How to Invest in NFT Stocks in 2024
In this ‘How to Invest in NFT Stocks,’ article we cover what NFT stocks are, some of the top NFT stocks to consider for this year and how to invest in them with low commissions.
Table of Contents
What are NFT stocks?
You may not yet be familiar with the terms non-fungible tokens (NFTs) so let’s explain what these are first.
What exactly is an NFT? An NFT, or non-fungible token, is a unit of data that allows digital content to be authenticated on a blockchain (a digital ledger). NFT data units usually come in the forms of digital files such as pictures, audio snippets and videos.
What is an NFT stock? NFT stocks represent publicly traded companies that are directly or indirectly involved in non-fungible tokens (NFTs). These companies could be involved in the creation, distribution or promotion of NFTs or may help to serve the NFT marketplace where you can buy and sell NFTs.
If you’re thinking: Can I invest in NFT companies? Yes, you can! As long as the NFT company, or NFT stock is listed on a public stock exchange then you can invest in it.
In fact, from the Admiral Markets Invest.MT5 account you can invest in stocks and ETFs (exchange traded funds) from 15 of the world’s largest stock exchanges. Furthermore, you can invest in US stocks with a low commission of just $0.02 per share with a minimum transaction value of just $1.
What are the best NFT stocks to buy?
It’s quite common for newbie investors to ask the question: Is NFT a good investment? It can be but it’s always worthwhile remembering that investments go up and down. Exercising proper risk management is essential – especially in new sectors such as NFTs which can be volatile.
This is why in the NFT stocks list below, we have avoided NFT penny stocks as these are likely to be extremely volatile and not suitable for most beginner investors.
Trying to identify the best NFT stocks to buy needs to involve thorough research. Even then, what is best for one investor will be different for another. It’s important to identify what your own risk tolerance is and the type of positions you want in your portfolio before you choose which NFT stocks to invest in.
Below is an NFT stocks list of some of the top NFT stocks to watch for this year for you to build your research and analysis upon. Let’s dive in!
1. Coinbase (COIN.US) – Possibly the Best NFT Marketplace Stock for the Future
In October 2021, one of the world’s largest cryptocurrency exchanges, Coinbase, announced it is launching Coinbase NFT. This is a peer-to-peer marketplace that will allow users to mint, purchase, showcase and discover NFTs with ease.
Coinbase has already announced a deal with Mastercard which will facilitate the buying and selling of NFTs. One of the world’s biggest payment companies collaborating with – what could be – the world’s biggest NFT marketplaces has some investors very excited.
Currently, the process of buying NFTs is cumbersome and involves different accounts and platforms. Coinbase is an interesting NFT stock that could directly benefit from a boom in NFT sales as they plan to be the one-stop solution as if you already have a Coinbase account you can do it all from just one place.
Coinbase has already announced that the marketplace will be a more ‘social experience’ and will operate like Instagram. So far, the world has listened and there are more than 1.1 million people on the Coinbase NFT waiting list.
2. eBay (EBAY) - An Established Marketplace Allowing NFT Sales
eBay operates one of the world’s largest online marketplaces and last year allowed the sale of NFTs on its platform. So far, on the eBay platform, you can buy and sell NFTs for digital collectables such as images, video clips and trading cards.
While the company has not yet provided any details regarding the performance of NFTs on its platform, it is moving into this field in a big way. Last year, eBay went through a big restructuring process and sold off other business segments such as Classifieds and StubHub.
As eBay has only just entered into the space, they are still using fiat currencies such as the US dollar to facilitate purchases. On other NFT marketplaces such as Open Sea, purchases are made in cryptocurrency – usually Ethereum.
However, eBay has already stated that they are looking at ways to adopt the buying and selling of NFTs in cryptos. But, the fact users can buy or sell NFTs in a traditional currency like the US dollar could help it to attract more users who are more comfortable using this form of currency.
How to Invest in NFT Stocks
To start investing in NFT stocks you first need a live trading account. Alternatively, you can also practice on a demo trading account until you are ready to go live. You can open an account in Admiral Markets in just a few minutes which will give you access to the world’s most popular stock trading platform MetaTrader 5 for desktop, web and mobile.
Below is a step by step process on how to start investing from the MetaTrader 5 web platform.
- Login to your Admiral Markets account to gain access to the Dashboard. This area allows you to manage your different accounts, access deposit and withdrawal options and premium analytic features.
- From the Dashboard, click on the Trade icon next to your account name to open the MetaTrader 5 web-based trading platform.
- To view a live price chart and trading ticket, type in the name of the instrument at the bottom of the MarketWatch window. Then drag the instrument name onto the chart where you can then access technical trading indicators and view different timeframes.
- To open the trading ticket, right click on the chart, select Trading and then New Order. You can now enter your entry, stop loss and take profit levels and contract size for risk management.
Why Invest in NFT stocks with Admiral Markets?
✔️ Admiral Markets is a well-established company authorised and regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Jordan Securities Commission (JSC) and other well-known financial regulators.
✔️ ️ Open an Invest.MT5 account to invest in real stocks and ETFs to build a long-term portfolio with low commissions on US stocks of just $0.02 per share and low transaction fees of just $1!
✔️ Trade on stock and ETF CFDs (contracts for difference) to trade long and short and potentially profit from rising and falling markets.
✔️ Supercharge your trading with the state of the art Premium Analytics section which includes the Technical Insight Lookup indicator which finds actionable trading ideas for you.
Did you know that you can test ALL of these features by opening a FREE demo trading account?
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