Welcome back, everyone.
Tonight’s the night!
Tim Sykes’ NFT Trading Summit starts at 8 p.m. Eastern. And I’m getting a ton of questions about how to get started in NFTs.
Listen, I’m always here for you. Nobody loves the market, finance, and trading more than I do. But NFTs are a whole new world…
So today, I’m giving you a summary of NFT basics to help you get ready for the big event. But if you want to learn more from someone who has made seven figures trading NFTs — register for tonight’s event before time runs out!
And don’t forget! I’m collecting YOUR trading questions for an upcoming special Q&A edition of Daily Accelerator! So, if you struggle with emotions, big losses, or executions, reply to this email and ask me your trading questions. I’m here to help!
My breakdown of NFT basics starts at the beginning…
Buy Crypto
The first thing you need to trade NFTs is crypto coins. And to get those, you need a crypto trading account.
Your crypto trading account is like your stock brokerage account.
You could use a broker that offers crypto trading … But brokers can have limited access to different coins. That’s why most crypto traders buy and trade crypto directly through a crypto exchange.
Some popular crypto trading exchanges are:
Once you have a crypto account, you need to link a payment method so you can buy coins. You can either transfer funds to your trading account or link your account to a debit or credit card.
Each exchange has its own accepted payment methods and access to different crypto coins. So do your research before you open an account.
New to crypto trading? Get your crypto beginner’s guide here.
Next, you need to…
Get a Crypto Wallet
Once you have a crypto account and own crypto, you’ll need to move it so you can spend it. That’s where a crypto wallet comes in.
All wallets come in two choices — hot and cold. Learn more about crypto wallets here.
Crypto wallets are exclusive to certain types of crypto. So be sure the one you choose is compatible with the crypto you own. If you own multiple types of coins, you may need more than one wallet.
Your wallet’s also where you’ll store any NFTs you buy. So consider a wallet’s security before you choose one.
With your crypto securely in your wallet, you’re ready to…
Go Shopping for NFTs
Like I touched on yesterday, NFT marketplaces are where you find NFTs to trade.
And just like wallets, marketplaces are exclusive to the blockchain and crypto they accept.
To buy ethereum NFTs, the most popular marketplaces are OpenSea and Rarible. For Solana NFTs you can shop on SolSea, Solanart, and Magic Eden.
If you want to buy NFTs to collect them like a piece of art, you can buy any NFT that suits you.
But if you want to profit from trading NFTs, you can’t just buy anything…
Just like with stock trading — you need a why.
I touched on what to look for in NFTs here last week. But here’s a summary:
- Trends and themes
- Sympathy plays (derivative projects)
- NFT pumps
Like with stock trading, to trade NFTs you need a plan. And I’ve given you all the basics I know to help you…
But if you want to know how to trade the right NFTs to become profitable — learn from someone who’s already done it.
Tim Sykes’ student Adam Jarrett has made millions trading the NFT market. And TONIGHT’S YOUR CHANCE to learn his three-step NFT trading system!
Don’t miss tonight’s BIG event and your chance to snag some awesome bonuses…
It all starts at 8 p.m. Eastern! RSVP now before it’s too late!
See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade