I recommend this stuff to wrap around the legs if you still find yourself stabbing your toes. We have it on all the beds/furniture in our house and it's fantastic, you can cut it to size and it sticks to itself/stays in place!
Hell yeah. As far as unsolicited advice goes: invest in a good mattress and pillows as you go. The frame is whatever, but what's under you while you sleep, sit, and walk is very valuable.
I recommend putting a rug underneath so as not to scrape the floor.
Also I broke at least two similar looking bedframes having sex in them, so either don't or just put the mattress on the floor
I'll highly recommend "blue" loctite (removable) or similar. It adds enough friction to the threads to keep them from backing out by themselves, but even a small amount of force from a tool will break it free again.
The true old skool technique is actually a single silk thread through the fastener first. A single old tie from a thrift store will last a lifetime. Silk thread was used in all kinds of things in automotive and aviation before gaskets were really a thing. It is tough, thin, and just plastic enough to deform in very tight compressed spaces, but it must be real silk and not synthetic.
That is one THIIIIC mattress! Get some more pillows for sure. Like 4 minimum, ideally 6.
Also, get a rug for the floor. Much nicer stepping out of bed onto a plush rug.
I just assembled a VERY similar looking one with different materials a couple weeks ago. Mine had a plywood and denim facade around the steel frame, and two dozen 2x4s to support the mattress. I think it was around $200 from a local furniture store. Im guessing they imported it. Lol