There are two types of NFT traders. Type A is the newer trader and type B is the experienced trader. There are a few factors that differentiate trader type A and trader type B, but the main factor is most likely to be that trader type A does not use any NFT trading tools, platforms or softwares, whereas trader type B uses every tool available.
To even stand a chance of competing in the NFT space, using tools is an absolute must. The biggest advantage of using tools is access to charting, data and statistics. Trader type A will enter trades blindly, exponentially increasing their chances of being used as exit liquidity (losing). Trader type B will use a tool to identify support, resistance, sell walls, and the number of tokens listed. By doing this, they will have a much greater chance of timing their entry and exit, increasing their chances of making money with NFTs (winning).
Without further ado, let’s take a look at the best tool to make money with NFTs.
There are many great NFT trading tools, however, NFT Nerds has always been a very strong choice. NFT Nerds provides a real-time view of what is happening within a project. By looking at the dashboard of a project, you can quickly get a feel for which way the direction is going. By looking at the charting software, you are able to identify a support and resistance, and also the general trajectory of price movement.
NFT Nerds also shows sell walls, which essentially means the number of tokens are between two price points. By knowing if sell walls are thick or thin, you can look at the current sales volume and decide whether it is strong enough to take you from your target entry price to your target exit point.
Also, NFT Nerds shows listed items faster than OpenSea, which allows you to be one step ahead of the competition. Additionally, you can make purchases directly from NFT Nerds, which takes roughly 4 seconds from spotting a listing to approving the transaction. There are many other features, such as manually speeding up gas fees and more.
Ultimately, using any NFT tool, not just NFT Nerds, gives you access to an arsenal which others do not have. Be sure to take advantage of them to increase your chances of success.
For tips on how to trade NFTs, read our exclusive interview with one of the most successful NFT traders in history.