rainbow wallet
Rainbow Wallet promo (2021)

How to Get Started

Enough theory, how do you actually get started with this? Here's my suggestion.


Buy a small amount of ETH on Coinbase, Binance, or Gemini. To start, I'd recommend buying somewhere between $300 - $3,000 (0.1- 1 ETH), anything less might not be enough to explore.

These three services (Coinbase/Binance/Gemini) are called CEXes (centralized exchanges). This is where you turn your dollars into crypto and vice-versa, but now you want to move the money to a wallet you actually have the private key to.

Create an Ethereum Wallet

Download Rainbow, which is by far the best Ethereum wallet (I also happen to work there). Create a new wallet in the app, and when asked to back up your wallet, remember to write down the seed phrase and store it somewhere safe! This is your private key — only you are in control of this wallet, unlike your CEX wallet.

Send the Ethereum that you bought in Coinbase/Binance/Gemini to your Rainbow wallet by copying the address from your Rainbow wallet and using that as the to address when sending. I I usually start by sending a small amount and once confirmed it arrived, I send the rest.

Get an NFT

There are many places to explore NFTs but my favorites are Zora, OpenSea and Foundation. (If we're friends, just message me and I will send you one for free!)

Get some tokens

Uniswap has thousands and thousands of tokens available to purchase. From Wrapped Bitcoin (WBTC) to tokenized ultra-rare unicorn socks (SOCKS), the possibilities are endless. (Again, if we're friends just message me and I will send you some, gratis!)

Get an ENS domain

An ENS domain is an NFT that acts as your Ethereum username. Instead of sharing your long and convoluted wallet address, you can purchase a .eth domain like example.eth and use that as your public address instead. This is the Ethereum equivalent of buying a .com domain and using example.com instead of giving people a long and convoluted IP address. You can purchase an ENS domain at ens.domains.