Digital trading cards are becoming an increasingly popular way to collect and trade collectibles online. As technology advances, digital trading cards called NFTs (non-fungible tokens) allow collectors to verify ownership and authenticity of digital assets on the blockchain.
Knowing exactly how to buy digital trading cards may seem intimidating at first, but the process is straightforward once you understand the basics. This comprehensive guide will walk you through everything you need to know to start collecting digital trading cards.
Table of Contents
Introduction to Digital Trading Cards
Before jumping into the how-to steps, let’s first cover the basics: what are digital trading cards and why are they gaining popularity?
What are Digital Trading Cards?
Digital trading cards, also known as NFT collectible cards, are digital assets with unique identifying codes recorded on a blockchain. They are bought and sold online, frequently with cryptocurrency.
Some key features of digital trading cards:
- Digital files like images, video, or 3D art
- Recorded on a blockchain to verify authenticity
- Bought and sold online on marketplaces
- Often feature unique designs or limited editions
- Used for collecting or trading, like physical trading cards
Why Buy Digital Trading Cards?
There are several advantages that make digital trading cards an appealing collectible for many consumers:
- Scarcity – Digital cards can have provable scarcities if they are minted with a fixed supply. This scarcity gives them value as collectibles.
- Ownership – Collectors can definitively own and trade the cards because ownership is recorded on the blockchain.
- Flexibility – Digital cards are easier to store and trade than physical cards. You can view them on any device.
- Fun to collect – Many find it fun to collect rare, artistic digital cards just like physical ones.
Benefits of Digital Trading Cards
Some of the unique benefits of collecting digital trading cards include:
- 24/7 trading – Digital marketplaces never close, allowing trading anytime.
- Global accessibility – Cards can be traded with anyone in the world.
- Easy transfers – Blockchain allows instant card transfers between wallets.
- Detailed card data – Blockchain ledger shows full card ownership history.
- Artist revenue – Digital cards generate revenue for artists and creators.
How Digital Cards are Different from Physical Cards
While digital cards provide many new advantages, they are still different from traditional physical trading cards in some key ways:
- Physicality – Digital cards do not have a tangible, physical object like a traditional card.
- Regulation – Digital asset markets currently have less regulation and oversight.
- Volatility – Prices for digital collectibles tend to be more volatile.
- Technical barriers – Buying and storing digital cards requires some tech know-how.
Now that you understand the basics of digital trading cards, let’s get into the steps for actually buying them for your collection.
How to Buy Digital Trading Cards: Step by Step
Buying digital trading cards involves a few key steps:
- Setting up a digital wallet
- Buying cryptocurrency
- Choosing a marketplace
- Browsing & selecting cards
- Completing the purchase
We’ll explore each step in detail. By the end, you’ll have all the knowledge needed to start collecting digital trading cards.
Step 1: Set Up a Digital Wallet
To buy and hold NFTs, you’ll need a digital wallet. A crypto wallet allows you to securely store digital assets and currency.
Here’s what to know when choosing a wallet:
What is a Digital Wallet?
A digital wallet is software for holding public and private keys to interact with a blockchain. Key features include:
- Secure storage for NFTs and cryptocurrency
- Software, browser plugin, or hardware device
- Contains your public wallet address
- Allows you to send/receive crypto or NFTs
How to Choose a Digital Wallet
Some factors to consider when picking a wallet:
- Compatibility – Ensure it works with your preferred NFT marketplaces.
- Security – Select a reputable provider with safety measures.
- Cost – Some wallets charge gas fees on transactions.
- Ownership – Self-custody wallets give you full control over assets.
- Features – Wallets offer different features, like NFT browsing.
Some top digital wallet options include:
- Metamask – Leading Ethereum wallet and gateway to NFT marketplaces.
- Coinbase – Major crypto exchange with an easy NFT wallet option.
- MyEtherWallet – Open source wallet giving you control over private keys.
- Argent – Secure smart contract wallet with support for NFT assets.
- TrustWallet – Mobile wallet option allowing you to store NFT collectibles.
You will need to choose between a hot wallet and a cold wallet. Here is a comparison table to help you sort through which is best for you. I prefer a hot wallet.
| Features | Hot Wallet | Cold Wallet |
|---|---|---|
| Internet Connection | Connected to the internet | Disconnected from the internet |
| Cost | Often free to use | Usually requires purchasing hardware |
| Transaction Ease | Easy to carry out transactions | More steps to transact due to offline nature |
| Vulnerability to Hacking | More vulnerable due to internet connection | Less vulnerable as it is offline |
| Additional Services | Offers services like trading, staking | Primarily for storage; limited additional services |
| Recovery if Lost | Dependent on backup and security features | Difficult; reliant on physical device recovery |
Comparison Table for Hot Digital Wallets
| Wallet | Assets Supported | Cold Storage Conversion | Staking/DeFi Support | Other Key Features |
|---|---|---|---|---|
| Crypto.com DeFi | > 1,000 | Yes (on desktop) | Yes | DeFi focused, 2FA, integrates with Ledger |
| Guarda | > 400,000 | Yes | Yes | Free, supports Ledger, mobile/desktop access |
| Exodus | > 250 | Yes | Yes | Integrates with Trezor, mobile/desktop app |
| Coinbase Wallet | Thousands | Yes | Yes | Easy integration with Coinbase exchange |
| MetaMask | > 700,000 | Yes | Through connected apps | Ethereum-focused, mobile/browser-based |
| Trust Wallet | > 1 million | No | Yes | Binance’s official wallet, open-source |
| Electrum | One (Bitcoin) | Yes | No | Bitcoin-focused, high security, open-source |
Comparison Table for Cold Digital Wallets
| Wallet | Rating | Assets Supported | Online Storage Conversion | Staking/DeFi Support | Other Key Features |
|---|---|---|---|---|---|
| Ledger | 5.0 | > 1,000 | Yes | Yes | Mobile app, 2FA, integrates with software wallets |
| Trezor | 4.0 | > 1,200 | Yes | Yes | Touch screen model available, staking support |
| SafePal | 3.7 | > 30,000 | Yes | Yes | Hybrid wallet, affordable, mobile/browser extension |
My preferred digital wallet is Metamask. It was the easiest for technologically challenged person like myself.
How to Set Up a Digital Wallet
Setting up a wallet involves:
- Downloading the wallet app or browser extension.
- Creating a password for secure access.
- Backing up your recovery phrase to restore the wallet if needed.
- Funding the wallet with cryptocurrency.
- Connecting the wallet to marketplaces.
Take time securing your wallet properly during setup. Once ready, your wallet will allow you to safely buy, store, and trade digital trading cards.
Step 2: Buy Cryptocurrency
To purchase digital trading cards, you’ll need cryptocurrency, usually Ethereum (ETH), to complete transactions on the blockchain. Here’s what you need to know about acquiring crypto:
What is Cryptocurrency?
Cryptocurrency is digital money secured by cryptography and recorded on a blockchain ledger. Some key features:
- Digital form of currency
- Secured by cryptography
- Decentralized with no central authority
- Transactions recorded on a blockchain
- Used for purchases, investments, and trading
How to Buy Cryptocurrency
Popular ways for beginners to acquire crypto like Ethereum include:
- Exchanges – Open an account on a crypto exchange like Coinbase or Binance to buy coins directly.
- Payment services – Services like PayPal or Square Cash allow you to buy crypto.
- Crypto ATMs – Find a crypto ATM in your area to exchange cash for crypto.
- P2P trading – Websites like LocalBitcoins connect you with sellers to buy crypto.
- Debit/Credit card – Many exchanges and services allow crypto purchasing with a card.
Start with a small amount while you are learning. Some payment methods have higher fees, so compare your options.
Cryptocurrency for Digital Trading Cards
Ethereum (ETH) is the most widely-accepted currency for NFT marketplaces and digital trading cards. But some sites accept other coins like:
- Bitcoin (BTC)
- Dai (DAI)
- Tether (USDT)
- USD Coin (USDC)
- Binance USD (BUSD)
Check which currencies your chosen marketplace accepts before buying coins.
Step 3: Choose a Digital Card Marketplace
To start browsing and buying digital trading cards, you’ll need to select a marketplace. Here are the key factors to consider when choosing one:
NFT marketplaces are websites where people buy, sell, and trade digital collectibles like trading cards. They enable:
What are Marketplaces?
- Browsing collectibles from different creators
- Buying cards directly or bidding in auctions
- Trading cards securely from wallet to wallet
- Providing details on sales history and ownership
Top features of marketplaces include:
- Creator profiles and card collections
- Wallet connectivity for purchases
- Buy now or timed auction listings
- Search and filtering to find cards
- Activity feeds and sales histories
How to Choose a Marketplace
Consider these factors when selecting a digital trading card marketplace:
- Reputation – Choose mature sites with strong user bases.
- Volume – Look for active trading volume and new listings.
- Fees – Compare seller fees and gas fees for transactions.
- Payment options – See which currencies are accepted.
- Security – Review measures like wallet verification.
- User experience – Evaluate the browsing and trading interface.
Popular Marketplaces
Some top digital trading card marketplaces include:
| Marketplace | Key Features |
| OpenSea | World’s largest NFT marketplace Broad NFT selection including trading cards Accepts ETH and other coins |
| AtomicHub | One of the largest card marketplaces Specializes in digital trading cards Only accepts cryptocurrency |
| Rarible | Features digital collectibles marketplace Allows creators to mint custom cards Uses RARI governance token |
| TokenTrove | Marketplace to buy, sell, and trade cards Allows users to stake collectibles Also offers individual card listings |
These are just a few of the top digital card trading marketplaces to consider. Browse several to find one that fits your needs and preferred collection.
Step 4: Select a Digital Trading Card
Once you have cryptocurrency and a marketplace, it’s time to start building your collection. Here’s how to browse listings and select the right digital trading cards to buy:
How to Browse Digital Cards
Marketplaces make finding trading cards easy:
- Use search to find cards related to keywords, creators, or collections.
- Filter cards by attributes like price, rarity, release date, or volume.
- Browse featured listings and top creators.
- View daily, weekly, or all-time sales rankings.
- Follow collections to keep up with new releases.
How to Evaluate Digital Cards
When browsing listings, consider these key factors:
- Rarity – How common or scarce is the card edition? What’s the mint count?
- Creator – Does the creator have a strong reputation and following?
- Aesthetics – Do you like the artwork and design itself?
- Utility – Does the card have any gaming or metaverse uses?
- Market trends – Check the activity and historical sales data.
How to Choose a Card
Tips for selecting the right trading card to buy:
- Find creators and collections you want to support.
- Target cards valued in your budget range.
- Consider cards related to your interests or niche communities.
- Look for cards rising in market activity and sales.
- Evaluate factors like design, utility, and rarity.
Take time browsing all the options before purchasing to find digital cards with the best investment potential and personal appeal.
Step 5: Complete the Card Purchase
Once you’ve picked the perfect card to add to your collection, it’s time to complete the purchase. Here’s the process:
Connect Your Wallet
To purchase on a marketplace, you’ll need to connect your digital wallet first.
Steps to connect:
- Access your wallet app or browser plugin.
- Unlock it by entering your password or using biometrics.
- On the marketplace, find the “Connect wallet” button.
- Select your wallet when prompted.
- Confirm the connection request in your wallet.
Your wallet public address will then be linked, allowing you to transact.
Place Your Order
Buying options differ depending on the marketplace and listing:
Direct purchase – Buy instantly at a set price, similar to ecommerce.
Auctions – Place a bid and compete to buy at auction close.
Offers – Send an offer to a seller to negotiate a deal.
For fixed-price listings, you can buy directly from the card page. For auctions, enter your max bid in the bid box.
Complete the Transaction
To finalize the transaction:
- Confirm purchase details like the card edition and price.
- Review the total gas fee for processing on blockchain.
- Enter your digital wallet password or biometrics to authorize.
- Wait for the transfer to process and receive confirmation.
Once complete, your new digital trading card will show in your connected wallet!
Conclusion
Buying digital trading cards through NFT marketplaces opens up an exciting new collecting option. While the steps involve some new concepts, the process is very manageable once you understand the basics.
A few key tips for success when you’re starting out:
- Take time researching top marketplaces to find one you like. Comparison shop.
- Only invest what you can afford to lose as the market fluctuates.
- Focus on reputable creators with established follower bases.
- Use data like sales volume and trends to guide decisions.
- Follow official social accounts for marketplace tips.
- Leverage wallet security features like backups and biometrics.
Digital trading cards offer a fun new spin on collecting rare and valuable digital artwork and assets. As you learn more about buying, collecting, and selling, you’ll find an expansive new community surrounding these digital card markets.
Here are some additional helpful resources for learning more about the world of digital trading cards:
The Ultimate Beginner’s Guide To NBA Digital Trading Cards
11 Most Expensive Digimon Cards
With this complete step-by-step guide, you now have all the essentials to start your journey into collecting digital trading cards. Happy trading!