Non-fungible tokens (NFTs) have revolutionized digital ownership and investing, offering opportunities in art, gaming, and the metaverse. While Coinbase does not currently support NFT trading on its centralized exchange, users can still buy NFTs easily using Coinbase Wallet—a self-custody crypto wallet. Here’s how you can buy NFT on Coinbase Wallet in just a few simple steps.
1. Download and Set Up Coinbase Wallet
To begin, download the Coinbase Wallet mobile app or browser extension. This wallet is separate from the main Coinbase exchange and is specifically designed for Web3 activities, including NFT transactions.
Once installed, you’ll be prompted to create a username—this is essential for sending and receiving assets. You can keep your profile private or public, depending on your preferences.
2. Secure Your Seed Phrase
As a self-custody wallet, Coinbase Wallet provides you with a 12-word seed phrase upon setup. This phrase acts as your recovery key and gives full access to your assets.
Important:
- Write it down and store it offline.
- Never share your seed phrase.
- If you lose it, Coinbase cannot help you recover your wallet.
Keeping this phrase safe is the single most important part of using a crypto wallet.
Also read: How to Buy Real Estate in the Metaverse: A Beginner’s Step-by-Step Guide
3. Add Ethereum (ETH) to Your Wallet
You need ETH to buy NFTs since most NFTs are minted and traded on the Ethereum blockchain. You have two options:
- Transfer ETH from another wallet or exchange.
- Buy ETH on the Coinbase exchange and send it to your wallet.
Remember to always keep extra ETH to cover Ethereum gas fees, which fluctuate based on network congestion.
4. Buy NFT on Coinbase Wallet
Once your wallet is funded with ETH, you’re ready to buy your NFT. Here’s how:
- Tap the “Swap” button in your wallet.
- Select “Choose asset” and search for the NFT you want to buy.
- Enter the amount of ETH you wish to swap.
- Confirm the transaction and pay the gas fee.
After confirmation, your NFT will appear in your Coinbase Wallet under the “Collectibles” tab.
NFTs Made Simple with Coinbase Wallet
Buying NFTs on Coinbase Wallet is a straightforward process, especially for users already familiar with the Coinbase ecosystem. Whether you’re investing in digital art or exploring blockchain gaming, NFTs offer a growing world of opportunities.
3 Key Takeaways:
- Coinbase Wallet is required to buy NFTs—not the Coinbase exchange.
- Always secure your 12-word seed phrase to protect your assets.
- Keep extra ETH on hand for network gas fees when swapping for NFTs.
With this guide, you’re well-equipped to buy your first NFT using Coinbase Wallet—safely and efficiently.