NFT Mint: Should You Buy Now or Wait?

May 26

By lourdes

0 comments

NFTs have exploded in popularity during the last few years. Many people love the idea of owning something unique, and love the community aspect of NFTs. This is also a great way for you to diversify your investments. Because NFTs have gotten so popular, many are afraid of missing out if they do not purchase NFTs as soon as they are released. On the other hand, should you get in at the NFT mint? Or should you wait and try to purchase them later? There are several important points to keep in mind.

An NFT Mint: Benefits and Drawbacks

If you decide to purchase an NFT right away, there are a few benefits. Typically, you get the lowest price. This means that you can increase the return on your investment down the road. Furthermore, the earliest purchasers of NFTs might receive a few additional benefits because of their contributions. You might get a vote in the community or get a free item along with your purchase.
On the other hand, you do take a significant risk. There is no guarantee that the NFT will increase in value, and you must have crypto available immediately to purchase the NFT. You don’t have time to save up your money and buy later. However, projects usually announce mint dates with enough time for you to buy crypto and open a wallet. Read our NFT Beginner’s Guide for more details. Keep in mind that depending on the market, you might have to wait for an extended amount of time before you can make a profit on your purchase.

Waiting Until Later: Benefits and Drawbacks

There are some benefits of waiting until later as well. Once the NFT has a longer track record, you will be able to see the market demand, giving you more information you can use to make a potential investment. If you wait until later, you might be able to purchase when the network activity is lower, helping you save money on gas fees.
Of course, the biggest downside of waiting until later is that the NFT could explode in popularity, driving up the price of the NFT significantly. You need to consider this potential risk if you want to wait until later.

What Is the Best Option? 

In the end, there are benefits and drawbacks to both options. NFT Collections rise and fall, so it is difficult to predict which one will be popular. You need to think about your personal financial situation, the popularity of that specific NFT, and what you think the overall market will do in the future. This will help you make the best decision.