NFT Flipping: The Best Way to Make Money with Non-Fungible Tokens
If you haven’t been living under a rock for the past year or so, you must have heard about NFTs by now. While some crypto sceptics are still very suspicious of the NFT market, the numbers don’t lie: Non-Fungible Tokens are a rapidly growing ecosystem, and virtual collectibles have proven themselves to be very profitable.
The point of this article is not explaining in theory what NFTs are – after all, you already know that. So without further introduction, let’s take a look at what is NFT flipping, and how you can use it in practice to quickly improve your personal finances.
forget hodl-ling, flipping is how you make a profit
The first thing every crypto investor learns is to HODL – just keep your coins and tokens in your wallet and be patient. Don’t sell when the prices temporarily go down and keep waiting, and eventually your small initial investment will turn into millions of dollars.
The above advice is very reasonable. Numerous people have become wealthy simply by buying some cryptocurrency early on and not touching it for a couple years. For example if you’ve purchased some BTC 2 years ago or 5 years ago and didn’t sell it, you definitely made a lot of profit
So what’s the catch?
The problem is, HODLing is a great investment strategy – but it completely doesn’t work when applied to the NFT market. And that’s why the most successful NFT enthusiasts are flipping NFTs instead of HODLing them.
The concept of NFT flipping is simple. You buy some NFTs and wait for a short while until they grow in price. When that happens, you sell your NFTs, and buy some new NFTs. You can repeat this process as long as you want, increasing your capital with each “flip”.
In theory, you are just a few flips away from turning a modest initial investment into a lot of money. But how to be sure that you are flipping NFTs in the most profitable way?
HOW TO SUCCESSFULLY START NFT FLIPPING
The main idea behind NFT flipping is really simple – buy low and sell high. But mastering NFT flipping might take some time. However, remembering a few simple rules will allow you to start making money by flipping NFTs in no time.
1. Find an Undervalued Project
If you want to make real profit with NFTs quickly, don’t look for the largest or the most successful projects. Instead, try finding small, less-known projects, especially those which have launched very recently.
2. Don’t HODL Too Long
If you bought some undervalued NFTs and made a profit, don’t get carried away. If you gained a 50% or 100% return, don’t wait for a 300% return – better sell your NFTs now and reinvest your funds in a new project.
3. Keep Flipping!
If you bought some cheap NFTs and sold them shortly after for a higher price, you already know the basics of NFT flipping. Now all you need to do is to keep doing the same thing. As long as you keep moving your funds from one NFT project to another, NFT flipping will be a very efficient method of making profit with Non-Fungible Tokens.