Now that you know how to set up your MetaMask wallet, you need to fund it. Buying cryptocurrency is actually quite simple. Cryptocurrency is available to buy through various platforms; the one I use is Coinbase. Coinbase functions like a brokerage house where you can buy, sell, and trade your cryptocurrencies. Coinbase also offers a wallet where you can store your crypto and NFTs like MetaMask does.
As I mentioned in the last Newsletter, Ethereum is the native cryptocurrency for the majority of NFTs and NFT collectibles. I will be using Coinbase as an example, so to get started, create an account.
This is a simple process, enter your personal information and confirm it. Then confirm your email address and lastly, they will ask you a variety of questions to verify your identity due to regulatory laws.
Now you’re set! On the left side of the screen, Coinbase will incentivize you to do some of the training and learn about their offerings. That’s up to you. On the top right corner, you can click the link to add a payment method. Coinbase accepts most major banks through a partnership with Plaid, but you can also use PayPal, Debit Cards, or a Wire.
After you’ve connected a payment option for funding, you are ready to purchase some Ethereum. Click the Buy button and a pop up will allow you to select a variety of options.
Once you select your dollar value and proceed to the preview, you will see exactly how much Ethereum you will receive as well as the Coinbase fee broken out.
After reviewing and clicking the Buy now button, your transaction is complete, and you are now the proud owner of some Ethereum. You can trade it immediately; however, you will be restricted from transferring it to your wallet, as you need to wait until the ETH settles, which can take a few business days. But once you get notification from Coinbase, then you are good to go.
Hope this helps you get started on your collection.
Disclaimer: Please note that this newsletter is in no way financial advice. Cryptocurrencies and the NFT market are extremely volatile, do not invest anything you can’t afford to lose. Make sure to do your own research before buying anything.
If you’d like us to cover any other specific topics or have any questions, be sure to drop us a tweet @NFT-ArtSource or a comment here. For more NFT art guidance, follow our Instagram account @nft_artsource.
Stay Curious!
~NFT Art Source
Article by: Iris Pearlman
For more beginner tips, check out this article.