFT marketplace.

The way that non-fungible coins are made is very different from how other cryptocurrencies are made. There are some differences between minting Non-fungible Token and crypto coins because they need different tools. Adding information about the token to a network, like the Ethereum network, is what minting NFTs is done with a variety of different types of tools.

The Ethereum blockchain is where most non-fungible tokens are built. This lets them store extra information that makes them work differently than, say, ETH coins. Also, you need to be able to connect to the internet on a computer or other device in order to run special software that can make a real token ID number.

How to Mint an NFT

You can make an NFT in two different ways: through an Non-fungible Token website or a smart contract. The first way is to use a minting page, and the second is to use smart contracts. There are some good reasons to use smart contracts directly, even though minting non-fungible tokens from a minting page might be the best way to do it.

Non-fungible Token website minting is thought to be the best and most common way to mint from a project’s website. However, if the website gets too busy, it might experience problems like slowing down or crashing. Regardless, this choice is better for beginners. However, expert users may like minting from a smart contract better because it avoids the problems that come with minting from a website.

To get rid of the complicated technicalities of how smart contracts work, this piece will go over the first method.

Here is a quick list of the steps that most of the big NFT minting sites always take.

1. Connect Your Wallet to Site.

The way to join is easy. You can add things to your Google Chrome browser, like the “Metamask” app. This is the wallet that many NFT systems come with by default. You can now pick a different Web3 wallet on most sites, of course.

When you connect your wallet, the site should make your profile for you immediately. After that, you can give yourself a display name.

2. Upload the File that You Want to Turn into an NFT.

You can make a Non-fungible Token of any picture, song, or video file by going to the site’s “create an NFT” page and then uploading it. It’s important to remember that a non-fungible token is not the digital file itself, but rather a copy of it.

3. Mint your Non-fungible Token.

You can give the digital file or content a title and a description after uploading it. Then, based on the Non-fungible Token site you choose, all you have to do is click the “mint NFT” or “is for sale” button.

4. Confirm the Fees.

All transactions on the Ethereum network are paid for with the digital currency ETH. At this point, a transaction fee or a gas fee needs to be accepted in order to finish the minting process. Gas fees are what you pay to use the Ethereum blockchain. They are not fees that the Non-fungible Token site charges or makes.

5. Wait for the Result.

After you upload the file and pay the fees, the minting process begins immediately. This is because a smart contract runs code that will be used in your digital work on the blockchain. Your Non-fungible Token will be made and shown in your profile once all transfers are confirmed.

How to Create an NFT Wallet

Remember the first step we talked about in the last part about minting NFTs? Which site do you need to connect your wallet to in order to mint?

You’ll need a Non-fungible Token wallet that can store your NFTs and let you share them in order to buy and sell them. After all, the whole point of making NFTs is to show them off, right?

Do not mistake a Crypto Wallet for a Regular Wallet that works like a debit card or a bank. This is a common mistake people make at first. A digital space is one way to describe Non-fungible Token wallet. There are a lot of different kinds of Non-fungible Token wallets, but let’s look at two main types: software wallets and hardware wallets.

Software Wallets

For instance, desktop apps, browser extensions, and mobile apps that connect to the NFT world can all be called software wallets. There is a secret key and a public key in every wallet. The address you use to connect your wallet to digital markets is called the public key. This is the address you can share to receive or buy virtual goods. As the name suggests, the private key should stay secret since it gives you access to the blockchain and virtual assets. The private key works like the PIN number on a bank card.

When it comes to software Non-fungible Token wallets, there are certain things you should look for. As an example, digital wallets with an easy-to-use design are great for beginners because they are simple to understand and very useful. Safety is another important trait.

Since the crypto world is full of scams and other bad people, in part because of all the hype, wallets with a high level of security keep thieves from getting to your virtual goods. Because of this, one of the best things about digital wallets is that they are safe. Support for various devices and cross-chain compatibility are also linked to ease of use.

Hardware Wallets

Physical wallets in the form of USB sticks are called hardware wallets, which are also sometimes called “cold wallets.” In this way, hardware purses are real things. The fact that the data is kept on physical media that isn’t linked to remote servers makes them very secure. Hardware wallets are so safe that they store the private key and protect it with a PIN. No one, not even the owner, knows the secret key.

The bad thing about these wallets is that they cost a lot. This is true for hardware wallets that are a few years old, like the Ledger Nano X and the Ledger Nano S.

There may be some other important differences, especially between software digital wallets. Finally, we could talk about the difference between non-custodial and custodial wallets, since they both have to do with storing Non-fungible Tokens.

If you keep your virtual goods in a custodial wallet, you give other people power and access to them. One easy question that comes up is why you would do something like that in a decentralized blockchain environment. Once more, the answer is pretty easy. Keeping your wallet safe is a lot like using a regular bank. A third party controls your wallet and lets you access it whenever you want.

In exchange, the third party adds an extra layer of security for you. But watch out! There’s a chance that the third party can put limits on your account or even freeze it in certain situations. But non-custodial NFT wallets don’t have a third party, so the people who own them have full control over their funds.

Read further to know more about these wallets in our Cold Wallet vs Hot Wallet review.

The Best NFT wallets

Picking a digital wallet is the first thing you need to do to start minting Non-fungible Token. You can find a short list of the best NFT wallets below:

1. MetaMask

There are a lot of people who use this digital wallet. Since MetaMask lets you make an Ethereum wallet, you can use it to join many NFT markets. It works with the Ethereum blockchain and other networks that are compatible with Ethereum, like Polygon and Optimism. It can be used as a browser tool or a mobile app.

MetaMask’s pros are greater than its possible cons. Users will like the wallet because it is easy to set up and transfers are synced between the mobile and web apps. One of the coolest things about it is that you can switch countries to buy NFTs. One of the problems is that there are a lot of scams out there, like fake MetaMask apps.

2. Coinbase Wallet

Both experienced and new users liked how the Coinbase digital wallet could be used to trade cryptocurrencies. The company that competes with MetaMask the most right now is known for giving full control over digital assets to the owner. This is possible because the user doesn’t have to hold tokens for exchange, and it’s easy to connect the wallet to an exchange account and move assets straight to the wallet.

The digital wallet can be used as an add-on for your computer or as an app for your phone. Like MetaMask, the pros of Coinbase wallet are greater than the cons. In particular, the wallet has a straightforward and easy-to-use interface, works with digital assets stored on the Ethereum blockchain, and can show token amounts across all networks that it supports.

However, the biggest problem is that the wallet in question can only hold Ethereum-based tokens that can’t be changed for other tokens.

3. Trust Wallet

The digital wallet owned by Binance also became very popular very quickly. It now has over 5 million users, making it one of the most famous digital wallets in the crypto market. The most interesting thing about the Trust Wallet is that it can store and manage tokens, but it can’t be used to make deals. Because of this, it’s not a good choice for people who want to buy or sell digital assets.

This wallet has a lot of good points, like a lot of storage choices, an interface that is smooth and easy to use, and the ability to work with multiple blockchains. This app is only available on mobile devices, though, and can’t be used to make purchases. These are also clear cons.

4. ZenGo

People think that the mobile crypto app is a safe and easy-to-use digital wallet that can connect to a lot of different DEFI apps and online markets. The fact that it works with many blockchains, comes with a crypto interest savings account, and has strong security features like biometric protection and three-factor recovery are major pros.

Some problems with it are that it only works on phones and doesn’t have a list of files that it supports.

Marketplaces  for NFT

As soon as you decide to mint Non-fungible Token, you need to link your digital wallet to a store of your choice. Online places where you can buy, sell, and trade Non-fungible Tokens are called NFT markets. On some of these platforms, users can also make NFTs right on the website. It’s important to remember that different platforms offer different benefits when it comes to the tokens they offer, the ways they can be paid for, the fees they charge, and the blockchain networks they support.

The Best NFT Marketplaces

You might find it hard to pick a good NFT marketplace for minting if you are new to the crypto world. Most regular NFT markets these days also offer minting. Here is a quick list of the most well-known ones.

1. OpenSea

OpenSea is the most popular NFT marketplace right now, and it’s a simple and useful site for people who want to mint NFTs. It takes 2.5% of every transaction and gives 10% of the money to the makers as a royalty.

2. Rarible

Rarible is a well-known tool that still believes in decentralization and works with many blockchains. It also has minting benefits. Non-fungible Tokens can be minted for free on the platform thanks to “lazy minting,” and when someone buys a non-fungible token, they have to pay gas fees.

3. Binance NFT

Binance NFT is one of the biggest places to buy and sell cryptocurrencies. For every trade, they only charge 1% of the total amount. You can mint your first ten NFTs for free. After that, it costs 0.005 Binance tokens (BNB), which are worth less than $1 right now, to mint another ten. The platform also has its own blockchain, which is becoming more and more famous as the network of choice for NFT projects.

4. Magic Eden

Gamers like Magic Eden because it has many Non-fungible Token games that players can list for sale right away. There is a chance that the top independent Solana marketplace is like Ethereum-based platforms. The only difference is that it uses the low costs of its blockchain to offer customers a 2% transaction fee and no listing fee.

5. Nifty Gateway

Nifty Gateway is one of the few markets that doesn’t charge gas fees for minting NFTs. It is known for its focus on art and high-priced sales.

Are NFTs a Way to Get Rich?

First, let us say that you shouldn’t think that NFTs will make you rich overnight.

But for a lot of smart or lucky investors, making NFTs has paid off big time. Digital artist, “Beeple” sold an NFT called “Everydays: The First 5000 Days” for a little more than $69 million. You may have heard of him. For some, memorabilia was the lucky ticket that won them the prize. Jack Dorsey, the founder of Twitter, minted his first Tweet and then sold it for a huge amount of money. This is one of the best examples of this.

Not only did non-fungible tokens create a new market for virtual goods, they also gave artists more power and made it possible for them to make more money. When there is a lot of desire for a certain NFT, the price to buy it really does go through the roof.

Also, if you want to get into NFTs but don’t think you can afford to buy one right now, you might want to think about making your own NFT art. To protect your valuable products, you’ll also need to know where to store them and how to make an NFT wallet.

Is it Possible to Mint an NFT for Free?

Most of the time, the answer is no. There is a cost called a “gas fee” on networks like Ethereum for the computing power needed to verify and record the transaction on a blockchain. This is what is needed to mint a non-fungible token.

But some younger platforms and blockchains are looking into ways to lower these fees or move them to different places so that it’s easier for creators to mint NFTs.

Final Thoughts

In the busy world of digital assets, NFT minting stands out as a new idea that gives artists the power to prove the authenticity of their digital works on the blockchain.

Even though the steps look complicated, the process is actually quite simple once you understand them.

The path that NFT minting is taking points to a future that is full of possibilities, asking artists, collectors, and fans to be a part of a world that is always changing.

However, the key to NFT success couldn’t be easier. People will want to buy what you make.

Disclaimer! The advice or assertions offered here reflects the author’s own viewpoints and is prone to change depending on the state of the market. Before buying any cryptocurrency or minting an NFT, you really should do some market research. Neither the author nor this publication (CryptoNeuz) accepts any liability for any financial losses you could suffer.