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nfts for beginners

How do I get setup to buy my NFT?

Why a Wallet?

To hold and use any digital assets including digital currency - you need a wallet. This wallet is used exactly like your wallet irl. Depending on the network you’re using - the experiences will vary. Your wallets on each address will have their own public address something like a long string of numbers and letters which you can share with folks to receive tokens.

Different types of Wallets

Hot Wallets

MetaMask — which we will give instructions on setting up later — is a hot wallet because it is a web browser extension, and lives online.

Another example is Rainbow wallet. You can load crypto on these wallets directly from the browser extension, or you can transfer from a custodial wallet (such as Coinbase).

You can use these hot wallets to mint and buy NFTs from secondary marketplaces like OpenSea. In hot wallets, you hold the private key — otherwise known as the seed phrase.

Cold Wallets

These are physical devices such as Trezor and Ledger. These are wallets which you also own the private key (seed phrase) to, but you must have the device physically connected to your computer in order to interact with the tokens in the wallet. This “cold storage” increases security and reduces risk for a malicious actor to get access your most valuable crypto assets.

Setting up Ethereum Wallet Guide

Step 1: Install MetaMask

Visit

MetaMask - A crypto wallet & gateway to blockchain apps⁠

Rainbow.me⁠

to install and create a wallet.

We will create a new wallet and Secret Recovery Phrase (also known as a seed phrase).

Step 2: Create your MetaMask or Rainbow Password

After you create a wallet, you’ll be asked to create a password. This will allow access to your wallet instantly. Please note this is different than your secret recovery phrase (or seed phrase). Note: Your password should be unique to your crypto wallet to protect your assets..

IMPORTANT: Let’s Talk About Seed Phrases

When you set up your wallet, it will give you a list of words in a particular order. This is your private key to your wallet, or your seed phrase. Write this down on paper and keep it in a safe place. If you lose this seed phrase, you lose all access to your wallet, all NFTs, and all crypto in your wallet.

The seed phrase is different than your password. If you forget your password or change computers, you will need your seed phrase to recover your wallet.

As long as you have the seed phrase, you have the private key to interact with your NFTs and crypto in your wallet. That’s why it is so important to keep it extremely confidential.

Step 3: Save Your Seed Phrase

Next, you’ll reveal your seed phrase that is attached to this wallet. As noted above, when this is revealed, this phrase should be stored safely in a physical (like a safe).

You’ve got your wallet setup now. If you want more, here’s two youtube video for you on Rainbow and MetaMask

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Setting up Solana Guide

This time you use

phantom.app⁠

as your wallet, purchase on

magiceden.com⁠

, and check ranks on . Why? Well, Solana is a completely different blockchain than etheruem thus you’re going to be using very different platforms (or dApps) to interact and utilize. I’ll be covering alternative blockchains in

alt1 blockchains⁠

Step 1: Setup your Phantom Wallet

Visit

phantom.app⁠

, we will create a new wallet just like we did in Ethereum. Secret Recovery Phrase (also known as a seed phrase).

Step 2: Create your Phantom Wallet Password

Step 3

Save Your Seed Phrase

Next, you’ll reveal your seed phrase that is attached to this wallet. As noted above, when this is revealed, this phrase should be stored safely in a physical (like a safe).

You’ve got your wallet setup now. If you want more, here’s two youtube video for you on Rainbow and MetaMask

Once again, here’s a video to make this easier to start on 👇

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Next ➡️
`How do I make sure I’m buying something valuable and secure?`⁠

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How do I get setup to buy my NFT?

Why a Wallet?

Different types of Wallets

Setting up Ethereum Wallet Guide

Setting up Solana Guide

Next ➡️ How do I make sure I’m buying something valuable and secure?⁠

Next ➡️
`How do I make sure I’m buying something valuable and secure?`⁠