How to Collect NFTs in Bitpie Wallet: Achieving Investment and Management of Digital Assets

Table of contents

• Understanding NFTs and Their Value
• 1.1 Application Scenarios of NFTs
• Introduction to Bitpie Wallet
• 2.1 Functions
• Steps to collect NFTs in Bitpie Wallet
• 3.1 Create a Bitpie Wallet
• 3.2 Purchasing NFTs
• 3.3 Connecting Markets
• 3.4 Purchasing and Collecting NFTs
• Manage and display NFTs
• 4.1 Viewing NFT Assets
• 4.2 Transferring Out NFT Assets
• 4.3 Display and Participation in the Community
• Safety Advice
• NFT Market Trends
• Frequently Asked Questions
• What is an NFT, and how is it different from cryptocurrency?
• What should I do if I can't find my NFT in the Bitpie wallet?
• Does Bitpie Wallet support all types of NFTs?
• Verify the authenticity of the NFT
• How to evaluate the value of an NFT?
• Can I resell the NFT?

With the continuous development of blockchain technology, the popularity of NFTs (non-fungible tokens) continues to rise. Whether it’s artwork, in-game items, or even music works, NFTs are changing our understanding of digital assets. As a secure and convenient digital asset management tool, Bitpie Wallet has become the ideal choice for collecting and managing NFTs. In this article, we will delve into how to collect NFTs in Bitpie Wallet, helping you achieve investment and management of your digital assets.

Understanding NFTs and Their Value

Before collecting NFTs, it is first necessary to understand their basic concept. An NFT is a digital asset based on blockchain technology, characterized by uniqueness and irreplaceability. This means that each NFT has a unique identifier on the blockchain, which cannot be copied or replaced. The value of an NFT comes from its scarcity and specific application scenarios, such as art exhibitions, in-game items, and so on.

1.1 Application Scenarios of NFTs

ArtworkAllows artists to sell their works in digital form and ensures copyright protection.

game itemGame companies convert in-game items into NFTs, allowing players to freely trade them across different games.

Digital CollectionSuch as virtual cards and digital collectibles, attracting players and collectors.

Music and MediaMusic works are released in the form of NFTs, creating new revenue models for artists.

Introduction to Bitpie Wallet

Bitpie Wallet is a multi-chain supported digital wallet that can store various cryptocurrencies, including ETH, BTC, and multiple NFTs based on the ERC-721 and ERC-1155 standards. Its security and convenience make it a popular choice among collectors.

2.1 Functions

Secure storageUsers have full control over their private keys, ensuring the security of their assets.

Easy to operateThe user interface is friendly and suitable for beginners.

Support multiple chainsSupports multiple mainstream blockchains, making it convenient to collect and trade different types of NFTs.

Steps to collect NFTs in Bitpie Wallet

3.1 Create a Bitpie Wallet

First, you need to download and install the Bitpie Wallet on your mobile device. After the installation is complete, follow these steps to create a wallet:

Register AccountEnter the required information, such as your email and password, to complete the registration.

Download mnemonic phraseThe system will generate a set of mnemonic phrases. Be sure to keep them safe. The mnemonic phrases are the key to recovering your account.

Set passwordSet a secure password to ensure the safety of your wallet.

During the process of creating a wallet, please ensure that you operate in a secure environment to prevent information leakage.

3.2 Purchasing NFTs

Before collecting NFTs, you need to make sure you have enough cryptocurrency in your wallet, such as Ethereum (ETH). This can be done in the following ways:

Purchase through an exchange:You can purchase ETH through exchanges such as Binance or Huobi, and transfer it to your Bitpie wallet.

Decentralized ExchangeDirectly register and purchase NFTs on decentralized trading platforms such as OpenSea, Rarible, etc.

3.3 Connecting Markets

In the Bitpie wallet, you can access NFT marketplaces through the in-app browser. Here are the general steps to connect to a marketplace:

Open the Bitpie wallet and click on the "Browser" option.

Enter the desired NFT marketplace URL (such as OpenSea or Rarible).

Log in to your marketplace account and allow Bitpie Wallet to access your assets.

3.4 Purchasing and Collecting NFTs

After finding your desired NFT on the market, you can proceed with the purchase:

Find specific NFTs and read related information, such as price, holders, history, etc.

Click the "Buy" button to confirm your purchase information.

Enter your password to confirm the transaction and pay the associated miner fee (gas fee).

After completing the transaction, the NFT you purchased will be directly transferred to your Bitpie wallet. You can view and manage your NFT assets at any time in the NFT section of your wallet.

Manage and display NFTs

After collecting NFTs in the Bitpie wallet, effectively managing and displaying them is an important step. Bitpie wallet offers many features to help users manage their NFTs.

4.1 Viewing NFT Assets

Users can easily view the NFTs they own in the wallet. Simply navigate to the NFT section in the Bitpie wallet, and you will see all your collected digital assets, including detailed information and current market value.

4.2 Transferring Out NFT Assets

If you want to transfer or sell an NFT to someone else, simply select the "Transfer" option for the relevant NFT, enter the recipient's address, and confirm the transaction. Please pay attention to the following points during the transfer:

Ensure the accuracy of the recipient's address to avoid transfer failure.

Pay attention to miner fees, as they may increase during peak periods.

4.3 Display and Participation in the Community

Many NFT collectors enjoy showcasing their collections on social platforms. Bitpie Wallet allows you to share NFTs on major social media platforms. At the same time, participating in NFT-related communities is also an effective way to increase exposure.

Safety Advice

Ensuring the security of your assets is crucial when collecting NFTs. Here are some safety tips:

Regularly back up your mnemonic phrase.Make sure to store the mnemonic phrase in a secure location and avoid sharing it with others.

Enable two-factor authenticationFor exchanges and any accounts involving funds, enabling two-factor authentication increases security.

Keep the software up to dateRegularly check for updates to the Bitpie wallet and install the latest version to patch security vulnerabilities.

NFT Market Trends

The NFT market is developing rapidly, and the following trends may influence the direction of future collections:

What is cross-chain technology?In the future, more cross-chain NFT marketplaces may emerge, enabling NFTs on different blockchains to interact and be traded with each other.

Environmentally friendly NFTWith the increasing emphasis on environmental protection, the trend of green NFTs will become a hot topic.

Legal complianceThe legal framework for NFTs is continuously being improved, and more regulations may be introduced in the future, affecting the behavior of market participants.

Frequently Asked Questions

What is an NFT, and how is it different from cryptocurrency?

NFTs are non-fungible tokens, characterized by uniqueness and scarcity, whereas cryptocurrencies (such as Bitcoin) are fungible, meaning one Bitcoin can be directly exchanged for another. From the perspective of digital assets, NFTs focus more on ownership of specific categories, such as artworks, while cryptocurrencies emphasize transactions and circulation.

What should I do if I can't find my NFT in the Bitpie wallet?

First, confirm that your Bitpie wallet is the latest version and ensure that the connected network is correct. Then, check whether the NFT is on the chain you have selected. If the address is correct but you still cannot find it, try restarting the application or contact support services.

Does Bitpie Wallet support all types of NFTs?

Bitpie Wallet mainly supports NFTs based on the Ethereum ERC-721 and ERC-1155 standards. If you are using NFTs from other blockchains, you need to confirm whether Bitpie Wallet is compatible. At the same time, you should also pay attention to whether the NFT marketplace you are accessing supports transactions of specific types of NFTs.

Verify the authenticity of the NFT

Before purchasing an NFT, you can verify its authenticity by checking the historical transaction records of the NFT on the blockchain, as well as the credibility of the issuer. Usually, reputable NFT marketplaces provide detailed transaction records and proof of authenticity for the works.

How to evaluate the value of an NFT?

The value assessment of NFTs can take multiple factors into account, including scarcity, market demand, and the historical transaction records of the work. Collectors usually refer to the market prices of similar NFTs, as well as the artistic value of the work and the fame of the creator, to make their judgments.

Can I resell the NFT?

Yes, you can resell the NFTs you own. In the Bitpie wallet, you just need to select the corresponding NFT and choose to transfer it out or list it for sale on the marketplace. Please note that when setting the price, you should consider the market conditions and resale fees.

NFT collecting is becoming increasingly popular, and Bitpie Wallet provides users with a convenient platform for collection. By following the steps above, you can easily manage and showcase your own NFTs. As the market continues to evolve, mastering this knowledge will have a positive impact on your digital collecting journey.