The Risks Involved with Trading NFTs!
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This video goes over the risks and rewards of buying and selling NFTs on marketplaces like OpenSea. While I believe there is an incredible opportunity in buying and selling NFTs right now, I'm also seeing levels of greed that make me pretty fearful over people putting in money they can't afford to lose, and then losing everything they've saved up.
When dealing with NFT sales your not only dealing with the volatility of an illiquid asset, you're also dealing with the volatility of the cryptocurrency that NFT is being sold in. Add those two factors in, and you should really only be putting in money that you can afford to lose. Hopefully this video can help prevent some others from taking nasty losses.
Have any questions about what you've seen in the video? Feel free to leave a comment!
Intro - 0:00
Huge Profit Example - 0:27
Examples of Huge Losses - 2:13
Conclusion - 4:57
#NFT #Crypto #OpenSea
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